Aehr Test Systems (NASDAQ:AEHR) shares are trading higher Wednesday after the company reported third-quarter earnings on Tuesday after the market closed.
- Aehr shares are testing new highs. What’s driving AEHR to record levels?
Q3 Highlights
Aehr reported an adjusted loss of 5 cents per share, beating the consensus estimate of a 7 cent loss. In addition, the company reported revenue of $10.31 million, missing the consensus estimate of $10.84 million.
Aehr reported quarterly bookings of $37.2 million, representing a book-to-bill ratio of over 3.5x, reflecting strong customer demand across its business.
Total cash, cash equivalents and restricted cash rose to $37.1 million as of Feb. 27, up from $31.0 million in the prior quarter.
President and CEO Gayn Erickson said, “We believe we have a clear path to sustained long-term growth as our installed base expands across AI, silicon photonics, power semiconductors, and other high-performance applications.”
Aehr Shares Soar
AEHR Price Action: At the time of writing, Aehr shares are trading 20.40% higher at $60.50, according to data from Benzinga Pro.
Image via Shutterstock
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