Calculation of Earnings Per Share (Tables)

3 Months Ended

Aug. 28, 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 were based on the following amounts (in thousands, except per share amounts):

	Three Months Ended
	August 28, 2021				August 29, 2020
	Basic		Diluted		Basic			Diluted
Numerator for Basic and Diluted EPS:
Net income (loss)	$	2,635	$	2,635	$	(1,147	)	$	(1,147	)
Less dividends:
Common stock		673		673		667			667
Class B common stock		113		113		113			113
Undistributed earnings (loss)	$	1,849	$	1,849	$	(1,927	)	$	(1,927	)
Common stock undistributed earnings (loss)	$	1,582	$	1,588	$	(1,646	)	$	(1,646	)
Class B common stock undistributed earnings (loss)		267		261		(281	)		(281	)
Total undistributed earnings (loss)	$	1,849	$	1,849	$	(1,927	)	$	(1,927	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		11,194		11,194		11,070			11,070
Effect of dilutive securities
Dilutive stock options				273					—
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion				11,467					11,070
Class B commons stock weighted average shares, and shares under if-converted method for diluted EPS		2,097		2,097		2,097			2,097
Net income (loss) per share:
Common stock	$	0.20	$	0.20	$	(0.09	)	$	(0.09	)
Class B common stock	$	0.18	$	0.18	$	(0.08	)	$	(0.08	)

Note: The were no common stock options that were antidilutive in the first quarter of fiscal 2022. Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first quarter of fiscal 2021 were 1,593.