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