10-Q Filing

AEHR TEST SYSTEMS CIK: 1040470 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-011076`
Period End Date	20180831
Filing Date	20181012
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	aehr-20180831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 36 Cash Flow Statement 48 Comprehensive Income 10

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.86M	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75,000.00	shares	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75,000.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.86M	USD	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	22,143.00	shares	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	22,245.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.27M	USD	Point-in-time
Inventories	`InventoryNet`	$9.05M	USD	Point-in-time
Inventories	`InventoryNet`	$9.59M	USD	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	22,143.00	shares	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	22,245.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$703.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$727.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.14M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$296.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$266.00K	USD	Point-in-time
Total assets	`Assets`	$29.89M	USD	Point-in-time
Total assets	`Assets`	$30.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.76M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.50M	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$2.34M	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$1.63M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$6.11M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$6.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.26M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$63.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$145.00K	USD	Point-in-time
Deferred revenue, long -term	`DeferredRevenueNoncurrent`	$459.00K	USD	Point-in-time
Deferred revenue, long -term	`DeferredRevenueNoncurrent`	$359.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$11.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.77M	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 22,245 shares and 22,143 shares at August 31, 2018 and May 31, 2018, respectively	`CommonStockValue`	$221.00K	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 22,245 shares and 22,143 shares at August 31, 2018 and May 31, 2018, respectively	`CommonStockValue`	$222.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$83.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$83.41M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.29M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.25M	USD	Point-in-time
Total Aehr Test Systems shareholders' equity	`StockholdersEquity`	$19.30M	USD	Point-in-time
Total Aehr Test Systems shareholders' equity	`StockholdersEquity`	$18.14M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-19.00K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-20.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$18.12M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$30.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$29.89M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$4.74M	USD	1 Quarter
Net sales	`Revenues`	$6.97M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.05M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.92M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.79M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.12M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$955.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.75M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$172.00K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-1.44M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$107.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$78.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-60.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
(Loss) income before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.51M	USD	1 Quarter
(Loss) income before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$4.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-5.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$10.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-1.51M	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net (loss) income attributable to Aehr Test Systems common shareholders	`NetIncomeLoss`	$-1.51M	USD	1 Quarter
Net (loss) income attributable to Aehr Test Systems common shareholders	`NetIncomeLoss`	$10.00K	USD	1 Quarter
Net (loss) income per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net (loss) income per share basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Net (loss) income per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net (loss) income per share diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Shares used in per share calculations: basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	21,417.00	shares	1 Quarter
Shares used in per share calculations: basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	22,190.00	shares	1 Quarter
Shares used in per share calculations: diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22,190.00	shares	1 Quarter
Shares used in per share calculations: diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22,991.00	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$10.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-1.51M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$216.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$256.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$31.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$111.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$89.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-563.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.26M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$536.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.04M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$1.09M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-4.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$651.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-398.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-21.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-151.00K	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$-440.00K	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$609.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	-	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$82.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-20.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.88M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-971.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$184.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$84.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-84.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-184.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOfCommonStock`	$234.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOfCommonStock`	$109.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$234.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$109.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$17.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-38.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.81M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-984.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.99M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.80M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.99M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.86M	USD	Point-in-time
Transfer of property and equipment to inventories	`PropertyPlantAndEquipmentTransfersAndChanges`	$372.00K	USD	1 Quarter
Transfer of property and equipment to inventories	`PropertyPlantAndEquipmentTransfersAndChanges`	-	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$10.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-1.51M	USD	1 Quarter
Other comprehensive (loss) income, net of tax: Net change in cumulative translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Other comprehensive (loss) income, net of tax: Net change in cumulative translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$59.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$69.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.53M	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.00K	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive (loss) income, attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$69.00K	USD	1 Quarter
Comprehensive (loss) income, attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$-1.53M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.