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

 

AEHR TEST SYSTEMS AND SUBSIDIARIES 
Reconciliation of GAAP and Non-GAAP Results 
(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  
             
             
GAAP net loss $(3,056) $(2,975) $(1,900) $(6,785) $(6,647) 
Stock-based compensation expense  230   213   303   1,016   997  
Non-GAAP net loss $(2,826) $(2,762) $(1,597) $(5,769) $(5,650) 
            
GAAP net loss per diluted share $(0.23) $(0.23) $(0.15) $(0.52) $(0.55) 
Non-GAAP net loss per diluted share $(0.21) $ (0.21 )   $ (0.13 )   $ (0.44 )   $ (0.47 )  
Shares used in diluted shares calculation     13,190       13,164       12,751       13,091       12,047    
Shares used in non-GAAP diluted shares calculation     13,190       13,164       12,751       13,091       12,047    
   
   
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 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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