Why Aehr Test Systems Stock Zoomed 18% Higher Today
The stock of Aehr Test Systems (NASDAQ: AEHR) tested extremely well on the market Friday, soaring more than 18% in value. Investors were clearly impressed by the company's freshly issued fourth-quarter earnings report, featuring headline numbers that topped analyst estimates.
Aehr unveiled those figures just after market hours on Thursday, leading with the tidbit that it booked all-time highs in both revenue and net profit for fiscal 2023.
In the fourth quarter, the company earned $22.3 million in net sales, which was almost 10% higher compared to the same period of fiscal 2022. Adjusted net income also rose, landing at $6.8 million ($0.23 per share) from the year-ago profit of $6.5 million. Both of those results also set records.
Source Fool.com
