Aehr Test Systems (AEHR) 2020 Q4 法說會逐字稿

Good day, and welcome to the Aehr Test Systems Fiscal 2020 Fourth Quarter and Full Year Financial Results Call.

美好的一天，歡迎參加 Aehr Test Systems 2020 財年第四季度和全年財務業績電話會議。

Today's conference is being recorded.

今天的會議正在錄製中。

At this time, I would like to turn the conference over to Mr. Jim Byers of the MKR Group.

這次，我想把會議交給MKR集團的Jim Byers先生。

Please go ahead, sir.

請繼續，先生。

Thank you, operator.

謝謝你，接線員。

Good afternoon, and welcome to Aehr Test Systems Fiscal 2020 Fourth Quarter and Full Year Financial Results Conference Call.

下午好，歡迎參加 Aehr Test Systems 2020 財年第四季度和全年財務業績電話會議。

With me on today's call are Aehr Test Systems President and CEO, Gayn Erickson; and Chief Financial Officer, Ken Spink.

參加今天電話會議的有 Aehr Test Systems 總裁兼首席執行官 Gayn Erickson；和首席財務官肯斯平克。

Before I turn the call over to Gayn and Ken, I'd like to cover a few quick items.

在將電話轉給蓋恩和肯之前，我想簡單介紹一下一些內容。

This afternoon, Aehr Test issued a press release announcing its fiscal 2020 fourth quarter and full year results.

今天下午，Aehr Test 發布新聞稿，公佈了 2020 財年第四季度和全年業績。

That release is available on the company's website at aehr.com.

該版本可在該公司網站 aehr.com 上獲取。

This call is being broadcast live over the Internet for all interested parties, and the webcast can be archived on the -- will be archived on the Investor Relations page of the company's website.

此次電話會議正在通過互聯網向所有感興趣的各方進行現場直播，網絡廣播可以存檔在公司網站的投資者關係頁面上。

I'd like to remind everyone that on today's call management will be making forward-looking statements today that are based on current information and estimates and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

我想提醒大家，在今天的電話會議上，管理層將根據當前信息和估計做出前瞻性聲明，並受到許多風險和不確定性的影響，這些風險和不確定性可能導致實際結果與預期結果存在重大差異。前瞻性陳述。

These factors that may cause results to differ materially from those in the forward-looking statements are discussed in the company's most recent periodic and current reports filed with the SEC.

這些可能導致結果與前瞻性陳述中的結果存在重大差異的因素在公司向美國證券交易委員會提交的最新定期報告和當前報告中進行了討論。

These forward-looking statements, including guidance provided during today's call, are only valid as of this date and Aehr Test Systems undertakes no obligation to update the forward-looking statements.

這些前瞻性陳述，包括今天電話會議期間提供的指導，僅在當前日期有效，Aehr Test Systems 不承擔更新前瞻性陳述的義務。

Now with that said, I'd like to turn the call over to Gayn Erickson, President and Chief Executive Officer.

話雖如此，我想將電話轉給總裁兼首席執行官蓋恩·埃里克森 (Gayn Erickson)。

Gayn?

蓋恩？

Thanks, Jim, and good afternoon to those joining us on today's conference call and also listening online.

謝謝吉姆，祝那些參加今天電話會議並在線收聽的人們下午好。

Ken will go over our fourth quarter and full year financial results later in the call.

肯將在稍後的電話會議中討論我們第四季度和全年的財務業績。

But first, I'd like to spend a few minutes discussing our business and product highlights, including our continued progress with our wafer-level and singulated die test and burn-in solutions, and then we'll open it up for your questions.

但首先，我想花幾分鐘討論我們的業務和產品亮點，包括我們在晶圓級和單一芯片測試以及老化解決方案方面的持續進展，然後我們將開放回答您的問題。

This past fiscal year, we made substantial progress with our new FOX products that strengthened our customer base, expanded our markets and enhanced our operations and sales capabilities to capitalize on the significant market opportunities we see at Aehr.

在過去的財年中，我們在新的FOX 產品方面取得了實質性進展，這些產品增強了我們的客戶群，擴大了我們的市場，並增強了我們的運營和銷售能力，以充分利用我們在Aehr 看到的重大市場機會。

While we were on track to meet our expected guidance for fiscal 2020, due to the challenging global environment and uncertainty around the COVID pandemic, we experienced pushouts of customer forecasted orders in our second fiscal half of our -- for our FOX-P systems and consumables in data center and some 5G end-use applications for silicon photonics transceivers.

雖然我們有望達到 2020 財年的預期指引，但由於全球環境充滿挑戰以及新冠疫情的不確定性，我們在下半年的財年中經歷了客戶預測訂單的推遲——我們的 FOX-P 系統和數據中心和一些5G 最終用途應用中矽光子收發器的消耗品。

These customers have indicated the pushouts are temporary and that they'll require the additional system capacity and consumables in the current fiscal 2021 year.

這些客戶表示，推出是暫時的，他們將在當前的 2021 財年需要額外的系統容量和消耗品。

We'll cover the details supporting our optimism but want to quickly state that we are reinstating guidance and expect FY '21 full year revenue to be between $25 million and $28 million, up 12% to 26%, and to be profitable for the year.

我們將介紹支持我們樂觀情緒的細節，但希望快速聲明我們正在恢復指導，並預計21 財年全年收入將在2500 萬美元至2800 萬美元之間，增長12% 至26%，並且今年將實現盈利。

With the increase in number of customers in production using our systems, the new market opportunities we added with new customers this year, our move to our higher-margin FOX systems and consumables and the completion of our previously announced restructuring and sales enhancements this past year, going forward, we are well positioned to address our new market opportunities and are now profitable at a much lower revenue level.

隨著使用我們系統的生產客戶數量的增加、今年我們與新客戶一起增加的新市場機會、我們轉向利潤率更高的 FOX 系統和耗材以及去年我們之前宣布的重組和銷售增強的完成展望未來，我們已做好充分準備來應對新的市場機遇，並且現在可以以低得多的收入水平實現盈利。

Let me walk you through some of the key business highlights for this last quarter and for the last fiscal year as we outlined in our earnings release.

正如我們在收益報告中概述的那樣，讓我向您介紹上一季度和上一財年的一些關鍵業務亮點。

First highlight, we closed a new order with a major new customer in silicon photonics.

第一個亮點是，我們與硅光子學領域的一個主要新客戶簽訂了一份新訂單。

During the quarter, Aehr closed an initial order with a new customer that is a major global leader of communication transceivers for data centers, telecom and 5G infrastructure for our FOX full wafer-level test and burn-in system for production stabilization and test of their silicon photonics devices.

本季度，Aehr 與一位新客戶達成了初步訂單，該客戶是數據中心、電信和5G 基礎設施通信收發器的全球主要領導者，為我們的FOX 全晶圓級測試和老化系統提供生產穩定和測試矽光子器件。

This new customer is deploying our FOX-NP system for initial production burn-in and stabilization of their high-performance silicon photonics devices and is forecasted to then transition to our FOX-XP wafer-level test and burn-in systems during this fiscal year 2021 to meet their volume production forecast.

該新客戶正在部署我們的 FOX-NP 系統，用於其高性能矽光子器件的初始生產老化和穩定性，預計將在本財年過渡到我們的 FOX-XP 晶圓級測試和老化系統2021 年滿足其量產預測。

We categorize this customer as a Tier 1 customer, which we define as a customer with the resources and market size to be able to purchase $6 million to $10 million per year or more of our systems and consumables.

我們將該客戶歸類為一級客戶，我們將其定義為擁有資源和市場規模，能夠每年購買 600 萬至 1000 萬美元或更多我們的系統和耗材的客戶。

The next highlight is we closed an initial order with the world's largest OSAT.

下一個亮點是我們與全球最大的 OSAT 達成了初步訂單。

During the quarter, we closed an initial order with the world's largest outsourced semiconductor assembly and test supplier to use the FOX-P family of products, including Aehr WaferPaks and DiePaks for production tests, burn-in and reliability screening of devices at full wafer, singulated die and module.

本季度，我們與全球最大的外包半導體組裝和測試供應商達成了初步訂單，使用 FOX-P 系列產品，包括 Aehr WaferPaks 和 DiePaks，用於全晶圓設備的生產測試、老化和可靠性篩選，單個芯片和模塊。

They have already added our system to their list of tools and capabilities in their marketing and sales material to their customers.

他們已經將我們的系統添加到他們向客戶提供的營銷和銷售材料中的工具和功能列表中。

And we have begun some cross-marketing and sales activities with them.

我們已經開始與他們進行一些交叉營銷和銷售活動。

Stay tuned for more updates and announcements.

請繼續關注更多更新和公告。

Next, Aehr added a key new market with the addition of wafer-level burn-in of silicon carbide devices.

接下來，Aehr 增加了一個重要的新市場，即碳化矽器件的晶圓級預燒。

This year, we successfully took the initial order for and installed our first production capacity for silicon carbide devices, including it to the list of markets such as silicon photonics, 2D and 3D sensors, automotive, lasers used in photonics devices and have shown the value and feasibility of using our FOX solutions to address these market needs.

今年，我們成功獲得了碳化矽器件的首筆訂單並建成了第一批產能，將其納入矽光子、2D和3D傳感器、汽車、光子器件中使用的激光器等市場名單，並展示了價值以及使用我們的FOX 解決方案來滿足這些市場需求的可行性。

The initial system order was for our FOX multi-wafer system with proprietary WaferPaks configured to test 18 wafers in parallel at up to 1,000 watts of power per wafer.

最初的系統訂單是針對我們的 FOX 多晶圓系統，該系統配備專有的 WaferPaks，配置為並行測試 18 個晶圓，每個晶圓的功率高達 1,000 瓦。

And the customer is using it for 100% production burn-in and infant mortality screening of silicon carbide devices at wafer level.

客戶正在使用它對晶圓級碳化矽器件進行 100% 生產老化和嬰兒死亡率篩查。

This new silicon carbide application with a Fortune 500 market leader in silicon carbide and power modules adds a significant new Tier 1 customer of our FOX-XP system and WaferPaks to whole wafer burn-in and infant mortality screening of silicon carbide devices.

這種新的碳化矽應用是碳化矽和電源模塊領域的財富500 強市場領導者，為我們的FOX-XP 系統和WaferPaks 的碳化矽器件的全晶圓老化和嬰兒死亡率篩查增加了一個重要的新一級客戶。

Since our initial installation in January, we've received multiple follow-on orders for additional WaferPaks from this customer, including multiple new designs, and now have a significant number of different devices that have been released into production.

自一月份首次安裝以來，我們已收到該客戶的多份後續訂單，要求額外購買 WaferPaks，其中包括多種新設計，現在有大量不同的設備已投入生產。

This customer is forecasting additional capacity needs for our FOX-XP systems during this fiscal year and for years into the future.

該客戶預測我們的 FOX-XP 系統在本財年和未來幾年內需要額外的容量。

The silicon carbide market, semiconductor device market is growing at a tremendous rate with a unit growth of high-power devices of over 50% CAGR per Yole Research from 2019 to 2025.

碳化矽市場、半導體器件市場正在以驚人的速度增長，根據 Yole Research，從 2019 年到 2025 年，高功率器件的單位複合年增長率將超過 50%。

Silicon carbide is a very impressive material for high-power, in particular, high-voltage devices for applications such as the needs of electric and hybrid electric vehicle powertrains, electric vehicle charging infrastructure, IT data center power supplies and renewable energy power conversions, such as wind, solar as well as power storage.

碳化矽是一種非常令人印象深刻的高功率材料，特別是用於電動和混合動力電動汽車動力系統、電動汽車充電基礎設施、IT 數據中心電源和可再生能源電力轉換等應用的高壓設備。如風能、太陽能以及儲能。

These devices have shown reduction in power losses as much as 78%, and many articles have been written about the first mainstream use of silicon power devices that were in the Tesla Model 3, which enabled much longer driving range per charge.

這些設備的功率損耗降低了 78%，並且許多文章都介紹了特斯拉 Model 3 中首次主流使用的矽功率設備，該設備每次充電可實現更長的行駛里程。

This has basically changed the market with most, if not, every electric vehicle, hybrid electric vehicle automotive company, moving to silicon carbide-based powertrain and charging system.

這基本上改變了市場，大多數（如果不是每家）電動汽車、混合動力電動汽車汽車公司都轉向基於碳化矽的動力總成和充電系統。

What challenges the reliability of silicon carbide, it's known to have high infant mortality rates.

眾所周知，碳化矽的嬰兒死亡率很高，這對它的可靠性提出了挑戰。

But after a reliability burn-in screening, these defects can be completely removed to provide extremely reliable devices for these mission-critical applications.

但經過可靠性老化篩選後，這些缺陷可以完全消除，從而為這些關鍵任務應用提供極其可靠的設備。

Aehr is able to provide a complete solution for one of the key reliability screening tests on an entire wafer of devices all at one time while testing and monitoring every device for failures during the burn-in process to provide critical information on devices so they're not later packaged into multidie modules where the yield impact is 10x or 100x as costly.

Aehr 能夠為整個器件晶圓上的關鍵可靠性篩選測試之一提供完整的解決方案，同時在老化過程中測試和監控每個器件的故障，以提供有關器件的關鍵信息，以便它們能夠稍後再封裝成多芯片模塊，其產量影響是成本的10 倍或100 倍。

The Yole Research has forecasted over 600 million yielded power MOSFET 20 amp-equivalent devices shipping per year by 2025, equates to over 0.5 million wafer starts per year, which creates an enormous opportunity for our wafer-level and singulated die systems given the long durations required to burn in the devices and to remove the defective parts.

Yole Research 預測，到2025 年，每年出貨的功率MOSFET 20 安培等效器件將超過6 億個，相當於每年超過50 萬個晶圓啟動，鑑於持續時間較長，這為我們的晶圓級和單片芯片系統創造了巨大的機會需要燒毀設備並去除有缺陷的部件。

Burn-in times can be as long as days per wafer.

每個晶圓的老化時間可能長達數天。

So even at our industry-leading 18 wafer per system capacity FOX-XP, that's a significant number of systems.

因此，即使採用我們行業領先的每系統 18 片晶圓容量 FOX-XP，這也是一個相當大的系統數量。

The next highlight is pretty important.

下一個亮點非常重要。

In fiscal '20, we saw the industry adopt production wafer-level burn-in.

在 20 財年，我們看到該行業採用了生產晶圓級老化。

We made significant progress with our new FOX products for wafer and singulated die test and burn-in during the fiscal year with 2 Tier 1 customers added and 5 customers transitioning to production with 100% stabilization of infant mortality screening with our FOX systems.

在本財年中，我們在晶圓和單一芯片測試和老化方面的新FOX 產品取得了重大進展，增加了2 家一級客戶，5 家客戶過渡到生產，利用我們的FOX 系統實現了嬰兒死亡率篩查100% 的穩定。

We saw our silicon photonics customers move to production for the first time in just this last fiscal 2020.

就在 2020 年最後一個財年，我們看到我們的矽光子客戶首次投入生產。

During the fiscal year, we saw our lead customers support silicon photonics move to full volume production.

在本財年中，我們看到我們的主要客戶支持矽光子技術轉向全面量產。

We expect them to purchase additional systems this fiscal year and into the future as they continue to maintain or grow their market share and add additional silicon photonics devices to the mix.

我們預計他們將在本財年和未來購買更多系統，因為他們將繼續保持或擴大其市場份額，並在產品組合中添加更多矽光子器件。

We also made 3 additional silicon photonics customers to production with our FOX systems in fiscal '20.

在 20 財年，我們還新增了 3 個矽光子客戶，使用我們的 FOX 系統進行生產。

All 3 of these customers are expected to ramp production during this fiscal '21 as well, adding capacity in both systems and consumables.

預計所有這 3 個客戶也將在本財年 21 世紀提高產量，增加系統和消耗品的產能。

And near the fiscal year-end, we announced yet another new silicon photonics customer that is deploying our FOX-NP system for initial production burn-in and stabilization of their high-performance silicon photonics devices and is forecasted to then transition to our FOX-XP multi-wafer systems during the fiscal 2021 to meet their volume production forecast.

臨近財年末，我們宣布又一個新的矽光子客戶正在部署我們的 FOX-NP 系統，用於其高性能矽光子器件的初始生產老化和穩定，預計隨後將過渡到我們的 FOX-NP 系統。 XP多晶圓系統將在2021 財年實現量產預期。

Silicon photonics devices are highly integrated silicon-based semiconductors that have embedded or integrated the nonsilicon-based laser transmitters and receivers to enable a smaller, lower cost, higher reliable alternative to traditional fiberoptic transceivers.

矽光子器件是高度集成的矽基半導體，嵌入或集成了非矽基激光發射器和接收器，以實現傳統光纖收發器的更小、成本更低、可靠性更高的替代方案。

Historically, fiberoptic transceivers are made up of many different logic ICs, multiplexers, demuxers, external discrete lasers and receivers into a mechanical package that is used in data center and telecommunication infrastructure.

從歷史上看，光纖收發器由許多不同的邏輯 IC、多路復用器、多路分配器、外部分立激光器和接收器組成，形成一個機械封裝，用於數據中心和電信基礎設施。

Basically, this has been the high-speed transmission lines for long-haul and data center to data center back point of the Internet.

基本上，這是用於長途和數據中心到數據中心互聯網後端點的高速傳輸線路。

However, these fiberoptic transceivers have been extremely difficult and expensive to build.

然而，這些光纖收發器的建造極其困難且昂貴。

This has been seen as a limiter to the adoption of fiberoptic transmission of data and to the maximum data rates and transmission in the data centers that store the world's data.

這被視為採用光纖數據傳輸以及存儲全球數據的數據中心的最大數據速率和傳輸的限制因素。

Yole Research has stated that market leaders like Intel, Cisco, Luxtera, Broadex, Inphi and Acacia are setting the standards for 100-, 200-, 400- and even 800-gigabyte transceiver standards based on transceivers with fully integrated silicon photonics devices, while many other companies are also jumping into this exploding market.

Yole Research 表示，英特爾、思科、Luxtera、Broadex、Inphi 和 Acacia 等市場領導者正在基於完全集成矽光子器件的收發器製定 100、200、400 甚至 800 GB 收發器標準，同時許多其他公司也紛紛進入這個爆炸性的市場。

One of the key claims of these transceivers are their lower manufacturing costs and their ability to scale manufacturing due to the full wafer-level integration of these devices, which brings the scale of semiconductor manufacturing to fiberoptic communication for the first time in history.

這些收發器的主要特點之一是其較低的製造成本以及由於這些器件的完全晶圓級集成而能夠擴大製造規模，這在歷史上首次將半導體製造規模引入光纖通信。

Where Aehr fits in is that these devices all need to have their photonics transmitters stabilized under high power and temperature and also customers use our cut systems to screen for infant mortality of these devices to ensure high initial quality and long-term reliability.

Aehr 適合的地方是，這些設備都需要在高功率和溫度下穩定其光子發射器，並且客戶使用我們的切割系統來篩查這些設備的嬰兒死亡率，以確保較高的初始質量和長期可靠性。

This is a manufacturing step done on 100% of the die.

這是 100% 芯片上完成的製造步驟。

And in the case of silicon photonics, we provide a much more cost-effective and scalable solution for this step and doing this equivalent stabilization and screening after the die are put into the final PCB substrate and package.

就矽光子學而言，我們為此步驟提供了更具成本效益和可擴展的解決方案，並在將芯片放入最終的 PCB 基板和封裝後進行等效的穩定和篩選。

The silicon photonics market is growing at a CAGR of 42% between 2019 and '25 to a $3.6 billion annual market, and we believe that the entire industry will transition to wafer-level of singulated die for this critical manufacturing step, which is where our FOX-P products stand alone as the most cost-effective solution for this, and a portfolio of patents and IP in this area.

矽光子市場在2019 年至25 年間以42% 的複合年增長率增長，年市場規模達到36 億美元，我們相信整個行業將過渡到這一關鍵製造步驟的晶圓級單一芯片，這就是我們的目標FOX-P 產品是該領域最具成本效益的解決方案，也是該領域的專利和知識產權組合。

We estimate that the market opportunity for wafer stabilization and reliability of screening equipment and contactors for silicon photonics is approximately $150 million by 2025, with well over 300 wafers of test capacity required by that time.

我們估計，到 2025 年，矽光子篩選設備和接觸器的晶圓穩定性和可靠性市場機會約為 1.5 億美元，屆時需要超過 300 片晶圓的測試能力。

Our FOX-XP production system is the only multi-wafer system available to test and burn in these high-power silicon photonics wafers in a single insertion, and we can test up to 9 2,000 watt wafers in parallel on a single system.

我們的 FOX-XP 生產系統是唯一可在單次插入中測試和燒錄這些高功率矽光子晶圓的多晶圓系統，我們可以在單個系統上並行測試多達 9 個 2,000 瓦晶圓。

So the total capacity needed by 2025 is about 35 of our 9 wafer FOX-XP systems, to put this in a perspective.

因此，從一個角度來看，到 2025 年所需的總產能約為 35 個我們的 9 晶圓 FOX-XP 系統。

Today, Aehr has shipped about 50 wafers of capacity into this application.

如今，Aehr 已將約 50 個晶圓產能運送到該應用中。

Interestingly, while fiscal '20 was the first year to see volume production in silicon photonics with wafer-level burn-in, FY '20 also saw second half pushouts in silicon photonics ramps.

有趣的是，雖然 20 財年是矽光子器件首次實現晶圓級預燒量產，但 20 財年下半年矽光子器件的產量也出現了增長。

We experienced pushouts from customer-forecasted orders in our second fiscal half of fiscal '20 for our FOX systems and consumables in data center and some 5G end-use applications for silicon photonics transceivers.

在 20 財年下半年，我們的 FOX 系統和數據中心消耗品以及矽光子收發器的一些 5G 最終用途應用程序經歷了客戶預測訂單的推出。

These customers, as I said before, have indicated the pushouts are temporary and they'll require additional system capacity and consumables in the current fiscal 2021 year.

正如我之前所說，這些客戶已表示推出是暫時的，他們將在當前的 2021 財年需要額外的系統容量和消耗品。

Our next highlight is shipments of consumables were a significant percentage of revenue this year.

我們的下一個亮點是消耗品的出貨量佔今年收入的很大一部分。

Shipments of our proprietary WaferPak contactors and DiePak carrier consumables for our FOX systems accounted for 48% of total revenue in fiscal '20.

用於 FOX 系統的專有 WaferPak 接觸器和 DiePak 載體耗材的出貨量佔 20 財年總收入的 48%。

In fiscal Q4, which we just ended, our consumable revenue was 79% of revenue as anticipated customer orders for systems did not materialize but customer demand for the consumables for the installed base systems held steady.

在我們剛剛結束的第四財季，我們的耗材收入佔收入的 79%，因為預期的客戶系統訂單並未實現，但客戶對已安裝基礎系統耗材的需求保持穩定。

As we stated in the past, historically, consumables can often soften any weakness in systems as customers contemplate new capacity but maintain and, in some cases, actually increase the need for new WaferPak contactors and DiePak carriers to get new designs or devices out to market.

正如我們過去所說，從歷史上看，當客戶考慮新產能時，消耗品通常可以軟化系統中的任何弱點，但維持甚至在某些情況下實際上增加了對新WaferPak 接觸器和DiePak 載體的需求，以便將新設計或設備推向市場。

In the semiconductor test industry, which was just over $9 billion total last year in 2019, it is made up of $3.7 billion in test systems; another $3.7 billion in consumables, such as probe cards for contacting wafers and sockets and back points for contacting packaged parts; and then another $1.7 billion of semiconductor device handling equipment in wafer and packaged form.

2019年半導體測試行業的總規模剛剛超過90億美元，其中包括37億美元的測試系統；另外37億美元的消耗品，例如用於接觸晶圓和插座的探針卡以及用於接觸封裝部件的背點；然後是另外 17 億美元的晶圓和封裝形式的半導體器件處理設備。

With Aehr's FOX product line, we play actually in all 3 segments.

借助 Aehr 的 FOX 產品線，我們實際上涉足所有 3 個細分市場。

Our FOX systems serve the test systems market.

我們的 FOX 系統服務於測試系統市場。

Our WaferPaks and DiePaks serve the contactor consumables market, and our aligners in the FOX systems themselves that have the integrated thermal capabilities of a wafer prober are a turnkey solution for handling devices.

我們的 WaferPaks 和 DiePaks 服務於接觸器耗材市場，而我們的 FOX 系統中的對準器本身俱有晶圓探測器的集成熱功能，是處理設備的統包解決方案。

So the consumable business as a whole is approximately the same size and often higher than the systems business in down years in the overall semiconductor test business, again, both about $3.7 billion.

因此，在整個半導體測試業務中，耗材業務的整體規模大致相同，並且在經濟衰退時期往往高於系統業務，兩者都約為 37 億美元。

But for reliability and burn-in space, which we primarily play in, the consumables can be 2x to 4x the annual sale of systems as the systems typically are used for longer periods of time with annual needs from new contactors and consumables.

但對於我們主要關注的可靠性和老化空間而言，消耗品可能是系統年銷售額的 2 到 4 倍，因為系統通常使用較長時間，每年都需要新的接觸器和消耗品。

This is why we're confident that our consumable business is likely to exceed our overall systems business over time, even though both will grow in absolute dollars.

這就是為什麼我們有信心隨著時間的推移，我們的消耗品業務可能會超過我們的整體系統業務，儘管兩者的絕對值都會增長。

Okay.

好的。

Our next highlight is that Aehr is currently engaged with over a dozen new potential customers.

我們的下一個亮點是 Aehr 目前正在與十多個新的潛在客戶合作。

We're currently working with well over a dozen additional Tier 1 and Tier 2 customers that are considering using our products for high-market growth applications, including silicon photonics, silicon carbide, automotive and memory devices production burn-in.

目前，我們正在與十多個其他一級和二級客戶合作，他們正在考慮將我們的產品用於高市場增長應用，包括矽光子、碳化矽、汽車和存儲設備生產預燒。

While Tier 1 customers are seen as those with the opportunity to drive $6 million to $10 million or more in systems and consumables per year, our Tier 2 customers are considered to have the market share and applications to drive $1 million to $3 million per year or more.

雖然1 級客戶被視為有機會每年在系統和耗材方面推動600 萬至1000 萬美元或更多，但我們的2 級客戶被認為擁有每年推動100 萬至300 萬美元或更多的市場份額和應用程序。更多的。

Several of these companies are expected to place their orders this year with ramps in their production later in the fiscal year and/or the following fiscal year.

其中幾家公司預計將在今年下訂單，並在本財年晚些時候和/或下一個財年提高產量。

We see an increasing awareness on adoption rate that we believe could drive the majority of the market for silicon carbide as well as silicon photonics to move to wafer-level or singulated die burn-in within the next few years.

我們看到人們對採用率的認識不斷提高，我們相信這可能會推動碳化矽和矽光子學的大部分市場在未來幾年內轉向晶圓級或單一芯片老化。

Our final highlight is we -- in fiscal '20, we completed our planned restructuring and shift to higher-margin products.

我們的最後一個亮點是，在 20 財年，我們完成了計劃的重組並轉向利潤率更高的產品。

Aehr completed our previously announced restructuring and also moved to much higher-margin FOX systems and consumables during the fiscal year.

Aehr 完成了我們之前宣布的重組，並在本財年轉向了利潤率更高的 FOX 系統和消耗品。

We started this before the pandemic outbreak and completed it during the last few months.

我們在大流行爆發之前就開始了這項工作，並在過去幾個月內完成了這項工作。

As part of the previously announced planned restructuring, we completed the closure of our Japan subsidiary and also transitioned our European sales to third-party sales representatives late in the fiscal year.

作為先前宣布的重組計劃的一部分，我們完成了日本子公司的關閉，並在本財年末將我們的歐洲銷售移交給了第三方銷售代表。

We also added key marketing directors and made some additional structural changes to our sales force.

我們還增加了主要營銷總監，並對我們的銷售隊伍進行了一些額外的結構調整。

We believe these enhancements have already and will continue to both improve our efficiency and materially increase our sales activity and bookings going forward and increase our penetration of key customers in our target markets.

我們相信，這些增強功能已經並將繼續提高我們的效率，大幅增加我們未來的銷售活動和預訂量，並提高我們對目標市場主要客戶的滲透率。

We believe these changes position us for success for sales of our current products as well as additional new products planned for introduction this year.

我們相信這些變化使我們能夠成功銷售當前產品以及計劃今年推出的其他新產品。

We also have shifted to higher-margin, highly differentiated systems and consumables.

我們還轉向了利潤率更高、高度差異化的系統和消耗品。

As I noted in the last call, we've started to see some forecasts for renewed market demand for packaged part burn-in systems, particularly from customers who are asking us about our high-voltage capability and adding this capability to our packaged part systems.

正如我在上次電話會議中指出的那樣，我們已經開始看到對封裝零件老化系統新的市場需求的一些預測，特別是來自詢問我們的高壓功能並將此功能添加到我們的封裝零件系統中的客戶。

These changes in long-term forecasts reflect the move toward higher voltages and other requirements for devices in automotive -- automobiles, particularly with electric and hybrid automobiles and autonomous vehicle sensors.

長期預測的這些變化反映了汽車設備向更高電壓和其他要求的轉變——汽車，特別是電動和混合動力汽車以及自動駕駛汽車傳感器。

We expect to see a resurgence of packaged part burn-in systems orders from some specific ABTS system customers and to generate additional new opportunities with our planned introduction this fiscal year of a new packaged part burn-in system product that has a very high-voltage test capability.

我們預計，一些特定 ABTS 系統客戶的封裝部件老化系統訂單將會復蘇，並通過我們計劃在本財年推出具有非常高電壓的新封裝部件老化系統產品來創造更多新機會。測試能力。

We see the need for high-voltage capabilities in both wafer level and packaged part as a new high-growth opportunity for Aehr Test and expect to see sales from current customers resume and also add several new customers that include both Tier 1 and Tier 2 level customers for packaged part burn-in.

我們認為晶圓級和封裝部件對高電壓功能的需求是 Aehr Test 的一個新的高增長機會，並期望看到當前客戶的銷售恢復，並增加包括 1 級和 2 級在內的幾個新客戶客戶進行封裝零件老化。

At the same time, and as discussed last year, we had seen a significant drop-off in our packaged part product business as several of our customers have shifted their businesses or entirely closed product lines that were driving the need for test and burn-in using the high-power and high pin-count capabilities of our ABTS family of products.

與此同時，正如去年所討論的那樣，我們的封裝零件產品業務大幅下降，因為我們的一些客戶已經轉移了他們的業務或完全關閉了產品線，這推動了測試和老化的需求使用我們的ABTS系列產品的高功率和高引腳數功能。

In one specific case, a customer that had been buying multiple systems per year has all but shuttered a line of products, and we feel they are unlikely to take additional capacity of that particular configuration of systems that we had several systems of inventory left on hand when they dropped their forecast to 0.

在一個特定案例中，每年購買多個系統的客戶幾乎關閉了一系列產品，我們認為他們不太可能為我們手頭上剩下的多個庫存系統的特定係統配置提供額外的容量當他們將預測降至0 時。

Interestingly, this and several other customers have, at the same time, shifted their focus to other product lines particularly for automotive and other new applications that are expected to drive new needs in the future.

有趣的是，該客戶和其他幾家客戶同時將重點轉移到其他產品線，特別是汽車和其他預計將在未來推動新需求的新應用。

I've mentioned this specifically last quarter and noted that as a result, we were going to do a deep dive in our inventory for older products and configurations.

我在上個季度特別提到過這一點，並指出，因此，我們將深入研究舊產品和配置的庫存。

We decided it was prudent and appropriate to write down the inventory that we simply do not see a likelihood of selling in the foreseeable future, which resulted in a onetime charge this quarter of $1.6 million of inventory.

我們認為，減記在可預見的未來不可能出售的庫存是謹慎且適當的做法，這導致本季度一次性收取 160 萬美元的庫存費用。

This leaves us with significant inventory of systems and material that is in our near-term forecast, particularly in our FOX products, which also allows us to make short lead time shipments as well as leading significant revenue forecast without taking on additional inventory expenditures.

這使得我們在近期預測中擁有大量的系統和材料庫存，特別是在我們的 FOX 產品中，這也使我們能夠在短時間內發貨並領先於重大收入預測，而無需承擔額外的庫存支出。

Last year, we reported on the shipment of our new FOX-CP test and burn-in system to a major new Tier 1 customer for a very high-volume application for the enterprise and data center market with a planned build-out on this production ramp over the next several years.

去年，我們報導了我們的新型 FOX-CP 測試和老化系統已向一家主要的新一級客戶發貨，用於企業和數據中心市場的大批量應用，併計劃在此生產基礎上進行擴建未來幾年的增長。

The FOX-CP is our low-cost single-wafer compact test and reliability verification solution for the logic membrane photonic devices.

FOX-CP 是我們針對邏輯膜光子器件的低成本單晶圓緊湊型測試和可靠性驗證解決方案。

And their solution is comprised of a test system integrated with a wafer prober configured with a high-power thermal chuck that allows up to 2 kilowatts of testing and burning in of full wafers.

他們的解決方案由一個與晶圓探測器集成的測試系統組成，該探測器配置有高功率熱卡盤，允許高達 2 千瓦的測試和全晶圓的燒錄。

This customer has indicated they plan to begin their production ramp within our current fiscal year.

該客戶已表示他們計劃在我們當前的財政年度內開始提高產量。

And so we expect to begin additional shipments of test cells to them in the second half of this fiscal year.

因此，我們預計將在本財年下半年開始向他們額外運送測試電池。

We're very excited about this application, which is expected to drive very high volumes of devices and we believe will drive test system sales for several years.

我們對此應用感到非常興奮，預計它將推動大量設備的銷售，我們相信這將在未來幾年內推動測試系統的銷售。

Let me try and wrap this up.

讓我試著總結一下。

We added 2 key Tier 1 customers this past year.

去年我們增加了 2 個主要一級客戶。

We now have 5 significantly large Tier 1 customers, again, applications and market sizes that can drive $6 million to $10 million or more a year on our FOX wafer-level and singulated die test systems and consumables.

我們現在擁有 5 個非常大的一級客戶，同樣，我們的 FOX 晶圓級和單一芯片測試系統和耗材的應用和市場規模每年可以帶來 600 萬至 1000 萬美元或更多的收入。

We also have another 7 Tier 2 customers that are each capable of FOX product sales typically between $1 million and $3 million and sometimes more.

我們還有另外 7 個二級客戶，每個客戶的 FOX 產品銷售額通常在 100 萬至 300 萬美元之間，有時甚至更多。

In addition, 5 of our customers moved to production during the year using our FOX products for 100% stabilization and burn-in and infant mortality.

此外，我們的 5 家客戶在這一年中使用我們的 FOX 產品投入生產，以實現 100% 的穩定性、老化和嬰兒死亡率。

And we will be growing the list of both Tier 1 and Tier 2 customers this year in both wafer-level singulated die but also some packaged part markets and feel we can significantly grow these and new customers in the markets we're already serving.

今年，我們將在晶圓級單片芯片和一些封裝零件市場上增加一級和二級客戶名單，並認為我們可以在我們已經服務的市場中顯著增加這些客戶和新客戶。

Additionally, we will be adding new markets and enhancements to address some significantly large new markets later this fiscal year.

此外，我們將在本財年晚些時候添加新市場和增強功能，以應對一些非常大的新市場。

We're also seeing renewed activity and interest of our FOX systems and consumables for several new applications in the 2D and 3D sensor markets, particularly for mobile devices.

我們還看到人們對我們的 FOX 系統和耗材在 2D 和 3D 傳感器市場（特別是移動設備）中的多種新應用重新產生了興趣。

These sensors are becoming ubiquitous in smartphones, tablets and are forecasted to be adopted in laptops and computers as well.

這些傳感器在智能手機、平板電腦中變得無處不在，預計也將在筆記本電腦和電腦中採用。

The level of security associated with facial recognition far exceeds fingerprint-based biometrics and certainly greater than traditional keyboard-entry passwords.

與面部識別相關的安全級別遠遠超過基於指紋的生物識別技術，當然也高於傳統的鍵盤輸入密碼。

These new opportunities in 2D and 3D sensing are opportunities that could add significant upside to our currently forecasted revenue for this year and next but are not built into our current guidance.

2D 和 3D 傳感領域的這些新機遇可能會為我們目前預測的今年和明年的收入帶來顯著的增長，但並未納入我們當前的指導中。

Although COVID-19 has created challenges, such as international travel, some small impacts on our supply chain and created caution and/or delays with some customer production ramps, we believe that there is no long-term negative impact to Aehr to the demand for our products or for the attractiveness of the key markets that we serve.

儘管COVID-19 帶來了國際旅行等挑戰，對我們的供應鏈產生了一些小影響，並導致一些客戶的生產量增加導致謹慎和/或延遲，但我們認為，對Aehr 的需求不會產生長期負面影響。我們的產品或我們所服務的主要市場的吸引力。

We absolutely believe that we'll come out of this stronger than we went into this worldwide pandemic with more production customers, more applications and higher margins with higher value products.

我們絕對相信，我們會比這場全球大流行病更強大地走出困境，擁有更多的生產客戶、更多的應用程序和更高價值產品的更高利潤。

Our key customers' products are being used to build out new data centers, improve data rates and increase storage and data centers; build out the 5G infrastructure; enable the newest sensors and technology in smartphones and tablets; enable the widespread adoption of electric and hybrid electric vehicles and charging stations; and address the unstoppable demand for memory and data storage in computing data centers, mobile devices and hundreds of applications that are keeping the world connected.

我們的主要客戶的產品被用於建造新的數據中心、提高數據速率以及增加存儲和數據中心；建設5G基礎設施；在智能手機和平板電腦中啟用最新的傳感器和技術；促進電動和混合動力電動汽車及充電站的廣泛採用；並滿足計算數據中心、移動設備和數百個保持世界互聯的應用程序對內存和數據存儲的不可阻擋的需求。

As we move into fiscal 2021, we remain optimistic about growth in systems and consumables within our installed base of customers as well as expanding the number of customers with our family of FOX-P solutions.

隨著我們進入 2021 財年，我們對我們的客戶群中系統和消耗品的增長以及通過我們的 FOX-P 解決方案系列擴大客戶數量保持樂觀。

We expect significant growth in both our top and bottom lines moving forward with much lower fixed operating expenses and significantly higher-margin products and services.

我們預計，隨著固定運營費用大幅降低以及產品和服務利潤率顯著提高，我們的營收和利潤將顯著增長。

With that, let me turn it over to Ken before we open up the line for your questions.

那麼，在我們開通您的問題熱線之前，讓我將其轉交給肯。

Thank you, Gayn, and good afternoon, everyone.

謝謝蓋恩，大家下午好。

As Gayn mentioned, our fourth quarter results reflected the impact of the current challenging global business environment around the COVID pandemic and customers who pushed out forecasted orders during the second half of fiscal 2020.

正如 Gayn 提到的，我們第四季度的業績反映了當前因新冠疫情而充滿挑戰的全球商業環境以及客戶在 2020 財年下半年推出預測訂單的影響。

In our prior year call, we announced our 2 new FOX-NP customers and our new FOX-CP customers were expected to ramp to volume production during fiscal 2020 and add capacity, resulting in orders for FOX-XP systems and CP systems.

在上一年的電話會議中，我們宣布了2 個新的FOX-NP 客戶和新的FOX-CP 客戶預計將在2020 財年期間實現批量生產並增加產能，從而獲得FOX-XP 系統和CP 系統的訂單。

While these orders did not happen in the fiscal 2020 year just reported as their timing was pushed out by the customer, we are confident that these orders will occur in our current 2021 fiscal year.

雖然這些訂單並未在剛剛報告的 2020 財年發生，因為它們的時間被客戶推遲，但我們有信心這些訂單將在我們當前的 2021 財年發生。

It is important to note that through the third quarter of fiscal 2020, the company recognized revenues of $18.5 million or a little over $6 million per quarter and was profitable.

值得注意的是，截至 2020 財年第三季度，該公司確認收入為 1850 萬美元，即每季度略高於 600 萬美元，並且實現盈利。

This reflects the impact of the cost reduction initiatives announced in the prior year, effective fiscal 2020, and a change in product mix, which allows the company to be profitable at lower revenue levels.

這反映了上一年宣布的成本削減計劃、2020 財年生效以及產品組合變化的影響，這使得該公司能夠在較低的收入水平下實現盈利。

In the fourth quarter of fiscal 2020, revenues decreased significantly as there were no system revenues recognized during the quarter.

2020 財年第四季度，由於該季度沒有確認系統收入，收入大幅下降。

Now let me take you through our results.

現在讓我帶您看看我們的結果。

Net sales in the fourth quarter were $3.8 million compared to $6.1 million in the preceding third quarter and $7.2 million in the fourth quarter of the previous year.

第四季度的淨銷售額為 380 萬美元，而上一季度的淨銷售額為 610 萬美元，去年第四季度的淨銷售額為 720 萬美元。

The decrease from Q3 includes a decrease in wafer-level burn-in revenues of $2.2 million, primarily due to a decrease in wafer-level burn-in system revenues of $2.1 million.

較第三季度的下降包括晶圓級老化收入減少 220 萬美元，主要是由於晶圓級老化系統收入減少 210 萬美元。

The decrease from Q4 last year included a decrease in wafer-level burn-in revenues of $3.3 million, primarily due to a decrease of $3.6 million in wafer-level burn-in system revenues and a decrease in customer service revenues of $206,000.

較去年第四季度的下降包括晶圓級老化收入減少330萬美元，主要是由於晶圓級老化系統收入減少360萬美元以及客戶服務收入減少206,000美元。

Non-GAAP net loss for the fourth quarter was $720,000 or $0.03 per diluted share compared to non-GAAP net income of $452,000 or $0.02 per diluted share in the preceding quarter and a non-GAAP net income of $428,000 or $0.02 per diluted share in the fourth quarter of the previous year.

第四季度非GAAP 淨虧損為720,000 美元，即稀釋後每股0.03 美元，而上一季度非GAAP 淨利潤為452,000 美元，即稀釋後每股0.02 美元，本季度非GAAP 淨利潤為428,000 美元，即稀釋後每股0.02 美元。去年第四季度。

The non-GAAP results exclude the impact of stock-based compensation expense, restructuring charges and write-down of excess and obsolete inventory.

非公認會計原則的結果不包括基於股票的補償費用、重組費用以及超額和過時庫存的減記的影響。

On a GAAP basis, net loss for the fourth quarter was $2.9 million, or $0.13 per diluted share, which includes the impact of approximately $1.9 million or $0.08 per share in inventory write-down and restructuring charges taken in the quarter.

按照 GAAP 計算，第四季度淨虧損為 290 萬美元，或攤薄後每股虧損 0.13 美元，其中包括本季度庫存減記和重組費用約 190 萬美元，即每股 0.08 美元的影響。

This compares to GAAP net income of $245,000 or $0.01 per diluted share in the preceding quarter and GAAP net income of $110,000 or $0.00 per diluted share, which includes the impact of $118,000 or $0.01 per share in restructuring charges in the fourth quarter of the prior year.

相比之下，上一季度的GAAP 淨利潤為245,000 美元，即稀釋後每股0.01 美元，而上一季度的GAAP 淨利潤為110,000 美元，即稀釋後每股0.00 美元，其中包括上一年第四季度重組費用118,000 美元，即每股0.01 美元。

Excess and obsolete inventory reserves of $1.6 million were taken in Q4 '20 related to slow moving and obsolete packaged part burn-in product inventory, legacy FOX inventory and down rev FOX-P products and subsystems.

20 年第 4 季度，我們採取了 160 萬美元的超額和過時庫存儲備，涉及緩慢移動和過時的封裝零件老化產品庫存、傳統 FOX 庫存以及降級 FOX-P 產品和子系統。

The $220,000 restructuring charge consisted of severance payments and associated legal fees for individuals impacted by the closure of our subsidiary in Japan and a reduction in headcount in our German subsidiary.

220,000 美元的重組費用包括因日本子公司關閉和德國子公司人數減少而受到影響的個人的遣散費和相關法律費用。

As noted in our last call, we will be moving to a sales rep distributorship model for sales in these regions.

正如我們在上次電話會議中所指出的，我們將轉向銷售代表分銷模式在這些地區進行銷售。

Gross loss in the fourth quarter was $93,000 or 2% of sales compared to a gross profit of $3 million or 49% of sales in the preceding third quarter and gross profit of $3.4 million or 47% of sales in the fourth quarter of the previous year.

第四季度的毛虧損為93,000 美元，佔銷售額的2%，而上一季度的毛利潤為300 萬美元，佔銷售額的49%，去年第四季度的毛利潤為340 萬美元，佔銷售額的47% 。

The sequential and year-over-year decrease in gross margin is primarily due to the impact of the $1.6 million excess and obsolete inventory provision in Q4, accounting for a 44% -- point margin impact during the quarter.

毛利率環比和同比下降主要是由於第四季度 160 萬美元的超額和過時庫存撥備的影響，佔該季度 44% 的點利潤率影響。

In addition, gross margin was unfavorably impacted due to higher unabsorbed overhead cost to the cost of sales due to lower revenue levels in the fourth quarter.

此外，由於第四季度收入水平較低，銷售成本中未吸收的間接費用較高，因此毛利率受到不利影響。

As we've noted on prior calls, our WaferPak and DiePak revenues are accounting for a more significant portion of our overall revenues, favorably impacting our gross margins as they maintain higher margins in our system or pass-through products.

正如我們在之前的電話會議中指出的那樣，我們的WaferPak 和DiePak 收入占我們總收入的更重要部分，這對我們的毛利率產生了有利的影響，因為它們在我們的系統或直通產品中保持了較高的利潤率。

In the fourth quarter, our WaferPak and DiePak consumable business accounted for 79% of total revenues, up from 51% in the preceding Q3 and 36% in Q4 of last year, providing a favorable direct material margin impact for the company.

第四季度，我們的 WaferPak 和 DiePak 耗材業務佔總收入的 79%，高於上一季度的 51% 和去年第四季度的 36%，為公司帶來了有利的直接實質性利潤影響。

Operating expenses in the fourth quarter were $2.7 million, flat compared to the preceding third quarter and down $508,000 from $3.3 million in the fourth quarter last year.

第四季度運營費用為 270 萬美元，與上一季度持平，比去年第四季度的 330 萬美元減少了 508,000 美元。

While Q4 '20 was flat to the preceding quarter, a decrease in SG&A of $217,000 was partially offset by the restructuring charges of $220,000 taken in the quarter.

雖然 20 年第 4 季度與上一季度持平，但 SG&A 減少 217,000 美元，部分被本季度採取的 220,000 美元重組費用所抵消。

The decrease in operating expenses from prior year fourth quarter is primarily due to restructuring actions taken during -- taken in the prior year related to reduced costs.

營業費用較上年第四季度減少主要是由於上年期間採取的與降低成本相關的重組行動。

SG&A was $1.7 million for the fourth quarter compared to $1.9 million in the preceding third quarter and $2 million in the prior year fourth quarter.

第四季度的SG&A 為170 萬美元，而去年第三季度的SG&A 為190 萬美元，去年第四季度的SG&A 為200 萬美元。

The decrease from Q3 is due primarily to lower labor-related costs, including lower salary expense and lower commissions from lower bookings and sales incentives in the fourth quarter.

較第三季度的下降主要是由於與勞動力相關的成本下降，包括工資支出下降以及第四季度預訂減少和銷售激勵措施帶來的佣金下降。

Savings resulted to closure of our Japan subsidiary and lower travel due to travel restrictions related to COVID 19.

我們關閉了日本子公司，並因與新冠病毒 (COVID-19) 相關的旅行限製而減少了旅行，從而實現了節省。

The decrease from prior year fourth quarter was primarily due to the impact of cost reduction initiatives in fiscal 2019.

較去年第四季度的下降主要是由於 2019 財年成本削減舉措的影響。

R&D expenses were $854,000 in the fourth quarter, flat compared to $845,000 in the preceding third quarter and down $266,000 from $1.1 million in the prior year fourth quarter.

第四季度的研發費用為 854,000 美元，與去年第三季度的 845,000 美元持平，比去年第四季度的 110 萬美元減少了 266,000 美元。

The decrease in R&D expenses from Q4 last year is primarily due to cost reduction initiatives in fiscal 2019 and lower R&D project materials.

研發費用較去年第四季度減少主要是由於2019財年的成本削減舉措以及研發項目材料的減少。

Now turning to results for the full fiscal year.

現在轉向整個財年的業績。

Net sales for fiscal 2020 were $22.3 million, up 6% from net sales of $21.1 million in fiscal 2019.

2020 財年的淨銷售額為 2230 萬美元，比 2019 財年的淨銷售額 2110 萬美元增長 6%。

The increase includes an increase in wafer-level burn-in revenues of $5.3 million, partially offset by a decrease in packaged parts revenues of $2.2 million and customer service revenues of $1.9 million.

這一增長包括晶圓級老化收入增加 530 萬美元，部分被封裝零件收入減少 220 萬美元和客戶服務收入減少 190 萬美元所抵消。

The decrease in packaged parts revenues is due to no ABTS system revenue in FY '20 compared to 3 ABTS systems sold in FY '19.

封裝件收入下降的原因是 20 財年沒有 ABTS 系統收入，而 19 財年售出了 3 個 ABTS 系統。

Fiscal 2020 net sales were comprised of $18.9 million in wafer-level burn-in revenue and $3.4 million in customer service revenue.

2020 財年淨銷售額包括 1890 萬美元的晶圓級預燒收入和 340 萬美元的客戶服務收入。

For the full fiscal 2020, system revenues accounted for 36% of revenues compared to 45% in fiscal 2019.

2020 財年整個財年，系統收入佔收入的 36%，而 2019 財年這一比例為 45%。

WaferPak and DiePak consumable revenues accounted for 48% of total revenue in FY '20 compared to 29% of revenues in FY '19.

WaferPak 和 DiePak 耗材收入佔 20 財年總收入的 48%，而 19 財年佔總收入的 29%。

Customer service revenues accounted for 15% of revenues in FY '20 compared to 25% of revenues in FY '19.

客戶服務收入佔 20 財年收入的 15%，而 2019 財年則佔收入的 25%。

Non-GAAP net loss for fiscal 2020 was $27,000 or $0.00 per diluted share compared to a non-GAAP net loss of $2.8 million or $0.13 per diluted share in fiscal 2019.

2020 財年非 GAAP 淨虧損為 27,000 美元，即稀釋後每股 0.00 美元，而 2019 財年非 GAAP 淨虧損為 280 萬美元，即稀釋後每股 0.13 美元。

While revenues increased by $1.2 million in FY '20 compared to FY '19, the non-GAAP bottom line improved by $2.8 million.

與 19 財年相比，20 財年的收入增加了 120 萬美元，但非 GAAP 利潤提高了 280 萬美元。

As noted earlier, this reflects the impact of cost reduction initiatives effective in fiscal 2020 and the change in product mix, which allowed the company to be profitable at lower revenue levels.

如前所述，這反映了 2020 財年有效的成本削減舉措以及產品組合變化的影響，這使得該公司能夠在較低的收入水平下實現盈利。

On a GAAP basis, net loss for the fiscal year was $2.8 million or $0.12 per diluted share, which includes the impact of approximately $1.9 million or $0.08 per share in inventory write-down and restructuring charges taken in Q4.

按照 GAAP 計算，本財年淨虧損為 280 萬美元，即稀釋後每股 0.12 美元，其中包括第四季度庫存減記和重組費用約 190 萬美元，即每股 0.08 美元的影響。

This compares to a GAAP net loss of $5.2 million or $0.23 per diluted share, which includes the impact of $1.5 million or $0.07 per share in inventory write-down and restructuring charges taken in fiscal 2019.

相比之下，GAAP 淨虧損為 520 萬美元或稀釋後每股 0.23 美元，其中包括 2019 財年庫存減記和重組費用的 150 萬美元或每股 0.07 美元的影響。

Gross profit for fiscal 2020 was $8.4 million or 38% of net sales compared to a gross profit of $7.6 million or 36% of net sales in fiscal 2019.

2020 財年的毛利潤為 840 萬美元，占淨銷售額的 38%，而 2019 財年的毛利潤為 760 萬美元，占淨銷售額的 36%。

The increase in gross margin percentage in FY '20 compared to the prior year is primarily due to lower direct material costs due to a change in product mix, partially offset by the impact of excess and obsolete charges in FY '20 compared to FY '19.

與上一年相比，20 財年毛利率百分比的增加主要是由於產品結構變化導致直接材料成本降低，部分被 20 財年與 19 財年相比超額和過時費用的影響所抵消。

Operating expenses for fiscal 2020 were $11.1 million, a decrease of $1.5 million or 12% from $12.6 million in fiscal 2019.

2020 財年的運營支出為 1110 萬美元，比 2019 財年的 1260 萬美元減少了 150 萬美元，降幅為 12%。

The decrease included a decrease in SG&A of $194,000, a decrease in R&D of $767,000 and a decrease in restructuring charges of $505,000.

減少的費用包括SG&A 減少194,000 美元、研發費用減少767,000 美元以及重組費用減少505,000 美元。

SG&A was $7.5 million in fiscal 2020, down from $7.7 million reported in fiscal 2019, primarily due to cost reduction initiatives in fiscal 2019.

2020 財年的銷售、行政管理費用為 750 萬美元，低於 2019 財年報告的 770 萬美元，這主要是由於 2019 財年的成本削減舉措。

R&D expenses were $3.4 million in fiscal 2020, down from $4.2 million in fiscal 2019.

2020 財年的研發費用為 340 萬美元，低於 2019 財年的 420 萬美元。

The decrease is primarily due to cost reduction initiatives in fiscal 2019 and lower R&D material expenses.

這一下降主要是由於 2019 財年的成本削減舉措和研發材料費用的降低。

Overall, the decrease in SG&A and R&D of $961,000 included $922,000 decrease in labor-related costs as a result of cost reduction initiatives implemented.

總體而言，SG&A 和研發費用減少了 961,000 美元，其中由於實施了成本削減舉措，勞動力相關成本減少了 922,000 美元。

Turning to the balance sheet for the fourth quarter, our cash and cash equivalents were $5.4 million, up $375,000 compared to $5.1 million at the end of the preceding quarter.

轉向第四季度的資產負債表，我們的現金和現金等價物為 540 萬美元，比上一季度末的 510 萬美元增加了 375,000 美元。

Accounts receivable at quarter end was $3.7 million, an increase of $206,000 compared to $3.5 million at the preceding quarter end due to the impact of customer deposits and deferred revenue on current quarter revenues.

由於客戶存款和遞延收入對本季度收入的影響，季度末應收賬款為 370 萬美元，較上季度末的 350 萬美元增加了 206,000 美元。

Inventories at May 31 were $8 million compared to $9.3 million at the preceding quarter end.

截至 5 月 31 日的庫存為 800 萬美元，而上一季度末的庫存為 930 萬美元。

The $1.3 million decrease is primarily due to the $1.6 million E&O inventory provision taken in Q4 '20.

減少 130 萬美元主要是由於 20 年第 4 季度提取的 160 萬美元 E&O 庫存撥備。

Property and equipment was $663,000 compared to $783,000 at the preceding quarter end.

財產和設備為 663,000 美元，而上一季度末為 783,000 美元。

Customer deposits and deferred revenue, short-term and long-term, were $192,000, a decrease of $227,000 compared to $419,000 at the preceding quarter end, primarily due to the decrease in backlog from the prior quarter.

短期和長期客戶存款和遞延收入為 192,000 美元，比上一季度末的 419,000 美元減少 227,000 美元，主要是由於上一季度積壓訂單減少。

Our current and long-term debt of $1.7 million is related to funds we received during the fourth quarter under the Paycheck Protection Program, or PPP, which we announced in an 8-K filing in late April.

我們 170 萬美元的當前和長期債務與我們在第四季度根據薪資保護計劃 (PPP) 收到的資金有關，我們在 4 月底的 8-K 文件中宣布了該計劃。

We expect over $1.4 million up to the full loan balance to be forgiven under the provisions of the CARES Act.

我們預計根據《CARES 法案》的規定，將免除超過 140 萬美元的全部貸款餘額。

Bookings in the fourth quarter totaled $2.6 million.

第四季度的預訂總額為 260 萬美元。

Backlog at May 31 was $2.5 million compared to $3.6 million at the end of the preceding quarter and $7.5 million at the end of the fourth quarter of the prior year.

截至 5 月 31 日，積壓訂單為 250 萬美元，而上一季度末為 360 萬美元，去年第四季度末為 750 萬美元。

Now turning to our outlook for fiscal 2021.

現在轉向我們對 2021 財年的展望。

For our fiscal 2021 year ended May 31, 2021, we expect full year total revenue of between $25 million and $28 million, which will represent growth between 12% and 26% year-over-year and to be profitable for the year.

對於截至 2021 年 5 月 31 日的 2021 財年，我們預計全年總收入在 2500 萬美元至 2800 萬美元之間，同比增長 12% 至 26%，並實現盈利。

As a requirement to receive funding under the CARES Act, the company is required to use the funds from the PPP loan to retain employees and maintain payroll.

作為根據《CARES 法案》獲得資金的要求，公司必須使用 PPP 貸款的資金來留住員工並維持工資。

While our revenues and backlog have decreased from the impact of the current challenging global business environment around the COVID pandemic, the company has made no headcount reductions.

雖然我們的收入和積壓訂單因當前新冠疫情全球商業環境充滿挑戰的影響而有所減少，但該公司並未裁員。

However, the company has taken actions to control spending through mandatory vacations, shutdown days and travel restrictions.

不過，該公司已採取行動，通過強制休假、停工日和旅行限制來控制支出。

This concludes our prepared remarks.

我們準備好的發言到此結束。

We're now ready to take your questions.

我們現在準備好回答您的問題。

Operator, please go ahead.

接線員，請繼續。

(Operator Instructions) We'll take our first question from Christian Schwab with Craig-Hallum.

（操作員說明）我們將回答 Christian Schwab 和 Craig-Hallum 提出的第一個問題。

This is Tyler on for Christian.

這是泰勒為克里斯蒂安配音的節目。

A couple of questions.

有幾個問題。

First, as we look into fiscal '21, could you help with any expectations for linearity quarter-to-quarter?

首先，當我們研究 21 財年時，您能否幫助我們對季度至季度的線性度做出任何預期？

Within that, are you expecting maybe some softness and some customer pushouts to continue in the first half?

其中，您是否預計上半年會繼續出現一些疲軟和一些客戶流失？

Or any customer orders or conversations with them that would give you any indication that the first half or the second half would be stronger or weaker would be helpful.

或者任何客戶訂單或與他們的對話都會給你任何跡象表明上半年或下半年會更強或更弱，這都會有所幫助。

A couple of things.

有幾件事。

One is I think it's a fair -- a number of the customers, and we specifically stated in the call notes, were -- are forecasting second half -- so I think -- we do think our second half will be stronger than our first half.

一個是我認為這是公平的 - 許多客戶，我們在電話記錄中特別指出，正在預測下半年 - 所以我認為 - 我們確實認為我們的下半年會比上半年更強一半。

And I think that's a reasonable conservative stance to take.

我認為這是一個合理的保守立場。

We have not provided quarterly guidance before.

我們之前沒有提供過季度指導。

And basically, we do start the quarter with a small backlog.

基本上，我們在本季度開始時確實有少量積壓。

We've got several customers with forecast for systems that we have on hand and in inventory and can turn in weeks.

我們有幾個客戶預測我們現有的和庫存的系統可以在幾週內交付。

In some cases, they had planned to take them last quarter.

在某些情況下，他們計劃在上個季度採取這些措施。

So we have that in the inventory that we have.

所以我們的庫存中有它。

Whether they come in and trying to ship by the end of this quarter or next is the over-under.

無論他們進來並試圖在本季度末還是下個季度末發貨，都是勝負之分。

And honestly, we're focused on new wins in customers and markets that need our systems.

老實說，我們專注於在需要我們系統的客戶和市場中取得新的勝利。

I can tell you, waking up every day and checking for expected POs doesn't help.

我可以告訴你，每天醒來並檢查預期的 PO 沒有幫助。

I will also tell you I do that more often than I want to admit to.

我還要告訴你，我這樣做的次數比我願意承認的還要多。

I mean our customers are telling their customers and their shareholders that they're ramping.

我的意思是，我們的客戶告訴他們的客戶和股東，他們正在擴張。

In many cases, that's -- I don't even hear what the customers necessarily just tell me.

在很多情況下，我什至沒有聽到客戶告訴我的內容。

I'm not checking and making sure that I believe them by what are they telling the Street.

我不會檢查並確保我相信他們告訴華爾街的內容。

Most of these customers are public and large, okay?

這些客戶大多數都是公共且大型的，好嗎？

They need our tools.

他們需要我們的工具。

We're the plan of record.

我們是有記錄的計劃。

That was a critical thing for us this year, if we look at our business plan, is to make sure that those wins move to production that they actually are counting on us and get those qualified through to their end customers, and particularly things where they're automotive qualification, that's a big deal.

今年對我們來說至關重要的事情是，如果我們審視我們的業務計劃，那就是確保這些勝利轉移到他們實際上依賴我們的生產中，並將那些合格的產品傳遞給他們的最終客戶，特別是他們需要的東西。是汽車資格證，這是一件大事。

And basically, we think -- we plan to do our guidance or more without winning another customer.

基本上，我們認為 - 我們計劃在不贏得其他客戶的情況下進行指導或更多工作。

We have the customers, we have the applications, the products, the inventory, and we actually -- we completely have the manufacturing capacity.

我們有客戶，我們有應用程序，產品，庫存，而且我們實際上完全擁有製造能力。

We didn't talk much about that, but have the ability to build far in excess of even our guidance to meet customer needs, and we're adding more customers and applications and basically our total focus in on.

我們沒有對此進行太多討論，但我們有能力構建遠遠超出我們指導的產品來滿足客戶需求，並且我們正在添加更多的客戶和應用程序，基本上我們的全部重點都在。

That was very helpful.

這非常有幫助。

Second question then is you outlined you have 6 Tier 1 customers that are capable of doing $6 million to $10 million a year, and you have 7 Tier 2 customers that are capable of doing $1 million to $3 million a year.

第二個問題是，您概述了您有 6 個一級客戶，每年能夠營業 600 萬至 1000 萬美元，並且您有 7 個二級客戶，每年有能力營業 100 萬至 300 萬美元。

So obviously, just math that if those customers ramp into those revenue levels, your total revenue will be significantly higher than it is today.

顯然，只要計算一下，如果這些客戶達到這些收入水平，您的總收入將大大高於今天。

And also understanding then you have thousands more customers you're engaging with, so I was just wondering how we should think about or how you guys think about those customers ramping to those types of levels.

而且還要了解，您還有成千上萬的客戶正在與之接觸，所以我只是想知道我們應該如何思考，或者你們如何看待那些達到這些類型水平的客戶。

Is this a 3- to 5-year kind of time range where we would expect most of those to be in that kind of revenue level?

在這個 3 到 5 年的時間範圍內，我們預計其中大多數將處於這種收入水平嗎？

Or how should we think about that?

或者說我們應該如何思考這個問題？

Well -- and again, so realistically, when we put this -- and this Tier 1, Tier 2, this is the first time we've introduced that term and we had some feedback on just how do we get our arms around it.

嗯——再說一遍，所以現實的是，當我們把這個——以及這個第 1 層、第 2 層——這是我們第一次引入這個術語，我們收到了一些關於如何使用它的反饋。

These -- when we look at the total available market that these customers serve, the unit volumes, the test times, the -- is it 100% burn-in or a sampling, we can estimate what their buying power is for any given year, right?

當我們查看這些客戶服務的總可用市場、單位數量、測試時間、是 100% 老化還是抽樣時，我們可以估計他們在任何給定年份的購買力， 正確的？

And so the intent of that was that is a range of the kind of customer -- I mean I don't want to get into all the detail, but we've -- our 10% customers that we have are a force to talk about.

因此，這樣做的目的是，這是一系列客戶類型——我的意思是，我不想透露所有細節，但我們——我們擁有的 10% 的客戶是一股說話的力量關於。

And we're adding, I think, 1 or 2 more this year.

我認為今年我們還會增加一到兩個。

Our 10% in our 10-Q customers are the likes of Intel and ST and Apple, TI.

我們 10-Q 客戶中的 10% 是 Intel、ST、Apple、TI 等公司。

So these are large multinational companies with large-scale applications.

所以這些都是具有大規模應用的大型跨國公司。

And for them to be able to do $10 million or $12 million in a year, they've all proven that they can do that, okay?

他們能夠在一年內賺到 1000 萬美元或 1200 萬美元，他們都已經證明了他們可以做到這一點，好嗎？

So that's the kind of class we're trying to describe that as.

這就是我們試圖描述的那種類。

We have other customers, including ones that we've announced, and I want to be careful not to mention them, but I don't want any of my customers think I don't love them as much, but they're just not -- the likelihood of them doing $10 million is nowhere near the same.

我們還有其他客戶，包括我們已經宣布的客戶，我想小心不要提及他們，但我不希望我的任何客戶認為我不太愛他們，但他們只是不喜歡他們——他們賺到1000 萬美元的可能性相差甚遠。

But we would expect them to do $1 million, $2 million or $3 million a year or so.

但我們預計他們每年能賺到 100 萬美元、200 萬美元或 300 萬美元左右。

As always is the case, at least early on, we can see even customers being lumpy, like maybe they have a good year and then a soft year the next year.

與往常一樣，至少在早期，我們甚至可以看到客戶情緒不穩定，就像他們可能度過了美好的一年，然後明年又度過了疲軟的一年。

But if you start to look at these new devices in silicon photonics and silicon carbide and some of these others, they're actually growing so fast.

但如果你開始關注矽光子學和碳化矽以及其他一些新設備，就會發現它們實際上增長得如此之快。

It's reasonable for them to be sustainable year after year.

他們年復一年地持續下去是合理的。

And kind of ignoring some of the craziness going on in the world right now, we would have expected this to be an up year even over last year's guidance.

忽略目前世界上正在發生的一些瘋狂情況，我們預計今年將比去年的指導有所增長。

So again, I don't think you should just linearly add them all up.

再說一次，我認為你不應該將它們全部線性相加。

But it's not crazy, but they all have good years in the same year.

但這並不瘋狂，而是他們在同一年都有美好的歲月。

I think it's really going to be -- maybe 2/3 of them in any given time are having good years and then they kind of alternate over time.

我認為這確實會發生——也許他們中的 2/3 在任何給定時間內都過著美好的時光，然後他們會隨著時間的推移而交替。

And the goal for us would be to get 15, 20 customers, which we think is reasonable, so that we don't have to wake up at the beginning of the year and think we're totally dependent upon 1 customer to do a significant amount of our sales.

我們的目標是獲得 15、20 個客戶，我們認為這是合理的，這樣我們就不必在年初醒來並認為我們完全依賴 1 個客戶來完成一項重大任務。我們的銷售額。

We'll take our next question from Jeff Bernstein with Cowen.

我們將回答傑夫·伯恩斯坦和考恩提出的下一個問題。

Yes, I am sorry.

是的，我很抱歉。

I think you cut out for a minute.

我認為你停頓了一分鐘。

At one point, you were talking about some business that is not in the guidance.

有一次，您談論了指南中未提及的一些業務。

Is that correct?

那是對的嗎？

And can you just go back over that?

你能回頭再說一下嗎？

Sure.

當然。

I would -- okay.

我會——好吧。

So did you hear me cut out or did I stumble maybe in talking?

那麼你是聽到我被打斷了還是我說話結巴了？

All right.

好的。

Okay.

好的。

So anyhow, yes, so what I did, and I'm not going to go back to essentially read it.

所以無論如何，是的，所以我做了什麼，而且我不會回去本質上閱讀它。

I'll just pull it back up again and make sure.

我會再次把它拉回來並確保。

So this was specifically -- we've seen in the last several months maybe, and even picking up steam, some renewed activity in our 2D, 3D customer base that have wafer and singulated die systems installed.

所以這就是具體的——我們可能在過去幾個月裡看到，甚至在加速，我們安裝了晶圓和單一芯片系統的 2D、3D 客戶群中出現了一些新的活動。

They actually continually have been buying DiePaks from us and WaferPaks, the consumables with new product releases, and that it's been a material business for us.

事實上，他們一直在不斷地從我們這裡購買 DiePaks 和 WaferPaks，這是新產品發佈時的消耗品，這對我們來說是一項重要的業務。

But interestingly, they had not added any system capacity last year.

但有趣的是，他們去年沒有增加任何系統容量。

We've been brought into several new programs that we are aware of now that appear to be a good fit for our products.

我們已經參與了幾個新計劃，我們現在知道這些計劃似乎非常適合我們的產品。

And we're just getting our arms around it right now, but it's very interesting that there's some renewed activity there.

我們現在才開始著手解決這個問題，但非常有趣的是，那裡有一些新的活動。

If you followed us several years ago, one of the tough years we had was, we started the year with a customer saying how great it's going to be, and we forecasted that thinking that, that was a gimme.

如果你幾年前關注過我們，我們經歷過的艱難歲月之一是，我們年初時有一位客戶說它會變得多麼偉大，我們預測認為，這是一個給我。

And ultimately, they pushed out that program and ultimately, canceled that specific program.

最終，他們推出了該計劃，並最終取消了該特定計劃。

And so I'll tell you, I'm a little gun-shy about beating my chest about these particular applications until they are a little bit more direct, right at their eyes.

所以我會告訴你，我有點不好意思對這些特定的應用程序進行搥胸頓足，直到它們更加直接，就在他們眼前。

So I haven't been bold enough to say that we can meet our guidance without any of these, but some of these deals could be some material upside to that or certainly offsetting the other possible issues.

因此，我還沒有足夠大膽地說，我們可以在沒有這些的情況下達到我們的指導，但其中一些交易可能會帶來一些實質性的好處，或者肯定會抵消其他可能的問題。

But that's what I meant to say by that.

但這就是我想說的。

Got you.

明白你了。

And is there a change going on with regard to 100% burn-in kind of thing versus some sort of statistical sampling and that kind of thing?

100% 老化之類的事情與某種統計抽樣之類的事情相比是否正在發生變化？

Or is this really just about brand-new programs?

或者這真的只是全新的程序嗎？

Well, let me do this.

好吧，讓我來做這個。

The programs that we're in, which include both 100% and sampling programs, are continuing along those, these are new programs.

我們參與的計劃，包括 100% 計劃和抽樣計劃，正在繼續進行，這些都是新計劃。

I -- we actually don't have all the details.

我——我們實際上不知道所有細節。

I think we believe that one of them is 100% and one of them is a sampling, but I -- we don't have all the details, yes.

我認為我們相信其中之一是 100%，其中之一是樣本，但我 - 我們沒有所有細節，是的。

(Operator Instructions) We'll take our next question from John Fichthorn with Dialectic Capital.

（操作員說明）我們將接受 Dialectic Capital 的 John Fichthorn 提出的下一個問題。

I apologize because I've been on multiple calls, so I just want to apologize in advance in case you've addressed this.

我很抱歉，因為我已經接了多個電話，所以我想提前道歉，以防萬一您解決了這個問題。

But I guess I'm partially confused at the progress you keep making.

但我想我對你不斷取得的進步感到有些困惑。

You introduce new products, you get new customers.

您推出新產品，獲得新客戶。

And yet, I don't see it in top line guidance expectations, top line performance.

然而，我在營收指導預期和營收業績中並沒有看到這一點。

Granted, you've got COVID for this quarter, I understand.

當然，我理解，這個季度你感染了新冠病毒。

But where is the disconnect?

但脫節在哪裡呢？

I mean you've signed up a ton of new customers in the past, you continue to sign up new customers.

我的意思是，您過去已經註冊了大量新客戶，並且還在繼續註冊新客戶。

You've got existing products, you've got new products.

您有現有產品，也有新產品。

You talked at length about them.

你詳細地談論了它們。

Everything seems to be going the right way, and I -- and it doesn't seem to be flowing through.

一切似乎都在朝著正確的方向發展，而我——但似乎並沒有順利進行。

So I'd just love some help with that basic question.

所以我只是希望得到一些關於這個基本問題的幫助。

Well, I think to -- if we step back, as the Board and I do, sit and trying to look at the overall business to try and get our arms around it, we've been putting together 3-year plans, looking at what those forecasts are.

好吧，我認為，如果我們退後一步，就像董事會和我所做的那樣，坐下來嘗試審視整體業務，並努力解決這個問題，我們就會制定三年計劃，著眼於這些預測是什麼。

One of the things I think is fair, just at the minimum, was customer -- we -- like our first -- our lead silicon photonics customers was buying FOX-XP systems but they didn't go to production yet, and we talked about that several times, maybe almost every single quarter.

我認為公平的事情之一，至少是客戶——我們——就像我們的第一個——我們的領先矽光子客戶正在購買 FOX-XP 系統，但他們還沒有投入生產，我們談過類似的事情發生過好幾次，也許幾乎每個季度都會發生這樣的事情。

And they, for whatever reasons, had not actually introduced the new products that were moving to the wafer-level burn-in and finally have, and qualified it, got it to PLR.

而且，無論出於何種原因，他們實際上並沒有推出正在轉向晶圓級老化的新產品，並最終對其進行了資格認證，將其提交給 PLR。

But actually, that was -- if you look -- just look at a linear time, that was over a couple of years.

但實際上，如果你看的話，只要看一下線性時間，那就是幾年了。

That was not what we expected.

這不是我們所期望的。

And ultimately, it was, okay, when is this going to happen, and we finally saw that ship to production this year, and they started to buy all the contactors.

最終，好吧，這什麼時候會發生，我們今年終於看到這艘船投入生產，他們開始購買所有接觸器。

So we knew they couldn't go to production because they didn't have the contactors with us.

所以我們知道他們無法投入生產，因為他們沒有我們的接觸器。

So they have these beautiful systems sitting there that were not being used yet.

所以他們有這些漂亮的系統，但還沒有被使用。

The reason was is they were bringing up the systems and they wanted to ramp quickly.

原因是他們正在啟動系統並且希望快速升級。

We were able to ship a lot of WaferPaks all within a month or 2, and that's part of the business model, to get them to production.

我們能夠在一兩個月內運送大量 WaferPaks，這是商業模式的一部分，以便將它們投入生產。

Now other customers were kind of a mix, some that had bought after our lead customer but also didn't get to production until this year.

現在其他客戶的情況各不相同，有些是在我們的主要客戶之後購買的，但直到今年才投入生產。

And then we had another customer that was like a 6 months' period.

然後我們又遇到了另一個客戶，時間大約是 6 個月。

The customer that we just shipped to with the order that we announced in Q4 is going to be in production here shortly.

我們剛剛向第四季度宣布的訂單發貨的客戶很快就會在這裡投入生產。

And then interestingly, on our silicon carbide customer, they went from 0 to 100% within 2 months.

有趣的是，在我們的碳化矽客戶上，他們在 2 個月內從 0% 上升到 100%。

So what we -- actually, Vernon, my VP of Sales, was presenting in our Board discussion the collapsing amount of time it's taking for the customers to go from, say, when we first ship it to get to production.

所以我們——實際上，我的銷售副總裁弗農，在董事會討論中介紹了客戶從我們第一次發貨到投入生產所花費的時間。

But the lead time on the sales cycle is still a little bit spotty.

但銷售週期的交貨時間仍然有點參差不齊。

Some of those have been shorter and some of them have -- we've been talking to some customers for a year now, maybe 1.5 years.

其中有些時間較短，有些則更長——我們已經與一些客戶交談了一年，也許 1.5 年。

And then we've had other customers that -- well, okay, the first innovation, 1 to 2, maybe 2 quarters later, they already are purchasing.

然後我們還有其他客戶 - 好吧，第一個創新，1 到 2 個，也許 2 個季度後，他們已經在購買了。

So I think there's just balance of either our own overoptimistic or how fast customers are actually ramping or the deployment, I think, to some extent, the deployment of silicon photonics devices in the main end customers.

因此，我認為，我們自己的過度樂觀或客戶實際增長的速度或部署之間存在平衡，我認為在某種程度上，矽光子器件在主要最終客戶中的部署。

So remember the -- if you know this or not, we have a couple of folks that follow our stock that really track this market, it's really interesting to talk to them.

所以請記住——無論你是否知道這一點，我們有一些人跟踪我們的股票，他們真正跟踪這個市場，與他們交談真的很有趣。

But the big buyers of this market are Facebook, Amazon, Google, it's the large data centers, okay?

但這個市場的大買家是 Facebook、亞馬遜、谷歌，是大型數據中心，好嗎？

And so they have enormous buying power.

因此他們擁有巨大的購買力。

And there's been -- one of the things was it appears they now finally are buying silicon photonics devices.

其中之一就是他們現在終於開始購買矽光子設備了。

But before, they were buying the traditional, kind of much more expensive fiber-optic transceivers.

但在此之前，他們購買的是傳統的、昂貴得多的光纖收發器。

So this is a major inflection point for us because the end customers are now buying in volume, right, and shifting to the higher-performance, higher-speed devices, well, all of which is good for us.

因此，這對我們來說是一個重要的轉折點，因為最終客戶現在正在大量購買，並且轉向更高性能、更高速的設備，所有這些對我們來說都是好事。

And so I believe at this point, it feels more believable that there's more data behind that.

所以我相信在這一點上，背後有更多的數據感覺更可信。

Everybody is saying it's going to be great.

每個人都說這會很棒。

And now we actually have customers that are ramping and the end users are [pulling].

現在我們的客戶實際上正在增加，最終用戶也在[拉動]。

What I will tell you is one of the big things that we were surprised by is the seeming pushouts of capacity -- well, maybe weren't surprised, but we saw pushouts of capacity for those end-use customers starting in the -- beginning of this calendar year.

我要告訴你的是，我們感到驚訝的一件大事是容量的看似擴展——好吧，也許並不感到驚訝，但我們看到那些最終用戶的容量從一開始就開始擴展。本日曆年的。

And so some -- absolutely, customers point specifically at the COVID implications of it.

因此，有些——絕對是客戶特別指出了它對新冠病毒的影響。

And others are, what happened?

還有其他人，到底發生了什麼？

Why did the data center slow down?

為什麼數據中心速度變慢了？

Was there a pushout?

有推出嗎？

So it's something that we're trying to understand.

所以這是我們正在努力理解的事情。

But there's no doubt in my mind data centers aren't going away.

但毫無疑問，我認為數據中心不會消失。

The move to more fiber optic, the move to the fiber optic down at the lower levels of the data center because of the bandwidth, all the data is there to support it.

由於帶寬的原因，轉向更多的光纖，在數據中心的較低級別轉向光纖，所有數據都可以支持它。

And I think that's the trend that's happening.

我認為這就是正在發生的趨勢。

So I mean that's kind of -- I wanted to try and just give you some perspective of that.

所以我的意思是——我想嘗試向您提供一些對此的看法。

All those trends makes sense and everything you said just makes sense, except for the fact that it doesn't necessarily line up with guidance, that is necessarily lower than the guidance you gave last year at the same point in time.

所有這些趨勢都有道理，你所說的一切都有道理，除了它不一定符合指導，這必然低於你去年同一時間點給出的指導。

I mean I just don't understand why 25% to 28% relative to 28% to 31% or wherever you were a year ago makes sense given you have more customers, you're faster to production, like you have newer products -- more new products.

我的意思是，我只是不明白為什麼25% 到28% 相對於28% 到31% 或一年前無論你在哪裡都有意義，因為你有更多的客戶，你的生產速度更快，就像你有更新的產品一樣 -更多新產品。

Help.

幫助。

Help me.

幫我。

Why is there -- why are we not at the inflection point I thought we were at in terms of revenues really inflecting higher?

為什麼會出現——為什麼我們沒有達到我認為我們在收入方面確實處於更高水平的拐點？

What am I missing?

我缺少什麼？

Is it slower lead time?

是不是交貨期比較慢？

Is it pushouts?

是推出來的嗎？

Is it coronavirus?

是冠狀病毒嗎？

Well, John, I -- well, we certainly have stated on the pushouts that we have directly seen from customers that they themselves are explaining that and saying that, that is turning around and they're planning to move forward.

好吧，約翰，我——好吧，我們當然已經在我們從客戶那裡直接看到的推出中聲明過，他們自己正在解釋這一點，並說，這是轉變，他們計劃繼續前進。

We have some customers that have, for the first time, actually given us heads-up of capacity and forecast.

我們的一些客戶實際上第一次向我們提供了容量和預測信息。

I think related to guidance and that, I mean, certainly, in the Board discussions, it's -- there's a sense of how aggressive or conservative should we be in this environment.

我認為與指導有關，我的意思是，當然，在董事會的討論中，我們在這種環境下應該採取積極還是保守的態度。

We want to make sure that we can do what we're saying we're going to do.

我們希望確保我們能夠做到我們所說的、我們要做的。

And there's obviously certain things that are out of our control, but we believe that this is a comfortable number.

顯然有些事情是我們無法控制的，但我們相信這是一個令人舒服的數字。

Gayn, I'd like to add a comment related -- comparative to prior year.

Gayn，我想添加一條與去年相比相關的評論。

So if you take a look just at wafer-level burn-in, even though our overall total revenues only went up 6%, wafer-level burn-in went up 39% or $5.3 million compared to last year.

因此，如果你只看晶圓級老化，儘管我們的總收入僅增長了 6%，但晶圓級老化比去年增長了 39%，即 530 萬美元。

So even though we didn't get any system revenues in Q4, and there were the pushouts really we talked about, we did recognize a 39% increase.

因此，儘管我們在第四季度沒有獲得任何系統收入，並且確實存在我們談到的退出，但我們確實實現了 39% 的增長。

One of the items built into the numbers was we had a decrease of $4.1 million, if you take a look at our packaged parts revenue and our customer service business that included the upgrades of ABTS systems from prior year.

數字中的一項是，如果你看看我們的包裝零件收入和客戶服務業務（包括去年 ABTS 系統的升級），我們就減少了 410 萬美元。

So keep in mind, building into our model in FY 2020 were additional revenues in those areas as well.

因此請記住，2020 財年我們的模型中還包括這些領域的額外收入。

My last comment is just that I really think you guys should take a serious look at your Board ahead of this year's proxy season.

我最後的評論是，我真的認為你們應該在今年的代理季節之前認真審視一下你們的董事會。

It looks like it could use a refresh under ISS standards, and I think that's something that could maybe help you guys progress more rapidly or bring a set of fresh eyes to the entire situation.

看起來它可以根據國際空間站標准進行刷新，我認為這可能會幫助你們更快地取得進展，或者為整個情況帶來新的視角。

So I would recommend that as a shareholder and otherwise.

所以我建議作為股東或其他方式這樣做。

All right, John.

好吧，約翰。

Appreciate it.

欣賞它。

And just a comment, just in general, I know there was a specific question there.

只是一般性的評論，我知道那裡有一個具體的問題。

Actually very happy with -- we've added a couple of -- there's been a transition in our Board over the last couple of years of adding some additional Board members: Laura Oliphant who had been a Capital Director at Intel, very influential, has been wonderful; John came on our Board a couple of years ago as well.

事實上，我們很高興——我們已經增加了一些——在過去的幾年裡，我們的董事會發生了轉變，增加了一些額外的董事會成員：勞拉·奧利芬特（Laura Oliphant），她曾擔任英特爾的資本總監，非常有影響力，太棒了；約翰幾年前也加入了我們的董事會。

And we did actually have a lead Board member, an independent Board member, pass away during the year.

事實上，我們確實有一位首席董事會成員，一位獨立的董事會成員，在這一年去世了。

And there's been some discussions about when is the appropriate time to add a Board member both for any kind of government-related things and then just honestly, with some reasonable balance and expenses and others.

關於何時是為任何類型的政府相關事務添加董事會成員的適當時機，以及誠實地說，有一些合理的餘額和費用等問題，已經進行了一些討論。

So I appreciate it, John.

所以我很感激，約翰。

We'll take our next question from Geoff Scott with Scott Asset Management.

我們將回答斯科特資產管理公司的傑夫·斯科特提出的下一個問題。

First question.

第一個問題。

You added a new sales rep in, I guess, German base to cover the European account.

我猜你在德國基地增加了一名新的銷售代表來負責歐洲客戶。

How long do you think it will take to get some sense as to whether or not that is working out?

您認為需要多長時間才能了解這是否有效？

And precisely, what kind of metrics will you be looking at to determine whether or not it was a good move?

準確地說，您將考慮什麼樣的指標來確定這是否是一個好的舉措？

Is that number of new customers?

這是新客戶的數量嗎？

Is it dollar volume that they're able to generate?

他們能夠產生美元數量嗎？

Please help me out.

請幫幫我。

Okay.

好的。

Well, a couple of things there.

嗯，有幾件事。

I mean, certainly, early on -- and I, with David and so did Vernon, made several trips and had customer calls with them.

我的意思是，當然，很早就 - 我和大衛以及弗農一起去了幾次並與他們打了客戶電話。

And I was really pleased with the level of -- I guess, the number of quality customers and the levels within those customers they were able to get to.

我對優質客戶的數量以及他們能夠接觸到的客戶的水平感到非常滿意。

And the last time we were there was, I think, February or March.

我想我們上次去那裡是二月或三月。

One of the things that definitely has impacted us has been some of the international travel.

肯定對我們產生影響的事情之一是一些國際旅行。

I think Ken kind of alluded to it, the expense controls.

我認為肯提到了費用控制。

It's not very hard to have expense controls right now.

現在控制費用並不難。

So we've been doing some pretty creative things with our reps and with -- remember, we have employees around the world to ensure that it's not limiting our capabilities for installations and support of customers.

因此，我們一直在與我們的代表一起做一些非常有創意的事情——請記住，我們在世界各地都有員工，以確保這不會限制我們安裝和支持客戶的能力。

But HTT, who's out of Germany and covers our Northern Europe, has actually been a good start.

但來自德國、覆蓋北歐的 HTT 實際上是一個良好的開端。

I do expect them to move from great customer calls to orders, both in terms of volume, quality and eventually, dollars as well.

我確實希望他們能夠從大量的客戶來電轉向訂單，無論是數量、質量還是最終的美元。

And those are expectations that we would have starting this year as well as reps in Southern Europe and we are working to close on a rep or 2 in Japan right now.

這些是我們從今年開始的期望以及南歐的代表，我們現在正在努力在日本建立一兩個代表。

We've already been in discussions, but we didn't formalize anything with them, and looking at some other things.

我們已經進行了討論，但沒有與他們正式確定任何內容，並正在考慮其他一些事情。

There's absolutely people that are really good at some of these nonsilicon application customers around silicon carbide, in particular, but also silicon photonics that we're trying to bring on.

絕對有人真正擅長碳化矽方面的一些非矽應用客戶，尤其是我們正在努力推出的矽光子學。

So I'm hoping and expecting -- and Vernon has metrics around getting more sales to those reps as well.

所以我希望並期待著——弗農也有為這些銷售代錶帶來更多銷售額的指標。

Okay.

好的。

Next question.

下一個問題。

You have been working on engineering for a more fully automated FOX system.

您一直致力於設計更全自動的 FOX 系統。

Where are you on that engineering progress?

您的工程進展進展到哪一步了？

That is a system that is still in development.

這是一個仍在開發中的系統。

We haven't talked and given customers exactly what the integration and lead time is due to some specific competitive and other reasons, but that is in the process.

由於某些特定的競爭和其他原因，我們尚未與客戶交談並告知客戶具體的集成和交貨時間，但這是在過程中。

I'm just going to leave it at that for now.

我暫時就這樣吧。

Sure.

當然。

Okay.

好的。

Last question.

最後一個問題。

I'll have to go back and kind of parse the statements made about the Tier 1 customers, Tier 2 customers, things like that.

我必須回去分析一下有關第一級客戶、第二級客戶等的陳述。

But my gut instinct is that if you add up the revenue guidance for fiscal '21, that virtually all of that is coming from further penetration of existing customers and no need for any real new customers.

但我的直覺是，如果將 21 財年的收入指引加起來，幾乎所有收入都來自於現有客戶的進一步滲透，而不需要任何真正的新客戶。

Is that fair?

這公平嗎？

That is fair.

那是公平的。

But I also want to just point out that's not because we think we are going to win new customers.

但我也想指出，這並不是因為我們認為我們將贏得新客戶。

So if you want to take that from how conservative we are, it's like, guys, I'm not starting off this year thinking that if we can just win that one big guy, I can make my numbers.

所以，如果你想從我們的保守程度來看，那就是，伙計們，我不會在今年一開始就想，如果我們能贏得那個大個子，我就能實現我的目標。

That is not the case.

事實並非如此。

We can build up that guidance entirely with current customers and applications.

我們可以完全根據當前的客戶和應用程序來建立該指南。

What my sense was any new customer would represent an upside from that guide range that you gave us.

我的感覺是，任何新客戶都代表著您提供給我們的指導範圍的優勢。

Is that good?

這樣好嗎？

Yes, that is true.

是的，確實如此。

And to be balanced, it obviously creates some potential for derisking, but yes.

為了平衡，它顯然創造了一些降低風險的潛力，但是是的。

Yes.

是的。

Okay.

好的。

So the guidance is really going into production from existing customers as opposed to a hope lift that you're going to give -- get -- sign up any large new customers.

因此，該指導實際上是從現有客戶那裡投入生產的，而不是你要給予——獲得——簽約任何大型新客戶的希望提升。

That's fair.

這還算公平。

We'll take our next question from Tom Diffely with D.A. Davidson.

我們將回答 Tom Diffely 和 D.A. 提出的下一個問題。戴維森。

Yes, quick question on the balance sheet.

是的，關於資產負債表的快速問題。

Assuming that you do get a couple of customers that happen to come at the same time, what can you say in terms of working capital or inventory builds and the balance sheet?

假設您確實有幾個同時出現的客戶，那麼您對營運資金或庫存建設以及資產負債表有何看法？

All right.

好的。

So in terms of the balance sheet and inventory builds and capitalization, we have $8 million in inventory as of the end of May 31, $6.5 million of that is in our FOX-P product.

因此，就資產負債表、庫存建設和資本化而言，截至 5 月 31 日，我們的庫存為 800 萬美元，其中 650 萬美元是我們的 FOX-P 產品。

And included in that is about $1.7 million in what we call our demo lab.

其中包括我們所謂的演示實驗室的約 170 萬美元。

This is turnkey, so it allows for quick turns on that.

這是交鑰匙工程，因此可以快速啟動。

And the benefit of that is we can turn quickly, and we do not need to add inventory.

這樣做的好處是我們可以快速周轉，而且不需要增加庫存。

We're in a position where we don't expect a tremendous increase in inventory to meet our goals during the period and don't expect a whole lot of additional capitalization to be able to fund that.

我們的處境是，我們預計在此期間庫存不會大幅增加來實現我們的目標，並且預計不會有大量額外資本來為此提供資金。

And Tom, also, just to put it in perspective, we had -- and it's interesting.

湯姆，從長遠來看，我們有——這很有趣。

I think I talked about this the last quarter and didn't do in this.

我想我在上個季度談到了這一點，但沒有這樣做。

I certainly had enough content already.

我當然已經有足夠的內容了。

But this last year, one of the other big things that we did, we just did our end-of-year plan, is we significantly lowered our lead times for our WaferPaks and increased capacity.

但去年，我們所做的另一件大事，我們剛剛完成的年終計劃，是我們顯著縮短了 WaferPaks 的交貨時間並增加了產能。

So we're able to do short turn, quick turns on fully custom WaferPaks and DiePaks.

因此，我們能夠對完全定制的 WaferPaks 和 DiePaks 進行短周轉、快速周轉。

And what's important about that is we don't need any new material around for.

重要的是我們不需要任何新材料。

And given that half of our business is DiePaks and WaferPaks, you could say, oh, wow, that's it.

鑑於我們一半的業務是 DiePaks 和 WaferPaks，您可能會說，哦，哇，就是這樣。

But we really -- in most cases, we're being paid by our customers by the time we pay our vendors on those things.

但實際上，在大多數情況下，當我們向供應商支付這些費用時，我們的客戶也在向我們付款。

So -- and then lastly, actually, we didn't talk about it because we actually didn't use it.

所以——最後，實際上，我們沒有談論它，因為我們實際上沒有使用它。

We did put in place a line of credit this last quarter.

上個季度我們確實設立了信貸額度。

I don't think -- do you want to cover that a little bit, Ken?

我不認為——肯，你想稍微討論一下嗎？

Sure.

當然。

It actually was prior to last quarter, but with our banker, Silicon Valley Bank, we have a $4 million line of credit that's available to borrow for domestic AR.

實際上是在上個季度之前，但我們的銀行矽谷銀行為我們提供了 400 萬美元的信貸額度，可用於為國內 AR 借款。

And we have not borrowed any of those funds that are available to us through the bank.

我們還沒有通過銀行借用任何可用資金。

So we have that ability.

所以我們有這個能力。

Plus, we also have customers that also allow to factor any open AR that's actually at a rate that approximate prime.

另外，我們還有一些客戶允許以接近最高速度的速度分解任何開放的 AR。

So it's very favorable with these Tier 1 customers, in fact, one of our lead customers.

因此，這對這些一級客戶（實際上是我們的主要客戶之一）非常有利。

So there's many avenues that we have to really build our cash position as needed.

因此，我們必須通過很多途徑來真正根據需要建立我們的現金頭寸。

Okay.

好的。

So it sounds like for those that…

所以聽起來對於那些……

Sorry.

對不起。

Go ahead, Tom.

繼續吧，湯姆。

Just to say, it sounds like even to exceed the high end of your guided range for the year, you've got plenty of working capital inventory and manufacturing capacity already in place.

只是說，聽起來甚至超出了今年指導範圍的高端，您已經擁有充足的營運資金庫存和製造能力。

Well, that would certainly be our goal.

嗯，這肯定是我們的目標。

I want to be careful of getting too far out over my skis on this given kind of where we're at, but yes.

我想小心不要在我們所處的這種特定位置上超出我的滑雪板太遠，但是是的。

And Tom, one thing, and I think you know, for those folks that have followed us for a while, I haven't said the words in a while, but we still -- all of our standard quotes are 30% down payment, Tom.

湯姆，有一件事，我想你知道，對於那些關注我們一段時間的人來說，我已經有一段時間沒有說過這些話了，但我們仍然 - 我們所有的標準報價都是 30% 的首付，湯姆.

So it's typically quite rare that we look the other way on some of those things and, in many cases, the contractual obligations as part of these.

因此，我們通常很少對其中一些事情視而不見，並且在許多情況下，對其中的合同義務視而不見。

So we get large system orders from these Tier 1 customers for either WaferPaks, DiePaks or systems, they're actually giving us down payment, which, in many cases, is the majority of the actual material costs of the sale itself.

因此，我們從這些一級客戶那裡獲得了 WaferPaks、DiePaks 或系統的大量系統訂單，他們實際上給了我們首付款，在許多情況下，這佔了銷售本身實際材料成本的大部分。

That comes with -- they're not cancelable either.

隨之而來的是——它們也不可取消。

So from a -- the old classic, well, what happens if you get a $30 million order, how are you going to afford it, that has been removed from our vocabulary.

所以，從一個古老的經典來看，如果你收到一份 3000 萬美元的訂單會發生什麼，你將如何負擔得起，這已經從我們的詞彙中刪除了。

We'll take our next question from Larry Chlebina with Chlebina Capital.

我們將回答 Chlebina Capital 的 Larry Chlebina 提出的下一個問題。

Real quick question on your silicon carbide application.

關於您的碳化矽應用的真正快速問題。

The wafer-level system that you've sold, that does both the ATE test and the burn-in reliability test in one fell swoop, doesn't it, or you don't need to do an ATE on the wafers after it comes through the fab with your systems?

你賣的晶圓級系統，一舉完成了ATE測試和老化可靠性測試，不是嗎？或者你不需要在晶圓到達後對其進行ATE通過晶圓廠使用您的系統？

Well, it depends.

這得看情況。

There are certain test steps that they functionally test the devices with our system.

他們通過某些測試步驟使用我們的系統對設備進行功能測試。

So we're able to -- one of the very unique things that they're very pleased about -- in fact, there are white papers out there and not a big message board, but I did see that somebody posted on -- [they got on the] message board.

所以我們能夠——他們非常高興的非常獨特的事情之一——事實上，那裡有白皮書，而不是一個大的留言板，但我確實看到有人張貼在——[他們上了]留言板。

They have done white papers on the Street talking about and beating their chest about their new wafer-level burn-in system, and they did specific comparisons, talking about the 90,000 devices per week capacity compared to the 7,000 on their system, plus the ability to test it before it gets packaged into these modules.

他們在華爾街發表了白皮書，談論他們的新晶圓級老化系統，並對其進行了具體的比較，討論了每週 90,000 個器件的產能與系統上 7,000 個器件的產能相比，以及能力在將其打包到這些模塊之前對其進行測試。

And then on top of it, they specifically point out that one of the key things is they can discern good from bad devices.

最重要的是，他們特別指出，關鍵的事情之一是他們能夠辨別設備的好壞。

And as the devices fail during the burn-in process, they can see exactly where they're failing, which is very unique for a burn-in system.

當設備在老化過程中出現故障時，他們可以準確地看到故障所在，這對於老化系統來說是非常獨特的。

And so the testing capability gets into voltages and currents and opens and shorts and things, but we can give them 100% certainty it was validly tested and that the proper voltages and currents were put there.

因此，測試能力涉及電壓、電流、開路、短路等，但我們可以給他們 100% 的確定性，即測試經過有效測試，並且設置了正確的電壓和電流。

That's a big deal.

這是一件大事。

There are other tests that people do in an ATE insertion before and after burn-in typically, but in the case that we fail a part, they won't even test it.

人們通常在老化之前和之後在 ATE 插入中進行其他測試，但如果我們某個部件出現故障，他們甚至不會對其進行測試。

They don't [think it's different].

他們不[認為這是不同的]。

So it's a little of both.

所以兩者兼而有之。

So you're saying that the throughput on the wafer level is something like 12x what the part burn-in system is.

所以你說晶圓級的吞吐量大約是零件老化系統的 12 倍。

But I think you said in your comments that because you're catching those failures -- the infant mortality failures on the die level, on a wafer level, you haven't put any more money into it or they haven't put -- and packaging and so on.

但我認為你在評論中說過，因為你發現了這些失敗——芯片層面、晶圓層面的嬰兒死亡率失敗，你沒有投入更多的錢，或者他們沒有投入——以及包裝等等。

Did you say it was up to 5x more expensive once it's packaged when they find that failure and put it away or…

你是不是說，一旦包裝好，當他們發現故障並將其收起來時，它的價格就貴了 5 倍，或者……

So I -- the numbers I said is like 4 to 10x or so.

所以我——我說的數字是 4 到 10 倍左右。

But the specific thing is if you go look at a -- if you physically -- actually, yes, I have one in my hand right now, okay?

但具體的事情是，如果你去看——如果你親自去看——實際上，是的，我現在手裡就有一個，好嗎？

It's too bad you guys can't see it.

可惜你們看不到。

So I'm physically holding one of these high-power modules that goes into a car.

所以我手裡拿著一個安裝在汽車中的高功率模塊。

And it's this large metal frame with a large heat sink on it.

它是一個大金屬框架，上面有一個大散熱器。

It's encapsulated.

它是封裝的。

This thing -- they put 8 or 10 of these MOSFETs in it in parallel.

這個東西——他們並聯放置了 8 個或 10 個 MOSFET。

And then they'll sell it.

然後他們就會賣掉它。

And if you go out on DigiKey or anything else, you can find it from the folks.

如果您使用 DigiKey 或其他任何東西，您可以從人們那裡找到它。

There's several people that are out there.

那裡有幾個人。

I don't want to go into which one is my customer.

我不想透露哪一位是我的客戶。

I think they will show up as a 10% with our 10-K, right?

我認為他們會在我們的 10-K 中顯示為 10%，對吧？

But they specifically -- these things are doing hundreds of amps, but they're put into this thing, integrated in, encapsulated and then they burn this module up and then one of the devices fails, and it's pretty high failure rate.

但具體來說，這些東西的電流達到數百安培，但它們被放入這個東西中，集成、封裝，然後燒毀這個模塊，然後其中一個設備發生故障，故障率相當高。

So they're throwing away 10-or-more percent, I don't need to give you the numbers, but that's an easy number, of this entire module.

所以他們扔掉了 10% 或更多，我不需要給你數字，但這是整個模塊的一個簡單數字。

Well, the package itself might cost $100, $200 to build.

嗯，這個包本身的建造成本可能是 100 美元、200 美元。

And then the die inside them might be in the 5s of dollars apiece or 10s of dollars apiece because that's the price of them when they're discrete.

然後它們內部的骰子可能每個 5 美元或 10 美元，因為這是它們離散時的價格。

So that's a reasonable thing.

所以這是一個合理的事情。

When they throw that away, they throw the whole module away.

當他們扔掉它時，他們就扔掉了整個模塊。

It's a big BS.

這是一個大廢話。

So that's why everyone scrambling.

所以這就是大家爭先恐後的原因。

They all have edicts to get wafer level.

他們都有法令要達到晶圓級。

So the throughput's like 12x higher, give or take.

因此，不管怎樣，吞吐量大約提高了 12 倍。

You're catching those failures at the lowest cost before any more money is put into them, which sounds like a huge savings.

在投入更多資金之前，您可以以最低的成本發現這些故障，這聽起來像是一筆巨大的節省。

And then the road map down the road is to go to 8-inch wafers and your system is capable of 12 inch so it's future-proof.

接下來的路線圖是採用 8 英寸晶圓，而您的系統可以使用 12 英寸晶圓，因此它是面向未來的。

And then of course, economics getting even better in that scenario.

當然，在這種情況下，經濟狀況會變得更好。

So I guess I go back, why isn't everybody going to this?

所以我想我回去了，為什麼不是每個人都去呢？

Is everyone currently burning in their components in the parts system?

目前每個人都在零件系統中燃燒其組件嗎？

And so why isn't it such a no-brainer to go to your wafer level?

那麼為什麼進入晶圓級就不是一件輕而易舉的事情呢？

So we have a large punch list -- customer list of the ones that we are targeting.

因此，我們有一份很大的待辦事項清單——我們的目標客戶清單。

A reasonable majority of them we have not been in contact with.

我們還沒有與他們中的大多數人接觸過。

It's just the truth.

這只是事實。

Others, we have been, and we started to make engagements, and we're going to talk, starting at the top of the list, if you will.

其他人，我們一直是，我們開始進行約定，如果你願意的話，我們將從列表的頂部開始討論。

And now that we have proven the feasibility and the capabilities, we are engaged with multiple other customers on this.

現在我們已經證明了可行性和能力，我們正在與多個其他客戶就此進行接觸。

There are testing that -- there are certain tests that we can do and there are certain tests right now that we do not yet have proven on our FOX systems that we are also working on.

有些測試是我們可以做的，有些測試目前我們還沒有在我們也在進行的 FOX 系統上得到證實。

And we're working with one or more of the largest silicon carbide customers on working through that application.

我們正在與一個或多個最大的碳化矽客戶合作開發該應用程序。

So I think that it's -- this is an area that may be -- how do we get in front of customers?

所以我認為——這可能是一個領域——我們如何站在客戶面前？

How do we make phone calls?

我們如何打電話？

How do we get it?

我們如何得到它？

That's one of the reasons we try to beef up and make the changes in our sales, so that we can get in front of more customers.

這就是我們努力加強和改變銷售的原因之一，以便我們能夠面對更多的客戶。

All right.

好的。

I mean it seems like this approach is a no-brainer.

我的意思是，這種方法似乎是理所當然的。

But if -- assuming the industry would go this route, is there an idea how many systems could potentially be involved for the silicon carbide application, how many XPs?

但是，如果——假設行業會走這條路，是否知道碳化矽應用可能涉及多少個系統，有多少個 XP？

Well, that, I think I specifically walked through some of the math there.

嗯，我想我專門講了一些數學知識。

I talked about 0.5 million wafer starts a year.

我談到每年有 50 萬個晶圓開工。

And you -- if you -- and I referred to the burn-in times as much as days.

你——如果你——和我提到的老化時間長達幾天。

So if you kind of walk through the math there, there are multiple hundreds of wafers' worth of capacity out there, we believe, today and growing significantly.

因此，如果你稍微算一下，我們相信，今天有數百片晶圓的產能，而且還在顯著增長。

And what I mean by wafers of capacity would be how many blades, in our case, would need to be installed worldwide.

我所說的容量晶圓是指在我們的例子中需要在全球範圍內安裝多少個刀片。

And so that market is substantially larger.

因此這個市場要大得多。

And to be blunt, the whole world only has 1 XP in production right now.

坦白說，目前全世界只有 1 個 XP 在生產。

That's the first one.

這是第一個。

That was why it's so exciting.

這就是為什麼它如此令人興奮。

And that customer is going to be taking on more, we are going to win other customers.

該客戶將承擔更多，我們將贏得其他客戶。

And it's sort of a mad scramble right now.

現在這是一場瘋狂的爭奪。

So it seems like if you -- go ahead.

所以看起來如果你——繼續吧。

And I know this may sound interesting, but anybody who also follow some of those customers, we actually have talked to a couple of the CEOs, we'd like to talk to them all.

我知道這可能聽起來很有趣，但是任何關注其中一些客戶的人，我們實際上已經與幾位首席執行官進行了交談，我們希望與他們所有人進行交談。

So you're an enabling technology on silicon photonics, which is an emerging new technology that has great potential.

因此，您是矽光子學的一項使能技術，這是一項具有巨大潛力的新興技術。

Then hopefully, you'll be recognized as an enabling technology provider for silicon carbide, which looks like it has tremendous potential, but I wanted to see more proof points.

然後希望您能被公認為碳化矽的支持技術提供商，碳化矽看起來具有巨大的潛力，但我想看到更多的證據。

We think silicon carbide is -- it is and will grow -- it's already larger than silicon photonics and will grow much larger than that.

我們認為碳化矽——它現在是並且將會增長——它已經比矽光子學更大，並且將會比矽光子學更大。

We'll take our next question from [Charlie Doe], private investor.

我們將回答私人投資者 [Charlie Doe] 提出的下一個問題。

Gayn, can you break down the revenue for the lower end of guidance between product sales, consumables and service?

Gayn，您能否將指導下端的收入細分為產品銷售、消耗品和服務？

Or as an alternative, can you provide the level of product sales you think will be needed for the lower end of guidance for…

或者作為替代方案，您能否提供您認為低端指導所需的產品銷售水平……

We haven't -- let me give you some ranges of -- sort of that are reasonably based on historical.

我們還沒有——讓我給你一些——合理地基於歷史的範圍。

I mean we historically are reporting somewhere $800,000 to $1 million a quarter in certain support.

我的意思是，我們歷來報告的某些支持金額為每季度 80 萬至 100 萬美元。

Those are the sort of contracts, kind of material things.

這些是合同之類的，物質的東西。

So using that going forward would make sense.

因此，未來使用它是有意義的。

So take $4 million out of that, you got certain support.

所以從中拿出 400 萬美元，你就得到了一定的支持。

And then generally, we've been tracking maybe 30% to 50% of consumables as a normal run rate.

一般來說，我們一直在跟踪 30% 到 50% 的消耗品作為正常運行率。

And you could use that as a reasonable.

你可以把它當作合理的。

I think -- we do believe we'll get some packaged part business this year but probably not a significant number.

我認為——我們確實相信今年我們會獲得一些包裝零件業務，但數量可能不會很大。

And the rest will all be between FOX and the FOX consumables.

剩下的一切都將在FOX和FOX消耗品之間進行。

We do think our packaged parts business is likely to pick up the following year, but I don't want to get out there too far.

我們確實認為我們的包裝零件業務可能會在明年有所回升，但我不想走得太遠。

So -- and then from a margin and mix perspective, our FOX systems and WaferPaks have a very, very good margin and our -- what we call kind of a material margin, which is -- like, the price minus the raw material or the direct manufacturing costs are in the 60%, 65% margins.

因此，從利潤和組合的角度來看，我們的 FOX 系統和 WaferPaks 擁有非常非常好的利潤，我們所謂的材料利潤，就像價格減去原材料或直接製造成本在60%、65%的利潤範圍內。

So whether they're -- the consumables of the systems are about the same from a mix perspective, and it's actually somewhat similar for the certain support now.

因此，無論它們是——從混合的角度來看，系統的消耗品大致相同，而且現在對於某些支持實際上有些相似。

So our -- overall, we're probably going to be less subject to mixes, although there are certain configurations and certain consumables that have higher margins.

因此，總體而言，儘管某些配置和某些消耗品的利潤率較高，但我們可能會較少受到混合的影響。

Great.

偉大的。

Do you expect any material changes in the R&D expenses for fiscal year 2021?

您預計 2021 財年的研發費用是否會有重大變化？

We generally run about $1 million a quarter.

我們通常每季度運行約 100 萬美元。

I think we've done a little less than that in the last -- because of just some R&D spend with respect to where we're at in the programs.

我認為我們比去年做得少了一點——因為我們在項目中的進展只花費了一些研發費用。

But it's my expectation that that's about what our run rate should be.

但我預計這就是我們的運行率應該達到的水平。

Right, Ken?

對吧，肯？

What can you tell us about…

您能告訴我們什麼……

Yes.

是的。

It's actually -- you're actually correct.

事實上，你是對的。

We've been running about $800,000 and plus the last several quarters, but we are going to be ramping up.

過去幾個季度，我們的支出一直在 80 萬美元左右，但我們將會繼續增加。

Keep in mind, again, we have a few of our programs that will be ramping up towards the third and fourth fiscal quarters.

再次請記住，我們有一些計劃將在第三和第四財政季度逐步推進。

Ken and I are not in the same room, but we had audioless Zoom on our computers so we can sort of signal to each other.

肯和我不在同一個房間，但我們的電腦上有無聲 Zoom，這樣我們就可以互相發送信號。

Sorry, go ahead.

抱歉，請繼續。

What can you tell us about the prospects for new products, their timing and the potential markets given that you're going to continue with that R&D spend rate?

鑑於您將繼續保持這樣的研發支出率，您能告訴我們關於新產品的前景、它們的時機和潛在市場嗎？

Yes.

是的。

We'll -- we specifically already either alluded or directly stated that we are working on a new platform product in the packaged part that has very high voltage on it and that looks actually really exciting.

我們將 - 我們已經特別提到或直接表示，我們正在封裝部分開發一種新平台產品，該產品具有非常高的電壓，看起來實際上非常令人興奮。

Customer feedback has been very positive on it.

客戶對此的反饋非常積極。

And we think that it opens up.

我們認為它是開放的。

There are certain applications for silicon carbide, for example.

例如，碳化矽有某些應用。

I mean our discrete MOSFET customers may want to put it only in our packaged part burn-in system.

我的意思是，我們的分立 MOSFET 客戶可能只想將其放入我們的封裝部件老化系統中。

And there are not -- there's just not the capacity out there to address it.

但沒有——只是沒有能力解決這個問題。

And so that's an area that we've had.

這就是我們已經擁有的一個領域。

Other high voltage from 300 volts to 600 volts and then the gallium nitrides are up to 1,600-, 1,700-plus volts.

其他高壓為 300 伏至 600 伏，氮化鎵則高達 1,600 伏、1,700 伏以上。

So there's -- that's an area that we see is going to drive some things that we've got R&D spend going on.

因此，我們認為這個領域將推動我們研發支出的發展。

We have some automation programs and some other things that we're working on that we believe not only enhance our ability to address the current customers but also some high-volume market opportunities.

我們正在開發一些自動化程序和其他一些項目，我們相信這些項目不僅可以增強我們滿足當前客戶需求的能力，而且還可以帶來一些大批量的市場機會。

And I have just discussed briefly in our calls that we are talking with some of the memory suppliers related to their road maps for wafer-level burn-in.

我剛剛在電話中簡要討論過，我們正在與一些內存供應商討論他們的晶圓級老化路線圖。

And we'll continue to provide information as we get further along in those discussions.

隨著這些討論的進一步進展，我們將繼續提供信息。

We'll take our final question.

我們將回答最後一個問題。

It comes from Jeff Bernstein of Cowen.

它來自考恩的傑夫·伯恩斯坦。

Yes, just 2 quick ones.

是的，只有 2 個快速的。

So you just touched on gallium nitride.

所以你剛剛接觸了氮化鎵。

And my question was, what's going on in terms of opportunity for you in gallium nitride RF and gallium nitride power and what engagements kind of look like so far?

我的問題是，你們在氮化鎵射頻和氮化鎵功率領域的機會是什麼？到目前為止，合作情況如何？

And then I have one more.

然後我還有一個。

So we -- actually, we might actually already be testing a gallium nitride wafer, I apologize.

所以我們——實際上，我們可能實際上已經在測試氮化鎵晶圓了，我很抱歉。

I know that, that is the plan.

我知道，這就是計劃。

But it is a power device.

但它是一個功率器件。

So from our tester, it looks pretty similar too if it was -- that's interesting.

所以從我們的測試人員看來，如果是的話，它看起來也非常相似——這很有趣。

Hey, operator, I got one of our people that was just on the call calling my cell.

嘿，接線員，我們的一位工作人員正在打電話給我的手機。

Sorry, did we have a problem?

抱歉，我們有問題嗎？

Is everybody still on -- okay, anyhow, so they absolutely are doing both silicon carbide and gallium nitride.

每個人都還在嗎——好吧，無論如何，他們絕對在生產碳化矽和氮化鎵。

And to be blunt, they look the same to us.

坦率地說，它們對我們來說看起來是一樣的。

They both have similar reliability issues.

它們都有類似的可靠性問題。

It sort of -- you got to have a certain -- I don't know [if I -- you can sense the humor], but if you're a tester guy and you're testing semiconductors, you love devices that fail, okay?

有點——你必須有某種——我不知道[如果我——你能感覺到幽默]，但如果你是一名測試人員並且正在測試半導體，你就會喜歡失敗的設備， 好的？

I mean that's a good thing for us.

我的意思是這對我們來說是一件好事。

And it turns out -- and fail in an application where it matters.

事實證明，在重要的應用程序中卻失敗了。

And then the other thing is you want devices that fail and are never going to stop failing.

另一件事是您希望設備能夠發生故障並且永遠不會停止發生故障。

Silicon carbide is actually a very mature process in many ways.

碳化矽實際上在很多方面都是一個非常成熟的工藝。

It's just that substrate is inherently not going to give you the crystalline structure and ever get to the defects that silicon will.

只是基材本質上不會提供晶體結構，也不會產生矽所具有的缺陷。

People know that.

人們都知道這一點。

But you can't get silicon -- you can't get semiconductors up to 1,700 volts with the efficiency.

但你無法獲得矽——你無法獲得具有高達 1,700 伏電壓的效率的半導體。

So okay, you do a burn-in step, and all you do is, 1 or 2 days later, you weed it out.

好吧，你做了一個老化步驟，你所做的就是，一兩天后，你就把它淘汰了。

These aren't actually very expensive steps, even on our tool.

這些實際上並不是非常昂貴的步驟，即使在我們的工具上也是如此。

And so from a cost effectiveness, it's cheap.

所以從性價比來說，它很便宜。

People were just surprised we could do it.

人們只是驚訝我們能做到。

For folks that weren't on the call last year when we first engaged with this initial customer, they were like, what do you mean you can do this?

對於去年我們第一次與這位初始客戶接觸時沒有參加電話會議的人來說，他們會說，你能做到這一點是什麼意思？

Like, it was -- we said, yes, we'll show you.

就像，我們說，是的，我們會告訴你。

And we just simply offered them to buy a WaferPak, and then we tested one of their wafers because they didn't even know that it was feasible.

我們只是簡單地向他們提出購買 WaferPak，然後我們測試了他們的一個晶圓，因為他們甚至不知道這是可行的。

They didn't think it was at all possible.

他們認為這根本不可能。

We tested their wafer, we send it -- I think we've tested 2 or 3 of them, sent it back.

我們測試了他們的晶圓，然後將其寄回——我想我們已經測試了其中的 2 或 3 個，然後將其寄回。

It went through their entire qualification process.

它經歷了他們的整個資格認證過程。

We not only told them which devices failed but what time they failed, and they went through the qual process.

我們不僅告訴他們哪些設備失敗了，還告訴他們失敗的時間，然後他們完成了質量流程。

It caught 100% of the failures.

它捕獲了 100% 的失敗。

They then turned around and said, can we ship you more wafers and here's a PO.

然後他們轉過身來說，我們可以給你寄更多的晶圓嗎？這是一份採購訂單。

And we actually, while we were building our system, continue to ship wafers for them.

實際上，我們在構建系統的同時，繼續為他們運送晶圓。

So we said can we please borrow more time.

所以我們說可以藉更多時間嗎？

So we actually shipped out of our apps lab.

所以我們實際上已經離開了我們的應用程序實驗室。

We were shipping them wafers.

我們向他們運送晶圓。

I believe they were shipping to customers because they were like, this is fantastic.

我相信他們之所以向客戶發貨，是因為他們覺得，這太棒了。

So -- and that's why they immediately ramped.

所以——這就是為什麼他們立即加大力度。

And so that's been a very positive experience for all of us.

這對我們所有人來說都是一次非常積極的經歷。

And GaN RF, is that a different test structure to do that or…

GaN RF 是一種不同的測試結構嗎？

So far, I have not heard about people driving the RF part of it, these tiny little transceivers, for the same level of reliability, but our ears are open.

到目前為止，我還沒有聽說有人驅動它的射頻部分，這些微小的收發器，以達到相同的可靠性水平，但我們的耳朵是開放的。

I think it's just maybe the criticalness of the first one.

我認為這可能就是第一個的關鍵之處。

The first application was these power modules going into automotive where they were stacked.

第一個應用是將這些電源模塊堆疊到汽車中。

But I believe that people will be doing this for discrete, and it would not surprise me if we go to the RF side, the system capability is there.

但我相信人們會為分立器件這樣做，如果我們進入射頻方面，我不會感到驚訝，系統能力就在那裡。

Yes.

是的。

Got you.

明白你了。

Okay.

好的。

Great.

偉大的。

So then just back on the question on the relative guidance, which kind of jumped out to me as well.

那麼，回到關於相對指導的問題，這個問題也引起了我的注意。

But I think what I'm hearing is, in each one of these markets, we've had a Gartner Hype Cycle: gallium nitride, silicon carbide, 5G, silicon photonics, 3D sensing, AR, autonomous driving, every one of these things.

但我認為我聽到的是，在每一個市場中，我們都有一個Gartner 技術成熟度曲線：氮化鎵、碳化矽、5G、矽光子、3D 傳感、AR、自動駕駛，每一項都如此。

We all know they are all coming.

我們都知道他們都會來。

So it feels like we're just in that early phase where you just don't have enough that's all going to production and getting out there in the world to really get a trend going for you guys.

所以感覺我們正處於早期階段，你還沒有足夠的資源來生產並走向世界，以真正為你們帶來趨勢。

And hopefully, that means that this year's guidance has sort of been shaken down to take all that into account and say we're going to stop hoping this stuff hits the inflection point, and we're going to let it hit the inflection point when it does.

希望這意味著今年的指導方針已經有所調整，以考慮到所有這些因素，並表示我們將不再希望這些東西達到拐點，並且我們將讓它在達到拐點時確實如此。

Is that a proper characterization?

這是正確的表徵嗎？

I think majorly so, and that part about there's only so much we can do, when we have a customer that says for PLR, they have our products, they say -- I mean we have specific quotes we've given to ourselves and the Board.

我認為主要是這樣，我們能做的就是這麼多，當我們有客戶說 PLR 時，他們有我們的產品，他們說——我的意思是我們有給自己和客戶的具體報價。木板。

It's like nobody else has anything like this period at any price.

就好像沒有人能以任何價格獲得像這個時期一樣的東西。

Of course, then it's like, then why are we -- why don't charge more for them.

當然，然後我們就會想，為什麼我們不向他們收取更多費用。

But that's a different discussion.

但這是不同的討論。

And so we know that they're planning to.

所以我們知道他們正在計劃這樣做。

And I -- again, my intention was not to spend a lot of time talking about COVID.

我再說一次，我的目的不是花很多時間談論新冠病毒。

There are some businesses that I think we all can just wonder what the heck is going to happen.

我認為有些企業我們都想知道到底會發生什麼。

This is -- this shouldn't be one of them.

這是——這不應該是其中之一。

I mean our semiconductor companies are all engaged.

我的意思是我們的半導體公司都參與其中。

They -- all their fabs are open.

他們——他們所有的晶圓廠都開放了。

Their -- the end-use applications for us are not being impacted, we believe there's nothing materially impacted related to anything related to COVID or pandemics or international travel or hotels or something that should have any impact.

他們的——我們的最終用途應用程序沒有受到影響，我們相信與新冠病毒、流行病、國際旅行、酒店或其他應該產生任何影響的事情相關的任何事情都沒有受到實質性影響。

But certainly, more communication, more data, all of that stuff is in play.

但當然，更多的溝通、更多的數據，所有這些都在發揮作用。

But I think that -- I'm comfortable with where we're at.

但我認為——我對我們現在的處境感到滿意。

One of the discussions was should we go out with guidance, it's like, absolutely, we should.

其中一項討論是我們是否應該在指導下出去，我們絕對應該這樣做。

And we hope to have a good year this year.

我們希望今年能度過美好的一年。

And we have no further questions in queue.

我們沒有其他問題了。

Okay.

好的。

I appreciate it.

我很感激。

Folks, we appreciate your time with us.

伙計們，我們感謝您與我們共度時光。

And we -- as always, if you have any questions or follow-up -- follow-up questions, I mean, get a note out to us or to MKR and we could set something up in here, okay?

我們 - 一如既往，如果您有任何問題或後續問題 - 我的意思是，請給我們或 MKR 發一張便條，我們可以在這裡設置一些東西，好嗎？

Thank you all very much, and have a good one.

非常感謝大家，祝大家一切順利。

Everyone, stay safe.

大家注意安全。

This concludes today's call.

今天的電話會議到此結束。

Thank you for your participation.

感謝您的參與。

You may now disconnect.

您現在可以斷開連接。