Aehr Test Systems Reports Second Quarter Fiscal 2019 Financial Results


AEHR TEST SYSTEMS AND SUBSIDIARIES
Reconciliation of GAAP and Non-GAAP Results
(in thousands, except per share data)
(unaudited)
           
  Three Months Ended Six Months Ended
  Nov 30, Aug 31, Nov 30, Nov 30, Nov 30,
   2018   2018   2017  2018   2017
                   
                   
GAAP net (loss) income $(629) $(1,515) $60 $(2,144) $70
Stock-based compensation expense  224   256   364  480   580
Non-GAAP net (loss) income $(405) $(1,259) $424 $(1,664) $650
                   
GAAP net (loss) income per diluted share $(0.03) $(0.07) $0.00 $(0.10) $0.00
Non-GAAP net (loss) income per diluted share $(0.02) $(0.06) $0.02 $(0.07) $0.03
Shares used in GAAP diluted shares calculation  22,294      22,190       22,883     22,242       22,937
Shares used in non-GAAP diluted shares calculation     22,294       22,190       22,883     22,242       22,937
   
                     
Non-GAAP net (loss) income is a non-GAAP measure and should not be considered a replacement for GAAP results.  Non-GAAP net (loss) income 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) income (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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