Why Aehr Test Systems Stock Is Plummeting Today
Aehr Test Systems (NASDAQ: AEHR) stock is seeing huge sell-offs in Tuesday's trading. The company's share price was down 25.5% as of 11:35 a.m. ET. Meanwhile, the S 500 index was flat and the Nasdaq Composite index was down 0.1%.
After the market closed yesterday, Aehr published results for the second quarter of its current fiscal year -- which ended Nov. 29. In addition to sales and earnings performance for the period coming in below expectations, the company also issued forward guidance that disappointed Wall Street.
Aehr posted non-GAAP (adjusted) earnings per share of $0.02 on sales of $13.45 million in its second quarter. Unfortunately, the average Wall Street estimate had called for the business to deliver an adjusted profit of $0.03 per share on revenue of $15.03 million. Revenue in the period was down roughly 37% year over year, and earnings per share were down roughly 91% compared to the prior-year period.
Source Fool.com
