Aehr Test Systems Reports 24% Sequential Revenue Growth in

Aehr Test Systems Reports 24% Sequential Revenue Growth in Second Quarter and Reiterates Guidance for Significant Growth for Fiscal 2020

AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands, except per share data)
(unaudited)

	November 30,			August 31,			May 31,
		2019			2019			2019
ASSETS

Current assets:
Cash and cash equivalents	$	5,302		$	5,266		$	5,428
Accounts receivable, net		5,231			3,287			4,859
Inventories		9,800			9,217			9,061
Prepaid expenses and other		534			523			686
Total current assets		20,867			18,293			20,034

Property and equipment, net		860			1,000			1,045
Operating lease right-of-use assets		2,387			2,533			-
Other assets		186			199			228
Total assets	$	24,300		$	22,025		$	21,307

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Accounts payable	$	2,320		$	1,742		$	1,933
Accrued expenses		1,596			1,577			2,034
Operating lease liabilities, short-term		619			606			-
Customer deposits and deferred revenue, short-term		1,809			615			1,545
Total current liabilities		6,344			4,540			5,512

Deferred rent		-			-			153
Operating lease liabilities, long-term		1,924			2,086			-
Deferred revenue, long-term		64			113			189
Total liabilities		8,332			6,739			5,854

Aehr Test Systems shareholders' equity		15,988			15,306			15,472
Noncontrolling interest		(20	)		(20	)		(19	)
Total shareholders' equity		15,968			15,286			15,453

Total liabilities and shareholders' equity	$	24,300		$	22,025		$	21,307

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