Aehr Test Systems Reports Financial Results for the Fourth Quarter and Fiscal Year Ended May 31, 2016
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AEHR TEST SYSTEMS AND SUBSIDIARIES | | |
Condensed Consolidated Balance Sheets | | | (in thousands, except per share data) | | | (unaudited) | | | | | | | | | May 31, | | February 29, | | May 31, | | | | | | | 2016 | | | | 2016 | | | | 2015 | | | | | | | | | | | | | |
ASSETS | | | | | | | | | | | | | | | | Current assets: | | | | | | | | Cash and cash equivalents | $ | 939 | | | $ | 2,472 | | | $ | 5,527 | | | | Accounts receivable, net | | 522 | | | | 1,947 | | | | 1,383 | | | | Inventories | | 7,033 | | | | 7,378 | | | | 7,123 | | | | Prepaid expenses and other | | 254 | | | | 297 | | | | 262 | | | | Total current assets | | 8,748 | | | | 12,094 | | | | 14,295 | | | | | | | | | | | | Property and equipment, net | | 1,204 | | | | 1,251 | | | | 478 | | | | Other assets | | 94 | | | | 94 | | | | 95 | | | | Total assets | $ | 10,046 | | | $ | 13,439 | | | $ | 14,868 | | | | | | | | | | |
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
| | | | | | | | | | | | | | | Current liabilities: | | | | | | | | Line of credit | $ | 1,100 | | | $ | 2,000 | | | $ | - | | | | Current portion of long-term debt | | 4,862 | | | | - | | | | - | | | | Accounts payable | | 1,413 | | | | 1,883 | | | | 724 | | | | Accrued expenses | | 1,553 | | | | 1,458 | | | | 1,045 | | | | Customer deposits and deferred revenue, short-term | | 1,714 | | | | 2,026 | | | | 4,750 | | | | Total current liabilities | | 10,642 | | | | 7,367 | | | | 6,519 | | | | | | | | | | | | Long-term debt | | - | | | | 3,917 | | | | 3,791 | | | | Income taxes payable | | - | | | | - | | | | 8 | | | | Deferred revenue, long-term | | 127 | | | | 127 | | | | - | | | | Total liabilities | | 10,769 | | | | 11,411 | | | | 10,318 | | | | | | | | | | | | Aehr Test Systems shareholders' equity (deficit) | | (703 | ) | | | 2,047 | | | | 4,568 | | | | Noncontrolling interest | | (20 | ) | | | (19 | ) | | | (18 | ) | | | Total shareholders' equity (deficit) | | (723 | ) | | | 2,028 | | | | 4,550 | | | | Total liabilities and shareholders' equity (deficit) | $ | 10,046 | | | $ | 13,439 | | | $ | 14,868 | | | | | | | | | | | | |
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