Contacts:
| Aehr Test Systems | MKR Investor Relations Inc. |
| Ken Spink | Todd Kehrli or Jim Byers |
| Chief Financial Officer | Analyst/Investor Contact |
| (510) 623-9400 x309 | (323) 468-2300 |
| aehr@mkr-group.com | |
– Financial Tables to Follow –
| AEHR TEST SYSTEMS AND SUBSIDIARIES | ||||||||||||||||||||
| Condensed Consolidated Statements of Operations | ||||||||||||||||||||
| (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 | ||||||||||||||||
| Net sales | $ | 6,111 | $ | 6,874 | $ | 3,163 | $ | 18,518 | $ | 13,814 | ||||||||||
| Cost of sales | 3,120 | 3,672 | 2,891 | 10,054 | 9,591 | |||||||||||||||
| Gross profit | 2,991 | 3,202 | 272 | 8,464 | 4,223 | |||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Selling, general and administrative | 1,891 | 2,157 | 1,850 | 5,856 | 5,706 | |||||||||||||||
| Research and development | 845 | 795 | 931 | 2,532 | 3,033 | |||||||||||||||
| Restructuring | - | - | 607 | - | 607 | |||||||||||||||
| Total operating expenses | 2,736 | 2,952 | 3,388 | 8,388 | 9,346 | |||||||||||||||
| Income (loss) from operations | 255 | 250 | (3,116 | ) | 76 | (5,123 | ) | |||||||||||||
| Interest income (expense), net | 13 | 2 | (76 | ) | 27 | (228 | ) | |||||||||||||
| Other (expense) income, net | (9 | ) | 5 | (11 | ) | 6 | 27 | |||||||||||||
| Income (loss) before income tax (expense) benefit | 259 | 257 | (3,203 | ) | 109 | (5,324 | ) | |||||||||||||
| Income tax (expense) benefit | (14 | ) | (6 | ) | 2 | (26 | ) | (21 | ) | |||||||||||
| Net income (loss) | 245 | 251 | (3,201 | ) | 83 | (5,345 | ) | |||||||||||||
| Less: Net income attributable to the | ||||||||||||||||||||
| noncontrolling interest | - | - | - | - | - | |||||||||||||||
| Net income (loss) attributable to Aehr Test | ||||||||||||||||||||
| Systems common shareholders | $ | 245 | $ | 251 | $ | (3,201 | ) | $ | 83 | $ | (5,345 | ) | ||||||||
| Net income (loss) per share | ||||||||||||||||||||
| Basic | $ | 0.01 | $ | 0.01 | $ | (0.14 | ) | $ | 0.00 | $ | (0.24 | ) | ||||||||
| Diluted | $ | 0.01 | $ | 0.01 | $ | (0.14 | ) | $ | 0.00 | $ | (0.24 | ) | ||||||||
| Shares used in per share calculations: | ||||||||||||||||||||
| Basic | 22,937 | 22,823 | 22,459 | 22,823 | 22,314 | |||||||||||||||
| Diluted | 23,130 | 22,912 | 22,459 | 22,940 | 22,314 | |||||||||||||||
