05:08 AM EDT, 10/11/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Aehr Test Systems ( AEHR ) shares were up over 11% in premarket activity Friday after the company reported overnight a smaller-than-expected decline in fiscal Q1 earnings and revenue based on estimates from two analysts in a Capital IQ survey.

The company reported late Thursday fiscal Q1 non-GAAP earnings Thursday of $0.07 per diluted share, down from $0.18 a year ago.

Two analysts polled by Capital IQ expected $0.02.

Net revenue for the quarter ended Aug. 30 was $13.1 million, down from $20.6 million a year earlier.

Two analysts surveyed by Capital IQ expected $12.2 million.

The company reiterated its fiscal 2025 revenue guidance of at least $70 million.

Two analysts polled by Capital IQ expect $71.2 million.

Price: 14.90, Change: +1.58, Percent Change: +11.86