Aehr Test Systems Reports Financial Results for Second Quarter Fiscal 2013

Aehr Test Systems Reports Financial Results for Second Quarter Fiscal 2013

FREMONT, Calif., Jan. 9, 2013 (GLOBE NEWSWIRE) -- Aehr Test Systems
(Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in
equipment, today announced financial results for the second quarter of fiscal
2013 ended November 30, 2012.

Net sales were $5.1 million in the second quarter of fiscal 2013, compared
with $4.8 million in the first quarter of fiscal 2013. The Company reported a
net loss of $0.8 million, or $0.09 per diluted share, in the second quarter of
fiscal 2013. This compares to a net loss of $0.3 million, or $0.03 per diluted
share, in the first quarter of fiscal 2013.

Commenting on the results of the second quarter of fiscal 2013, Gayn Erickson,
President and CEO of Aehr Test Systems, said, "We once again improved our net
sales results, reflecting the progress we are continuing to make in addressing
new market segments and customers with our ABTS™ and FOX™ product lines.
However, our gross margin and bottom line were negatively impacted by a change
in product mix during the quarter."

Erickson continued, "During the quarter we were pleased to have received
acceptances on the first shipments of our new ABTS-P Advanced Burn-in and Test
System to three different customers. The new ABTS-P delivers to the test and
burn-in market a true per-pin architecture for timing, formats, voltages and
all I/O pins more commonly seen in the ATE functional test space. These
systems can test devices exceeding 70 watts and can control the test
temperature of every device in the chamber individually.This combination is
excellent for and is being used for testing and burning-in high performance
mobile processors used in smartphones, tablets and other high performance
logic devices.

"We announced this quarter that we received over $2 million in follow-on
production orders for our burn-in and test systems from multiple leading
manufacturers of advanced logic integrated circuits for automotive
applications," added Erickson."The automotive space, which continues to be
growing, and the advanced logic space represent attractive markets for Aehr
Test over the next several years.We also announced a partnership with
AllianceATE Consulting Group to add AllianceATE's VelocityCAE software as an
option to Aehr Test's burn-in and test systems.This partnership combines the
design-to-test capabilities of VelocityCAE with Aehr Test's test technology to
help meet the growing needs of the semiconductor industry for design for test
needs in both package and wafer level form."

Net sales were $9.9 million in the first six months of fiscal 2013 compared
with $8.0 million in the first six months of fiscal 2012.Net loss for the six
months ended November 30, 2012 was $1.1 million, or $0.12 per diluted share,
compared with a net loss of $1.2 million, or $0.14 per diluted share, in the
same period of the prior fiscal year.The Company's net income for the first
six months of fiscal 2012 included a gain of $990,000 from the sale of its
investment in ESA Electronics PTE Ltd.

Erickson concluded, "As mentioned last quarter, we began to see a slowdown in
spending by some of our customers.While some customers have pushed out
forecasts, others are pushing us to expedite development of new systems and
new applications.We are therefore focusing our resources to take advantage of
those opportunities, while continuing to maintain tight control on
expenses.To that end, we have taken additional steps to lower overhead with a
reduction in personnel in certain areas of our business where we are seeing
lower demand.We have included one-time charges related to these restructuring
costs in this quarter's financials and we expect to see lower costs related to
these moves in our financials moving forward.We continue to be optimistic
about Aehr Test's future and feel we are in a great position to benefit from
the long term industry trends in test, burn-in, and Design For Test."

Management Conference Call

Management of Aehr Test will host a conference call and webcast today, January
9, 2013 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's
second quarter fiscal 2013 operating results. The conference call will be
accessible live via the internet at Please go to the website at
least 15 minutes before start time to register, download and install any
necessary audio software. A replay of the webcast will be available at for 90 days.

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 products in package and wafer
level test. Aehr Test has developed and introduced several innovative
products, including the ABTS and FOX families of test and burn-in systems and
the DiePak® carrier. The ABTS system is used in production and qualification
testing of packaged parts 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 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 DiePak carrier is
a reusable, temporary package that enables IC manufacturers to perform
cost-effective final test and burn-in of bare die. For more information,
please visit the Company's website at

Safe Harbor Statement

This release contains forward-looking statements that involve risks and
uncertainties relating to projections regarding revenues, net sales and
customer demand and acceptance of Aehr Test's products. Actual results may
vary from projected results. These risks and uncertainties include without
limitation, world economic conditions, the state of the semiconductor
equipment market, the Company's ability to maintain sufficient cash to support
operations, acceptance by customers of Aehr Test's technologies, acceptance by
customers of the systems shipped upon receipt of a purchase order, the ability
of new products to meet customer needs or perform as described and the
Company's ability to successfully market a wafer-level test and burn-in
system. See Aehr Test's recent 10-K, 10-Q and other reports from time to time
filed with the U.S. Securities and Exchange Commission for a more detailed
description of the risks facing our business. The Company disclaims any
obligation to update information contained in any forward-looking statement to
reflect events or circumstances occurring after the date of this press

                        - Financial Tables to Follow –

Condensed Consolidated Statements of Operations
(in thousands, except per share data)
                         Three Months Ended            Six Months Ended
                         Nov 30,   Aug 31,   Nov 30,    Nov 30,    Nov 30,
                         2012      2012      2011       2012       2011
Net sales                 $5,054  $4,832  $3,860   $9,886   $7,990
Cost of sales            2,791     2,376     2,732      5,167      5,060
Gross profit              2,263     2,456     1,128      4,719      2,930
Operating expenses:                                             
Selling, general and      2,068     1,789     1,528      3,857      3,129
Research and development  962       930       1,039      1,892      2,121
Total operating expenses  3,030     2,719     2,567      5,749      5,250
Loss from operations      (767)     (263)     (1,439)    (1,030)    (2,320)
Interest expense          (13)     (12)     --       (25)      --
Gain on sale of long-term --      --      --       0          990
Other (expense) income,   (15)      (19)      58         (34)       46
Loss before income tax    (795)     (294)     (1,381)    (1,089)    (1,284)
expense (benefit)
Income tax expense        16        2         (8)        18         (35)
Net loss                  (811)     (296)     (1,373)    (1,107)    (1,249)
Less:Net income
attributable to the       --      --      --       --       --
noncontrolling interest
Net loss attributable to
Aehr Test Systems common  $(811)  $(296)  $(1,373) $(1,107) $(1,249)
Net loss per share                                              
Basic                     $(0.09) $(0.03) $(0.15)  $(0.12)  $(0.14)
Diluted                   $(0.09) $(0.03) $(0.15)  $(0.12)  $(0.14)
Shares used in per share                                        
Basic                     9,300     9,166     8,980      9,233      8,956
Diluted                   9,300     9,166     8,980      9,233      8,956

Reconciliation of GAAP and Non-GAAP Results
(in thousands, except per share data)
                   Three Months Ended                  Six Months Ended
                   Nov 30,     Aug 31,     Nov 30,     Nov 30,     Nov 30,
                   2012        2012        2011        2012        2011
GAAP net loss       $(811)    $(296)    $(1,373)  $(1,107)  $(1,249)
Gain on sale of
long-term           --        --        --        --        (990)
investment ^1
Stock based
compensation        99          127         172         226         337
Non-GAAP net loss   $(712)    $(169)    $(1,201)  $(881)    $(1,902)
GAAP net loss per   $(0.09)   $(0.03)   $(0.15)   $(0.12)   $(0.14)
diluted share
Non-GAAP net loss   $(0.08)   $(0.02)   $(0.13)   $(0.10)   $(0.21)
per diluted share
Shares used in
diluted shares      9,300       9,166       8,980       9,233       8,956

1 During the first quarter of fiscal 2012, the Company sold its long-term
investment in ESA Electronics PTE Ltd., resulting in a gain of $990,000.

Non-GAAP net income is a non-GAAP measure and should not be considered a
replacement for GAAP results.Non-GAAP net income is a financial measure the
Company uses to evaluate the underlying results and operating performance of
the business.The limitation of this measure is that it excludes items that
impact the Company's current period net income.This limitation is best
addressed by using this measure in combination with net income (the most
comparable GAAP measure).

Condensed Consolidated Balance Sheets
(in thousands, except per share data)
                                                Nov 30,   Aug 31,   May 31,
                                                2012      2012      2012
Current assets:                                                    
Cash and cash equivalents                        $1,192  $1,901  $2,073
Accounts receivable, net                         2,899     2,558     2,588
Inventories                                      6,444     6,710     6,070
Prepaid expenses and other                       390       326       197
Total current assets                             10,925    11,495    10,928
Property and equipment, net                      358       439       510
Other assets                                     169      174      175
Total assets                                     $11,452 $12,108 $11,613
LIABILITIES AND SHAREHOLDERS' EQUITY                               
Current liabilities:                                               
Line of credit                                   $1,685  $1,452  $1,408
Accounts payable                                 1,461     2,001     1,507
Accrued expenses                                 1,611     1,580     1,385
Deferred revenue                                 594       393       555
Total current liabilities                        5,351     5,426     4,855
Income tax payable                               114       112       125
Deferred lease commitment, net of current        142       161       179
Total liabilities                                5,607     5,699     5,159
Aehr Test Systems shareholders' equity           5,867     6,431     6,476
Noncontrolling interest                          (22)      (22)      (22)
Total shareholders' equity                       5,845     6,409     6,454
Total liabilities and shareholders' equity       $11,452 $12,108 $11,613

CONTACT: Gary Larson
         Chief Financial Officer
         (510) 623-9400 x321
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