Aehr Test Systems Reports Operating Results (10-Q)

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Jan 13, 2011
Aehr Test Systems (AEHR, Financial) filed Quarterly Report for the period ended 2010-11-30.

Aehr Test Sys has a market cap of $11.9 million; its shares were traded at around $1.32 with and P/S ratio of 1. AEHR is in the portfolios of Jim Simons of Renaissance Technologies LLC.

Highlight of Business Operations:

Cost of sales . . . . . . . . . . . . . . . $ 28 $118 $ 60 $ 169

Selling, general and administrative . . . . 122 437 265 588

Research and development . . . . . . . . . . 88 225 187 328

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Total stock-based compensation . . . . . . . $238 $780 $512 $1,085

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Three months ended Six Months Ended

November 30, November 30,

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2010 2009 2010 2009

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Option Plan Shares

Expected Term (in years).................... 5 5 5 5

Volatility.................................. 0.79 0.79 0.80 0.78

Expected Dividend........................... $0.00 $0.00 $0.00 $0.00

Risk-free Interest Rates.................... 1.34% 2.41% 1.72% 2.53%

Estimated Forfeiture Rate................... 0.25% 0.25% 0.25% 0.25%

Weighted Average Grant Date Fair Value...... $0.84 $0.92 $1.20 $0.56



$0.85-$0.85 490 3.58 $0.85 353 $0.85 3.58

$1.29-$2.81 897 3.67 $2.12 345 $2.37 2.66

$2.84-$5.96 438 1.23 $4.64 409 $4.54 1.20

$6.00-$9.30 241 2.15 $7.69 226 $7.74 2.17

$9.94-$9.94 124 2.56 $9.94 76 $9.94 2.56

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$0.85-$9.94 2,190 2.93 $3.40 1,409 $3.89 2.38 $28

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Basic net loss per share................... $(0.09) $ (0.25) $ (0.26) $ (0.14)

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Diluted net loss per share................. $(0.09) $ (0.25) $ (0.26) $ (0.14)

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Balance as of

November 30, 2010 Level 1 Level 2

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Money market funds.............. $3,046 $3,046 $ -

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Assets.......................... $3,046 $3,046 $ -

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Liabilities..................... $ - $ - $ -

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Three Months Ended Six Months Ended

November 30, November 30,

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2010 2009 2010 2009

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Net loss................................ $(767) $(2,158) $(2,283) $(1,197)

Foreign currency translation adjustments (5) 55 (10) 73

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Comprehensive loss ..................... $(772) $(2,103) $(2,293) $(1,124)

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