Aehr Test Systems Plunges In Pre-market After Cutting Full-year Outlook

(RTTNews) - Shares of Aehr Test Systems (AEHR), supplier of semiconductor test and burn-in equipment, are down more than 19 percent in pre-market on Monday to $11.74, after reporting preliminary third-quarter results and cutting its full-year outlook.

"Preliminary results reflect delays in wafer level burn-in system orders for semiconductor devices used in electric vehicles that have created a short-term gap in revenue and profitability," the company said in a statement.

For the third quarter, Aehr Test Systems now expects a loss of about $1.5 million to $1.8 million, or $0.05 to $0.06 per share. Excluding one-time items, adjusted loss is expected between $0.9 million and $1.2 million, or $0.03 and $0.04 per share.

For the full year, the company now sees revenue to be at least $65 million. Previously, it was expecting revenue between $75 million and $85 million.

Aehr Test Systems shares had closed at $14.66, down 1.41 percent on Friday. The stock has been trading in the range of $13.87 - $54.10 in the last 1 year.