Calculation of Earnings Per Share (Tables)

9 Months Ended

Feb. 27, 2021

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
	February 27, 2021						February 29, 2020
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Net income (loss)	$	228		$	228		$	(93	)	$	(93	)
Less dividends:
Common stock		667			667			662			662
Class B common stock		113			113			114			114
Undistributed losses	$	(552	)	$	(552	)	$	(869	)	$	(869	)
Common stock undistributed losses	$	(472	)	$	(472	)	$	(742	)	$	(742	)
Class B common stock undistributed losses		(80	)		(80	)		(127	)		(127	)
Total undistributed losses	$	(552	)	$	(552	)	$	(869	)	$	(869	)
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					72						—
Denominator for diluted EPS adjusted for weighted    average shares and assumed conversions					13,280						13,135
Net income (loss) per share:
Common stock	$	0.02		$	0.02		$	(0.01	)	$	(0.01	)
Class B common stock	$	0.02		$	0.02		$	(0.01	)	$	(0.01	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the third quarter of fiscal 2020 were 1,000.

	Nine Months Ended
	February 27, 2021						February 29, 2020
	Basic			Diluted			Basic			Diluted
Numerator for Basic and Diluted EPS:
Net loss	$	(230	)	$	(230	)	$	(558	)	$	(558	)
Less dividends:
Common stock		2,000			2,000			1,986			1,986
Class B common stock		340			340			340			340
Undistributed losses	$	(2,570	)	$	(2,570	)	$	(2,884	)	$	(2,884	)
Common stock undistributed losses	$	(2,196	)	$	(2,196	)	$	(2,462	)	$	(2,462	)
Class B common stock undistributed losses		(374	)		(374	)		(422	)		(422	)
Total undistributed losses	$	(2,570	)	$	(2,570	)	$	(2,884	)	$	(2,884	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		11,097			11,097			11,022			11,022
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					13,194						13,119
Net income (loss) per share:
Common stock	$	(0.02	)	$	(0.02	)	$	(0.04	)	$	(0.04	)
Class B common stock	$	(0.02	)	$	(0.02	)	$	(0.04	)	$	(0.04	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first nine months of fiscal 2021 and fiscal 2020 were 1,300 and 943, respectively.