Aehr Test Systems Reports 24% Sequential Revenue Growth in Second Quarter and Reiterates Guidance for Significant Growth for Fiscal 2020
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Contacts: | |
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Aehr Test Systems |
MKR Investor Relations Inc. |
| Ken Spink | Todd Kehrli or Jim Byers |
| Chief Financial Officer | Analyst/Investor Contact |
| (510) 623-9400 x309 | (323) 468-2300 |
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Email Contact | |
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AEHR TEST SYSTEMS AND SUBSIDIARIES |
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Condensed Consolidated Statements of Operations |
| (in thousands, except per share data) |
| (unaudited) |
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| | | Three Months Ended | | Six Months Ended |
| | | Nov 30, | | Aug 31, | | Nov 30, | | Nov 30, | | Nov 30, |
| | | | 2019 | | | | 2019 | | | | 2018 | | | | 2019 | | | | 2018 | |
| | | | | | | | | | | |
| Net sales | $ | 6,874 | | | $ | 5,533 | | | $ | 5,911 | | | $ | 12,407 | | | $ | 10,651 | |
| Cost of sales | | 3,672 | | | | 3,262 | | | | 3,513 | | | | 6,934 | | | | 6,700 | |
| Gross profit | | 3,202 | | | | 2,271 | | | | 2,398 | | | | 5,473 | | | | 3,951 | |
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| Operating expenses: | | | | | | | | | |
| Selling, general and administrative | | 2,157 | | | | 1,808 | | | | 1,977 | | | | 3,965 | | | | 3,856 | |
| Research and development | | 795 | | | | 892 | | | | 986 | | | | 1,687 | | | | 2,102 | |
| Total operating expenses | | 2,952 | | | | 2,700 | | | | 2,963 | | | | 5,652 | | | | 5,958 | |
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| Income (loss) from operations | | 250 | | | | (429 | ) | | | (565 | ) | | | (179 | ) | | | (2,007 | ) |
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| Interest income (expense), net | | 2 | | | | 12 | | | | (74 | ) | | | 14 | | | | (152 | ) |
| Other income, net | | 5 | | | | 10 | | | | 29 | | | | 15 | | | | 38 | |
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| Income (loss) before income tax expense | | 257 | | | | (407 | ) | | | (610 | ) | | | (150 | ) | | | (2,121 | ) |
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| Income tax expense | | (6 | ) | | | (6 | ) | | | (19 | ) | | | (12 | ) | | | (23 | ) |
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| Net income (loss) | | 251 | | | | (413 | ) | | | (629 | ) | | | (162 | ) | | | (2,144 | ) |
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| Less: Net income attributable to the | | | | | | | | | |
| | noncontrolling interest | | - | | | | - | | | | - | | | | - | | | | - | |
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| Net income (loss) attributable to Aehr Test | | | | | | | | | |
| | Systems common shareholders | $ | 251 | | | $ | (413 | ) | | $ | (629 | ) | | $ | (162 | ) | | $ | (2,144 | ) |
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| Net income (loss) per share | | | | | | | | | |
| Basic | $ | 0.01 | | | $ | (0.02 | ) | | $ | (0.03 | ) | | $ | (0.01 | ) | | $ | (0.10 | ) |
| Diluted | $ | 0.01 | | | $ | (0.02 | ) | | $ | (0.03 | ) | | $ | (0.01 | ) | | $ | (0.10 | ) |
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| Shares used in per share calculations: | | | | | | | | | |
| Basic | | 22,823 | | | | 22,708 | | | | 22,294 | | | | 22,765 | | | | 22,242 | |
| Diluted | | 22,912 | | | | 22,708 | | | | 22,294 | | | | 22,765 | | | | 22,242 | |
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