Calculation of Earnings Per Share (Tables)

9 Months Ended

Mar. 02, 2019

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 (loss) income were based on the following amounts (in thousands, except per share amounts):

	Three Months Ended
	March 2, 2019						March 3, 2018
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Net (loss) income	$	(1,078	)	$	(1,078	)	$	527		$	527
Less dividends:
Common stock		657			657			648			648
Class B common stock		114			114			115			115
Undistributed losses	$	(1,849	)	$	(1,849	)	$	(236	)	$	(236	)
Common stock undistributed losses	$	(1,577	)	$	(1,577	)	$	(200	)	$	(200	)
Class B common stock undistributed losses		(272	)		(272	)		(36	)		(36	)
Total undistributed losses	$	(1,849	)	$	(1,849	)	$	(236	)	$	(236	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		10,953			10,953			10,792			10,792
Class B common stock weighted average shares, and    shares under if-converted method for diluted EPS		2,097			2,097			2,137			2,137
Effect of dilutive securities
Dilutive stock options					—						80
Denominator for diluted EPS adjusted for weighted    average shares and assumed conversions					13,050						13,009
Net (loss) income per share:
Common stock	$	(0.08	)	$	(0.08	)	$	0.04		$	0.04
Class B common stock	$	(0.08	)	$	(0.08	)	$	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 2019 were 1,084.

	Nine Months Ended
	March 2, 2019						March 3, 2018
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
(Loss) income from continuing operations	$	(951	)	$	(951	)	$	587		$	587
Less dividends:
Common stock		1,963			1,963			1,938			1,938
Class B common stock		342			342			346			346
Undistributed losses	$	(3,256	)	$	(3,256	)	$	(1,697	)	$	(1,697	)
Common stock undistributed losses	$	(2,774	)	$	(2,774	)	$	(1,440	)	$	(1,440	)
Class B common stock undistributed losses		(482	)		(482	)		(257	)		(257	)
Total undistributed losses	$	(3,256	)	$	(3,256	)	$	(1,697	)	$	(1,697	)
Income from discontinued operations	$	—		$	—		$	1,496		$	1,496
Less dividends:
Common stock		—			—			1,938			1,938
Class B common stock		—			—			346			346
Undistributed losses	$	—		$	—		$	(788	)	$	(788	)
Common stock undistributed losses	$	—		$	—		$	(668	)	$	(668	)
Class B common stock undistributed losses		—			—			(120	)		(120	)
Total undistributed losses	$	—		$	—		$	(788	)	$	(788	)
Net (loss) income	$	(951	)	$	(951	)	$	2,083		$	2,083
Less dividends:
Common stock		1,963			1,963			1,938			1,938
Class B common stock		342			342			346			346
Undistributed losses	$	(3,256	)	$	(3,256	)	$	(201	)	$	(201	)
Common stock undistributed losses	$	(2,774	)	$	(2,774	)	$	(171	)	$	(171	)
Class B common stock undistributed losses		(482	)		(482	)		(30	)		(30	)
Total undistributed losses	$	(3,256	)	$	(3,256	)	$	(201	)	$	(201	)
Denominator for basic and diluted EPS:
Common stock weighted average shares		10,911			10,911			10,753			10,753
Class B common stock weighted average shares, and    shares under if-converted method for diluted EPS		2,108			2,108			2,137			2,137
Effect of dilutive securities
Dilutive stock options					—						40
Denominator for diluted EPS adjusted for weighted    average shares and assumed conversions					13,019						12,930
(Loss) income from continuing operations per share:
Common stock	$	(0.07	)	$	(0.07	)	$	0.05		$	0.05
Class B common stock	$	(0.07	)	$	(0.07	)	$	0.04		$	0.04
Income from discontinued operations per share:
Common stock	$	—		$	—		$	0.12		$	0.12
Class B common stock	$	—		$	—		$	0.11		$	0.11
Net (loss) income per share:
Common stock	$	(0.07	)	$	(0.07	)	$	0.17		$	0.17
Class B common stock	$	(0.07	)	$	(0.07	)	$	0.15		$	0.15

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first nine months of fiscal 2019 were 918.