XML 71 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
UPDATES TO CRITICAL ACCOUNTING POLICIES AND ESTIMATES UPDATES TO CRITICAL ACCOUNTING POLICIES AND ESTIMATES (Tables)
12 Months Ended
May 31, 2014
Accounting Policies and Estimates [Abstract]  
Property, Plant and Equipment [Table Text Block]
Property, plant and equipment consist of the following (in thousands):
 
 
May 31,   2014
 
June 1,   2013
Land and improvements
$
1,598

 
$
1,503

Buildings and improvements
18,456

 
18,384

Computer and communications equipment(1)
3,792

 
1,676

Construction in progress(1)
1,377

 
1,305

Machinery and other equipment
5,795

 
4,963

 
$
31,018

 
$
27,831

Accumulated depreciation
(23,795
)
 
(22,758
)
Property, plant, and equipment, net
$
7,223

 
$
5,073

(1)
Relates primarily to IT Infrastructure for our ERP Implementation.
Property Plant And Equipment Estimated Useful Lives Table [Text Block]
Supplemental disclosure information of the estimated useful life of the asset:
Land improvements
10 years
Buildings and improvements
10 - 30 years
Computer and communications equipment
3 - 10 years
Machinery and other equipment
3 - 10 years
Schedule of Accrued Liabilities [Table Text Block]
Accrued liabilities consist of the following (in thousands):
 
May 31, 2014
 
June 1, 2013
Compensation and payroll taxes
$
4,692

 
$
4,138

Income taxes
68

 
1,191

Professional fees
560

 
811

Other accrued expenses
3,900

 
3,426

Accrued Liabilities
$
9,220

 
$
9,566

Schedule of Product Warranty Liability [Table Text Block]
Changes in the warranty reserve during fiscal 2014 and 2013 were as follows (in thousands):
 
Warranty Reserve
Balance at June 2, 2012
$
148

Accruals for products sold
259

Utilization
(219
)
Balance at June 1, 2013
$
188

Accruals for products sold
202

Utilization
(215
)
Balance at May 31, 2014
$
175

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of stock option activity is as follows (in thousands, except option prices and years):
 
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
Options Outstanding at May 28, 2011
883

 
$
8.51

 
 
 
 
Granted
140

 
12.87

 
 
 
 
Exercised
(121
)
 
6.68

 
 
 
 
Forfeited
(62
)
 
8.91

 
 
 
 
Cancelled
(74
)
 
7.92

 
 
 
 
Options Outstanding at June 2, 2012
766

 
$
9.52

 
 
 
 
Granted
225

 
11.70

 
 
 
 
Exercised
(31
)
 
6.37

 
 
 
 
Forfeited
(14
)
 
10.40

 
 
 
 
Cancelled
(2
)
 
12.43

 
 
 
 
Options Outstanding at June 1, 2013
944

 
$
10.13

 
 
 
 
Granted
224

 
11.15

 
 
 
 
Exercised
(32
)
 
5.84

 
 
 
 
Forfeited
(54
)
 
11.73

 
 
 
 
Cancelled
(17
)
 
11.52

 
 
 
 
Options Outstanding at May 31, 2014
1,065

 
$
10.37

 
6.4
 
$
1,189

Options Vested at May 31, 2014
576

 
$
9.50

 
4.8
 
$
1,040

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The per share amounts presented in the consolidated statements of comprehensive income (loss) are based on the following (amounts in thousands, except per share amounts):
 
 
For the Fiscal Year Ended
 
May 31, 2014
 
June 1, 2013
 
June 2, 2012
 
Basic
 
Diluted
 
Basic
 
Diluted
 
Basic
 
Diluted
Numerator for Basic and Diluted EPS:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
(345
)
 
$
(345
)
 
$
482

 
$
482

 
$
7,990

 
$
7,990

Less dividends:
 
 
 
 
 
 
 
 
 
 
 
Common stock
2,853

 
2,853

 
2,971

 
2,971

 
2,787

 
2,787

Class B common stock
488

 
488

 
600

 
600

 
528

 
528

Undistributed earnings (losses)
$
(3,686
)
 
$
(3,686
)
 
$
(3,089
)
 
$
(3,089
)
 
$
4,675

 
$
4,675

Common stock undistributed earnings (losses)
$
(3,151
)
 
$
(3,151
)
 
$
(2,570
)
 
$
(2,575
)
 
$
3,933

 
$
3,939

Class B common stock undistributed earnings (losses)
(535
)
 
(535
)
 
(519
)
 
(514
)
 
742

 
736

Total undistributed earnings (losses)
$
(3,686
)
 
$
(3,686
)
 
$
(3,089
)
 
$
(3,089
)
 
$
4,675

 
$
4,675

Income (loss) from discontinued operations
$
(170
)
 
$
(170
)
 
$
766

 
$
766

 
$
536

 
$
536

Less dividends:
 
 
 
 
 
 
 
 
 
 
 
Common stock
2,853

 
2,853

 
2,971

 
2,971

 
2,787

 
2,787

Class B common stock
488

 
488

 
600

 
600

 
528

 
528

Undistributed earnings (losses)
$
(3,511
)
 
$
(3,511
)
 
$
(2,805
)
 
$
(2,805
)
 
$
(2,779
)
 
$
(2,779
)
Common stock undistributed earnings (losses)
$
(3,001
)
 
$
(3,001
)
 
$
(2,334
)
 
$
(2,338
)
 
$
(2,338
)
 
$
(2,342
)
Class B common stock undistributed earnings (losses)
(510
)
 
(510
)
 
(471
)
 
(467
)
 
(441
)
 
(437
)
Total undistributed earnings (losses)
$
(3,511
)
 
$
(3,511
)
 
$
(2,805
)
 
$
(2,805
)
 
$
(2,779
)
 
$
(2,779
)
Net income (loss)
$
(515
)
 
$
(515
)
 
$
1,248

 
$
1,248

 
$
8,526

 
$
8,526

Less dividends:
 
 
 
 
 
 
 
 
 
 
 
Common stock
2,853

 
2,853

 
2,971

 
2,971

 
2,787

 
2,787

Class B common stock
488

 
488

 
600

 
600

 
528

 
528

Undistributed earnings (losses)
$
(3,856
)
 
$
(3,856
)
 
$
(2,323
)
 
$
(2,323
)
 
$
5,211

 
$
5,211

Common stock undistributed earnings (losses)
$
(3,296
)
 
$
(3,296
)
 
$
(1,933
)
 
$
(1,937
)
 
$
4,384

 
$
4,391

Class B common stock undistributed earnings (losses)
(560
)
 
(560
)
 
(390
)
 
(386
)
 
827

 
820

Total undistributed earnings (losses)
$
(3,856
)
 
$
(3,856
)
 
$
(2,323
)
 
$
(2,323
)
 
$
5,211

 
$
5,211

Denominator for basic and diluted EPS:
 
 
 
 
 
 
 
 
 
 
 
Common stock weighted average shares
11,915

 
11,915

 
12,448

 
12,448

 
14,025

 
14,025

Class B common stock weighted average shares, and shares under if-converted method for diluted EPS
2,250

 
2,250

 
2,790

 
2,790

 
2,941

 
2,941

Effect of dilutive securities
 
 
 
 
 
 
 
 
 
 
 
Dilutive stock options
 
 

 
 
 
134

 
 
 
152

Denominator for diluted EPS adjusted for weighted average shares and assumed conversions
 
 
14,165

 
 
 
15,372

 
 
 
17,118

Income (loss) from continuing operations per share:
 
 
 
 
 
 
 
 
 
 
 
Common stock
$
(0.03
)
 
$
(0.03
)
 
$
0.03

 
$
0.03

 
$
0.48

 
$
0.47

Class B common stock
$
(0.02
)
 
$
(0.02
)
 
$
0.03

 
$
0.03

 
$
0.43

 
$
0.43

Income (loss) from discontinued operations per share:
 
 
 
 
 
 
 
 
 
 
 
Common stock
$
(0.01
)
 
$
(0.01
)
 
$
0.05

 
$
0.05

 
$
0.03

 
$
0.03

Class B common stock
$
(0.01
)
 
$
(0.01
)
 
$
0.05

 
$
0.05

 
$
0.03

 
$
0.03

Net income (loss) per share:
 
 
 
 
 
 
 
 
 
 
 
Common stock
$
(0.04
)
 
$
(0.04
)
 
$
0.08

 
$
0.08

 
$
0.51

 
$
0.50

Class B common stock
$
(0.03
)
 
$
(0.03
)
 
$
0.08

 
$
0.08

 
$
0.46

 
$
0.46

 
Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for fiscal 2014, fiscal 2013, and fiscal 2012 were 489,064; 280,764; and 272,864, respectively.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of stock options is estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
 
Fiscal Year Ended
 
May 31,   2014
 
June 1,   2013
 
June 2,   2012
Expected volatility
49.31
%
 
50.79
%
 
53.91
%
Risk-free interest rate
2.03
%
 
1.12
%
 
1.52
%
Expected lives (years)
6.47

 
6.37

 
6.29

Annual cash dividend
$
0.24

 
$
0.24

 
$
0.20

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table summarizes information about stock options outstanding at May 31, 2014 (in thousands, except option prices and years):
 
 
Outstanding
 
Vested
Exercise Price Range
Shares
 
Price
 
Life
 
Aggregate Intrinsic
Value
 
Shares
 
Price
 
Life
 
Aggregate Intrinsic
Value
$4.18 to $7.24
224

 
$
5.74

 
4.8
 
$
994

 
191

 
$
5.75

 
4.7
 
$
845

$7.32 to $11.00
135

 
$
8.96

 
2.3
 
$
195

 
135

 
$
8.96

 
2.3
 
$
195

$11.12 to $13.76
706

 
$
12.10

 
7.7
 
$

 
250

 
$
12.66

 
6.2
 
$

Total
1,065

 
$
10.37

 
6.4
 
$
1,189

 
576

 
$
9.50

 
4.8
 
$
1,040