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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands
12 Months Ended
May 28, 2017
May 29, 2016
May 31, 2015
Revenues $ 532,257,000 $ 541,099,000 $ 539,257,000
Cost of product sales 449,071,000 470,142,000 473,850,000
Gross profit 83,186,000 70,957,000 65,407,000
Operating costs and expenses:      
Research and development 9,473,000 7,228,000 6,988,000
Selling, general and administrative 55,628,000 49,515,000 39,958,000
Legal settlement charge 2,580,000
Impairment of GreenLine trade name 0 34,000,000 [1] [1]
Total operating costs and expenses 67,681,000 90,743,000 46,946,000
Operating income (loss) 15,505,000 (19,786,000) 18,461,000
Dividend income 1,650,000 1,650,000 1,417,000
Interest income 16,000 71,000 315,000
Interest expense, net (1,826,000) (1,987,000) (1,829,000)
Loss on debt refinancing (1,233,000) [1] [1]
Other income 900,000 1,200,000 3,107,000
Net income (loss) before taxes 15,012,000 (18,852,000) 21,471,000
Income tax (expense) benefit (4,335,000) 7,404,000 (7,746,000)
Consolidated net income (loss) 10,677,000 (11,448,000) [1] 13,725,000 [1]
Non-controlling interest expense (87,000) (193,000) (181,000)
Net income (loss) applicable to common stockholders $ 10,590,000 $ (11,641,000) $ 13,544,000
Basic net income (loss) per share (in dollars per share) $ 0.39 $ (0.43) $ 0.50
Diluted net income (loss) per share (in dollars per share) $ 0.38 $ (0.43) $ 0.50
Shares used in per share computation      
Basic (in shares) 27,276 27,044 26,884
Diluted (in shares) 27,652 27,044 27,336
Other comprehensive income, net of tax:      
Change in net unrealized gains on interest rate swap (net of tax effect of $254, $0, and $0) $ 432,000
Other comprehensive income, net 432,000
Total comprehensive income (loss) $ 11,022,000 $ (11,641,000) $ 13,544,000
[1] See Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies for a discussion of accounting principles adopted during the period.