Calculation of Earnings Per Share (Tables)

3 Months Ended

Aug. 27, 2022

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 27, 2022				August 28, 2021
	Basic		Diluted		Basic		Diluted
Numerator for Basic and Diluted EPS:
Net income	$	6,324	$	6,324	$	2,635	$	2,635
Less dividends:
Common stock		709		709		673		673
Class B common stock		110		110		113		113
Undistributed earnings	$	5,505	$	5,505	$	1,849	$	1,849
Common stock undistributed earnings	$	4,755	$	4,788	$	1,582	$	1,588
Class B common stock undistributed earnings		750		717		267		261
Total undistributed earnings	$	5,505	$	5,505	$	1,849	$	1,849
Denominator for Basic and Diluted EPS:
Common stock weighted average shares		11,715		11,715		11,194		11,194
Effect of dilutive securities
Dilutive stock options				616				273
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion				12,331				11,467
Class B commons stock weighted average shares and shares under if-converted method for diluted EPS		2,053		2,053		2,097		2,097
Net income per share:
Common stock	$	0.47	$	0.45	$	0.20	$	0.20
Class B common stock	$	0.42	$	0.40	$	0.18	$	0.18

Note: There were no common stock options that were antidilutive in the first quarter of fiscal 2023 and fiscal 2022.