Aehr Test Systems Reports 93% Revenue Growth Year over Year in Third Quarter

Contacts:

Aehr Test Systems MKR Investor Relations Inc.
Ken SpinkTodd Kehrli or Jim Byers
Chief Financial OfficerAnalyst/Investor Contact
(510) 623-9400 x309(323) 468-2300
 aehr@mkr-group.com
  


– Financial Tables to Follow –


 
AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
           
  Three Months Ended Nine Months Ended
  Feb 29, Nov 30, Feb 28, Feb 29, Feb 28,
  2020 2019 2019 2020 2019
           
Net sales$6,111  $6,874  $3,163  $18,518  $13,814 
Cost of sales 3,120   3,672   2,891   10,054   9,591 
Gross profit 2,991    3,202       272       8,464       4,223  
                     
Operating expenses:                  
Selling, general and administrative   1,891       2,157       1,850       5,856       5,706  
Research and development   845       795       931       2,532       3,033  
Restructuring   -       -       607       -       607  
Total operating expenses   2,736       2,952       3,388       8,388       9,346  
                     
Income (loss) from operations   255       250       (3,116 )     76       (5,123 )
                     
Interest income (expense), net   13       2       (76 )     27       (228 )
Other (expense) income, net   (9 )     5       (11 )     6       27  
                     
Income (loss) before income tax (expense) benefit   259       257       (3,203 )     109       (5,324 )
                     
Income tax (expense) benefit   (14 )     (6 )     2       (26 )     (21 )
                     
Net income (loss)   245       251       (3,201 )     83       (5,345 )
                     
Less:  Net income attributable to the                  
  noncontrolling interest   -       -       -       -       -  
                     
Net income (loss) attributable to Aehr Test                  
  Systems common shareholders $ 245     $ 251     $ (3,201 )   $ 83     $ (5,345 )
                     
Net income (loss) per share                  
Basic $ 0.01     $ 0.01     $ (0.14 )   $ 0.00     $ (0.24 )
Diluted $ 0.01     $ 0.01     $ (0.14 )   $ 0.00     $ (0.24 )
                     
Shares used in per share calculations:                  
Basic   22,937       22,823       22,459       22,823       22,314  
Diluted   23,130       22,912       22,459       22,940       22,314  
                     

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