Aehr Test Systems Reports Third Quarter Fiscal 2021 Financial Results; $8.0 Million Bookings Quarter Begins COVID-19 Recovery


         
AEHR TEST SYSTEMS AND SUBSIDIARIES 
Condensed Consolidated Balance Sheets 
(in thousands, except per share data) 
(unaudited) 
         
   February 28, November 30, May 31, 
    2021  2020  2020  
         
ASSETS       
         
Current assets:      
  Cash and cash equivalents$4,738 $3,449 $5,433  
  Accounts receivable, net 2,721  1,429  3,717  
  Inventories  8,339  9,057  7,989  
  Prepaid expenses and other 571  433  512  
      Total current assets 16,369  14,368   17,651    
                 
Property and equipment, net   617     683     663    
Operating lease right-of-use assets   1,763     1,918     2,107    
Other assets     142     142     153    
      Total assets $ 18,891   $ 17,111   $ 20,574    
                 
LIABILITIES AND SHAREHOLDERS' EQUITY          
                 
Current liabilities:            
  Accounts payable $ 1,086   $ 1,155   $ 945    
  Accrued expenses   1,624     1,344     1,439    
  Operating lease liabilities, short-term   722     705     658    
  Customer deposits and deferred revenue, short-term       587     66     170    
  Line of credit   1,400     -     -    
  Current portion of long-term debt   1,492     1,213     653    
      Total current liabilities   6,911     4,483     3,865    
                 
Operating lease liabilities, long-term   1,185     1,361     1,605    
Long-term debt, net of current portion   187     466     1,026    
Deferred revenue, long-term   80     9     22    
Other liabilities   43     -     -    
      Total liabilities   8,406     6,319     6,518    
                 
Aehr Test Systems shareholders' equity   10,485     10,792     14,077    
Noncontrolling interest   -     -     (21 )  
      Total shareholders' equity   10,485     10,792     14,056    
      Total liabilities and shareholders' equity $ 18,891   $ 17,111   $ 20,574    
                 

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