Shares of micro-cap company Aehr Test Systems (AEHR) jumped nearly 25% in extended session Thursday after the semiconductor equipment maker turned to a profit in the fourth quarter, as revenues more than doubled.
Net sales more than doubled to $7.6 million from $3.8 million last year. Profit for the fourth quarter was $567 thousand or $0.02 per share, compared to a loss of $2.9 million or $0.13 per share last year. Adjusted earnings for the quarter were $870 thousand or $0.04 per share, compared to loss of $720 thousand or $0.03 per share last year.
Bookings were $5.5 million for the quarter, up 113% from $2.6 million in the fourth quarter last year.
CEO Gayn Erickson said, "We are pleased to report improved revenue and operating profit in the fiscal fourth quarter that reflect a return to above pre-pandemic levels. We are also encouraged by the strong increase in customer demand during the quarter, which is a positive turnaround from customer production ramp delays and push outs we experienced this past year related to COVID-19. We are off to a strong start for fiscal 2022 with $5.4 million in bookings and an effective backlog of $7 million quarter to date."
Looking forward, Aehr expects full year revenue to be greater than $28 million, which would represent growth of approximately 70% year over year, and to be profitable for the fiscal year.
Aehr Test Systems primarily designs, engineers, manufactures, and sells test and burn-in equipment for use in the semiconductor industry in the United States, Asia, and Europe.
AEHR closed Thursday's trading at $2.81, down $0.02 or 0.71%, on the Nasdaq. The stock, however, gained $0.72 or 25.62%, in the after-hours trade.
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