Note 15 - Supplemental Quarterly Financial Data (Unaudited)

12 Months Ended

May 31, 2016

Notes to Financial Statements

Quarterly Financial Information [Text Block]

1

5

. Supplemental

Quarterly Financial Data (Unaudited)

Quarterly financial re

sults for the years ended May 31, 2016 and June 2, 2015, are summarized below.

(In thousands, except per-share data)

	For the Year Ended May 31, 2016
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Revenues	$	279,480		$	260,956		$	271,470		$	279,322		$	1,091,228
Gross profit*	$	45,697		$	41,982		$	47,659		$	53,282		$	188,620
Loss before income taxes	$	(5,217	)	$	(15,979	)	$	(3,569	)	$	(28,097	)	$	(52,862	)
Benefit for income taxes		(1,023	)		(180	)		(483	)		(494	)		(2,180	)
Net loss	$	(4,194	)	$	(15,799	)	$	(3,086	)	$	(27,603	)	$	(50,682	)
Basic loss per share:
Net loss per share **	$	(0.07	)	$	(0.26	)	$	(0.05	)	$	(0.46	)	$	(0.83	)
Diluted loss per share:
Net loss per share **	$	(0.07	)	$	(0.26	)	$	(0.05	)	$	(0.46	)	$	(0.83	)

	For the Year Ended June 2, 2015
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		Total
Revenues	$	281,182		$	262,659		$	285,913		$	296,812	$	1,126,566
Gross profit (as adjusted)*	$	50,975		$	37,533		$	50,465		$	56,917	$	195,890
(Loss)/income before income taxes	$	(69	)	$	(9,868	)	$	(881	)	$	5,713	$	(5,105	)
(Benefit)/provision for income taxes		(2,634	)		(595	)		(112	)		1,430		(1,911	)
Net income/(loss)	$	2,565		$	(9,273	)	$	(769	)	$	4,283	$	(3,194	)
Basic loss per share:
Net income/(loss) per share	$	0.04		$	(0.15	)	$	(0.01	)	$	0.07	$	(0.05	)
Diluted loss per share:
Net income/(loss) per share	$	0.04		$	(0.15	)	$	(0.01	)	$	0.07	$	(0.05	)

*

We define gross profit as revenue less cost of goods sold, payroll and related costs, and other restaurant operating costs.  As previously discussed in Note 1 to the Consolidated Financial Statements, we reclassified amortization of intangible assets from other restaurant operating costs to depreciation and amortization in the Consolidated Statements of Operations and Comprehensive Loss for the prior fiscal year to be comparable with the classification for the fiscal year ended May 31, 2016.

** The sum of the quarterly

(loss)/income per share does not equal the reported annual amount as each is computed independently based upon the weighted average number of shares outstanding for the period.