Aehr Test Systems Reports Fiscal First Quarter 2025 Financial Results
Intellectia.AI
Aehr Test Systems Reports Fiscal First Quarter 2025 Financial Results
FREMONT, CA / ACCESSWIRE / October 10, 2024 / Aehr Test Systems (NASDAQ:AEHR), a global supplier of semiconductor test and burn-in equipment, announced its financial results for the first quarter of fiscal 2025 ended August 30, 2024.
Key Financial Metrics
| Financial Metric | Q1 FY2025 | Q1 FY2024 | Change YoY | Consensus Estimates (Q1 FY2025) |
|---|---|---|---|---|
| Total Revenue | $13.1 million | $20.6 million | -36.4% | $12.17 million |
| GAAP Net Income | $0.7 million | $4.7 million | -85.1% | - |
| GAAP Earnings Per Share (EPS) | $0.02 | $0.16 | -87.5% | $0.02 |
| Non-GAAP Net Income | $2.2 million | $5.2 million | -57.7% | - |
| Non-GAAP Earnings Per Share (EPS) | $0.07 | $0.18 | -61.1% | - |
Interpretation : Aehr Test Systems exceeded revenue consensus estimates, achieving $13.1 million in revenue for Q1 FY2025, albeit a significant 36.4% decline year-over-year. Both GAAP and non-GAAP net income and EPS saw a marked decrease when compared to the same period last year. This reflects challenges but demonstrates resilience by surpassing revenue expectations.
Revenue Performance by Segment
| Segment | Revenue (Q1 FY2025) | Comparison to Guidance |
|---|---|---|
| WaferPak Sales | Over $12 million | Exceeded internal targets |
Interpretation : WaferPak sales were notably strong, generating over $12 million, aligning with the company's strategy to expand in semiconductor markets, despite the lack of precise prior guidance figures.
Key Developments and Operational Highlights
- Completed acquisition of Incal Technology, Inc. for $10.6 million net cash.
- Initiated negotiations with first gallium nitride (GaN) customer for volume production.
- Secured first volume production orders for Sonoma ultra-high-power semiconductor solution from a major data center hyperscaler.
- Achieved robust demand for silicon carbide solutions with existing and new customer engagements.
Officers' Comments
Gayn Erickson, President and CEO, emphasized a strong start to the fiscal year, with optimism around key markets such as silicon carbide, EVs, AI processors, and GaN devices. Erickson stated that the company's strategic expansion into these high-growth areas is driving demand and expects expansion in capacity requirements from customers in 2025.
Dividends and Share Repurchase Program
No announcements were made regarding dividends or share repurchase programs.
Forward Guidance
The company reaffirmed its full fiscal year 2025 guidance, targeting at least $70 million in total revenue and a net profit before taxes of at least 10% of revenue.
Stock Price Movement
Post-earnings release, Aehr Test Systems' stock experienced a modest increase, with an after-event change of approximately 0.68%.
In conclusion, Aehr Test Systems showcases strategic progress across its segment offerings and expresses confidence in its ability to capitalize on emerging market opportunities, all while maintaining a cautionary yet hopeful financial outlook for the rest of fiscal 2025.
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