Aehr Test Systems Surpasses Q4 Expectations, Projects Strong 2024 Performance

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Aehr Test Systems Surpasses Q4 Expectations, Projects Strong 2024 Performance

Aehr Test Systems Exceeds Q4 Revenue Expectations, Projects Strong 2024

Aehr Test Systems (AEHR) shares surged in after-hours trading on Tuesday after the company announced preliminary financial results for the fourth quarter exceeding analyst expectations.

Aehr reported an estimated Q4 revenue of $16.6 million, surpassing the $15.452 million anticipated by analysts. The company also expects a significant Q4 GAAP net income of approximately $23.8 million, including a $20.8 million tax benefit.

Looking ahead, Aehr projects full-year 2024 revenue of approximately $66.2 million and GAAP net income of approximately $33.1 million, again including the tax benefit. The company highlighted the crucial role of wafer level test and burn-in of silicon carbide power semiconductors used in EVs in driving its success.

"Although we saw customer push outs of our products for silicon carbide devices due to slowing electric vehicle (EV) demand in the second half of our fiscal year, we still achieved another record year for annual revenue for Aehr," said Gayn Erickson, president and CEO of Aehr Test Systems.

Despite the slowdown in EV demand, Aehr remains optimistic about the future. "Looking ahead to fiscal 2025, we anticipate silicon carbide will continue to be a key contributor to revenue, but we are also expecting bookings and revenue across a much broader range of customers and markets," Erickson added.

Aehr will release its official financial results after the market closes on July 16th, along with guidance for the new fiscal year.