Benzinga | Sep 24, 2021 11:19AM EDT

Why Aehr Test Systems Stock Is Making New 52-Week Highs Today

Aehr Test Systems (NASDAQ:AEHR) is trading higher Friday after the company announced better-than-expected first-quarter fiscal 2022 financial results.

Aehr Test Systems reported an adjusted quarterly earnings loss of 2 cents per share, which beat the estimate for a loss of 3 cents per share. The company reported quarterly revenue of $5.6 million, which beat the estimate of $5.12 million and represented an increase of 181% year-over-year.

"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," said Gayn Erickson, president and CEO of Aehr Test Systems.

Aehr Test Systems is engaged in test systems for burning-in and testing logic, optical and memory integrated circuits.

AEHR Price Action: Aehr Test Systems is making new 52-week highs in trading today.

The stock was up 36.20% at $16.04 at time of publication.