AEM Holdings

AEM Holdings > Add

CGS-CIMB, April 5

April 6 close: S$6.03

Target price: S$8.19

AS AT April 1, 2018, AEM said its sales orders received for delivery in FY18 increased to S$192 million. This represents a rise of 67 per cent over the last sales order update of S$115 million on Feb 1, 2018, and a 30 per cent increase over the sales order of S$148 million received on Apr 1 2017 for delivery in FY17.

During a conference call for clients, investors were able to get greater clarity on: a) AEM's earnings guidance; b) AEM's own guesstimate that its test handlers (TH) are not widely used in its major customer's PC related business yet; c) AEM's ability to offer a dumbed-down version of its TH to other customers; and d) AEM's belief that there is a chance its major customer could start to replace some of its legacy TH in FY18.

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