AEM has revised its revenue projection for 2HFY2024 ending December to between $190 million and $210 million, a slight improvement from its previous guidance of between $160 million and $180 million.
The company partly attributes the slightly positive outlook to customers bringing forward some orders originally meant for FY2025 to 4QFY2024.
To improve its performance, AEM plans to tap on its ongoing R&D efforts so as to offer new services, such as the most recent AMPS platform that features the industry’s first fully automated high-throughput burn-in capability.
AEM claims this platform, which is on track to be deployed at a customer's site in late 2024, offers extensive test coverage in a cost-effective manner while accelerating their time to market.
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Taking a broader view, AEM observes that the semiconductor industry remains split, with the AI-centric portion continuing its "positive momentum".
On the other hand, the market that is the aggregate of other segments such as those for smartphones, automotive, traditional compute, and industrial is facing headwinds from a slower-than-expected recovery.
AEM CEO Amy Leong says the company has made significant strides in both operational performance and profitability.
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"We are inspired by our customers’ enthusiasm for our differentiated new products and remain dedicated to achieving robust growth through continuous innovation, close collaboration with our strategic customers, and an unremitting drive for improved operational efficiency," she adds.
AEM shares closed at $1.39, up 6.92% for the day.
