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Nov 30, 2022
Aehr Q2 2023 Earnings Report
Reported a 54% year-over-year revenue increase in the second quarter of fiscal year 2023, driven by strong semiconductor test and burn-in sales for electric vehicles and added two new silicon carbide customers.
Key Takeaways
Aehr Test Systems reported a strong second quarter in fiscal 2023, with revenue up 54% year-over-year to $14.8 million and GAAP net income of $3.7 million, or $0.13 per diluted share. The company's growth was fueled by increased demand for silicon carbide semiconductors in the electric vehicle market, and the addition of two new silicon carbide customers.
Net sales were $14.8 million, up 54% from $9.6 million in the second quarter of fiscal 2022.
GAAP net income was $3.7 million, or $0.13 per diluted share, compared to GAAP net income of $717,000, or $0.03 per diluted share, in the second quarter of fiscal 2022.
Non-GAAP net income was $4.5 million, or $0.16 per diluted share, compared to non-GAAP net income of $1.4 million, or $0.05 per diluted share, in the second quarter of fiscal 2022.
Bookings were $10.8 million for the quarter ended November 30, 2022.
Forward Guidance
Aehr Test Systems reiterates its fiscal year 2023 revenue guidance of $60 million to $70 million and expects bookings to grow faster than revenues.
Positive Outlook
- Reiterating revenue guidance for total revenue to be $60 million to $70 million.
- Expecting strong profit margins similar to last fiscal year.
- Expecting bookings to grow faster than revenues in fiscal 2023.
- Ramp in demand for silicon carbide in electric vehicles increases exponentially throughout the decade.
- Optimistic for a strong second half of this fiscal year and believe the momentum will continue into our fiscal 2024.
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