Hot stock: AEM falls as much as 19.2% after earnings miss

SHARES of AEM tumbled on Thursday (Aug 15), after the semiconductor test equipment maker posted a 95.4 per cent fall in net profit to S$895,000 for the first half of the fiscal year.

As at 10.03 am, the counter fell as much as 19.2 per cent or S$0.28 to S$1.18, with about 6.3 million securities changing hands. The last time it traded at such levels was in October 2019.

No married deals were recorded, ShareInvestor data showed.

The counter later eased to S$1.23, down 15.8 per cent or S$0.23, as at 2.53 pm on Thursday. Among the stocks on the bourse, shares of AEM were among the top 10 decliners at the time.

The company announced on Wednesday a 36.9 per cent year-on-year decline in revenue to S$173.6 million from S$275.2 million.

It attributed the fall in revenue to a 42.1 per cent decline in its test cell solutions segment revenue, due to weaker demand from the group’s key semiconductor customer.

AEM chief executive Amy Leong said the company was committed towards improving operational efficiency and operating expenses, and that she will share her plans for the company in November this year.