Aehr Test Reports Second Consecutive Quarter of Record Bookings in Second Quarter of Fiscal 2022 on Strength of Semiconductor Test and Burn-In Sales for Electric Vehicles



AEHR TEST SYSTEMS AND SUBSIDIARIES
Reconciliation of GAAP and Non-GAAP Results
(in thousands, except per share data)
(unaudited)
            
   Three Months Ended Six Months Ended
   Nov 30, Aug 31, Nov 30, Nov 30, Nov 30,
    2021   2021   2020   2021   2020 
            
            
GAAP net income (loss) $717  $696  $(1,966)  $ 1,413     $ (1,859 )
Stock-based compensation expense     718       588       257       1,306       527  
Income from forgiveness of PPP loan     -       (1,698 )     -       (1,698 )     -  
Income from disolution of Aehr Test Systesm Japan       -       -       -       -       (2,401 )
Non-GAAP net income (loss)   $ 1,435     $ (414 )   $ (1,709 )   $ 1,021     $ (3,733 )
                       
GAAP net income (loss) per diluted share   $ 0.03     $ 0.03     $ (0.08 )   $ 0.05     $ (0.08 )
Non-GAAP net income (loss) per diluted share   $ 0.05     $ (0.02 )   $ (0.07 )   $ 0.04     $ (0.16 )
Shares used in GAAP diluted shares calculation     28,342       25,356       23,396       26,849       23,322  
Shares used in non-GAAP diluted shares calculation       28,342       23,999       23,396       26,849       23,322  
   
                       
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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