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Aehr Test Systems (AEHR) Announces Private Placement, Posts Preliminary Q1 2017 Financial Results

Company: Aehr Test Systems (AEHR)
Category: News

Aehr Test Systems (NASDAQ: AEHR) has signed a definitive purchase agreement for the sale of approximately $5.9 million in shares of its common stock (priced at $2.15 per share) in a private placement transaction with certain institutional and accredited investors. The supplier of semiconductor test and burn-in equipment plans to use the net proceeds for working capital and general corporate purposes. Aehr also announced preliminary financial results for Q1 of fiscal 2017, expecting a GAAP net loss between $800,000 and $900,000 on revenue of $5.3 million, compared to a net loss of $3.1 million on revenue of $1.6 million in Q4 2016. Backlog is expected to be over $10 million as of August 31, 2016, compared to a backlog of $5.3 million as of May 31, 2016, while bookings in the first quarter of fiscal 2017 are estimated to be over $10 million.

To view the full press release, visit: http://nnw.fm/yDCB6

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test Systems products in package and wafer level test. Aehr Test Systems has developed and introduced several innovative products, including the ABTSTM and FOX families of test and burn-in systems and WaferPak contactors. The ABTS systems are used in production and qualification testing of packaged parts for both low-power and high-power logic as well as memory devices. The FOX family of systems includes single and multi-wafer full wafer contact test and burn-in systems used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The WaferPak contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. For more information, visit www.aehr.com

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