The company has kept its revenue guidance for the whole of FY2023 to be between $460 million and $490 million.
As at Sept 30, AEM’s net asset value (NAV) per share stood at $1.54, while its cash and cash equivalents came to $106.1 million.
“The test equipment market has been challenged this year,” says AEM’s CEO Chandran Nair. “We continue to invest in the technology pillars, which is resulting in a growing patent portfolio, that provides us with the technology differentiation that is highly sought after by our customers, and we firmly believe that we are well-positioned to take advantage of the market upswing expected in late 2024 and beyond.”
AEM has observed signs of stabilisation in the smartphone and PC markets have begun to emerge, with experts forecasting 2024 to be a year of growth for PCs and smartphones. Inventory levels are reducing across the board, and the semiconductor industry appears to be passing through the trough of the cycle, says the company.
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The company says it is investing prudently in R&D that will extend its technology differentiation and capture new opportunities related to advanced logic testing requirements. At the same time, it is selectively pursuing adjacent business opportunities that complement its core business.
Shares in AEM closed 4 cents or 1.14% down at $3.46 on Nov 9.
