Aehr Test Reports Second Consecutive Quarter of Record Bookings in Second Quarter of Fiscal 2022 on Strength of Semiconductor Test and Burn-In Sales for Electric Vehicles
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AEHR TEST SYSTEMS AND SUBSIDIARIES |
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Reconciliation of GAAP and Non-GAAP Results |
| (in thousands, except per share data) |
| (unaudited) |
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| | | | Three Months Ended | | Six Months Ended |
| | | | Nov 30, | | Aug 31, | | Nov 30, | | Nov 30, | | Nov 30, |
| | | | | 2021 | | | | 2021 | | | | 2020 | | | | 2021 | | | | 2020 | |
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| GAAP net income (loss) | | $ | 717 | | | $ | 696 | | | $ | (1,966 | ) | | $ | 1,413 | | | $ | (1,859 | ) |
| Stock-based compensation expense | | | 718 | | | | 588 | | | | 257 | | | | 1,306 | | | | 527 | |
| Income from forgiveness of PPP loan | | | - | | | | (1,698 | ) | | | - | | | | (1,698 | ) | | | - | |
| Income from disolution of Aehr Test Systesm Japan | | | | - | | | | - | | | | - | | | | - | | | | (2,401 | ) |
| Non-GAAP net income (loss) | | $ | 1,435 | | | $ | (414 | ) | | $ | (1,709 | ) | | $ | 1,021 | | | $ | (3,733 | ) |
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| GAAP net income (loss) per diluted share | | $ | 0.03 | | | $ | 0.03 | | | $ | (0.08 | ) | | $ | 0.05 | | | $ | (0.08 | ) |
| Non-GAAP net income (loss) per diluted share | | $ | 0.05 | | | $ | (0.02 | ) | | $ | (0.07 | ) | | $ | 0.04 | | | $ | (0.16 | ) |
| Shares used in GAAP diluted shares calculation | | | 28,342 | | | | 25,356 | | | | 23,396 | | | | 26,849 | | | | 23,322 | |
| Shares used in non-GAAP diluted shares calculation | | | | 28,342 | | | | 23,999 | | | | 23,396 | | | | 26,849 | | | | 23,322 | |
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Non-GAAP net income (loss) is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net income (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 income (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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