Aehr Test Systems Confirms Financial Guidance of Revenues Exceeding $50 Million for Fiscal Year Ending May 31, 2022 Ahead of Craig-Hallum Institutional Investor Conference

Rhea-AI Summary

Aehr Test Systems (NASDAQ: AEHR) reported a strong fiscal year 2022 with total revenue exceeding $50 million, marking a threefold increase compared to the previous year. The company anticipates continued growth in the silicon carbide market for electric vehicles and related infrastructure. CEO Gayn Erickson expressed optimism about the upcoming fiscal year, citing expected new customer engagements and significant investment from a lead customer in silicon carbide solutions. Detailed financial guidance for fiscal 2023 will be shared in mid-July.

Positive

• Full year revenue exceeded $50 million, a 300% increase year-over-year.
• CEO anticipates multiple new customers ramping up in fiscal 2023.
• Significant additional investment from a lead customer for silicon carbide solutions.

Negative

• None.

FREMONT, Calif., June 01, 2022 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today confirms its previously provided financial guidance ahead of hosting virtual meetings with investors today at the 19^th Annual Craig-Hallum Institutional Investor Conference.

For its fiscal year ended May 31, 2022, Aehr completed full year total revenue of greater than $50 million, with strong profit growth in line with its operating model.

Aehr Test President and CEO Gayn Erickson commented, “We are pleased to have finished a strong year yesterday, with fiscal year 2022 total annual revenue of greater than $50 million, more than three times last year’s revenue, and healthy profitability.

“We continue to be excited about the silicon carbide market for electric vehicles and its supporting infrastructure requirements such as charging stations, as well as gallium nitride that is used in both consumer applications and for photovoltaic and automotive applications. Last week Aehr participated in the U.S. Power Semiconductor Executive Summit, a gathering of power semiconductor professionals and thought leaders from around the globe that represent device purchasers such as electric vehicle and photovoltaic market leaders, silicon carbide and gallium nitride device companies, and manufacturing and infrastructure suppliers of silicon carbide and gallium nitride wide-bandgap semiconductors. Our invitation to attend this exclusive event was the result of visibility within the industry of the unique value proposition Aehr provides with its cost-effective and proven wafer level test and burn-in solution for silicon carbide wide-bandgap semiconductors.

“As we look ahead to our fiscal 2023, we are very encouraged by the positive momentum we are seeing with current and prospective customers and anticipate multiple new customers will be ramping in our new fiscal year to meet the enormous needs of wide-bandgap semiconductors, particularly that of silicon carbide used in the electric vehicle market. This is in addition to the expected significant additional investment in additional capacity by our current lead customer for our silicon carbide wafer level burn-in solution. On our upcoming fiscal 2022 fourth quarter and full year conference call in mid-July, we will be providing financial guidance for the new fiscal year with more details on what we feel will be another great year for Aehr Test.”

About Aehr Test Systems
Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic, optical and memory integrated circuits and has installed over 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr Test products in package, wafer level, and singulated die/module level test. Aehr Test has developed and introduced several innovative products, including the ABTS^TM and FOX-P^TM families of test and burn-in systems and FOX WaferPak^TM Aligner, FOX-XP WaferPak Contactor, FOX DiePak^® Carrier and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for both lower power and higher power logic devices as well as all common types of memory devices. The FOX-XP and FOX-NP systems are full wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a new low-cost single-wafer compact test and reliability verification solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The WaferPak Contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of both bare die and modules. For more information, please visit Aehr Test Systems’ website at www.aehr.com.

Contacts:
Aehr Test Systems	MKR Investor Relations Inc.
Ken Spink	Todd Kehrli or Jim Byers
Chief Financial Officer	Analyst/Investor Contact
(510) 623-9400 x309	(323) 468-2300
	aehr@mkr-group.com

FAQ

What were the revenue figures for Aehr Test Systems in fiscal year 2022?

Aehr Test Systems reported total revenue exceeding $50 million in fiscal year 2022.

What is the outlook for Aehr Test Systems in fiscal 2023?

Aehr Test Systems expects continued growth and new customer engagements in fiscal 2023.

How much did Aehr Test Systems revenue increase compared to the previous year?

Aehr Test Systems revenue increased by over 300% compared to the previous year.

What market is Aehr Test Systems focusing on for future growth?

Aehr Test Systems is focusing on the silicon carbide market for electric vehicles.