Aehr Test Systems $AEHR In Strong Uptrend On Growing Backlog

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Aehr Test Systems $AEHR stock is in a strong uptrend as of November 10, 2022, with the MACD giving a buy signal. Long-term indicators suggest the trend will continue.

Aehr stock chart on November 10, 2022, in a strong uptrend chart pattern with a buy signal on the MACD and a positive money flow.

Aehr Receives Over $4 Million in Orders for its FOX WaferPak

Aehr Test Systems received $4.4 million in orders on November 4, 2022, from a customer for multiple WaferPak to meet their increased production capacity needs for silicon carbide power semiconductors for the electric vehicle market. The WaferPaks are expected to ship by the end of the fiscal third quarter.

Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We are excited to receive these follow-on orders for a significant number of WaferPaks to be used with previously shipped FOX-XP systems for high volume production of MOSFETS used in electric vehicle inverters and onboard chargers. This customer is a leading Fortune 500 supplier of semiconductor devices with a significant customer base in the automotive semiconductor market, and has publicly announced that they expect their growth rate to accelerate faster than previously forecasted. We are excited to participate in their ramp and meet their quality, reliability and capacity needs, and they continue to forecast orders for a significant number of FOX systems and WaferPak Contactors during this fiscal year and well into the future.”

Aehr Test Systems Reports 89% Revenue Growth Year over Year in First Quarter of Fiscal 2023

On October 6, 2022, Aehr Test Systems announced financial results for its first quarter of fiscal 2023 ended August 31, 2022.

Fiscal First Quarter Financial Results:

  • Net sales were $10.7 million, up 89% from $5.6 million in the first quarter of fiscal 2022.
  • GAAP net income was $589,000, or $0.02 per diluted share, compared to GAAP net income of $696,000, or $0.03 per diluted share, in the first quarter of fiscal 2022, which includes the impact of forgiveness of $1.7 million in loans from the Paycheck Protection Program.
  • Non-GAAP net income was $1.3 million, or $0.05 per diluted share, which excludes the impact of stock-based compensation, compared to a non-GAAP net loss of $414,000, or $0.02 per diluted share, in the first quarter of fiscal 2022, which excludes the impact of stock-based compensation and forgiveness of the PPP loan.
  • Bookings were $19.1 million for the quarter ended August 31, 2022.
  • Backlog as of August 31, 2022 was $19.5 million.
  • Total cash and cash equivalents as of August 31, 2022 were $36.1 million, up from $6.5 million at the end of the first quarter of fiscal 2022.

An explanation of the use of non-GAAP financial measures and a reconciliation of Aehr’s non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying tables.

Gayn Erickson, President and CEO of Aehr Test Systems, commented:

“We are off to a good start this year, finishing the first quarter with revenue and net income ahead of consensus estimates, and with strong bookings of $19.1 million… We are currently engaged or in discussions with almost all the existing and future silicon carbide suppliers regarding our unique, low cost, multi-wafer level test and burn-in solution that provides test electronics and device contactor technology that enables contact to 100% of devices on a single wafer. This allows our customers to burn-in every device at a lower cost than they could in any other form due to our ability to contact thousands of devices on a single wafer and test 18 wafers in a single system at one time with our FOX-XPTM multi-wafer test and burn-in system and proprietary FOX full wafer contact WaferPaksTM. The major silicon carbide companies expect that most electric vehicle traction inverters will move to multi-chip modules, and they have told us that they must move to wafer-level stress and burn-in to remove the inherent failures before they put these devices into multi-die modules to meet their cost, yield, and reliability goals of these modules. Aehr’s technology provides a total turnkey single vendor solution to meet these customers’ critical test and stress requirements.”

Silicon Carbide SiC Gold Rush? Intro to Aehr Test Systems (AEHR)

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