Aehr Reports Record Revenue and Profit for Fiscal 2023 and Guides for Over 50% Increase in Revenue for Fiscal 2024 on Strength from Semiconductor Wafer Level Test and Burn-in Demand
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AEHR TEST SYSTEMS AND SUBSIDIARIES | |
Condensed Consolidated Balance Sheets | | (in thousands, except per share data) | | (unaudited) | | | | | | | | | | | | May 31, | | February 28, | | May 31, | | | | | 2023 | | | | 2023 | | | | 2022 | | |
ASSETS | | | | | | | | | | | | | | | | Current assets: | | | | | | | | Cash and cash equivalents | | $ | 30,054 | | | $ | 17,188 | | | $ | 31,484 | | | Short-term investments | | | 17,853 | | | | 25,577 | | | | - | | | Trade and other accounts receivable, net | | | 16,594 | | | | 11,389 | | | | 12,859 | | | Inventories | | | 23,908 | | | | 21,619 | | | | 15,051 | | | Prepaid expenses and other | | | 621 | | | | 808 | | | | 613 | | | Total current assets | | | 89,030 | | | | 76,581 | | | | 60,007 | | | | | | | | | | | Property and equipment, net | | | 2,759 | | | | 1,281 | | | | 1,203 | | | Operating lease right-of-use assets | | | 6,123 | | | | 6,293 | | | | 917 | | | Other assets | | | 231 | | | | 241 | | | | 201 | | | Total assets | | $ | 98,143 | | | $ | 84,396 | | | $ | 62,328 | | | | | | | | | | |
LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | | | | | | | | | | Current liabilities: | | | | | | | | Accounts payable | | $ | 9,206 | | | $ | 4,988 | | | $ | 4,195 | | | Accrued expenses | | | 4,143 | | | | 3,489 | | | | 3,610 | | | Operating lease liabilities, short-term | | | 137 | | | | 68 | | | | 794 | | | Customer deposits and deferred revenue, short-term | | | 2,822 | | | | 843 | | | | 2,415 | | | Total current liabilities | | | 16,308 | | | | 9,388 | | | | 11,014 | | | | | | | | | | | Operating lease liabilities, long-term | | | 6,163 | | | | 6,324 | | | | 212 | | | Deferred revenue, long-term | | | 31 | | | | 8 | | | | 69 | | | Other liabilities | | | 41 | | | | 42 | | | | 44 | | | Total liabilities | | | 22,543 | | | | 15,762 | | | | 11,339 | | | | | | | | | | | Total shareholders' equity | | | 75,600 | | | | 68,634 | | | | 50,989 | | | | | | | | | | | Total liabilities and shareholders' equity | | $ | 98,143 | | | $ | 84,396 | | | $ | 62,328 | |
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