– Financial Tables to Follow –
| AEHR TEST SYSTEMS AND SUBSIDIARIES | ||||||||||||||||||||
| Condensed Consolidated Statements of Operations | ||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||
| May 31, | Feb 29, | May 31, | May 31, | May 31, | ||||||||||||||||
| 2016 | 2016 | 2015 | 2016 | 2015 | ||||||||||||||||
| Net sales | $ | 1,571 | $ | 1,677 | $ | 1,818 | $ | 14,501 | $ | 10,018 | ||||||||||
| Cost of sales | 1,669 | 1,508 | 1,136 | 9,356 | 6,180 | |||||||||||||||
| Gross (loss) profit | (98 | ) | 169 | 682 | 5,145 | 3,838 | ||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Selling, general and administrative | 1,722 | 1,695 | 1,526 | 6,975 | 6,470 | |||||||||||||||
| Research and development | 1,046 | 1,293 | 967 | 4,324 | 4,062 | |||||||||||||||
| Total operating expenses | 2,768 | 2,988 | 2,493 | 11,299 | 10,532 | |||||||||||||||
| Loss from operations | (2,866 | ) | (2,819 | ) | (1,811 | ) | (6,154 | ) | (6,694 | ) | ||||||||||
| Interest expense | (168 | ) | (165 | ) | (101 | ) | (605 | ) | (130 | ) | ||||||||||
| Other (expense) income, net | (23 | ) | (24 | ) | 10 | (16 | ) | 211 | ||||||||||||
| Loss before income tax | ||||||||||||||||||||
| benefit (expense) | (3,057 | ) | (3,008 | ) | (1,902 | ) | (6,775 | ) | (6,613 | ) | ||||||||||
| Income tax benefit (expense) | 1 | 33 | 2 | (10 | ) | (34 | ) | |||||||||||||
| Net loss | (3,056 | ) | (2,975 | ) | (1,900 | ) | (6,785 | ) | (6,647 | ) | ||||||||||
| Less: Net income attributable to the | ||||||||||||||||||||
| noncontrolling interest | - | - | - | - | - | |||||||||||||||
| Net loss attributable to Aehr Test | ||||||||||||||||||||
| Systems common shareholders | $ | (3,056 | ) | $ | (2,975 | ) | $ | (1,900 | ) | $ | (6,785 | ) | $ | (6,647 | ) | |||||
| Net loss per share | ||||||||||||||||||||
| Basic | $ | (0.23 | ) | $ | (0.23 | ) | $ | (0.15 | ) | $ | (0.52 | ) | $ | (0.55 | ) | |||||
| Diluted | $ | (0.23 | ) | $ | (0.23 | ) | $ | (0.15 | ) | $ | (0.52 | ) | $ | (0.55 | ) | |||||
| Shares used in per share calculations: | ||||||||||||||||||||
| Basic | 13,190 | 13,164 | 12,751 | 13,091 | 12,047 | |||||||||||||||
| Diluted | 13,190 | 13,164 | 12,751 | 13,091 | 12,047 | |||||||||||||||
