Aehr Test Systems Reports 24% Sequential Revenue Growth in Second Quarter and Reiterates Guidance for Significant Growth for Fiscal 2020
|
AEHR TEST SYSTEMS AND SUBSIDIARIES |
|
Condensed Consolidated Balance Sheets |
| (in thousands, except per share data) |
| (unaudited) |
| | | | | | | | |
| | | | November 30, | August 31, | | May 31, |
| | | | | 2019 | | | | 2019 | | | | 2019 | |
|
ASSETS | | | | | | |
| | | | | | | | |
| Current assets: | | | | | |
| Cash and cash equivalents | $ | 5,302 | | | $ | 5,266 | | | $ | 5,428 | |
| Accounts receivable, net | | 5,231 | | | | 3,287 | | | | 4,859 | |
| Inventories | | | 9,800 | | | | 9,217 | | | | 9,061 | |
| Prepaid expenses and other | | 534 | | | | 523 | | | | 686 | |
| Total current assets | | 20,867 | | | | 18,293 | | | | 20,034 | |
| | | | | | | | |
| Property and equipment, net | | 860 | | | | 1,000 | | | | 1,045 | |
| Operating lease right-of-use assets | | 2,387 | | | | 2,533 | | | | - | |
| Other assets | | | 186 | | | | 199 | | | | 228 | |
| Total assets | $ | 24,300 | | | $ | 22,025 | | | $ | 21,307 | |
| | | | | | | | |
|
LIABILITIES AND SHAREHOLDERS' EQUITY | | | | |
| | | | | | | | |
| Current liabilities: | | | | | |
| Accounts payable | $ | 2,320 | | | $ | 1,742 | | | $ | 1,933 | |
| Accrued expenses | | 1,596 | | | | 1,577 | | | | 2,034 | |
| Operating lease liabilities, short-term | | 619 | | | | 606 | | | | - | |
| Customer deposits and deferred revenue, short-term | | | | 1,809 | | | | 615 | | | | 1,545 | |
| Total current liabilities | | 6,344 | | | | 4,540 | | | | 5,512 | |
| | | | | | | | |
| Deferred rent | | | - | | | | - | | | | 153 | |
| Operating lease liabilities, long-term | | 1,924 | | | | 2,086 | | | | - | |
| Deferred revenue, long-term | | 64 | | | | 113 | | | | 189 | |
| Total liabilities | | 8,332 | | | | 6,739 | | | | 5,854 | |
| | | | | | | | |
| Aehr Test Systems shareholders' equity | | 15,988 | | | | 15,306 | | | | 15,472 | |
| Noncontrolling interest | | (20 | ) | | | (20 | ) | | | (19 | ) |
| Total shareholders' equity | | 15,968 | | | | 15,286 | | | | 15,453 | |
| | | | | | | | |
| Total liabilities and shareholders' equity | $ | 24,300 | | | $ | 22,025 | | | $ | 21,307 | |
| | | | | | | | |
