Aehr Test Systems Reports Financial Results for the Fourth Quarter and Fiscal Year Ended May 31, 2016

– Financial Tables to Follow

 
AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
           
  Three Months Ended Year Ended
  May 31, Feb 29, May 31, May 31, May 31,
   2016   2016   2015   2016   2015 
           
Net sales$1,571  $1,677  $1,818  $14,501  $10,018 
Cost of sales 1,669   1,508   1,136   9,356   6,180 
Gross (loss) profit (98)  169   682   5,145   3,838 
           
Operating expenses:         
Selling, general and administrative 1,722   1,695   1,526   6,975   6,470 
Research and development 1,046   1,293   967   4,324   4,062 
Total operating expenses 2,768   2,988   2,493     11,299       10,532  
                   
Loss from operations   (2,866 )     (2,819 )     (1,811 )     (6,154 )     (6,694 )
                     
Interest expense   (168 )     (165 )     (101 )     (605 )     (130 )
Other (expense) income, net   (23 )     (24 )     10       (16 )     211  
                   
Loss before income tax                  
benefit (expense)   (3,057 )     (3,008 )     (1,902 )     (6,775 )     (6,613 )
                   
Income tax benefit (expense)   1       33       2       (10 )     (34 )
                   
Net loss   (3,056 )     (2,975 )     (1,900 )     (6,785 )     (6,647 )
                   
Less:  Net income attributable to the          
noncontrolling interest   -       -       -       -       -  
                   
Net loss attributable to Aehr Test          
Systems common shareholders $ (3,056 )   $ (2,975 )   $ (1,900 )   $ (6,785 )   $ (6,647 )
                   
Net loss per share                  
Basic $ (0.23 )   $ (0.23 )   $ (0.15 )   $ (0.52 )   $ (0.55 )
Diluted $ (0.23 )   $ (0.23 )   $ (0.15 )   $ (0.52 )   $ (0.55 )
                   
Shares used in per share calculations:                          
Basic   13,190       13,164       12,751       13,091       12,047  
Diluted   13,190       13,164       12,751       13,091       12,047  
                     

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