Aehr Test Systems (NASDAQ:AEHR) Q1 2020 Earnings Conference Call Transcript

Oct 03, 2019 • 05:00 pm ET

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Aehr Test Systems (NASDAQ:AEHR) Q1 2020 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, and welcome to the Aehr Test Systems First Quarter Fiscal 2020 Financial Results Call. [Operator Instructions]

At this time, I would like to turn the conference over to Mr. Jim Byers of MKR Investor Relations. Please go ahead, sir.

Executive
Jim Byers

Thank you, operator. Good afternoon and welcome to Aehr Test Systems' first quarter fiscal 2020 financial results conference call. With me on today's call are Aehr Test Systems' President and Chief Executive Officer, Gayn Erickson; and Chief Financial Officer, Ken Spink.

Before I turn the call over to Gayn and Ken, I'd like to cover a few quick items. This afternoon, Aehr Test issued a press release announcing its first quarter fiscal 2020 results. That release is available on the Company's website at aehr.com. This call is being broadcast live over the Internet for all interested parties and the webcast will be archived in the Investor Relations page of Aehr Test's website.

I'd like to remind everyone that on today's call, management will be making forward-looking statements today that are based on current information and estimates that are subject to a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

Those factors that may cause results to differ materially from those in the forward-looking statements are discussed in the Company's most recent periodic and current reports filed with the SEC. These forward-looking statements, including guidance provided during today's call, are only valid as of this date and Aehr Test Systems undertakes no obligation to update the forward-looking statements.

And now I'd like to turn the conference call over to Gayn Erickson, President and Chief Executive Officer.

Executive
Gayn Erickson

Thanks, Jim, and good afternoon to those joining us on today's conference call and also listening online. Ken will go over the first quarter financial results later in the call, but first I'll spend a few minutes discussing our business and product highlights, including our continued progress with our FOX-P platform for wafer level and singulated die and module test and burn-in. Then, we'll open up the lines for your questions.

While our revenue in the fiscal first quarter was lower on a sequential basis, it was in line with the expectations that we discussed on last quarter's call for a slower first quarter. We continue to expect to see a pickup in momentum in the remaining quarters of this fiscal year and are seeing continued growth in customer engagements worldwide, particularly for high-growth applications that include photonics, silicon carbide, automotive and memory. This includes several new customer opportunities on our -- in our existing markets, as well as customer engagement opportunities to penetrate new markets.

We're excited to have announced last week an initial order from a new customer for our FOX-XP system to enable high volume wafer level production test and burn-in of the customer's line of silicon carbide devices. This new customer is a Fortune 500 supplier of semiconductor devices with a significant customer base in the automotive semiconductor market and