California
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000-22893
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94-2424084
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(State or other jurisdiction of
incorporation)
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(Commission File
Number)
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(IRS Employer Identification
No.)
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Exhibit
No.
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Description
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Press Release of Aehr Test Systems
dated January 10, 2019 entitled “Aehr Test Systems Reports
Second Quarter Fiscal 2019 Financial
Results.”
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Aehr Test
Systems
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(Registrant)
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Date: January 10,
2019
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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 |
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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Aehr Test Systems Reports Second Quarter Fiscal 2019 Financial
Results
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January 10, 2019
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Page 5 of 7
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Three Months Ended
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Six Months Ended
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|||
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Nov 30,
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Aug 31,
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Nov 30,
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Nov 30,
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Nov 30,
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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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$5,911
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$4,740
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$7,923
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$10,651
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$14,893
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Cost of
sales
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3,513
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3,187
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4,792
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6,700
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8,844
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Gross
profit
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2,398
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1,553
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3,131
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3,951
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6,049
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Operating
expenses:
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Selling,
general and administrative
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1,977
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1,879
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1,854
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3,856
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3,645
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Research
and development
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986
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1,116
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1,090
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2,102
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2,045
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Total
operating expenses
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2,963
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2,995
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2,944
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5,958
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5,690
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(Loss)
income from operations
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(565)
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(1,442)
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187
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(2,007)
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359
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Interest
expense, net
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(74)
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(78)
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(105)
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(152)
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(212)
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Other income
(expense), net
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29
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9
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(7)
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38
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(67)
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(Loss)
income before income tax expense
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(610)
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(1,511)
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75
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(2,121)
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80
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Income tax
expense
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(19)
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(4)
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(15)
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(23)
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(10)
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Net
(loss) income
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(629)
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(1,515)
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60
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(2,144)
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70
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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 (loss)
income attributable to Aehr Test Systems common
shareholders
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$(629)
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$(1,515)
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$60
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$(2,144)
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$70
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Net (loss)
income per share
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Basic
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$(0.03)
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$(0.07)
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$0.00
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$(0.10)
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$0.00
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Diluted
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$(0.03)
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$(0.07)
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$0.00
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$(0.10)
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$0.00
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Shares used in
per share calculations:
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Basic
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22,294
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22,190
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21,645
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22,242
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21,531
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Diluted
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22,294
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22,190
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22,883
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22,242
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22,937
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Aehr Test Systems Reports Second Quarter Fiscal 2019 Financial
Results
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January 10, 2019
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Page 6 of 7
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Three Months Ended
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Six Months Ended
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|||
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Nov 30,
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Aug 31,
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Nov 30,
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Nov 30,
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Nov 30,
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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 (loss) income
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$(629)
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$(1,515)
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$60
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$(2,144)
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$70
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Stock-based
compensation expense
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224
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256
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364
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480
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580
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Non-GAAP
net (loss) income
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$(405)
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$(1,259)
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$424
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$(1,664)
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$650
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GAAP
net (loss) income per diluted share
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$(0.03)
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$(0.07)
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$0.00
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$(0.10)
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$0.00
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Non-GAAP
net (loss) income per diluted share
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$(0.02)
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$(0.06)
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$0.02
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$(0.07)
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$0.03
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Shares
used in GAAP diluted shares calculation
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22,294
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22,190
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22,883
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22,242
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22,937
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Shares
used in non-GAAP diluted shares calculation
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22,294
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22,190
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22,883
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22,242
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22,937
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Aehr Test Systems Reports Second Quarter Fiscal 2019 Financial
Results
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January 10, 2019
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Page 7 of 7
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November 30,
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August 31,
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May 31,
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2018
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2018
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2018
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ASSETS
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Current
assets:
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Cash
and cash equivalents
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$14,002
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$15,864
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$16,848
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Accounts
receivable, net
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3,868
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2,272
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2,856
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Inventories
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9,983
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9,585
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9,049
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Prepaid
expenses and other
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688
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727
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703
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Total
current assets
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28,541
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28,448
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29,456
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Property
and equipment, net
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1,074
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1,174
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1,203
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Other
assets
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286
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266
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296
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Total
assets
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$29,901
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$29,888
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$30,955
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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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$6,110
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$6,110
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Accounts
payable
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1,953
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1,317
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1,762
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Accrued
expenses
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1,487
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1,498
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1,646
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Customer
deposits and deferred revenue, short-term
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2,068
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2,339
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1,630
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Total
current liabilities
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11,618
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11,264
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11,148
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Deferred
rent
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147
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145
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63
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Deferred
revenue, long-term
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252
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359
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459
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Total
liabilities
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12,017
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11,768
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11,670
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Aehr
Test Systems shareholders' equity
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17,902
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18,139
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19,305
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Noncontrolling
interest
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(18)
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(19)
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(20)
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Total
shareholders' equity
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17,884
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18,120
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19,285
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Total
liabilities and shareholders' equity
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$29,901
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$29,888
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$30,955
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