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Feb 28, 2021
Aehr Q3 2021 Earnings Report
Aehr Test Systems reported financial results for the third quarter of fiscal 2021.
Key Takeaways
Aehr Test Systems reported a net sales of $5.3 million and bookings of $8.0 million for the quarter. The company experienced a GAAP net loss of $735,000, or $0.03 per diluted share, and a non-GAAP net loss of $464,000, or $0.02 per diluted share.
Net sales were $5.3 million, compared to $6.1 million in the third quarter of fiscal 2020.
GAAP net loss was $735,000, or $0.03 per diluted share, compared to GAAP net income of $245,000, or $0.01 per diluted share, in the third quarter of fiscal 2020.
Non-GAAP net loss was $464,000, or $0.02 per diluted share, compared to non-GAAP net income of $452,000, or $0.02 per diluted share, in the third quarter of fiscal 2020.
Bookings were $8.0 million for the quarter, compared to $3.1 million in the third quarter of fiscal 2020.
Aehr
Aehr
Forward Guidance
For the fiscal fourth quarter ending May 31, 2021, Aehr expects revenue to be at least $7.0 million, a 33% sequential increase from the third quarter, and to be profitable for the fiscal fourth quarter.
Positive Outlook
- Revenue to be at least $7.0 million for the fiscal fourth quarter ending May 31, 2021.
- Expects a 33% sequential increase in revenue from the third quarter.
- Expects to be profitable for the fiscal fourth quarter.
- Forecasts from current customers to ramp in silicon carbide for electric vehicles and electric vehicle chargers.
- Forecasts from current customers to ramp in silicon photonics for data center and 5G infrastructure.
Challenges Ahead
- The timing of some orders was delayed causing us to come in short of our revenue expectations for this fiscal year.
- COVID-19 related customer production ramp delays.
- Push outs of forecasted orders related to COVID-19.
- Expectations related to long-term demand for Aehr’s productions and the attractiveness of key markets.
- Aehr’s ability to expand its number of customers using its FOX-PTM solutions.