Aehr Test Systems reports Q3 EPS (3c), consensus (3c)

Reports Q3 revenue $7.6M, consensus $7.61M. Reports Bookings were $24.5M for the quarter. Backlog as of February 29 was $20M. “As we noted in our preliminary earnings release in March, our third quarter results reflect delays in wafer level burn-in system orders for silicon carbide semiconductor devices used in electric vehicles. Due to this, we had revised our guidance for our fiscal 2024 full year ending May 31, 2024 to be greater than $65 million in total revenue and net income of at least $11 million, which we are reiterating today. We still expect to finish this fiscal year with annual revenue that is near or above our full year record. “Last week we announced an initial order for our FOX-NP solution from a new customer that is a multi-billion dollar per year global semiconductor company, and is entering the silicon carbide market to address several applications that include automotive, industrial, and electrification infrastructure. This is our third straight new customer for silicon carbide that is primarily focused on applications other than electric vehicles, expanding our opportunity within silicon carbide beyond electric vehicles.