FREMONT, CA – Aehr Check Methods (NASDAQ:AEHR), a world supplier of semiconductor check gear, reported preliminary monetary outcomes for its third quarter of fiscal 2024, which ended on February 29, 2024. The corporate anticipates a income shortfall and a internet loss for the quarter, attributing the downturn to delayed orders for its wafer stage burn-in techniques, notably these for electrical automobile semiconductors.

For the third quarter, Aehr expects income to be round $7.6 million with a GAAP internet loss between $1.5 million and $1.8 million, or $0.05 to $0.06 per diluted share. On a non-GAAP foundation, which excludes stock-based compensation, the web loss is projected to be between $0.9 million and $1.2 million, or $0.03 to $0.04 per diluted share. Regardless of the quarterly setback, bookings reached $24.5 million, and the corporate reported a backlog of $20 million as of February 29, 2024.

Wanting forward, Aehr has revised its full-year income steerage for fiscal 2024, ending Could 31, 2024. The corporate now forecasts complete income of not less than $65 million, with GAAP internet revenue anticipated to be round $11 million or extra, or $0.38 per diluted share. Non-GAAP internet revenue, which once more excludes stock-based compensation, is projected to be roughly $14 million or extra, or $0.48 per diluted share.

Gayn Erickson, President and CEO of Aehr, pointed to broader trade challenges, together with a normal softness in semiconductor capital spending and stock gluts which have led to deferred orders. Erickson additionally famous particular delays in orders for silicon carbide techniques utilized in electrical autos. He stays optimistic in regards to the long-term development alternatives within the semiconductor wafer stage check and burn-in market, which spans throughout varied purposes together with electrical autos, renewable power, and knowledge storage.

The corporate will additional focus on the market impression and improve in buyer engagements throughout its earnings name scheduled for April 9, 2024. The complete monetary outcomes for the third quarter shall be launched on the identical date, and these preliminary figures are topic to completion of normal quarter-end accounting procedures.

This information report relies on a press launch assertion from Aehr Check Methods.

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