Aehr Test Systems, a leading manufacturer of test and burn-in products for the semiconductor manufacturing industry, has announced its guidance for the full-year revenue. The company is expecting a significant surge in revenue driven by the growing demand for silicon carbide used in electric vehicles.
Shares of Aehr Test Systems rose 3.5% to $42.88 in after-hours trading, reflecting the positive sentiment of investors. The stock has experienced a remarkable growth rate, more than doubling in price over the past 12 months.
The company’s forecast for the year ending May 31 indicates a promising outlook, with revenue expected to reach at least $100 million. This represents a remarkable growth rate of over 50% when compared to the previous year. Additionally, Aehr Test Systems predicts a net income of at least $28 million, reflecting a substantial increase of over 90% from last year.
Chief Executive Gayn Erickson expressed confidence in the company’s expected growth, stating, “Our engagements with numerous potential customers give us confidence in our growth expectations over the next several years, including record revenue and profit projections for this current fiscal year.”
This positive outlook from Aehr Test Systems comes on the heels of the company posting record high revenue in the fiscal fourth quarter.
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