Nice numbers this evening out of AEHR (see press release below). It looks like they easily beat the analyst expectations and guided higher.:
FREMONT, Calif., March 27 /PRNewswire-FirstCall/ -- Aehr Test Systems (Nasdaq: AEHR - News), a leading supplier of semiconductor test and burn-in equipment, today announced financial results for the third quarter of fiscal 2007 ended February 28, 2007.
Net sales were $5.7 million in the third quarter of fiscal 2007, a decline of 10.0% from $6.3 million in the third quarter of fiscal 2006. Aehr Test reported net income of $265,000, or $0.03 per diluted share, in the third quarter of fiscal 2007, compared with net income of $360,000, or $0.05 per diluted share, in the third quarter of fiscal 2006. Net income excluding stock compensation expense of $171,000 was $433,000, or $0.05 per diluted share, in the third quarter of fiscal 2007. The Company did not record stock compensation expense prior to fiscal 2007. The attached condensed consolidated financial statements include a table reconciling the Company's net income excluding stock compensation expense to net income calculated according to accounting principles generally accepted in the United States ("GAAP") for the three and nine months ended February 28, 2007.
"The demand for our new FOX(TM)-1 full wafer parallel tester continues to grow, as evidenced by the $8 million in follow-on orders that we announced today," said Rhea Posedel, chairman and chief executive officer of Aehr Test Systems. "Since the beginning of fiscal 2007, we have announced more than $18 million in orders for FOX-1 testers and WaferPak contactors, which has driven strong growth in our backlog. All of our FOX family of testers are 300mm wafer ready, and we expect this capability will have a positive impact on our ability to penetrate additional IC manufacturers in the future."
Net sales were $19.1 million in the first nine months of fiscal 2007, compared with $16.8 million in the first nine months of fiscal 2006. Net income for the nine months ended February 28, 2007 was $1.5 million, or $0.18 per diluted share, compared with net income of $282,000, or $0.04 per diluted share, in the same period of the prior fiscal year.
At February 28, 2007, cash and cash equivalents and short-term investments were $10.1 million. Aehr Test closed the third quarter of fiscal 2007 with no outstanding debt and shareholders' equity of $21.5 million, or $2.76 per share outstanding, at February 28, 2007.
Commenting on the outlook for the fourth quarter of fiscal 2007, Gary Larson, vice president and chief financial officer of Aehr Test Systems, said, "Based on our solid backlog of FOX products and the number of systems and contactors scheduled to ship in the fourth quarter, we expect net sales and net income to increase in the fourth quarter, exceeding the levels of the fourth quarter of fiscal 2006."
Management Conference Call
Management of Aehr Test will host a conference call and webcast today, March 27, 2007 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's third quarter fiscal 2007 operating results. The conference call will be accessible live via the internet at www.aehr.com. Please go to the website at least 15 minutes before start time to register, download and install any necessary audio software. A replay of the webcast will be available at www.aehr.com for 90 days. |
