Aehr Test Systems topped analysts’ estimates in its second quarter Wednesday, earning $298,000, or 4 cents a share, on sales of $9 million.
First Call Corp. consensus expected it to earn 2 cents a share in the quarter.
Aehr Test Systems (Nasdaq: AEHR) shares closed unchanged at $5 ahead of the earnings report.
The $9 million in sales marks a 43 percent improvement from the year-ago quarter when it lost $736,000, or 11 cents a share, on sales of $6.3 million.
In the quarter, gross profit margins increased to 38 percent, up from 21 percent in the year-ago period.
“We are very pleased with our strong financial performance this quarter,” said CEO Rhea Posedel in a prepared release. “However, we are seeing a slowdown in spending by a number of our customers, a trend which has been noted previously by other companies in the semiconductor equipment industry. Some of our customers have delayed their placement of orders with us.”
Aehr Test Systems develops, manufactures and sells systems that are designed to reduce the cost of testing DRAMs and other memory devices.
Its shares rallied up to a 52-week high of $10 in March before slipping to a low of $3.50 in December.
Two of the three analysts tracking the stock rate it a “hold.”
Analysts are expecting a profit of 11 cents a share in the fiscal year.