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FREMONT - Aehr Test Systems (NASDAQ:AEHR) shares tumbled 17% after the semiconductor test equipment supplier reported fourth-quarter revenue that missed analyst expectations, as the company continues to face order delays amid market uncertainty.
The company reported fourth-quarter revenue of $14.1 million, below the consensus estimate of $14.8 million and down from $16.6 million in the same quarter last year. Adjusted earnings per share came in at -$0.01, in line with analyst expectations.
Aehr’s quarterly performance was impacted by timing-related delays in order placements, which the company attributed partly to tariff-related uncertainty. The semiconductor test equipment provider reported bookings of $11.1 million for the quarter and a backlog of $15.2 million as of May 30, 2025.
"Fiscal 2025 was a transformative year for Aehr Test Systems, marked by significant progress on our strategic initiatives to expand our total addressable market, diversify our customer base, and enhance our product portfolio," said Gayn Erickson, President and CEO of Aehr Test Systems. "We expanded into new markets for test and burn-in, including artificial intelligence processors for both wafer and package level, gallium nitride power semiconductors, data storage devices, and silicon photonics integrated circuits."
For the full fiscal year 2025, Aehr reported revenue of $59.0 million, down from $66.2 million in fiscal 2024. The company ended the quarter with $26.5 million in cash, cash equivalents and restricted cash, compared to $31.4 million at the end of the previous quarter.
While maintaining a cautious approach and not providing specific guidance, management expressed optimism about growth opportunities across all market segments in fiscal 2026, with the possible exception of silicon carbide, where customer forecasts indicate stronger growth expected in fiscal 2027.
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