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Earnings Review and Free Research Report: Aehr Reported Better Than Expected Revenue

LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Aehr Test Systems (NASDAQ: AEHR) ("Aehr"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AEHR, following the Company's posting of its financial results on September 28, 2017, for the first quarter of the fiscal year 2018. The supplier of semiconductor test and burn-in equipment's net revenue increased 31% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the three months ended August 31, 2017, Aehr's net revenue increased 31% to $6.97 million from $5.32 million in Q1 FY17. The net revenue figures surpassed analysts' expectations of $6.75 million.

During Q1 FY18, the Company's gross profit increased 32.1% to $2.92 million from $2.21 million in Q1 FY17. For the reported quarter, the Company's gross margin increased 30 basis points to 41.8% of revenue from 41.5% of revenue in Q1 FY17.

During Q1 FY18, Aehr's selling, general, and administrative expenses (SG&A) increased 4% to $1.79 million from $1.72 million in Q1 FY17. During Q1 FY18, the Company's R&D expenses decreased 9.9% to $955,000 from $1.06 million in the same period of last year. For the reported quarter, the Company's total operating expenses decreased 1% to $2.75 million from $2.78 million in Q1 FY17.

For the reported quarter, the Company's operating income was $172,000 compared to an operating loss of $570,000 in Q1 FY17.

During Q1 FY18, Aehr's net income was $10,000 compared to a net loss of $755,000 in Q1 FY17. For the reported quarter, the Company's adjusted net income was $226,000 compared to an adjusted net loss of $436,000 in Q1 FY17. During Q1 FY18, Aehr's diluted earnings per share (EPS) was $0.00 compared to a negative diluted EPS of $0.06 in Q1 FY17. For the reported quarter, the Company's adjusted diluted EPS was positive $0.01 compared to a negative adjusted diluted EPS of $0.03 in Q1 FY17.

Order Update

During Q1 FY18, Aehr received a follow-on order exceeding $1.3 million for multiple WaferPak™ contractors for its FOX-1 wafer level test systems for flash memory testing.

During Q1 FY18, the Company received a follow-on order exceeding $3.8 million for multiple ABTS test and burn-in systems from a leading multi-national manufacturer of advanced logic integrated circuits (ICs) for automotive devices.

During August 2017, Aehr announced first volume production order exceeding $3.0 million for multiple Advanced Burn-in and Test System (ABTS™) thermal chambers from an OEM customer for a high-volume application.

On September 28, 2017, the Company announced that it received follow-on orders totaling $2.7 million from a subcontractor of its initial lead FOX-XPTM Test and Burn-in System customer.

During September 2017, Aehr also received a $900,000 order from its second lead FOX-XP customer to provide additional testing capability and power handling capacity to test and burn-in new silicon photonics.

Balance Sheet

As on August 31, 2017, Aehr's cash and cash equivalents decreased 21.4% to $13.99 million from $17.80 million in Q4 FY17.

During Q1 FY18, the Company's net accounts receivables increased 50.8% to $6.05 million from $4.01 million in Q4 FY17.

For the reported quarter, Aehr's inventories increased 36.6% to $9.02 million from $6.60 million in Q4 FY17.

For the reported quarter, the Company's accounts payable increased 23.4% to $3.47 million from $2.81 million in Q4 FY17.

During Q1 FY18, Aehr's long-term debt was at par with the $6.11 million reported in Q4 FY17.

Stock Performance

On Tuesday, October 10, 2017, the stock closed the trading session at $3.68, slipping 1.08% from its previous closing price of $3.72. A total volume of 77.02 thousand shares have exchanged hands. Aehr Test Systems' stock price surged 11.52% in the last one month and 26.46% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 52.70%. The stock currently has a market cap of $78.64 million.

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SOURCE: Pro-Trader Daily