Aehr Test Systems (NASDAQ:AEHR) Q4 2020 Earnings Conference Call - Final Transcript

Jul 16, 2020 • 05:00 pm ET

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Aehr Test Systems (NASDAQ:AEHR) Q4 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

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

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

Executive
Jim Byers

Thank you, operator. Good afternoon, and welcome to Aehr Test Systems Fiscal 2020 Fourth Quarter and Full Year Financial Results Conference Call. With me on today's call are Aehr Test Systems President and CEO, 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 fiscal 2020 fourth quarter and full year 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 can be archived on the -- will be archived on the Investor Relations page of the Company'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 and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These 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.

Now with that said, I'd like to turn the call over to Gayn Erickson, President and Chief Executive Officer. Gayn?

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 our fourth quarter and full year financial results later in the call. But first, I'd like to spend a few minutes discussing our business and product highlights, including our continued progress with our wafer-level and singulated die test and burn-in solutions, and then we'll open it up for your questions.

This past fiscal year, we made substantial progress with our new FOX products that strengthened our customer base, expanded our markets and enhanced our operations and sales capabilities to capitalize on the significant market opportunities we see at Aehr. While we were on track to meet our expected guidance for fiscal 2020, due to the challenging global environment and uncertainty around the COVID pandemic, we experienced pushouts of customer forecasted orders in our second fiscal half of our -- for our FOX-P systems and consumables in data center and some 5G end-use applications for silicon photonics transceivers. These customers have indicated the pushouts are temporary and that they'll require the additional system capacity and consumables in the current fiscal 2021 year.

We'll cover the details supporting our optimism but want to quickly state that we are reinstating guidance