09:30 AM EDT, 03/25/2024 (MT Newswires) -- Aehr Test Systems' ( AEHR ) shares were sinking in recent Monday premarket activity, dropping nearly 20% after the semiconductor testing and burn-in equipment manufacturer warned its fiscal Q3 and 2024 financial results will likely lag analyst projections for the respective periods.

For its Q3 ended Feb. 29, Aehr is now expecting to report a non-GAAP net loss of $0.04 to $0.03 per share on around $7.6 million in revenue.

Two analysts polled by Capital IQ are looking for Q3 non-GAAP net income of $0.13 on $14.3 million in revenue.

For fiscal 2024, the company sees non-GAAP net income of $0.48 on at least $65 million in revenue.

Analysts expect non-GAAP earnings of $0.77 and revenue of $77.4 million.

Aehr is scheduled to report its Q3 results on April 9.

Price: 11.8, Change: -2.86, Percent Change: -19.51