17. SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

12 Months Ended

May 31, 2013

Selected Quarterly Consolidated Financial Data

17. SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

17. SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

The following tables (presented in thousands, except per share data) sets forth selected unaudited condensed consolidated statements of operations data for each of the four quarters of the fiscal years ended May 31, 2013 and 2012. The unaudited quarterly information has been prepared on the same basis as the annual information presented elsewhere herein and, in the Company’s opinion, includes all adjustments (consisting only of normal recurring entries) necessary for a fair statement of the information for the quarters presented. The operating results for any quarter are not necessarily indicative of results for any future period and should be read in conjunction with the audited consolidated financial statements of the Company’s and the notes thereto included elsewhere herein.

	Three Months Ended
	Aug. 31,	Nov. 30,	Feb. 28,	May 31,
	2012	2012	2013	2013
Net sales..............................	$4,832	$ 5,054	$ 3,340	$ 3,262
Gross profit...........................	$2,456	$ 2,263	$   765	$ 1,292
Net loss...............................	$ (296)	$  (811)	$(1,458)	$  (854)
Net loss per share basic and diluted...	$(0.03)	$ (0.09)	$ (0.16)	$ (0.08)

	Three Months Ended
	Aug. 31,	Nov. 30,	Feb. 29,		May 31,
	2011	2011	2012		2012
Net sales....................................	$4,130	$ 3,860	$ 2,855	$4,676
Gross profit.................................	$1,802	$ 1,128	$ 1,108		$2,169
Net income (loss)............................	$  124	$(1,373)	$(1,361)		$ (779)
Net income (loss) per share basic and diluted.	$ 0.01	$ (0.15)	$ (0.15)		$(0.09)

During the three months ended August 31, 2011 the Company sold all of its shares of ESA for approximately $1.4 million resulting in a gain of approximately $1.0 million.