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By Ben Glickman
Shares of Aehr Test Systems fell after the company kept its full-year guidance unchanged as it posted higher profit in the fiscal first quarter.
The stock was down 13% to $38.65 in after-hours trading, after falling 2.1% to $44.21 at Thursday’s close. Shares have more than doubled this year.
The Fremont, Calif.-based semiconductor burn-in equipment supplier posted a profit of $4.7 million, or 16 cents a share, in the quarter ended Aug. 31, compared with $589,000, or 2 cents a share, a year earlier.
Revenue jumped 93% to $20.6 million.
Aehr reaffirmed its fiscal 2024 guidance for at least $100 million in revenue and at least $28 million in net income.
The company said it had record shipments of its Fox WaferPak product in its first quarter as more electric vehicles, which use Aehr’s systems, come online.
Write to Ben Glickman at [email protected]
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