Aehr Test Systems Reports 93% Revenue Growth Year over Year in Third Quarter


 
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 29, Nov 30, Feb 28, Feb 29, Feb 28,
 2020 2019 2019
 2020 2019
          
          
GAAP net income (loss)$245  $251  $(3,201) $83  $(5,345)
Stock-based compensation expense 207   205   225   611   705 
Restructuring -   -   607    -       607  
Excess and obsolescence provision   -       -       795       -       795  
Non-GAAP net income (loss) $ 452     $ 456     $ (1,574 )   $ 694     $ (3,238 )
                   
GAAP net income (loss) per diluted share $ 0.01     $ 0.01     $ (0.14 )   $ 0.00     $ (0.24 )
Non-GAAP net income (loss) per diluted share $ 0.02     $ 0.02     $ (0.07 )   $ 0.03     $ (0.15 )
Shares used in GAAP diluted shares calculation   23,130       22,912       22,459       22,940       22,314  
Shares used in non-GAAP diluted shares calculation   23,130       22,912       22,459       22,940       22,314  
   
                   
Non-GAAP net income (loss)  is a non-GAAP measure and should not be considered a replacement for GAAP results.  Non-GAAP net income (loss)  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 income.  This limitation is best addressed by using this measure in combination with net income (loss) (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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