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