What happened
The stock of Aehr Test Systems (AEHR 1.50%) tested extremely well on the market Friday, soaring more than 18% in value. Investors were clearly impressed by the company's freshly issued fourth-quarter earnings report, featuring headline numbers that topped analyst estimates.
So what
Aehr unveiled those figures just after market hours on Thursday, leading with the tidbit that it booked all-time highs in both revenue and net profit for fiscal 2023.
In the fourth quarter, the company earned $22.3 million in net sales, which was almost 10% higher compared to the same period of fiscal 2022. Adjusted net income also rose, landing at $6.8 million ($0.23 per share) from the year-ago profit of $6.5 million. Both of those results also set records.
On average, analysts tracking Aehr stock were modeling barely over $22 million on the top line, and an adjusted per-share net income figure of $0.21.
Aehr specializes in diagnostics for integrated circuits, and lately has capitalized on the need for such products in the ever-accelerating electric vehicle (EV) industry.
Now what
The confident Aehr management also proffered guidance for the entirety of its fiscal 2024. For the year, it believes total revenue will be $100 million at a minimum, which would mean at least 50% growth over the fiscal 2023 tally. Under generally accepted accounting principles (GAAP), it should net a profit of at least $28 million. This would shake out to an impressive year-over-year increase of more than 90%.
The company did not provide an adjusted (non-GAAP) net income forecast.
