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


  AEHR TEST SYSTEMS AND SUBSIDIARIES 
  Reconciliation of GAAP and Non-GAAP Results 
 (in thousands, except per share data) 
 (unaudited) 
              
              
    Three Months Ended Nine Months Ended 
    Feb 28, Nov 30, Feb 29, Feb 28, Feb 29, 
     2021   2020   2020  2021   2020 
              
              
 GAAP net (loss) income $(735) $(1,966) $245 $(2,594) $83 
 Stock-based compensation expense  271   257       207     798       611  
  Income from dissolution of Aehr Test Systems Japan       -       -       -     (2,401 )     -  
  Non-GAAP net (loss) income   $ (464 )   $ (1,709 )   $ 452   $ (4,197 )   $ 694  
                           
  GAAP net (loss) income per diluted share   $ (0.03 )   $ (0.08 )   $ 0.01   $ (0.11 )   $ 0.00  
  Non-GAAP net (loss) income per diluted share   $ (0.02 )   $ (0.07 )   $ 0.02   $ (0.18 )   $ 0.03  
  Shares used in GAAP diluted shares calculation     23,525       23,396       23,130     23,390       22,940  
  Shares used in non-GAAP diluted shares calculation       23,525       23,396       23,130     23,390       22,940  
       
                           
  Non-GAAP net (loss) income is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net (loss) income 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 (loss) income. This limitation is best addressed by using this measure in combination with net (loss) income (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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