Aehr Reports Continued Strong Revenue and Earnings for the First Quarter of Fiscal 2024 on Strength of Production Wafer Level Burn-in Products for Silicon Carbide Semiconductors
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AEHR TEST SYSTEMS | | |
RECONCILIATION OF GAAP TO NON-GAAP RESULTS | | |
(Unaudited) | | | | |
Three Months Ended | | | | |
August 31, | |
May 31, | |
August 31, | | |
(in thousands, except per share data) | | |
2023 | | | |
2023 | | | |
2022 | | | |
Reconciliation of GAAP to non-GAAP gross profit | | | | | | | | | GAAP gross profit | | $ | 9,981 | | | $ | 11,479 | | | $ | 4,481 | | | | Special items: | | | | | | | | | a) Stock-based compensation expense | | | 63 | | | | 80 | | | | 91 | | | | Non-GAAP gross profit | | $ | 10,044 | | | $ | 11,559 | | | $ | 4,572 | | | |
Reconciliation of GAAP to non-GAAP operating expenses | | | | | | | | | GAAP operating expenses | | $ | 5,866 | | | $ | 5,840 | | | $ | 4,023 | | | | Special items: | | | | | | | | | a) Stock-based compensation expense | | | (459 | ) | | | (574 | ) | | | (619 | ) | | | Non-GAAP operating expenses | | $ | 5,407 | | | $ | 5,266 | | | $ | 3,404 | | | |
Reconciliation of GAAP to non-GAAP income from operations | | | | | | | | | GAAP income from operations | | $ | 4,115 | | | $ | 5,639 | | | $ | 458 | | | | Special items: | | | | | | | | | a) Stock-based compensation expense | | | 522 | | | | 654 | | | | 710 | | | | Non-GAAP income from operations | | $ | 4,637 | | | $ | 6,293 | | | $ | 1,168 | | | |
Reconciliation of GAAP to non-GAAP income before taxes | | | | | | | | | GAAP income before taxes | | $ | 4,690 | | | $ | 6,122 | | | $ | 603 | | | | Special items: | | | | | | | | | a) Stock-based compensation expense | | | 522 | | | | 654 | | | | 710 | | | | Non-GAAP income before taxes | | $ | 5,212 | | | $ | 6,776 | | | $ | 1,313 | | | |
Reconciliation of GAAP to non-GAAP net income | | | | | | | | | GAAP net income | | $ | 4,674 | | | $ | 6,111 | | | $ | 589 | | | | Special items: | | | | | | | | | a) Stock-based compensation expense | | | 522 | | | | 654 | | | | 710 | | | | Non-GAAP net income | | $ | 5,196 | | | $ | 6,765 | | | $ | 1,299 | | | | | | | | | | | | | GAAP income diluted per share | | $ | 0.16 | | | $ | 0.21 | | | $ | 0.02 | | | | Non-GAAP income diluted per share | | $ | 0.18 | | | $ | 0.23 | | | $ | 0.05 | | | | | | | | | | | |
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