California
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000-22893
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94-2424084
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(State
or other jurisdictionof incorporation)
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(Commission
File Number)
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(IRS
EmployerIdentification No.)
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400 KATO TERRACE, FREMONT, CA 94539
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(Address
of principal executive offices, including zip code)
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510-623-9400
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(Registrant’s
telephone number, including area code)
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N/A
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(Former
name or former address, if changed since last report)
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Exhibit No.
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Description
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Press Release of Aehr Test
Systems dated July 19, 2018 entitled “Aehr Test Systems
Reports 56%
Revenue Growth for Fiscal Year 2018 and Provides Financial Guidance
for Fiscal 2019.”
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Aehr Test
Systems
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(Registrant)
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Date: July 19,
2018
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By:
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/s/ Kenneth
B. Spink
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Kenneth B.
Spink
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Vice President of
Finance and Chief Financial
Officer
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Aehr Test Systems
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Investor Relations Contact:
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Ken Spink
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Todd Kehrli or Jim Byers
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Chief Financial Officer
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MKR Group, Inc.
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(510) 623-9400 x309
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(323) 468-2300
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aehr@mkr-group.com
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Three Months Ended
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Year Ended
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May 31,
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Feb 28,
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May 31,
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May 31,
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May 31,
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2018
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2018
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2017
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2018
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2017
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Net
sales
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$7,269
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$7,393
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$6,683
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$29,555
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$18,898
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Cost of
sales
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4,108
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4,217
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4,075
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17,169
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12,118
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Gross
profit
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3,161
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3,176
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2,608
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12,386
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6,780
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Operating
expenses:
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Selling,
general and administrative
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1,816
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1,829
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1,905
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7,290
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7,052
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Research
and development
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1,096
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1,040
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1,309
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4,181
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4,657
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Total
operating expenses
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2,912
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2,869
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3,214
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11,471
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11,709
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Income
(loss) from operations
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249
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307
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(606)
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915
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(4,929)
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Interest
expense
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(89)
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(98)
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(141)
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(399)
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(678)
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Other income
(expense), net
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39
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(33)
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(59)
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(61)
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(21)
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Income
(loss) before income tax (expense)
benefit
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199
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176
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(806)
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455
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(5,628)
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Income tax (expense)
benefit
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(8)
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91
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11
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73
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(25)
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Net
income (loss)
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191
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267
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(795)
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528
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(5,653)
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Less: Net income
attributable to the noncontrolling
interest
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-
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-
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-
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-
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-
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Net income (loss)
attributable to Aehr Test
Systems common
shareholders |
$191
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$267
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$(795)
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$528
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$(5,653)
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Net income (loss) per
share
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Basic
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$0.01
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$0.01
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$(0.04)
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$0.02
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$(0.35)
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Diluted
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$0.01
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$0.01
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$(0.04)
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$0.02
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$(0.35)
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Shares used in per
share calculations:
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Basic
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22,033
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21,832
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19,050
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21,732
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16,267
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Diluted
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22,614
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22,641
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19,050
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22,782
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16,267
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Three Months Ended
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Year Ended
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|||
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May 31,
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Feb 28,
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May 31,
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May 31,
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May 31,
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2018
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2018
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2017
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2018
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2017
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GAAP net
income (loss)
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$191
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$267
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$(795)
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$528
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$(5,653)
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Stock-based
compensation expense
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174
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242
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208
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996
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999
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Non-GAAP net
income (loss)
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$365
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$509
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$(587)
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$1,524
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$(4,654)
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GAAP net
income (loss) per diluted share
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$0.01
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$0.01
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$(0.04)
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$0.02
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$(0.35)
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Non-GAAP net
income (loss) per diluted share
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$0.02
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$0.02
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$(0.03)
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$0.07
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$(0.29)
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Shares used
in diluted shares calculation
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22,614
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22,641
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19,050
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22,782
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16,267
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Shares used
in non-GAAP diluted shares calculation
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22,614
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22,641
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19,050
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22,782
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16,267
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May 31,
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February 28,
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May 31,
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2018
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2018
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2017
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ASSETS
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Current
assets:
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Cash
and cash equivalents
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$16,848
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$9,077
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$17,803
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Short-term
investments
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-
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5,986
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-
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Accounts
receivable, net
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2,856
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4,673
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4,010
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Inventories
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9,049
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9,368
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6,604
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Prepaid
expenses and other
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703
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1,339
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961
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Total
current assets
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29,456
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30,443
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29,378
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Property
and equipment, net
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1,203
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1,205
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1,419
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Other
assets
|
296
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324
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95
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Total
assets
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$30,955
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$31,972
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$30,892
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LIABILITIES AND SHAREHOLDERS' EQUITY
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Current
liabilities:
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Current
portion of long-term debt
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$6,110
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$-
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$-
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Accounts
payable
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1,762
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2,638
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2,808
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Accrued
expenses
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1,646
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1,643
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1,609
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Customer
deposits and deferred revenue, short-term
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1,630
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2,310
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3,467
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Total
current liabilities
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11,148
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6,591
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7,884
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Long-term
debt
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-
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6,110
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6,110
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Deferred
rent
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63
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-
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-
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Deferred
revenue, long-term
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459
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497
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104
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Total
liabilities
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11,670
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13,198
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14,098
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Aehr
Test Systems shareholders' equity
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19,305
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18,794
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16,813
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Noncontrolling
interest
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(20)
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(20)
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(19)
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Total
shareholders' equity
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19,285
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18,774
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16,794
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Total
liabilities and shareholders' equity
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$30,955
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$31,972
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$30,892
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