Calculation of Earnings Per Share (Tables)

3 Months Ended

Sep. 02, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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

	Three Months Ended
	September 2, 2023				August 27, 2022
	Basic		Diluted		Basic		Diluted
Numerator for Basic and Diluted EPS:
Net income	$	1,227	$	1,227	$	6,324	$	6,324
Less dividends:
Common stock		732		732		709		709
Class B common stock		111		111		110		110
Undistributed earnings	$	384	$	384	$	5,505	$	5,505
Common stock undistributed earnings	$	333	$	335	$	4,755	$	4,788
Class B common stock undistributed earnings		51		49		750		717
Total undistributed earnings	$	384	$	384	$	5,505	$	5,505
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		12,171		12,171		11,715		11,715
Effect of dilutive securities
Dilutive stock options				368				616
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion				12,539				12,331
Class B common stock weighted average shares and shares under if-converted method for diluted EPS		2,052		2,052		2,053		2,053
Net income per share:
Common stock	$	0.09	$	0.09	$	0.47	$	0.45
Class B common stock	$	0.08	$	0.08	$	0.42	$	0.40

Note: There were no common stock options that were antidilutive in the first quarter of fiscal 2024 and fiscal 2023.