Company: AEHR
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001654954-25-000285
Chunk: 16

Company: AEHR TEST SYSTEMS
Filing Date: 2025-01-13
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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,015 Customer relationships  810   (25)  785 Non-compete agreements and others  1,010   (174)  836 Total $12,000  $(488) $11,512  Amortization expense related to purchased intangible assets with finite lives was $0.3 million and $0.5 million for the three and six months ended November 29, 2024, respectively. As of November 29, 2024, the estimated future amortization expense of purchased intangible assets with finite lives is as follows: (In thousands) Amount Remainder of 2025 $731 2026  1,229 2027  1,183 2028  980 2029  940 Thereafter  6,449 Total $11,512  There were no impairment charges related to purchased intangible assets for the three and six months ended November 29, 2024.

6. INCOME TAXES The following table provides details of income taxes:   Three Months Ended  Six Months Ended   November 29,  November 30,  November 29,  November 30,  (In thousands) 2024  2023  2024  2023 Income (loss) before income tax expense (benefit) $(1,245) $6,109  $(431) $10,799 Income tax expense (benefit)  (217)  20   (63)  36 Effective tax rate  17.4%  0.3%  14.6%  0.3% The Company’s effective tax rate varies from the U.S. federal statutory rate of 21% primarily due to the research and development credits available to apply against federal and California income and the tax expense from stock-based compensation.  The determination of income taxes for the three and six months ended November 29, 2024 and November 30, 2023, respectively, was based on the Company’s estimated annual effective tax rate. For the three and six months ended November 29, 2024, the Company recognized a tax benefit due to quarter-to-date and year-to-date losses in the U.S.. Tax expense for the three and six months ended November 30, 2023 was