04:38 PM EDT, 04/09/2024 (MT Newswires) -- Aehr Test Systems ( AEHR ) reported a fiscal Q3 non-GAAP net loss late Tuesday of $0.03 per diluted share, compared with non-GAAP income of $0.16 per share a year earlier.

One analyst polled by Capital IQ expected a loss of $0.03.

Net revenue for the quarter ended Feb. 29 was $7.6 million, down from $17.2 million a year earlier.

One analyst surveyed by Capital IQ expected $7.6 million.

The company said the Q3 results reflected delays in wafer level burn-in system orders for silicon carbide semiconductor devices used in electric vehicles.

For fiscal 2024 ending May 31, Aehr reiterated its outlook for revenue of more than $65 million and EPS of about $0.38. Two analysts surveyed by Capital IQ expect revenue of $65.1 million.

The shares were falling more than 1% in after-hours trading.

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