Aehr Test Systems Reports First Quarter Fiscal 2021 Financial Results and Maintains Financial Guidance for Growth and Profitability in Fiscal 2021
| | | | |
|
AEHR TEST SYSTEMS AND SUBSIDIARIES |
|
Condensed Consolidated Balance Sheets |
| (in thousands) |
| (unaudited) |
| | | | |
| | August 31, | | May 31, |
| | 2020 | | 2020 |
|
ASSETS | | | |
| | | | |
| Current assets: | | | |
| Cash and cash equivalents | $ | 6,313 | | $ | 5,433 | |
| Accounts receivable, net | | 1,116 | | | 3,717 | |
| Inventories | | 8,102 | | | 7,989 | |
| Prepaid expenses and other | | 439 | | | 512 | |
| Total current assets | | 15,970 | | | 17,651 | |
| | | | |
| Property and equipment, net | | 622 | | | 663 | |
| Operating lease right-of-use assets | | 1,952 | | | 2,107 | |
| Other assets | | 147 | | | 153 | |
| Total assets | $ | 18,691 | | $ | 20,574 | |
| | | | |
|
LIABILITIES AND SHAREHOLDERS' EQUITY | | |
| | | | |
| Current liabilities: | | | |
| Current portion of long-term debt | $ | 933 | | $ | 653 | |
| Accounts payable | | 809 | | | 945 | |
| Accrued expenses | | 1,373 | | | 1,439 | |
| Operating lease liabilities, short-term | | 671 | | | 658 | |
| Customer deposits and deferred revenue, short-term | | 387 | | | 170 | |
| Total current liabilities | | 4,173 | | | 3,865 | |
| | | | |
| Long-term debt, net of current portion | | 746 | | | 1,026 | |
| Lease liability long-term portion | | 1,432 | | | 1,605 | |
| Deferred revenue, long-term | | 19 | | | 22 | |
| Total liabilities | | 6,370 | | | 6,518 | |
| | | | |
| Aehr Test Systems shareholders' equity | | 12,321 | | | 14,077 | |
| Noncontrolling interest | | - | | | (21 | ) |
| Total shareholders' equity | | 12,321 | | | 14,056 | |
| Total liabilities and shareholders' equity | $ | 18,691 | | $ | 20,574 | |
