Aehr Test Systems Reports First Quarter Fiscal 2021 Financial Results and Maintains Financial Guidance for Growth and Profitability in Fiscal 2021


      
AEHR TEST SYSTEMS AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share data)
(unaudited)
      
      
 Three Months Ended
 Aug 31, May 31, Aug 31,
  2020   2020   2019 
      
GAAP net income (loss)$107  $(2,885) $(413)
Stock-based compensation expense 270   300   199 
Restructuring -   220   - 
Dissolution of Aehr Test Systems Japan (2,401)  -   - 
Excess and obsolescence provision -   1,645   - 
Non-GAAP net loss$(2,024) $(720)  $ (214 )
           
GAAP net income (loss) per diluted share $ 0.00     $ (0.13 )   $ (0.02 )
Non-GAAP net loss per diluted share $ (0.09 )   $ (0.03 )   $ (0.01 )
Shares used in GAAP diluted shares calculation   23,455       23,060       22,708  
Shares used in non-GAAP diluted shares calculation   23,248       23,060       22,708  
 
           
Non-GAAP net loss is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net 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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