Calculation of Earnings Per Share (Tables)

6 Months Ended

Nov. 28, 2020

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

	Three Months Ended
	November 28, 2020						November 30, 2019
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Net income (loss)	$	689		$	689		$	(622	)	$	(622	)
Less dividends:
Common stock		666			666			662			662
Class B common stock		114			114			113			113
Undistributed losses	$	(91	)	$	(91	)	$	(1,397	)	$	(1,397	)
Common stock undistributed losses	$	(78	)	$	(78	)	$	(1,193	)	$	(1,193	)
Class B common stock undistributed losses		(13	)		(13	)		(204	)		(204	)
Total undistributed losses	$	(91	)	$	(91	)	$	(1,397	)	$	(1,397	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		11,111			11,111			11,038			11,038
Class B common stock weighted average shares and    shares under if-converted method for diluted EPS		2,097			2,097			2,097			2,097
Effect of dilutive securities
Dilutive stock options					17						—
Denominator for diluted EPS adjusted for weighted    average shares and assumed conversions					13,225						13,135
Net income (loss) per share:
Common stock	$	0.05		$	0.05		$	(0.05	)	$	(0.05	)
Class B common stock	$	0.05		$	0.05		$	(0.04	)	$	(0.04	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the second quarter of fiscal 2020 were 860.

	Six Months Ended
	November 28, 2020						November 30, 2019
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Net loss	$	(458	)	$	(458	)	$	(465	)	$	(465	)
Less dividends:
Common stock		1,333			1,333			1,324			1,324
Class B common stock		227			227			226			226
Undistributed losses	$	(2,018	)	$	(2,018	)	$	(2,015	)	$	(2,015	)
Common stock undistributed losses	$	(1,725	)	$	(1,725	)	$	(1,720	)	$	(1,720	)
Class B common stock undistributed losses		(293	)		(293	)		(295	)		(295	)
Total undistributed losses	$	(2,018	)	$	(2,018	)	$	(2,015	)	$	(2,015	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		11,090			11,090			11,014			11,014
Class B common stock weighted average shares and    shares under if-converted method for diluted EPS		2,097			2,097			2,097			2,097
Effect of dilutive securities
Dilutive stock options					—						—
Denominator for diluted EPS adjusted for weighted    average shares and assumed conversions					13,187						13,111
Net loss per share:
Common stock	$	(0.04	)	$	(0.04	)	$	(0.04	)	$	(0.04	)
Class B common stock	$	(0.03	)	$	(0.03	)	$	(0.03	)	$	(0.03	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first six months of fiscal 2021 and fiscal 2020 were 1,600 and 916, respectively.