CALCULATION OF EARNINGS PER SHARE (Tables)

9 Months Ended

Mar. 02, 2013

Earnings per share

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):

	Three Months Ended
	March 2, 2013						March 3, 2012
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Income from continuing operations	$	586		$	586		$	1,591		$	1,591
Less dividends:
Common stock		738			738			698			698
Class B common stock		148			148			132			132
Undistributed earnings (losses)	$	(300	)	$	(300	)	$	761		$	761
Common stock undistributed earnings (losses)	$	(250	)	$	(250	)	$	640		$	640
Class B common stock undistributed earnings (losses)		(50	)		(50	)		121			121
Total undistributed earnings (losses)	$	(300	)	$	(300	)	$	761		$	761
Loss from discontinued operations	$	(182	)	$	(182	)	$	(252	)	$	(252	)
Less dividends:
Common stock		738			738			698			698
Class B common stock		148			148			132			132
Undistributed losses	$	(1,068	)	$	(1,068	)	$	(1,082	)	$	(1,082	)
Common stock undistributed losses	$	(890	)	$	(891	)	$	(909	)	$	(911	)
Class B common stock undistributed losses		(178	)		(177	)		(173	)		(171	)
Total undistributed losses	$	(1,068	)	$	(1,068	)	$	(1,082	)	$	(1,082	)
Net income	$	404		$	404		$	1,339		$	1,339
Less dividends:
Common stock		738			738			698			698
Class B common stock		148			148			132			132
Undistributed earnings (losses)	$	(482	)	$	(482	)	$	509		$	509
Common stock undistributed earnings (losses)	$	(401	)	$	(402	)	$	428		$	428
Class B common stock undistributed earnings (losses)		(81	)		(80	)		81			81
Total undistributed earnings (losses)	$	(482	)	$	(482	)	$	509		$	509
Denominator for basic and diluted EPS:
Common stock weighted average shares		12,292			12,292			13,988			13,988
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS		2,740			2,740			2,940			2,940
Effect of dilutive securities
Dilutive stock options					133						122
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions					15,165						17,050
Income from continuing operations per share:
Common stock	$	0.04		$	0.04		$	0.10		$	0.09
Class B common stock	$	0.04		$	0.04		$	0.09		$	0.09
Loss from discontinued operations per share:
Common stock	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.01	)
Class B common stock	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.01	)
Net income per share:
Common stock	$	0.03		$	0.03		$	0.08		$	0.08
Class B common stock	$	0.03		$	0.03		$	0.08		$	0.08

	Nine Months Ended
	March 2, 2013						March 3, 2012
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Income from continuing operations	$	1,901		$	1,901		$	4,249		$	4,249
Less dividends:
Common stock		2,233			2,233			2,111			2,111
Class B common stock		452			452			397			397
Undistributed earnings (losses)	$	(784	)	$	(784	)	$	1,741		$	1,741
Common stock undistributed earnings (losses)	$	(652	)	$	(653	)	$	1,466		$	1,468
Class B common stock undistributed earnings (losses)		(132	)		(131	)		275			273
Total undistributed earnings (losses)	$	(784	)	$	(784	)	$	1,741		$	1,741
Income (loss) from discontinued operations	$	(472	)	$	(472	)	$	1,551		$	1,551
Less dividends:
Common stock		2,233			2,233			2,111			2,111
Class B common stock		452			452			397			397
Undistributed losses	$	(3,157	)	$	(3,157	)	$	(957	)	$	(957	)
Common stock undistributed losses	$	(2,624	)	$	(2,629	)	$	(806	)	$	(807	)
Class B common stock undistributed losses		(533	)		(528	)		(151	)		(150	)
Total undistributed losses	$	(3,157	)	$	(3,157	)	$	(957	)	$	(957	)
Net income	$	1,429		$	1,429		$	5,800		$	5,800
Less dividends:
Common stock		2,233			2,233			2,111			2,111
Class B common stock		452			452			397			397
Undistributed earnings (losses)	$	(1,256	)	$	(1,256	)	$	3,292		$	3,292
Common stock undistributed earnings (losses)	$	(1,044	)	$	(1,046	)	$	2,771		$	2,776
Class B common stock undistributed earnings (losses)		(212	)		(210	)		521			516
Total undistributed earnings (losses)	$	(1,256	)	$	(1,256	)	$	3,292		$	3,292
Denominator for basic and diluted EPS:
Common stock weighted average shares		12,500			12,500			14,134			14,134
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS		2,822			2,822			2,944			2,944
Effect of dilutive securities
Dilutive stock options					133						166
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions					15,455						17,244
Income from continuing operations per share:
Common stock	$	0.13		$	0.12		$	0.25		$	0.25
Class B common stock	$	0.11		$	0.11		$	0.23		$	0.23
Income (loss) from discontinued operations per share:
Common stock	$	(0.03	)	$	(0.03	)	$	0.09		$	0.09
Class B common stock	$	(0.03	)	$	(0.03	)	$	0.08		$	0.08
Net income per share:
Common stock	$	0.10		$	0.09		$	0.34		$	0.34
Class B common stock	$	0.08		$	0.08		$	0.31		$	0.31