Aehr Test Systems has a market cap of $10.5 million; its shares were traded at around $1.23 with and P/S ratio of 0.9. AEHR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations: The full wafer contact systems product category accounted for
approximately 65%, 82% and 86% of the Company's net sales in fiscal 2010, 2009
and 2008, respectively.
This packaged part systems product category accounted for approximately
35%, 17% and 12% of the Company's net sales in fiscal 2010, 2009 and 2008,
respectively.
Sales to the Company's five largest customers accounted for approximately
85%, 95%, and 98% of its net sales in fiscal 2010, 2009 and 2008,
respectively. During fiscal 2010, Spansion Inc., Micronas Semiconductor
Holding AG and Texas Instruments Incorporated accounted for approximately 55%,
12% and 11%, respectively, of the Company's net sales. During fiscal 2009 and
2008, one customer, Spansion Inc., or Spansion, accounted for approximately
80% of the Company's net sales. No other customers accounted for more than
10% of the Company's net sales for any of these periods. The Company expects
that sales of its products to a limited number of customers will continue to
account for a high percentage of net sales for the foreseeable future. In
addition, sales to particular customers may fluctuate significantly from
quarter to quarter. Such fluctuations may result in changes in utilization of
the Company's facilities
The semiconductor manufacturing industry is highly concentrated, with a
relatively small number of large semiconductor manufacturers and contract
assemblers accounting for a substantial portion of the purchases of
semiconductor equipment. Sales to the Company's five largest customers
accounted for approximately 85% and 95% of its net sales in fiscal 2010 and
2009, respectively. During fiscal 2010, Spansion, Micronas Semiconductor
Holding AG
and Texas Instruments Incorporated accounted for approximately 55%, 12% and
11%, respectively, of the Company's net sales. During fiscal 2009, one
customer, Spansion, accounted for approximately 80% of the Company's net
sales. No other customers represented more than 10% of the Company's net
sales for either fiscal 2010 or fiscal 2009.
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