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FREMONT, California - Aehr Test Systems (NASDAQ:AEHR), a supplier of semiconductor test and burn-in equipment, reported better-than-expected third-quarter results, sending its shares up 3.7% in after-hours trading.
The company posted adjusted earnings per share of $0.07 for the quarter ended February 28, 2025, surpassing analyst estimates of $0.04. Revenue came in at $18.31 million, exceeding the consensus forecast of $17.85 million and marking a significant increase from $7.6 million in the same quarter last year.
Aehr's President and CEO, Gayn Erickson, highlighted the company's success in diversifying its customer base and expanding into new markets. "We are excited by the significant progress we've made this year in expanding into new key markets and unlocking new opportunities to attract customers and drive revenue growth," Erickson stated.
The company reported a shift in its revenue mix, with silicon carbide wafer level burn-in (WLBI) accounting for less than 40% of business this year, down from over 90% in fiscal 2024. Artificial intelligence (AI) processors burn-in now represents over 35% of Aehr's business in its first year.
Bookings for the quarter stood at $24.1 million, with the backlog reaching $18.2 million as of February 28, 2025. The company's total cash and equivalents were $31.4 million at the end of the quarter.
Despite the positive results, Aehr has temporarily withdrawn its fiscal 2025 guidance due to ongoing tariff uncertainty and potential impacts on customers and supply chains. The company plans to reassess its guidance policy as the situation becomes clearer.
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