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Aehr Test Systems (AEHR)

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3.2100 +0.01 (0.31%)
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Previous Close3.0000
Open3.0000
Bid0.0000 x 4000
Ask3.3500 x 800
Day's Range2.9900 - 3.4000
52 Week Range1.1000 - 3.6000
Volume1,800,980
Avg. Volume601,693
Market Cap75.173M
Beta (5Y Monthly)1.21
PE Ratio (TTM)N/A
EPS (TTM)-0.1940
Earnings DateMar 31, 2021 - Apr 05, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • AEHR Receives Over $1.3 Million in Orders for WaferPak™ Consumables for Volume Production Test of Electric Vehicle and Data Center Devices
    GlobeNewswire

    AEHR Receives Over $1.3 Million in Orders for WaferPak™ Consumables for Volume Production Test of Electric Vehicle and Data Center Devices

    FREMONT, Calif., Feb. 22, 2021 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced it has received orders for its proprietary WaferPak consumables totaling over $1.3 million from existing customers for their installed base of FOX multi-wafer test systems. The orders are for multiple new designs and ramp of volume production test of silicon carbide power semiconductors for electric and hybrid electric vehicles and silicon photonics devices for data center and 5G infrastructure fiber optic transceivers. Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We are pleased to report these orders for our WaferPak full wafer test and burn-in contactors, which include new designs as well as added production capacity from customers in the silicon carbide and silicon photonics segments. “These orders reflect multiple new WaferPak design wins for volume production test of silicon carbide power semiconductors for electric and hybrid electric vehicles. Our WaferPaks, in combination with Aehr’s FOX-XP multi-wafer test and burn-in systems, have now been in production and qualified by automotive suppliers for full wafer test of silicon carbide power devices used in electric and hybrid electric vehicle power trains since early 2020. Multiple WaferPak designs that were previously shipped have now been qualified and are ramping in production. We anticipate new production capacity orders over the next year for systems and WaferPaks from our existing as well as new customers for production test and burn-in of silicon carbide devices. “The silicon carbide semiconductor device market is growing very rapidly and is a new and exciting market opportunity for Aehr and our unique FOX wafer level test solutions. Silicon carbide is exceptionally well suited for high power and particularly high voltage power applications such as the needs of electric and hybrid electric vehicles power trains, electric vehicle charging infrastructure, IT/data center power supplies, and renewable energy power conversion such as wind and solar. Silicon carbide based power transistors used in the power conversion are much more efficient than other semiconductor materials and are extremely reliable. Many companies are making significant investments in silicon carbide and most car manufacturers making electric vehicles/hybrid electric vehicles are expected to use silicon carbide power devices in the near future. “Interestingly, while silicon carbide is known for its high reliability, it is also well known in the industry to have high infant mortality rates. However, these defects can be completely removed after a reliability burn-in screening to provide extremely reliable devices for mission critical applications such electric vehicle power conversion. A critical capability that only Aehr’s solution can provide on the market today is the ability to test 100% of the die on a wafer in a single insertion before it is put into a single or multi-die package or module while providing 100% traceability of pass/fail results of each device including exactly what time during the test and burn-in cycle the devices failed. This is a critical feature that provides confidence to customers that they are removing all early life failures prior to shipment. Our systems are not only able to test 100% of their devices on 4”, 6”, 8” and 12” wafers, but we can test and burn-in 18 wafers at a time in a single FOX-XP system. By moving these tests to wafer, it saves the significant cost and impact of yield loss at the package or module level. “We are also excited to see this new wave of capacity needs from our silicon photonics customers, and to see the resumption of orders to these customers for devices for data center and 5G infrastructure expansions that is driving the increased test capacity need. We continue to be very optimistic about the silicon photonics market, which is seeing increasing deployment of devices used in the expansion of bandwidth and infrastructure to meet the explosive growth of data center and 5G. Silicon photonics devices are highly integrated silicon based semiconductors that have embedded or integrated the non silicon based laser transmitters and receivers to enable a smaller, lower cost, higher reliable alternative to traditional fiber optic transceivers currently used in data center and telecommunication infrastructure. “Silicon photonics devices all need to have their photonics transmitters stabilized under high power and temperature and customers also use our systems to screen for infant mortality of these devices to ensure high initial quality and long-term reliability. This is a manufacturing step done on 100% of the die, and in the case of silicon photonics we provide a much more cost effective and scalable solution for this step than doing this equivalent stabilization and screening after the die are put onto the final PCB substrate and package. Market research company Yole Dévelopement predicts the silicon photonics market will grow at a CAGR of 42% between 2019 and 2025 to a $3.6 billion annual market and we believe that the industry will transition to wafer level or singulated die for this critical manufacturing step, which is where our FOX-P products stand alone as the most cost effective solution for this and a portfolio of patents and IP in this area. “We believe the electric vehicles market, the data storage and network infrastructure market, as well as multiple devices related to the worldwide 5G build-out are substantial new opportunities for our test and burn-in systems, where these end markets and customers require devices to have extremely high levels of quality and long-term reliability. “Our customers purchase our proprietary WaferPak contactors not only with new systems orders, but also for their installed base of systems each time they have a change in their device design or add new devices to production. As we increase our installed base of FOX systems with current and new customers, particularly with our FOX-XP™ multi wafer systems, our consumables business will continue to grow in absolute value and as a percentage of our total sales. Over the long term, we expect to see as much as 50 percent of our total annual revenue to come from consumables as our systems business continues to grow,” Mr. Erickson concluded. The FOX-XP system, available with multiple WaferPak™ Contactors (full wafer test) or multiple DiePak™ Carriers (singulated die/module test) configurations, is capable of functional test and burn-in/cycling of integrated devices such as silicon carbide power devices, silicon photonics as well as other optical devices, 2D and 3D sensors, flash memories, Gallium Nitride (GaN), magnetic sensors, microcontrollers, and other leading-edge ICs in either wafer formfactor, before they are assembled into single or multi-die stacked packages, or in singulated die or module formfactor. About Aehr Test Systems Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic, optical and memory integrated circuits and has installed over 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr Test products in package, wafer level, and singulated die/module level test. Aehr Test has developed and introduced several innovative products, including the ABTS™ and FOX-P™ families of test and burn-in systems and FOX WaferPak™ Aligner, FOX-XP WaferPak Contactor, FOX DiePak® Carrier and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for both lower power and higher power logic devices as well as all common types of memory devices. The FOX-XP and FOX-NP systems are full wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a new low-cost single-wafer compact test and reliability verification solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The WaferPak contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of both bare die and modules. For more information, please visit Aehr Test Systems’ website at www.aehr.com. Safe Harbor StatementThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or Aehr’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern Aehr’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, Aehr’s ability to generate bookings and revenue increases in the future, including the second half of fiscal 2021; future requirements and orders of Aehr’s new and existing customers; bookings forecasted for proprietary WaferPak™ and DiePak consumables across multiple market segments; the temporary nature of customer pushouts; shipping timelines for products and follow-on capacity orders; the growth of Aehr’s systems and consumables, including as a percentage of total sales; financial guidance for fiscal 2021, including related to revenue and profitability; Aehr’s ability to expand its number of customers using its FOX-P™ solutions; the ability to secure potential customer engagements; expectations related to long-term demand for Aehr’s productions and the attractiveness of key markets; the belief that Aehr will be stronger after the current worldwide COVID-19 pandemic, including expectations related to greater production, more customers, more applications, and higher value products. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Aehr’s Form 10-K for fiscal 2020, Form 10-Q for the first fiscal quarter of fiscal 2021 and other reports filed from time to time with the Securities and Exchange Commission. Aehr disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release. Contacts: Aehr Test Systems Vernon Rogers EVP Sales and Marketing (510) 623-9400 x215 vrogers@aehr.com MKR Investor Relations Inc.Todd Kehrli or Jim ByersAnalyst/Investor Contact (323) 468-2300aehr@mkr-group.com

  • Benzinga

    Aehr Test Systems: Q2 Earnings Insights

    Shares of Aehr Test Systems (NASDAQ:AEHR) fell 19.6% after the company reported Q2 results.Quarterly Results Earnings per share were down 800.00% over the past year to ($0.07), which missed the estimate of ($0.05).Revenue of $1,683,000 decreased by 75.52% from the same period last year, which missed the estimate of $3,320,000.Guidance Aehr Test Systems Cuts FY21 Sales Guidance From $25M-$28M To $20M-$25M Vs. $25.07M Est.Conference Call Details Date: Jan 07, 2021Time: 05:00 PMView more earnings on AEHRET Webcast URL: https://www.aehr.com/investor-relations/Technicals 52-week high: $2.7852-week low: $1.10Price action over last quarter: Up 66.67%Company Profile Aehr Test Systems is engaged in test systems for burning-in and testing logic, optical, and memory integrated circuits. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, incremental capacity needs, and new opportunities for the company's products in package, wafer level, and singulated die/module level test. The company provides production solutions across the product manufacturing flow to improve yield and reliability and has developed and introduced several innovative products, including the ABTSTM and FOX-PTM families of test and burn-in systems and FOX WaferPakTM Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier and FOX DiePak Loader.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For January 7, 2021(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Aehr Test Systems Reports Second Quarter Fiscal 2021 Financial Results
    GlobeNewswire

    Aehr Test Systems Reports Second Quarter Fiscal 2021 Financial Results

    FREMONT, Calif., Jan. 07, 2021 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced financial results for its second quarter of fiscal 2021 ended November 30, 2020.Fiscal Second Quarter Financial Results: * Net sales were $1.7 million, compared to $6.9 million in the second quarter of fiscal 2020. * GAAP net loss was $2.0 million, or $0.08 per diluted share, compared to GAAP net income of $251,000, or $0.01 per diluted share, in the second quarter of fiscal 2020. * Non-GAAP net loss was $1.7 million, or $0.07 per diluted share, which excludes the impact of stock-based compensation, compared to non-GAAP net income of $456,000, or $0.02 per diluted share, in the second quarter of fiscal 2020. * Backlog as of November 30, 2020 was $1.1 million.Fiscal First Six Months Financial Results: * Net sales were $3.7 million, compared to $12.4 million in the first six months of fiscal 2020. * GAAP net loss was $1.9 million, or $0.08 per diluted share, compared to a GAAP net loss of $162,000, or $0.01 per diluted share, in the first six months of fiscal 2020. * Non-GAAP net loss was $3.7 million, or $0.16 per diluted share, which excludes the impact of stock-based compensation and non-cash net gain of $2.2 million and a tax benefit of $215,000 related to the closure of Aehr’s Japan subsidiary during the first quarter. This compared to non-GAAP net income of $242,000, or $0.01 per diluted share, in the first six months of fiscal 2020. An explanation of the use of non-GAAP financial measures and a reconciliation of Aehr’s non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying tables.Fiscal First Six Months COVID-19 Related Business Impacts: * Bookings and Revenue Negatively Impacted by COVID-19 – Bookings and revenues during the first six months of fiscal 2021 were negatively impacted due to several customer-specific production ramp delays and push outs due to COVID-19 related impacts. Aehr continues to be optimistic about generating significant bookings and revenue increases in the second half of the 2021 fiscal year compared to the first half. * New Customer Evaluations and Orders Experienced Delays – While Aehr continues to engage in ongoing discussions with a large number of potential new customers, these discussions have been slowed by travel-related restrictions due to the COVID-19 pandemic and related precautions taken by several new potential customers worldwide, including policies for limited on-site engineers, which have delayed evaluations and initial orders for Aehr’s systems and consumable products in the first six months of fiscal 2021. * Temporary Cost Reductions Implemented in Response to Delays in Expected Orders and Revenue – During the first quarter of fiscal 2021, Aehr implemented temporary expense reductions across Aehr including executive staff pay reductions due to customer order push outs and delays in production ramps. These changes resulted in total cost savings of over $550,000 in the second quarter of fiscal 2021. Fiscal Second Quarter and Recent Business Highlights: * Received $4.3 million initial order from a new customer that is a supplier of sensors to a major mobile device manufacturer for a FOX-XP™ production test and burn-in system, a set of DiePak Carriers®, and a FOX Automated DiePak loader / unloader for a new high-volume application for production test and burn-in of mobile sensors. Aehr was selected due to the unique technical capabilities and cost effectiveness of its solution critical to this application, which will require 100% test, burn-in, traceability and validation of the devices. * Received a design win and an initial order for multiple DiePak Carriers for test and burn-in of next generation sensor modules for mobile devices, expanding deployment of its test solutions to additional devices with this large multinational customer. The customer will use these Aehr proprietary DiePaks for production qualification, test, and burn-in of these devices prior to volume production orders for additional DiePaks forecasted for later in Aehr’s current fiscal year. * Since the beginning of fiscal third quarter, Aehr has received multiple follow-on orders and is seeing an increase in bookings forecasts for its proprietary WaferPakTM and DiePak consumables across multiple market segments including silicon photonics, silicon carbide, mobile sensors, and flash memory for Aehr’s installed base of FOX multi-wafer and singulated die/module test systems. These orders reflect capacity and consumable needs for previously announced new design wins as well as recent new design wins from customers for devices in these key market segments. Gayn Erickson, President and CEO of Aehr Test Systems, commented:“As we anticipated last quarter, our revenue and bookings for the first half of our fiscal year were impacted by the continued challenging global business environment created by the COVID-19 pandemic and several customer specific production ramp delays and push outs of forecasted orders. These customers continue to indicate they believe the push outs are temporary and that they will require additional system capacity and consumables this fiscal year, and we continue to be optimistic about the second half of the year for significant bookings and revenue increases over the first half.“At the start of the third quarter, we were excited to receive a new design win for a new high-volume application for production test and burn-in of mobile sensors, which began with an initial $4.3 million order from this new customer that is a supplier of sensors to a major mobile device manufacturer. This initial test cell is expected to ship during the current fiscal third quarter and we expect follow-on capacity orders from this customer later in the current fiscal year for additional test system capacity, DiePak Carriers and our DiePak auto loader solution for handling.“Since the beginning of this fiscal third quarter, we have also seen an increase in bookings and forecasts for additional WaferPaks and DiePaks consumables for our installed base of systems, reflecting customer capacity and consumable needs for our previously announced new design wins. We are forecasting additional DiePaks and WaferPaks orders during the second half of the 2021 fiscal year from our installed base for applications in silicon photonics, silicon carbide, mobile sensors, and flash memory market segments.“As we’ve noted before, Aehr’s proprietary test and burn-in solutions include customized WaferPaks and DiePaks that are needed not only for new systems orders but also for each new device design or new device added to production test. As we increase our installed base of FOX systems with current and new customers, particularly with our FOX-NPTM and FOX-XP multi wafer and singulated die/module test and burn-in systems, we expect our consumables business will continue to grow in absolute value and as a percentage of our total sales. Over the long term, we expect to see a steady rate of more than 50 percent of our total annual revenue to come from these consumables. “We continue to receive specific forecasts from existing customers for additional new capacity and expect additional bookings and shipments/revenue for our systems and consumables. These customers are in key growth segments that we have started to penetrate including silicon photonics and silicon carbide, and they have asked us to anticipate and secure specific capacity to meet their needs and have indicated they expect to place orders for this capacity this fiscal year. At the same time, COVID-19 related impacts have affected our customers and have hindered our ability to forecast the timing of these orders.“Given this fiscal year’s guidance has been almost entirely based on current customer forecasts, we are taking a more conservative approach to our fiscal year forecast and revising our revenue guidance for fiscal 2021 to be between $20 million and $25 million, while continuing to expect to be GAAP profitable for the fiscal year. With a fiscal year second half revenue range of $16 million to $21 million, this new revenue range reflects significantly increased revenue in the second half compared to first half revenue of under $4 million.“As we look to the second half of fiscal 2021, we remain optimistic about the growth opportunities for our systems and consumables within our installed base of customers, as well as our ability to expand the number of customers using our family of FOX-PTM solutions and have additional potential customer engagements that could provide upside to our revenue for the fiscal year. We maintain our confidence in the long-term demand for our products, the attractiveness of the key markets that we serve, and our belief that we will come out of this worldwide pandemic stronger than we went in with more production customers, more applications, and higher value products.”Fiscal 2021 Financial Guidance: For the fiscal year ending May 31, 2021, Aehr is revising its expected full year total revenue to between $20 million and $25 million, down from between $25 million and $28 million, and continues to expect to be profitable for the fiscal year.Management Conference Call and Webcast Aehr Test Systems will host a conference call and webcast today at 5:00 p.m. Eastern (2:00 p.m. PT) to discuss its second quarter fiscal 2021 operating results. To access the call dial 800-437-2398 (+1 929-477-0577 outside the United States) and give the participant pass code 4081095. In addition, a live and archived webcast of the conference call will be available over the Internet at www.aehr.com in the Investor Relations section. A replay of the conference call will also be available via telephone beginning approximately two hours after conclusion of the call through 8:00 p.m. ET on January 14, 2021. To access the replay dial-in information, please click here.About Aehr Test Systems Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic, optical and memory integrated circuits and has installed over 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr Test products in package, wafer level, and singulated die/module level test. Aehr Test has developed and introduced several innovative products, including the ABTSTM and FOX-PTM families of test and burn-in systems and FOX WaferPakTM Aligner, FOX-XP WaferPak Contactor, FOX DiePak® Carrier and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for both lower power and higher power logic devices as well as all common types of memory devices. The FOX-XP and FOX-NP systems are full wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a new low-cost single-wafer compact test and reliability verification solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The WaferPak contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of both bare die and modules. For more information, please visit Aehr Test Systems’ website at www.aehr.com.Safe Harbor Statement This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or Aehr’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern Aehr’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, Aehr’s ability to generate bookings and revenue increases in the future, including the second half of fiscal 2021; future requirements and orders of Aehr’s new and existing customers; bookings forecasted for proprietary WaferPakTM and DiePak consumables across multiple market segments; the temporary nature of customer pushouts; shipping timelines for products and follow-on capacity orders; the growth of Aehr’s systems and consumables, including as a percentage of total sales; financial guidance for fiscal 2021, including related to revenue and profitability; Aehr’s ability to expand its number of customers using its FOX-PTM solutions; the ability to secure potential customer engagements; expectations related to long-term demand for Aehr’s productions and the attractiveness of key markets; the belief that Aehr will be stronger after the current worldwide COVID-19 pandemic, including expectations related to greater production, more customers, more applications, and higher value products. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Aehr’s Form 10-K for fiscal 2020, Form 10-Q for the first fiscal quarter of fiscal 2021 and other reports filed from time to time with the Securities and Exchange Commission. Aehr disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.– Financial Tables to Follow –             AEHR TEST SYSTEMS AND SUBSIDIARIES Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited)                 Three Months Ended  Six Months Ended   Nov 30, Aug 31, Nov 30, Nov 30, Nov 30,    2020   2020   2019   2020   2019              Net sales$1,683  $2,012  $6,874  $3,695  $12,407  Cost of sales 1,306   1,785   3,672   3,091   6,934  Gross profit 377   227   3,202   604   5,473              Operating expenses:            Selling, general and administrative 1,501   1,514   2,157   3,015   3,965    Research and development 820   900   795   1,720   1,687        Total operating expenses 2,321   2,414   2,952   4,735   5,652                    (Loss) income from operations (1,944)  (2,187)  250   (4,131)  (179)             Interest (expense) income, net (12)  (13)  2   (25)  14  Net gain from dissolution of Aehr Test Systems Japan -   2,186   -   2,186   -  Other (expense) income, net (6)  (94)  5   (100)  15                     (Loss) income before income tax (expense) benefit  (1,962)  (108)  257   (2,070)  (150)             Income tax (expense) benefit (4)  215   (6)  211   (12)                    Net (loss) income (1,966)  107   251   (1,859)  (162) Net (loss) income attributable to Aehr Test Systems common shareholders      $(1,966) $107  $251  $(1,859) $(162)             Net (loss) income per share                  Basic$(0.08) $0.00  $0.01  $(0.08) $(0.01)         Diluted$(0.08) $0.00  $0.01  $(0.08) $(0.01)             Shares used in per share calculations:                  Basic 23,396   23,248   22,823   23,322   22,765          Diluted 23,396   23,455   22,912   23,322   22,765                                                      AEHR TEST SYSTEMS AND SUBSIDIARIES   Reconciliation of GAAP and Non-GAAP Results   (in thousands, except per share data)   (unaudited)                                    Three Months Ended Six Months Ended      Nov 30, Aug 31, Nov 30, Nov 30, Nov 30,       2020   2020   2019  2020   2019                                  GAAP net (loss) income $(1,966) $107  $251 $(1,859) $(162)   Stock-based compensation expense  257   270   205  527   404    Income from dissolution of Aehr Test Systems Japan   -   (2,401)  -  (2,401)  -    Non-GAAP net (loss) income $(1,709) $(2,024) $456 $(3,733) $242                   GAAP net (loss) income per diluted share $(0.08) $0.00  $0.01 $(0.08) $(0.01)   Non-GAAP net (loss) income per diluted share $(0.07) $(0.09) $0.02 $(0.16) $0.01    Shares used in GAAP diluted shares calculation  23,396   23,455   22,912  23,322   22,765    Shares used in non-GAAP diluted shares calculation   23,396   23,248   22,912  23,322   22,846                        Non-GAAP net (loss) income is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net (loss) income 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 (loss) income. This limitation is best addressed by using this measure in combination with net (loss) income (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.                                AEHR TEST SYSTEMS AND SUBSIDIARIES  Condensed Consolidated Balance Sheets  (in thousands, except per share data)  (unaudited)                 November 30,August 31, May 31,       2020  2020  2020               ASSETS                    Current assets:          Cash and cash equivalents$3,449 $6,313 $5,433      Accounts receivable, net 1,429  1,116  3,717      Inventories  9,057  8,102  7,989      Prepaid expenses and other 433  439  512          Total current assets 14,368  15,970  17,651               Property and equipment, net 683  622  663    Operating lease right-of-use assets 1,918  1,952  2,107    Other assets  142  147  153          Total assets$17,111 $18,691 $20,574               LIABILITIES AND SHAREHOLDERS' EQUITY                  Current liabilities:          Accounts payable$1,155 $809 $945      Accrued expenses 1,344  1,373  1,439      Operating lease liabilities, short-term 705  671  658      Customer deposits and deferred revenue, short-term   66  387  170      Current portion of long-term debt 1,213  933  653          Total current liabilities 4,483  4,173  3,865               Operating lease liabilities, long-term 1,361  1,432  1,605    Long-term debt, net of current portion 466  746  1,026    Deferred revenue, long-term 9  19  22          Total liabilities 6,319  6,370  6,518               Aehr Test Systems shareholders' equity 10,792  12,321  14,077    Noncontrolling interest -  -  (21)         Total shareholders' equity 10,792  12,321  14,056                     Total liabilities and shareholders' equity$17,111 $18,691 $20,574              Contacts: Aehr Test Systems   Ken Spink                   Chief Financial Officer (510) 623-9400 x309  MKR Investor Relations Inc. Todd Kehrli or Jim Byers Analyst/Investor Contact (323) 468-2300 aehr@mkr-group.com