Aehr Test Systems Reports 30% Revenue Growth for Fiscal Year 2017 and Provides Financial Guidance for Fiscal 2018

 

AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
      
 May 31, February 28, May 31,
  2017   2017   2016 
ASSETS     
      
Current assets:     
Cash and cash equivalents$17,803  $2,039  $939 
Accounts receivable, net 4,010   1,596   522 
Inventories 6,604   7,207   7,033 
Prepaid expenses and other 961   354   254 
Total current assets 29,378   11,196   8,748 
      
Property and equipment, net 1,419   861   1,204 
Other assets 95   96   94 
Total assets$30,892  $12,153  $10,046 
      
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)    
      
Current liabilities:     
Accounts payable$2,808  $1,821  $1,413 
Accrued expenses 1,609   1,897   1,553 
Customer deposits and deferred revenue, short-term 3,467   1,012    1,714  
Total current liabilities   7,884       4,730       4,680  
           
Long-term debt   6,110       6,095       5,962  
Deferred revenue, long-term   104       32       127  
Total liabilities   14,098       10,857       10,769  
           
Aehr Test Systems shareholders' equity (deficit)   16,813       1,315       (703 )
Noncontrolling interest   (19 )     (19 )     (20 )
Total shareholders' equity (deficit)   16,794       1,296       (723 )
           
Total liabilities and shareholders' equity (deficit) $ 30,892     $ 12,153     $ 10,046  
           

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