HomeMarket NewsSmall CapsAehr Test Systems Exceeds Q1 Expectations, Reaffirms Guidance: Key Takeaways

Aehr Test Systems Exceeds Q1 Expectations, Reaffirms Guidance: Key Takeaways

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Aehr Test Systems AEHR has reported its financial results for the first quarter, outperforming analysts’ expectations.

Here’s an overview of the results:

  • Earnings: Aehr Test Systems reported earnings of 18 cents per share, surpassing the consensus estimate of 16 cents. This represents a significant increase of 260% compared to the same period last year when earnings were five cents per share.
  • Sales: The company’s quarterly sales reached $20.62 million, beating the analyst consensus estimate of $19.23 million. This represents a substantial increase of 93.27% compared to sales of $10.67 million in the same period last year.
  • Financial Position: Aehr Test Systems’ total cash, cash equivalents, and short-term investments stood at $51.0 million as of August 31, up from $47.9 million at the end of May.

Furthermore, Aehr Test Systems has reiterated its full-year guidance for 2024, forecasting total revenue to be at least $100 million, slightly below the estimated $102.93 million.

According to Gayn Erickson, the President and CEO of Aehr Test Systems, β€œWe had a strong first quarter, achieving solid revenue and non-GAAP net income. This quarter typically shows softer performance, so we are pleased with the results. Looking ahead, we expect to achieve over 50% revenue growth and more than 90% profit growth year over year.”

Check out: Why Insulet Stock Decreased

Market Reaction: After the announcement, the stock price of AEHR declined by 11.35% to $39.19 in the after-hours trading session, as reported by Benzinga Pro.

Photo: Republica from Pixabay

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