The agreement centers on production burn-in services specifically designed for electric vehicle applications. While the company withheld the name of the new client, management indicated the contract serves as a strategic expansion of their automotive footprint. The deal guarantees minimum billings of $4.7 million, with internal projections suggesting the total value could scale to $6 million over the three-year term.
Chief Executive S.W. Yong noted that the partnership provides long-term revenue visibility and reinforces the company's technical standing in the burn-in sector. Following the news, shares climbed to $11.39 during midday trading, reflecting investor optimism regarding the firm's growth trajectory within the EV supply chain.
Comments (0)
No comments yet. Be the first!