RTTNews | Sep 24, 2021 10:53AM EDT

10:53 Friday, September 24, 2021 (RTTNews.com) - Shares of Aehr Test Systems (AEHR) are surging more than 35% in the morning trade on Friday after reporting more than 180% revenue growth in the first quarter. The company also had record bookings in the quarter.

Further, Aehr raised its annual revenue outlook by 80% to at least $50 million. Analysts polled by Thomson Reuters expect revenue of $28.42 for the period.

Net sales for the first quarter increased 181% year-over-year to $5.6 million.

The company reported net income of $696,000, or $0.03 per share in the first quarter compared with $107,000, or breakeven per share, in the same quarter a year ago.

Excluding items, loss was $0.02 per share, that beat the consensus estimate of analysts polled by Thomson Reuters at $0.03 loss per share.

"We are off to a strong start for fiscal 2022, finishing the first quarter with record bookings for a single quarter of $20.7 million. Since the end of the quarter, we have announced an additional $19.4 million in bookings, bringing our total bookings for the fiscal year to over $40 million as of today's date," Gayn Erickson, President and CEO of Aehr Test Systems.

AEHR touched a new high of $16.38 this morning before slipping to trade at $15.96.

Read the original article on RTTNews ( https://www.rttnews.com/3228153/aehr-test-systems-soars-on-180-revenue-growth-better-outlook.aspx)

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