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

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


AEHR TEST SYSTEMS AND SUBSIDIARIES
Reconciliation of GAAP and Non-GAAP Results
(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


GAAP net income (loss)	$	245	$	251	$	(3,201	)	$	83	$	(5,345	)
Stock-based compensation expense		207		205		225			611		705
Restructuring		-		-		607			-		607
Excess and obsolescence provision		-		-		795			-		795
Non-GAAP net income (loss)	$	452	$	456	$	(1,574	)	$	694	$	(3,238	)

GAAP net income (loss) per diluted share	$	0.01	$	0.01	$	(0.14	)	$	0.00	$	(0.24	)
Non-GAAP net income (loss) per diluted share	$	0.02	$	0.02	$	(0.07	)	$	0.03	$	(0.15	)
Shares used in GAAP diluted shares calculation		23,130		22,912		22,459			22,940		22,314
Shares used in non-GAAP diluted shares calculation		23,130		22,912		22,459			22,940		22,314


Non-GAAP net income (loss) is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net income (loss) is a financial measure the Company uses to evaluate the underlying results and operating performance of the business. The limitation of this measure is that it excludes items that impact the Company's current period net income. This limitation is best addressed by using this measure in combination with net income (loss) (the most directly comparable GAAP financial measure). These measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. We believe these measures enhance investors’ ability to review the company’s business from the same perspective as the company’s management and facilitate comparisons of this period’s results with prior periods.

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