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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Feb. 28, 2023
Feb. 28, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)        
Net sales $ 17,206 $ 15,283 $ 42,692 $ 30,540
Cost of sales 8,331 8,886 21,425 17,343
Gross profit 8,875 6,397 21,267 13,197
Operating expenses:        
Selling, general and administrative 3,250 2,612 8,650 7,054
Research and development 1,832 1,529 4,881 4,163
Total operating expenses 5,082 4,141 13,531 11,217
Income from operations 3,793 2,256 7,736 1,980
Interest income (expense), net 374 1 758 (9)
Gain from forgiveness of PPP loan 0 0 0 1,698
Other (expense) income, net (18) 10 1 68
Income before income tax expense 4,149 2,267 8,495 3,737
Income tax expense (17) (24) (49) (81)
Net income $ 4,132 $ 2,243 $ 8,446 $ 3,656
Earnings per share        
Basic $ 0.15 $ 0.08 $ 0.31 $ 0.14
Diluted $ 0.14 $ 0.08 $ 0.29 $ 0.13
Shares used in per share calculations:        
Basic 27,893 26,871 27,571 25,684
Diluted 29,373 28,854 29,080 27,510