AEHR swing to profitability !!!

[la-onda]

feedback and comments are appreciated
cheers
Oliver

1)
Profile:
Aehr Test Systems engages in the development and manufacture of burn-in and test equipment for the semiconductor industry. Its principal products include the MTX massively parallel test system, the MAX burn-in systems, the FOX full wafer contact system, and the DiePak carrier. The MTX system performs both test and burn-in on thousands of memory devices simultaneously, including DRAMs, flash memories, SDRAMs, DDR SDRAMs, DDR II SDRAMs, and SRAMs. The MAX system is designed for dynamic burn-in of memory and logic devices, such as digital signal processors, microprocessors, microcontrollers, and systems-on-a-chip. The FOX system is designed to make contact with various pads of a wafer, thus enabling full wafer burn-in and parallel test of up to 14 IC wafers at a time. The DiePak carrier is a reusable, temporary package that enables integrated circuit manufacturers to perform final test and burn-in of bare die. The company also manufactures and sells, and licenses others to manufacture and sell custom-designed test fixtures for its systems, which hold the devices undergoing test or burn-in and electrically connect the devices under test to the system electronics. In addition, it provides customer service and support programs, including system installation, system repair, applications engineering support, spare parts inventories, customer training, and documentation. The company markets and sells its products to semiconductor manufacturers, semiconductor contract assemblers, electronics manufacturers, and burn-in and test service companies worldwide.

2)
3rd quarter results:
http://www.aehr.com/investors/q306.pdf

3)
AEHR: Shares Jump On Swing to Profitability
Friday , March 24, 2006 07:39 ET
Aehr Test Systems (AEHR 52-wk high) reported 5c vs. (16c) in Q3 on a 204% jump in quarterly revenue. For the 9 month period, AEHR earned 4c vs. (42c). The Company expects sales and EPS to increase sequentially in the current quarter, suggesting a full year profit - its first after years of red ink. In its earnings preview story on Thursday, Knobias reported the pattern of winter quarter earnings surprises in the industry.

4)
4 Mio $ order:
http://www.aehr.com/investors/MAX_TI_Orders.pdf

5)
TA LINK & Chart:

http://www.stockta.com/cgi-bin/analysis.pl?symb=AEHR&num1=3&cobrand=windchart&mode=stock

EMA50 acting as support

[Michael]

Hi Oliver,

Thanks for this pick! It is Indeed a beautiful turn around story.

Have a look at sales and income for the last couple of quarters:



Sales is up more than 200% and net income has turned the corner! They have a very healthy balance sheet with $10 million in cash and no debt.

AEHR is a leading worldwide provider of systems for burning-in and testing DRAM and logic integrated circuits and has an installed base of more than 2,500 systems worldwide.

Their systems performs both test and burn-in on thousands of memory devices simultaneously, including DRAMs, flash memories, SDRAMs, DDR SDRAMs, DDR II SDRAMs, and SRAMs. Now this is a hot sector with a very fast growth as reflected in AEHR's results.

In fact there have just recently been two IPO's of suppliers of testing equipement to the IC producers:



AEHR is trading at a P/S of less than half of NEXT and EGLT. What AEHR is missing is profit but after the release of Q3 earnings this seems to be history. Not only did they post their second consecutive profitable quarter but they also guided sales and earnings higher for Q4 in the CC. In addition the have signed two new significant orders which will first hit the P&L in the coming 2 quarters. These orders alone are approximately $8 million.

Based on the guidance on the CC and the historical performance I would expect earnings per share to come in at 0.27 in 2007 (their fiancial year finish February 07!) This gives a PE of  18 or significantly lower than NEXT and EGLT.

I would love to pick this stock for 3SOV but there is one problem and that is volume.  Frankly speaking if we put a market order out for 3SOV we might drive the stock up and when we want to sell again we might drive the stock down! But for the time being I will try to accumulate AEHR for my own portfolio

I have a stop at 4.6 in case the recent break out fails:

[la-onda]

wow 

AEHR: New 52-Wk High @ $5.710 up 12.62%
Thursday , April 13, 2006 13:30 ET

This is the 1st 52 WEEK HIGH alert for AEHR in the past 7 calendar days.

The share price for Aehr Test Systems (NASDAQ NM: AEHR) reached a new 52-week high today, trading at $5.710, up $0.640 (12.62%) from its previous close of $5.070.

The Company's previous 52-week high of $5.580 was set 17 days ago on March 27, 2006.

One year ago, the Company's shares closed at $2.790. The price has climbed more than 104 percent since then.

At the time of this alert, the stock had traded 31,400 shares via 27 trades, 32.19% below it's 20day average of 46,307 shares.

This new 52-week high currently puts the stock:

18.65% above its 20day Moving Average of $4.812
35.31% above its 50day Moving Average of $4.220
43.88% above its 100day Moving Average of $3.968

new form 10-Q report available:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001040470%2D06%2D000022%2Etxt&FilePath=%5C2006%5C04%5C13%5C&CoName=AEHR+TEST+SYSTEMS&FormType=10%2DQ&RcvdDate=4%2F13%2F2006&pdf=

but I didn´t sold AOB and I didn´t bought AEHR this morning 

happy easter

[digdug42]

I can't find any news but AEHR is moving well so far today. Up to 6.22 right now! I got in a little while ago at 5.11 . Maybe a news release is coming

[la-onda]

wow again 

new 52 week HIGH

AEHR: CE Unterberg Starts @ Buy; Sets Tgt @ $12; Analyst Notes
Friday , June 09, 2006 09:53 ET
Issuer: Aehr Test Systems (NasdaqNM: AEHR)
Analyst Firm:  C.E. Unterberg Towbin Co.
Ratings Action: INITIATE
Current Rating: Buy
Target Price Action: INITIATE
Target Price: $12.00
Analyst Comments: According to the firm, rapid growth in flash memory units is driving the need for faster lower cost test systems, driving sales in AEHR's MTX family of highly parallel testers.

[digdug42]

man, i wish i had stayed in this one a little longer. Looks great! good luck

[la-onda]

 

[la-onda]

wow, since my first posting there was a 100% gain, now retraced to middle 7 area

fyi; update

[la-onda]

nice price action the last few weeks....

[la-onda]

update:
reasino for drop yesterday?

Aehr Test Systems initiated with "sell"

Wednesday, September 27, 2006 4:17:38 AM ET
Nollenberger Capital

NEW YORK, September 27 (newratings.com) - Analyst Theodore O'Neill of Nollenberger Capital initiates coverage of Aehr Test Systems (ticker: AEHR) with a "sell" rating. The target price is set to $5.

In a research note published yesterday, the analyst mentions that the company has been unable to deliver consistent or cyclical profits and its ambitious new product development programme is ineffective. The analysts consider the consensus earnings estimates for FY07 and FY08 too aggressive. Nollenberger Capital expects the consensus earnings estimates to decline after Aehr Test Systems reports its 1Q07 results.

PLEASE READ attached analysis ![/color]

[BigSully1]

Aehr Test Systems Reports 55% Increase in Net Sales for Second Quarter Fiscal 2008
Monday January 7, 4:03 pm ET


FREMONT, Calif., Jan. 7 /PRNewswire-FirstCall/ -- Aehr Test Systems (Nasdaq: AEHR - News), a leading supplier of semiconductor test and burn-in equipment, today announced financial results for the second quarter of fiscal 2008 ended November 30, 2007.

Net sales were $9.7 million in the second quarter of fiscal 2008, an increase of 55% from $6.2 million in the second quarter of fiscal 2007. Aehr Test reported net income of $1.4 million, or $0.16 per diluted share, in the second quarter of fiscal 2008, compared with net income of $687,000, or $0.08 per diluted share, in the second quarter of fiscal 2007.

Net income excluding stock compensation expense of $203,000 was $1.6 million, or $0.19 per diluted share, in the second quarter of fiscal 2008. In the same period of the prior fiscal year, net income excluding stock compensation expense of $172,000 was $856,000, or $0.10 per diluted share. The attached condensed consolidated financial statements include a table reconciling the Company's net income excluding stock compensation expense to net income calculated according to accounting principles generally accepted in the United States ("GAAP") for the three and six months ended November 30, 2007 and 2006.

"We are pleased that we generated sequential quarterly sales growth of 26%, while increasing our income from operations by approximately $1.7 million over the same three month period of the prior fiscal year," said Rhea Posedel, chairman and chief executive officer of Aehr Test Systems. "Our strong performance was driven by increasing revenue from our FOX(TM)-1 full wafer parallel test systems and full wafer test contactors.

"A major accomplishment for the quarter, which we announced today, was shipping our first FOX-15 wafer level burn-in system to a leading automotive IC producer," continued Posedel. "We plan to record revenue for this system upon completion of customer acceptance. We believe that our newly released multi-slot FOX-15 system will help us to better address the burn-in requirements for the growing markets of automotive ICs and known good die."

Net sales were $17.3 million in the first six months of fiscal 2008, compared with $13.4 million in the first six months of fiscal 2007. Net income for the six months ended November 30, 2007 was $2.1 million, or $0.26 per diluted share, compared with net income of $1.2 million, or $0.15 per diluted share, in the same period of the prior fiscal year.

At November 30, 2007, cash and cash equivalents and short-term investments were $6.9 million. Aehr Test closed the second quarter of fiscal 2008 with no outstanding debt and shareholders' equity of $26.6 million, or $3.33 per share outstanding, at November 30, 2007.

Commenting on the outlook for the third quarter of fiscal 2008, Gary Larson, vice president and chief financial officer of Aehr Test Systems, said, "We continue to have a solid backlog for FOX products, which provides good visibility on the near-term performance of the Company. Based on expected shipment schedules for the FOX products, we believe our net sales and net income in the third quarter of fiscal 2008 will be higher than those in the second quarter."

Management Conference Call

Management of Aehr Test will host a conference call and webcast today, January 7, 2008 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's second quarter fiscal 2008 operating results. The conference call will be accessible live via the internet at http://www.aehr.com. Please go to the website at least 15 minutes before start time to register, download and install any necessary audio software. A replay of the webcast will be available at http://www.aehr.com for 90 days.

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a leading worldwide provider of systems for burning-in and testing DRAMs, flash, and other memory and logic integrated circuits and has an installed base of more than 2,500 systems worldwide. Aehr Test has developed and introduced several innovative products, including the FOX, MTX and MAX systems and the DiePak® carrier. The FOX system is a full wafer contact test and burn-in system. The MTX system is a massively parallel test system designed to reduce the cost of memory testing by performing both test and burn-in on thousands of devices simultaneously. The MAX system can effectively burn-in and functionally test complex devices, such as digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company's website at http://www.aehr.com.

Safe Harbor Statement

This release contains forward-looking statements that involve risks and uncertainties relating to projections regarding customer demand and acceptance of Aehr Test's products. Actual results may vary from projected results. These risks and uncertainties include without limitation, economic conditions in Asia and elsewhere, acceptance by customers of Aehr Test's technologies, acceptance by customers of the systems shipped upon receipt of a purchase order and the ability of new products to meet customer needs or perform as described, and the Company's development and manufacture of a commercially successful wafer-level test and burn-in system. See Aehr Test's recent 10-K report and other reports from time to time filed with the Securities and Exchange Commission (SEC) for a more detailed description of the risks facing our business. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.


                         [Financial Tables to Follow]



                      AEHR TEST SYSTEMS AND SUBSIDIARIES
                 Condensed Consolidated Statements of Income
                    (in thousands, except per share data)
                                 (Unaudited)

                                       Three Months Ended   Six Months Ended
                                          November 30,        November 30,

                                        2007       2006     2007        2006

    Net sales                          $9,675     $6,249  $17,335     $13,385
    Cost of sales                       4,791      3,290    8,270       7,173
    Gross profit                        4,884      2,959    9,065       6,212

    Operating expenses:
      Selling, general and
       administrative                   1,847      1,519    3,663       3,154
      Research and development          1,445      1,522    3,093       2,909
        Total operating expenses        3,292      3,041    6,756       6,063

        Income (loss) from operations   1,592        (82)   2,309         149

    Interest income                        83        134      158         256
    Other income (expense), net          (110)       651     (108)        867

        Income before income tax
         expense                        1,565        703    2,359       1,272

        Income tax expense                199         16      214          28

             Net income                $1,366   $    687 $  2,145    $  1,244

    Net income per share
            Basic                    $   0.17   $   0.09 $   0.27    $   0.16

            Diluted                  $   0.16   $   0.08 $   0.26    $   0.15

    Shares used in per share
     calculations:
            Basic                       7,906      7,749    7,866       7,716
            Diluted                     8,418      8,243    8,359       8,284



                      AEHR TEST SYSTEMS AND SUBSIDIARIES
                 Reconciliation of GAAP and Non-GAAP Results
                    (in thousands, except per share data)
                                 (Unaudited)

Reconciliation of non-GAAP Financial Measure - net income to net income excluding stock compensation expense


                                       Three Months Ended   Six Months Ended
                                          November 30,         November 30,
                                          2007    2006        2007     2006

    Net income                           $1,366   $687       $2,145   $1,244

    Stock compensation expense              203    172          396      335
      Income  before income taxes,
       excluding stock compensation
       expense                            1,569    859        2,541    1,579

    Income tax expense                        4      3            8        6
      Net income excluding stock
       compensation expense              $1,565   $856       $2,533   $1,573

    Diluted net income  per share
     excluding stock compensation
     expense                             $ 0.19  $0.10       $ 0.30   $ 0.19


Net income excluding stock compensation expense is a non-GAAP measure and should not be considered a replacement for GAAP results.

Net income excluding stock compensation expense is a financial measure the Company uses to evaluate the underlying results and operating performance of the business. The difference between net income (the most comparable GAAP measure) and net income excluding stock compensation expense (the non-GAAP measure) reflects the impact of applying SFAS 123R to the current period. The limitation of this measure is that it excludes an item that impacts the Company's current period net income. This limitation is best addressed by using this measure in combination with net income (the most comparable GAAP measure) because net income excluding stock compensation expense does not reflect the impact of SFAS 123R and may be higher than net income (the most comparable GAAP measure).




                      AEHR TEST SYSTEMS AND SUBSIDIARIES
                    Condensed Consolidated Balance Sheets
                    (in thousands, except per share data)
                                 (Unaudited)

                                              November 30,        May 31,
                                                 2007              2007
    ASSETS

    Current assets:
      Cash and cash equivalents                 $5,987            $6,564
      Short-term investments                       951             2,987
      Accounts receivable, net                  11,554             6,614
      Inventories                               10,678             9,701
      Prepaid expenses and other                   371               326
        Total current assets                    29,541            26,192

      Property and equipment, net                1,605             1,689
      Goodwill                                     274               274
      Other assets                                 516               520
        Total assets                           $31,936           $28,675

    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current liabilities:
      Accounts payable                          $1,872            $2,517
      Accrued expenses                           3,098             2,927
      Deferred revenue                             194               378
        Total current liabilities                5,164             5,822

    Deferred lease commitment                      140               185
        Total liabilities                        5,304             6,007

    Shareholders' equity:
      Common stock, $0.01 par value outstanding:
        8,001 and 7,820 shares at November 30,
         2007 and May 31, 2007, respectively        80                78
      Additional paid-in capital                40,802            39,552
      Accumulated other comprehensive income     1,681             1,241
      Accumulated deficit                      (15,931)          (18,203)

        Total shareholders' equity              26,632            22,668

        Total liabilities and
         shareholders' equity                  $31,936           $28,675


     Contact:

     Tricia Ross
     Financial Relations Board for Aehr Test Systems
     Investor/Analyst Contact
     (310) 403-7322




--------------------------------------------------------------------------------
Source: Aehr Test Systems

[la-onda]

Aehr Test Systems 2Q net earnings double as revenue climbs
Monday , January 07, 2008 17:36ET

SAN FRANCISCO, Jan 08, 2008 (Thomson Financial via COMTEX) -- Aehr Test Systems Inc. late Monday said second-quarter net income rose to $1.37 million, or 16 cents a share, from $687,000, or 8 cents a share, a year earlier.
Revenue for the quarter ended Nov. 30 was $9.68 million versus $6.25 million last year.
Adjusted income was $1.57 million, or 19 cents a share, compared with $856,000, or 10 cents a share, for the same period a year ago.
The Fremont, Calif.-based semiconductor products company said it expects third-quarter earnings and revenue will be higher than the second quarter.
Aehr shares closed the regular session down 22 cents at $5.60, but rose 40 cents, or 7.14%, to $6 in after-hours trading.

[BigSully1]

chart update

[la-onda]

holy molly why the drop? 

Aehr Test Systems Reports 32% Increase in Net Sales for Fourth Quarter Fiscal 2008
Tuesday , July 22, 2008 16:01ET

FREMONT, Calif., July 22 /PRNewswire-FirstCall/ -- Aehr Test Systems (Nasdaq: AEHR), a leading supplier of semiconductor test and burn-in equipment, today announced financial results for the fourth quarter and full fiscal year ended May 31, 2008.

Net sales were $10.9 million in the fourth quarter of fiscal 2008, an increase of 32% from $8.3 million in the fourth quarter of fiscal 2007. Aehr Test reported net income of $6.5 million, or $0.74 per diluted share, in the fourth quarter of fiscal 2008, compared with net income of $919,000, or $0.11 per diluted share, in the fourth quarter of fiscal 2007. Net income for the fourth quarter of fiscal 2008 was positively impacted by a tax benefit of $4.6 million, or $0.53 per diluted share, related to the reversal of a valuation allowance against the Company's deferred tax assets, following a determination by management that certain deferred tax assets are more likely than not to be realizable in the future.

Net income excluding stock compensation expense of $225,000 was $6.7 million, or $0.77 per diluted share, in the fourth quarter of fiscal 2008. In the same period of the prior fiscal year, net income excluding stock compensation expense of $172,000 was $1.1 million, or $0.13 per diluted share. The attached condensed consolidated financial statements include a table reconciling the Company's net income excluding stock compensation expense to net income calculated according to accounting principles generally accepted in the United States ("GAAP") for the three and 12 months ended May 31, 2008 and 2007.

"We delivered another quarter of strong year-over-year revenue and earnings growth, driven primarily by shipments of custom designed WaferPak contactors for our growing installed base of FOX(TM)-1 full wafer parallel test systems, and acceptance of a FOX-15 wafer level burn-in system," said Rhea Posedel, chairman and chief executive officer of Aehr Test Systems.

"We were pleased to announce the first order for our new Advanced Burn-In and Test System (ABTS) and the strategic partnership with Antares Advanced Test Technologies. The Antares partnership will enhance our ability to pursue growing market segments for burn-in and test of high power logic devices. We anticipate that our new ABTS family of products will serve as a meaningful driver of additional revenue growth in the future," said Posedel.

Net sales were $39.0 million in fiscal 2008, an increase of 43% over $27.4 million in fiscal 2007. Net income for the year ended May 31, 2008 was $10.6 million, or $1.24 per diluted share, compared with net income of $2.4 million, or $0.30 per diluted share, in the prior fiscal year. The tax benefit recognized in the fourth quarter of fiscal 2008 resulted in a positive impact of $4.6 million, or $0.54 per diluted share, for the year ended May 31, 2008. Net income excluding stock compensation expense of $838,000 was $11.4 million, or $1.34 per diluted share, in fiscal 2008.

At May 31, 2008, cash and cash equivalents and short-term investments were $15.6 million. Aehr Test closed the fourth quarter of fiscal 2008 with no outstanding debt and shareholders' equity of $37.8 million, or $4.52 per share outstanding, at May 31, 2008. As of May 31, 2008, the Company's backlog was $18.6 million, compared with $21.3 million in the prior year period.

Commenting on the outlook for Aehr Test Systems, Gary Larson, vice president and chief financial officer, said, "Based on expected shipment schedules for FOX products, we believe our net sales in the first quarter of fiscal 2009 will be higher than those in the same quarter of the prior year."


AEHR: Q4 Adj EPS 77c vs 13c Beats 26c Est
Wednesday, July 23, 2008 06:30ET

QUARTER RESULTS
Aehr Test Systems (AEHR) reported Q4 results ended May 2008. Q4 Revenues were $10.91M; +31.76% vs yr-ago; MISSING revenue consensus by -7.54%. Q4 EPS was 74c. Adjusted Q4 EPS was 77c; +492.31% vs yr-ago; BEATING earnings consensus by +196.15%.


YEAR-END RESULTS
Co. also reported Year-End results ended May 2008. FY Revenues were $39.04M; +42.74% vs yr-ago; MISSING revenue consensus by -2.23%. FY EPS was $1.24. Adjusted FY EPS was $1.34; +252.63% vs yr-ago; BEATING earnings consensus by +63.41%.