Aehr Test Systems (NASDAQ: AEHR) posted adjusted earnings of 0.01 per share in the first quarter, versus a year-ago adjusted loss of $0.03 per share. The company also disclosed that it has received follow-on orders for $2.7 million.
The company, based in Fremont, Calif., posted a news release Thursday in which it declared net sales were $7.0 million, up 31% from $5.3 million in the first quarter of fiscal 2017.
GAAP net income was $10,000, or $0.00 per diluted share, compared to a GAAP net loss of $755,000, or $0.06 per diluted share, in the first quarter of fiscal 2017. Non-GAAP net income was $226,000, or $0.01 per diluted share, compared to a non-GAAP net loss of $436,000, or $0.03 per diluted share, in the first quarter of fiscal 2017.
Aehr also reported a backlog as of August 31 was $15.2 million.
The company also announced Thursday that it received follow-on orders totaling $2.7 million from a subcontractor of its initial lead FOX-XPTM Test and Burn-in System customer. The orders include a partially populated FOX-XP system, multiple DiePak® carriers for their next generation devices, and multiple DiePak loader/unloaders to increase their current production capacity.
CEO Gayn Erickson said, “We are very pleased with the installations of our new FOX-XP Multi-Wafer and Singulated Die/Module Test and Burn-in systems at our two lead customers, and both have purchased follow-on capacity and capability.”
Aehr shares ballooned by Friday’s close by 57 cents, or 16.2%, to $4.09.
