AEM Holdings Ltd (SGX: AWX) had some positive news to share this morning.
The test solutions provider announced that its next-generation Automated Burn-in (ABI) test system has been selected by a major fabless provider for high-performance compute (HPC) and artificial intelligence (AI) semiconductor chips.
Deliveries are expected to commence later this year.
The news could not come sooner as shares had fallen by a third over the past year and recently touched a 52-week low of S$2.09.
Does the group see any light at the end of the tunnel?
A downbeat set of earnings
AEM’s 2023 results were in line with the downturn in the semiconductor sector.
Revenue tumbled 45% year on year to S$481.3 million as more customers held back on testing as budgets were cut.
Operating profit plunged by 91% year on year to S$13.8 million.
The group incurred a net loss of S$1.2 million for 2023, a sharp reversal from the net profit of S$126.8 million a year ago....
