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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Aug. 26, 2018
Aug. 27, 2017
Product sales $ 124,668,000 $ 115,781,000
Cost of product sales 108,331,000 96,979,000
Gross profit 16,337,000 18,802,000
Operating costs and expenses:    
Research and development 2,833,000 2,719,000
Selling, general and administrative 13,951,000 13,358,000
Total operating costs and expenses 16,784,000 16,077,000
Operating (loss) income (447,000) 2,725,000
Dividend income 413,000 413,000
Interest income 46,000 31,000
Interest expense (758,000) [1] (404,000)
Other income 1,000,000 900,000
Net income from continuing operations before taxes 254,000 3,665,000
Income tax expense (64,000) (1,310,000)
Net income from continuing operations 190,000 2,355,000
Loss from discontinued operations (203,000)
Income tax benefit 60,000
Loss from discontinued operations, net of tax (143,000)
Consolidated net income 190,000 2,212,000
Non-controlling interest expense (66,000)
Net income applicable to common stockholders $ 190,000 $ 2,146,000
Basic net income (loss) per share:    
Income from continuing operations (in dollars per share) $ 0.01 $ 0.09
Loss from discontinued operations (in dollars per share) (0.01)
Total basic net income per share (in dollars per share) 0.01 0.08
Income from continuing operations (in dollars per share) 0.01 0.08
Loss from discontinued operations (in dollars per share)
Total diluted net income per share (in dollars per share) $ 0.01 $ 0.08
Basic (in shares) 27,738 27,506
Diluted (in shares) 28,020 27,858
Other comprehensive loss, net of tax:    
Net unrealized losses on interest rate swap contracts (net of tax effect of $27 and $57) $ (89,000) $ (103,000)
Other comprehensive loss, net of tax (89,000) (103,000)
Total comprehensive income $ 101,000 $ 2,043,000
[1] Beginning in first quarter of fiscal 2019, the Company began allocating interest expense to its reportable segments in information provided to its CODM to enhance visibility into how financing activities impact the discrete financial results.