- Aehr Test Systems (NASDAQ:AEHR) shares are trading lower Friday following the release of its third-quarter FY23 results.
- Aehr reported Q3 net sales growth of 13% year-on-year to $17.2 million, beating the consensus of $16.0 million.
- Bookings were $33.3 million, the highest quarterly bookings in the company’s history.
- Adjusted EPS of $0.16 beat the consensus of $0.14.
- Aehr reiterated its FY23 revenue guidance of $60 million – $70 million (consensus $65.17 million).
- On March 28, 2023, CFO Kenneth B. Spink shared his plans to retire after the end of the current fiscal year-end reporting.
- Aehr has initiated a search to identify a new CFO. To facilitate an orderly transition, Spink intends to remain at the company.
- During the quarter, the company received gross proceeds totaling $7.3 million on the sale of 208,917 shares at an average price of $34.78 per share, and $17.7 million remains available under its At-The-Market (ATM).
- Price Action: AEHR shares traded lower by 13.49% at $32.20 on the last check Friday.
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