beat Wall Street’s targets for its fiscal fourth quarter. But its sales outlook for the current year came up a tad short.
arned an adjusted 23 cents a share on sales of $22.3 million for the quarter ended May 31. Analysts polled by FactSet had predicted earnings of 21 cents a share on sales of $22 million. In the year-earlier period, Aehr earned 23 cents on sales of $20.3 million.
For the current fiscal year, Aehr forecast revenue of at least $100 million, representing growth of over 50%. However, Wall Street had been expecting fiscal 2024 sales of $102.6 million. In the just-ended fiscal 2023, Aehr posted sales of $65 million, up 28% from the prior year.
Also, Aehr sees net income rising more than 90% in fiscal 2024 to at least $28 million. Last year, its net income rose 54% to $14.6 million.
CEO: fourth-quarter performance was fueled by sales of test gear for silicon carbide semiconductors used in electric vehicles and EV charging infrastructure.
Another growth area was equipment for testing silicon photonics devices used in data and telecommunications infrastructure, he said.
“We saw fiscal 2023 as a breakout year for our unique and proprietary wafer level test and burn-in products,” Erickson said. “Our engagements with numerous potential customers give us confidence in our growth expectations over the next several years.” (CEO)
Up 4.6% after hours as of 9:25PM
Earnings history and estimates for future (2025 looks good)
