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Quarterly Results
 12 Months Ended
Jun. 02, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

NOTE N - QUARTERLY RESULTS (UNAUDITED) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st

 

2nd

 

3rd

 

4th

 

 

Fiscal Year Ended June 2, 2015

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$
62,583 

 

$
52,016 

 

$
47,073 

 

$
50,221 

 

$
211,893 

Operating Income

 

 
3,851 

 

 
3,354 

 

 
2,996 

 

 
3,171 

 

 
13,372 

Net earnings

 

 
2,623 

 

 
2,464 

 

 
2,338 

 

 
2,530 

 

 
9,955 

Basic net earnings per share

 

 
0.51 

 

 
0.48 

 

 
0.46 

 

 
0.49 

 

 
1.94 

Diluted net earnings per share

 

 
0.51 

 

 
0.48 

 

 
0.45 

 

 
0.50 

 

 
1.94 

 

 

·

The first quarter contained 16 weeks, while the last three quarters each contained 12 weeks.

 

·

Net earnings in the third quarter included charges related to the forensic investigation and professional fees for investigating the theft of $1,730 and $1,871 for Fiscal Year 2015.  During the fourth quarter, the Company recovered $505 of for these expenses under its crime insurance policy.  The net expenditures are recorded as a component of Administrative expense.

 

·

Net earnings for Fiscal Year 2015 include charges related to legal and professional fees in support of the Agreement and Plan of Merger entered into on May 21, 2015 for $2,181. The net expenditures are recorded as a component of Administrative expense.

 

·

Net earnings include $2,999 gains from the sale of three parcels of real property during Fiscal Year 2015, the proceeds of which were $4,222.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st

 

2nd

 

3rd

 

4th

 

 

Fiscal Year Ended June 3, 2014

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$
61,236 

 

$
49,217 

 

$
45,161 

 

$
53,559 

 

$
209,173 

Operating Income

 

 
2,984 

 

 
3,320 

 

 
1,090 

 

 
3,517 

 

 
10,911 

Net earnings

 

 
1,936 

 

 
2,350 

 

 
1,634 

 

 
3,552 

 

 
9,472 

Basic net earnings per share

 

 
0.38 

 

 
0.46 

 

 
0.32 

 

 
0.70 

 

 
1.86 

Diluted net earnings per share

 

 
0.38 

 

 
0.46 

 

 
0.32 

 

 
0.70 

 

 
1.86 

 

·

The first quarter contained 16 weeks, the second and third quarter each contained 12 weeks while the fourth quarter contained 13 weeks.

 

 

NOTE N - QUARTERLY RESULTS (UNAUDITED) (continued)

 

·

The third quarter tax provision was recorded as a net tax benefit of $691.  The fourth quarter tax provision was recorded as a tax benefit of $140.  These tax benefits are primarily attributable to amended federal income tax returns associated with the Domestic Production Activities Deduction (DPAD).