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AEM reports 3QFY2022 earnings of $32.2 million, up 38.3%

The Edge Singapore
The Edge Singapore11/4/2022 07:09 PM GMT+08  • 2 min read
AEM reports 3QFY2022 earnings of $32.2 million, up 38.3%
"The semiconductor industry is entering an interesting time," says AEM
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Semiconductor tester AEM Holdings has reported earnings of $32.2 million for 3QFY2022, up 38.3 y-o-y. Revenue in the same period was up 41% to $206.1 million.

With these 3Q numbers, the company’s earnings for 9MFY2022 has increased by 117.6% y-o-y to $115.3 million, on the back of a 120.6% increase in revenue to $746.6 million.

AEM attributes the growth in top and bottom line were achieved on the back of a volume ramp up from new and existing customers for its system level testing handlers. Contributions from CEI, which AEM acquired in March 2021, helped too.

According to AEM, the industry is entering “an interesting time” with near term recessionary concerns counter-balanced with unprecedented mid-term government-backed capital
investments globally.

“While we remain cognizant of near-term risks given the recessionary concerns, we believe that the mid- to long-term outlook remains strong,” says CEO Chandran Nair.

“Our conviction is further strengthened by customers’ feedback and their confidence in placing our solutions in the critical path of their next generation product launches.

See also: Shangri-La Asia announced a smaller loss in FY2022

“Given our success with our key customer and recent program wins with new customers, we continue to invest in R&D to release industry-leading Test 2.0 platforms. We also remain
diligent in managing our costs and production efficiency,” he adds.

AEM shares closed at $3.35 on Nov 4, up 3.72% for the day, but down 36.07% year to date.

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