Aehr Test Systems ( AEHR ) shares are trading higher after the company reported its second-quarter financial results Tuesday. Here's a look at the key figures from the report. 

The Details: Aehr reported quarterly earnings of 84 cents per share which beat the analyst consensus estimate of 10 cents by 740%.

Quarterly sales came in at $16.6 million, which beat the analyst consensus estimate of $15.442 million by 7.5%. Bookings were $4 million for the quarter and backlog as of May 31, 2024, was $7.3 million. Effective backlog, which includes all orders received since the end of the fourth quarter, is $20.8 million.

“Our full-year revenue and net income results exceeded our previously provided guidance and surpassed analyst consensus. Although we saw customer pushouts of silicon carbide devices due to slower electric vehicle (EV) demand in the second half of our fiscal year, we achieved another record year for annual revenue for Aehr,” said Gayn Erickson, president and CEO of Aehr Test Systems ( AEHR ).

Read Next: What’s Going On With Upstart Stock?

Aehr also announced it has entered into a stock purchase agreement to acquire all of the outstanding capital stock of Incal Technology, Inc., a California-based, privately held manufacturer of packaged part reliability/burn-in test solutions used by a significant number of leading artificial intelligence (AI) semiconductor manufacturers.

Additionally, Aehr said it has received $12.7 million in orders from one of its silicon carbide test and burn-in customers for multiple sets of WaferPak full wafer contactors to be used for production needs for wafer level burn-in and screening of silicon carbide power semiconductors for the electric vehicle market.

Outlook: Aehr Test Systems ( AEHR ) sees fiscal year 2025 revenue of $70 million versus the $65.106 million consensus estimate.

AEHR Price Action: According to Benzinga Pro, Aehr Test Systems ( AEHR ) shares are up 14.01% after-hours at $19.20 at the time of publication Tuesday.

Read More: 

Solar Stocks Tumble Following Failed Assassination Of Trump: What’s Going On?