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Aehr Test Systems Shares Soar On Q4 Results, Clocks 166% Revenue Growth

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  • Aehr Test Systems (NASDAQ: AEHR) reported fourth-quarter sales growth of 166% year-over-year to $20.3 million, beating the consensus of $20.02 million.

  • Adjusted EPS improved to $0.23 from $ 0.04 in 4Q22.

  • The gross margin expanded by 533 bps to 51.6%. Income from operations improved to $5.82 million from $601 thousand, and the margin was 28.7 compared to 7.9% a year ago.

  • For the quarter, Bookings totaled $4.4 million. Backlog as of May 31, 2022, was $11.1 million. The effective backlog, which includes all orders since the end of the fourth quarter, is over $25.5 million.

  • AEHR held cash and cash equivalents of $31.5 million as of May 31, 2022.

  • "Our strong bookings and revenue growth in fiscal 2022 were driven by the demand for our wafer level test and burn-in solutions, particularly for wafer level stress and stabilization of silicon carbide devices for use directly in the electric vehicle market," commented Gayn Erickson, President and CEO.

  • Separately, the company announced that it has received $12.8 million in orders from its lead silicon carbide test and burn-in customer for multiple FOX-XP™ systems, a FOX™ high volume production WaferPak Aligner, and a small number of FOX WaferPak full wafer contactors.

  • FY23 Guidance: Aehr expects total revenue of $60 million to $70 million versus a consensus of $70.78 million, with strong profit margins similar to last fiscal year. It also expects bookings to grow faster than revenues in fiscal 2023.

  • Price Action: AEHR shares are trading higher by 7.07% at $9.85 during the post-market session on Tuesday.

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