Aehr Test Systems Reports Financial Results for the Fourth

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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