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Feb 29, 2020
Aehr Q3 2020 Earnings Report
Aehr Test Systems reported a 93% year-over-year revenue increase in the third quarter and withdrew its previously provided fiscal 2020 financial guidance due to COVID-19 uncertainty.
Key Takeaways
Aehr Test Systems reported a strong third quarter with a 93% increase in revenue compared to the same quarter last year. The company achieved profitability with a GAAP net income of $245,000. However, due to the uncertainty caused by the COVID-19 pandemic, Aehr Test Systems withdrew its fiscal year 2020 financial guidance.
Net sales were $6.1 million, up 93% from $3.2 million in the third quarter of fiscal 2019.
GAAP net income was $245,000, or $0.01 per diluted share, compared to a GAAP net loss of $3.2 million, or $0.14 per diluted share, in the third quarter of fiscal 2019.
Non-GAAP net income was $452,000, or $0.02 per diluted share, compared to a non-GAAP net loss of $1.6 million, or $0.07 per diluted share, in the third quarter of fiscal 2019.
Backlog as of February 29, 2020 was $3.6 million.
Forward Guidance
Due to the uncertainty of the full impact of the COVID-19 pandemic on our customers, Aehr Test Systems is taking the conservative stance to withdraw its previously provided guidance for the fiscal 2020 year ending May 31, 2020.
Historical Earnings Impact
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