Aehr Test Systems Reports First Quarter Fiscal 2021 Financial Results and Maintains Financial Guidance for Growth and Profitability in Fiscal 2021
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AEHR TEST SYSTEMS AND SUBSIDIARIES | |
Condensed Consolidated Balance Sheets | | (in thousands) | | (unaudited) | | | | | | | | August 31, | | May 31, | | | 2020 | | 2020 | |
ASSETS | | | | | | | | | | Current assets: | | | | | Cash and cash equivalents | $ | 6,313 | | $ | 5,433 | | | Accounts receivable, net | | 1,116 | | | 3,717 | | | Inventories | | 8,102 | | | 7,989 | | | Prepaid expenses and other | | 439 | | | 512 | | | Total current assets | | 15,970 | | | 17,651 | | | | | | | | Property and equipment, net | | 622 | | | 663 | | | Operating lease right-of-use assets | | 1,952 | | | 2,107 | | | Other assets | | 147 | | | 153 | | | Total assets | $ | 18,691 | | $ | 20,574 | | | | | | | |
LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | Current liabilities: | | | | | Current portion of long-term debt | $ | 933 | | $ | 653 | | | Accounts payable | | 809 | | | 945 | | | Accrued expenses | | 1,373 | | | 1,439 | | | Operating lease liabilities, short-term | | 671 | | | 658 | | | Customer deposits and deferred revenue, short-term | | 387 | | | 170 | | | Total current liabilities | | 4,173 | | | 3,865 | | | | | | | | Long-term debt, net of current portion | | 746 | | | 1,026 | | | Lease liability long-term portion | | 1,432 | | | 1,605 | | | Deferred revenue, long-term | | 19 | | | 22 | | | Total liabilities | | 6,370 | | | 6,518 | | | | | | | | Aehr Test Systems shareholders' equity | | 12,321 | | | 14,077 | | | Noncontrolling interest | | - | | | (21 | ) | | Total shareholders' equity | | 12,321 | | | 14,056 | | | Total liabilities and shareholders' equity | $ | 18,691 | | $ | 20,574 | |
 
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