CALCULATION OF EARNINGS PER SHARE (Tables)

9 Months Ended

Feb. 28, 2015

Earnings per share

	Nine Months Ended
	February 28, 2015						March 1, 2014
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Income (loss) from continuing operations	$	(3,425	)	$	(3,425	)	$	2,498		$	2,498
Less dividends:
Common stock	2,103			2,103			2,143			2,143
Class B common stock	350			350			370			370
Undistributed losses	$	(5,878	)	$	(5,878	)	$	(15	)	$	(15	)
Common stock undistributed losses	$	(5,045	)	$	(5,045	)	$	(13	)	$	(13	)
Class B common stock undistributed losses	(833		)	(833		)	(2		)	(2		)
Total undistributed losses	$	(5,878	)	$	(5,878	)	$	(15	)	$	(15	)
Income (loss) from discontinued operations	$	87		$	87		$	(538	)	$	(538	)
Less dividends:
Common stock	2,103			2,103			2,143			2,143
Class B common stock	350			350			370			370
Undistributed losses	$	(2,366	)	$	(2,366	)	$	(3,051	)	$	(3,051	)
Common stock undistributed losses	$	(2,031	)	$	(2,031	)	$	(2,605	)	$	(2,609	)
Class B common stock undistributed losses	(335		)	(335		)	(446		)	(442		)
Total undistributed losses	$	(2,366	)	$	(2,366	)	$	(3,051	)	$	(3,051	)
Net income (loss)	$	(3,338	)	$	(3,338	)	$	1,960		$	1,960
Less dividends:
Common stock	2,103			2,103			2,143			2,143
Class B common stock	350			350			370			370
Undistributed losses	$	(5,791	)	$	(5,791	)	$	(553	)	$	(553	)
Common stock undistributed losses	$	(4,970	)	$	(4,970	)	$	(472	)	$	(473	)
Class B common stock undistributed losses	(821		)	(821		)	(81		)	(80		)
Total undistributed losses	$	(5,791	)	$	(5,791	)	$	(553	)	$	(553	)
Denominator for basic and diluted EPS:
Common stock weighted average shares	11,733			11,733			11,942			11,942
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS	2,154			2,154			2,270			2,270
Effect of dilutive securities Dilutive stock options				—						123
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions				13,887						14,335
Income (loss) from continuing operations per share:
Common stock	$	(0.25	)	$	(0.25	)	$	0.18		$	0.17
Class B common stock	$	(0.22	)	$	(0.22	)	$	0.16		$	0.16
Income (loss) from discontinued operations per share:
Common stock	$	0.01		$	0.01		$	(0.04	)	$	(0.04	)
Class B common stock	$	0.01		$	0.01		$	(0.03	)	$	(0.03	)
Net income (loss) per share:
Common stock	$	(0.24	)	$	(0.24	)	$	0.14		$	0.13
Class B common stock	$	(0.21	)	$	(0.21	)	$	0.13		$	0.13

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first nine months of fiscal 2015 and fiscal 2014 were 726,564 and 512,064, respectively.

The earnings per share (“EPS”) presented in our unaudited consolidated statements of comprehensive income (loss) are based on the following amounts (in thousands, except per share amounts):

	For the Three Months Ended
	February 28, 2015						March 1, 2014
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Loss from continuing operations	$	(2,198	)	$	(2,198	)	$	(112	)	$	(112	)
Less dividends:
Common stock	691			691			710			710
Class B common stock	116			116			118			118
Undistributed losses	$	(3,005	)	$	(3,005	)	$	(940	)	$	(940	)
Common stock undistributed losses	$	(2,577	)	$	(2,577	)	$	(806	)	$	(806	)
Class B common stock undistributed losses	(428		)	(428		)	(134		)	(134		)
Total undistributed losses	$	(3,005	)	$	(3,005	)	$	(940	)	$	(940	)
Loss from discontinued operations	$	—		$	—		$	(420	)	$	(420	)
Less dividends:
Common stock	691			691			710			710
Class B common stock	116			116			118			118
Undistributed losses	$	(807	)	$	(807	)	$	(1,248	)	$	(1,248	)
Common stock undistributed losses	$	(692	)	$	(692	)	$	(1,070	)	$	(1,070	)
Class B common stock undistributed losses	(115		)	(115		)	(178		)	(178		)
Total undistributed losses	$	(807	)	$	(807	)	$	(1,248	)	$	(1,248	)
Net loss	$	(2,198	)	$	(2,198	)	$	(532	)	$	(532	)
Less dividends:
Common stock	691			691			710			710
Class B common stock	116			116			118			118
Undistributed losses	$	(3,005	)	$	(3,005	)	$	(1,360	)	$	(1,360	)
Common stock undistributed losses	$	(2,577	)	$	(2,577	)	$	(1,166	)	$	(1,166	)
Class B common stock undistributed losses	(428		)	(428		)	(194		)	(194		)
Total undistributed losses	$	(3,005	)	$	(3,005	)	$	(1,360	)	$	(1,360	)
Denominator for basic and diluted EPS:
Common stock weighted average shares	11,604			11,604			11,832			11,832
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS	2,141			2,141			2,191			2,191
Effect of dilutive stock options				—						117
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions				13,745						14,140
Loss from continuing operations per share:
Common stock	$	(0.16	)	$	(0.16	)	$	(0.01	)	$	(0.01	)
Class B common stock	$	(0.15	)	$	(0.15	)	$	(0.01	)	$	(0.01	)
Loss from discontinued operations per share:
Common stock	$	—		$	—		$	(0.03	)	$	(0.03	)
Class B common stock	$	—		$	—		$	(0.03	)	$	(0.03	)
Net loss per share:
Common stock	$	(0.16	)	$	(0.16	)	$	(0.04	)	$	(0.04	)
Class B common stock	$	(0.15	)	$	(0.15	)	$	(0.04	)	$	(0.04	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the third quarter of fiscal 2015 and fiscal 2014 were 886,064 and 512,064, respectively.