Aehr Test Systems

Manufacturing & Industrial Technology equipment microelectronics semiconductors signal processing testing

Headquartered in Fremont, California, Aehr Test Systems is a worldwide supplier of systems for burning-in and testing memory and logic integrated circuits and has an installed base of more than 2,500 systems worldwide. Aehr Test has developed and introduced several innovative products, including the ABTS, FOXTM and MAX systems and the DiePak® carrier. The ABTS system is Aehr Test’s newest system for packaged part test during burn-in for both low-power and high-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system. The MAX system can effectively burn-in and functionally test complex devices, such as digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die.

Company Growth (employees)

Type

Public

HQ

Fremont, US

Founded

1977

Size (employees)

76 (est)

Website

Aehr Test Systems was founded in 1977 and is headquartered in Fremont, US

Key People at Aehr Test Systems

Gayn Erickson

Gayn Erickson

President & CEO

Gary L. Larson

Gary L. Larson

VP of Finance and CFO

David Hendrickson

David Hendrickson

VP of Engineering

Carl N. Buck

Carl N. Buck

VP of Marketing

Rhea Posedel

Rhea Posedel

Executive Chairman

Aehr Test Systems Office Locations

Aehr Test Systems has offices in Fremont, Shanghai, Utting am Ammersee, Hachioji and in 5 other locations

Fremont, US (HQ)

400 Kato Terrace

Chennai, IN

208/5 Golden George Nagar Mugappair East

Singapore, SG

Blk 16, Kallang Place #05 10/15 Kallang Basin Industrial Estate

Suwon Si, KR

#306, Factory World 3 F, 274 Samseoug Ro Yeongtong Gu

Orange, US

2167 N Grandview Rd

Shanghai, CN

Room N., Floor 6, No. 1590 Yan’an West Rd.

Aehr Test Systems Data and Metrics

Aehr Test Systems Financial Metrics

Aehr Test Systems's revenue was reported to be $2.7 m in Q3, 2017

Summary

USD

Aehr Test Systems's current market capitalization is $69.7 m.

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016
Revenue	19.7 m	10 m	14.5 m
Revenue growth, %		(49%)	45%
Cost of goods sold	9.5 m	6.2 m	9.4 m
Gross profit	10.2 m	3.8 m	5.1 m
Gross profit Margin, %	52%	38%	35%
R&D expense			4.3 m
General and administrative expense			7 m
Operating expense total	9.7 m	10.5 m	11.3 m
EBIT	497 k	(6.7 m)	(6.2 m)
EBIT margin, %	3%	(67%)	(42%)
Interest expense	26 k	130 k	605 k
Income tax expense	15 k	(34 k)	(10 k)
Net Income	422 k	(6.6 m)	(6.8 m)

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2015	Q1, 2015	Q2, 2015	Q3, 2016	Q1, 2016	Q2, 2016	Q3, 2017
Revenue	3.6 m	2.6 m	2 m	6.6 m	4.6 m	1.7 m	5.3 m	4.2 m	2.7 m
Cost of goods sold	1.9 m	1.9 m	1.2 m	3.3 m	2.9 m	1.5 m	3.1 m	2.8 m	2.2 m
Gross profit	1.6 m	694 k	852 k	3.4 m	1.7 m	169 k	2.2 m	1.5 m	503 k
Gross profit Margin, %	45%	27%	42%	51%	37%	10%	41%	35%	19%
R&D expense	959 k	1.1 m	1 m	1.1 m	923 k	1.3 m	1.1 m	1 m	1.2 m
General and administrative expense	1.6 m	1.7 m	1.6 m	1.8 m	1.7 m	1.7 m	1.7 m	1.7 m	1.7 m
Operating expense total	2.6 m	2.8 m	2.6 m	2.9 m	2.6 m	3 m	2.8 m	2.7 m	3 m
EBIT	(973 k)	(2.1 m)	(1.8 m)	476 k	(945 k)	(2.8 m)	(570 k)	(1.3 m)	(2.5 m)
EBIT margin, %	(27%)	(82%)	(87%)	7%	(20%)	(168%)	(11%)	(30%)	(92%)
Interest expense	(14 k)	(8 k)	(7 k)	(135 k)	(137 k)	(165 k)	(178 k)	(181 k)	(178 k)
Pre tax profit							(751 k)
Income tax expense	49 k	(19 k)	(66 k)	(23 k)	(21 k)	33 k	(4 k)	(30 k)	(2 k)
Net Income	(907 k)	(2.1 m)	(1.7 m)	294 k	(1 m)	(3 m)	(755 k)	(1.5 m)	(2.7 m)

Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016
Cash	1.8 m	5.5 m	939 k
Accounts Receivable	3.4 m	1.4 m	522 k
Inventories	6.1 m	7.1 m	7 m
Current Assets	11.7 m	14.3 m	8.7 m
PP&E	474 k	478 k	1.2 m
Total Assets	12.2 m	14.9 m	10 m
Accounts Payable	1.9 m	724 k	1.4 m
Current Liabilities	5.1 m	6.5 m	4.7 m
Total Liabilities			10.8 m
Additional Paid-in Capital	52.1 m	56.5 m	58.1 m
Retained Earnings	(47.7 m)	(54.3 m)	(61.1 m)
Total Equity	7 m	4.6 m	(723 k)
Financial Leverage	1.7 x	3.3 x	-13.9 x

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2015	Q1, 2015	Q2, 2015	Q3, 2016	Q1, 2016	Q2, 2016	Q3, 2017
Cash	2.1 m	3.6 m	2.3 m	3.7 m	2 m	2.5 m	2.3 m	5.2 m	2 m
Accounts Receivable	2.1 m	1.4 m	597 k	2.6 m	2.5 m	1.9 m	1.8 m	1.4 m	1.6 m
Inventories	6.3 m	6 m	6.9 m	7.3 m	7.4 m	7.4 m	6 m	6.1 m	7.2 m
Current Assets	10.8 m	11.3 m	10.2 m	14 m	12.3 m	12.1 m	10.5 m	13 m	11.2 m
PP&E	492 k	538 k	502 k	465 k	576 k	1.3 m	789 k	793 k	861 k
Total Assets	11.4 m	12 m	10.7 m	14.6 m	12.9 m	13.4 m	11.3 m	13.9 m	12.2 m
Accounts Payable	1.6 m	1.8 m	1.6 m	1.8 m	1.4 m	1.9 m	1.9 m	1.8 m	1.8 m
Current Liabilities	4.8 m	4.5 m	4.8 m	5.2 m	4.2 m	7.4 m	6 m	4.2 m	4.7 m
Additional Paid-in Capital	52.7 m	55.7 m	56 m	57.1 m	57.6 m	57.8 m	58.8 m	64.6 m	64.9 m
Retained Earnings	(48.6 m)	(50.7 m)	(52.4 m)	(54 m)	(55.1 m)	(58.1 m)	(61.9 m)	(63.3 m)	(66 m)
Total Equity	6.6 m	7.5 m	5.9 m	5.4 m	4.8 m	2 m		3.6 m	1.3 m
Financial Leverage	1.7 x	1.6 x	1.8 x	2.7 x	2.7 x	6.6 x		3.8 x	9.4 x

Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016
Net Income	422 k	(6.6 m)	(6.8 m)
Depreciation and Amortization	141 k	135 k	203 k
Accounts Receivable	(720 k)	1.8 m	887 k
Inventories	(740 k)	(1 m)	70 k
Accounts Payable	707 k	(850 k)	564 k
Cash From Operating Activities	(607 k)	(2.3 m)	(6.3 m)
Purchases of PP&E	(339 k)	(118 k)	(919 k)
Cash From Investing Activities	(289 k)	(118 k)	(919 k)
Cash From Financing Activities	391 k	6.4 m	2.5 m
Interest Paid	27 k	130 k	302 k
Income Taxes Paid	44 k	26 k	47 k

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2015	Q1, 2015	Q2, 2015	Q3, 2016	Q1, 2016	Q2, 2016	Q3, 2017
Net Income	(907 k)	(2.1 m)	(1.7 m)	294 k	(1 m)	(3 m)	(755 k)	(1.5 m)	(2.7 m)
Accounts Receivable	2.1 m	1.4 m	597 k	2.6 m	2.5 m	1.9 m	1.8 m	1.4 m	1.6 m
Inventories	6.3 m	6 m	6.9 m	7.3 m	7.4 m	7.4 m	6 m	6.1 m	7.2 m
Accounts Payable	1.6 m	1.8 m	1.6 m	1.8 m	1.4 m	1.9 m	1.9 m	1.8 m	1.8 m

Ratios

Aehr Test Systems Market Value History

Market Position of Aehr Test Systems

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