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Income Taxes (Tables)

12 Months Ended

May 31, 2013

Income Taxes [Abstract]

State income taxes and changes in deferred tax assets valuation allowance

The difference between the Corporation’s statutory federal income tax rate of 34 percent in fiscal 2013 and 2012, and the effective income tax rate is due primarily to state income taxes and changes in deferred tax assets valuation allowance and are as follows:

		Year ended May 31,
		2013				2012
		(Dollars in thousands)
Income taxes at statutory federal rate		$	(3,574	)		$	(6,584	)
State income taxes			93				(47	)
State net operating loss			(605	)			(1,047	)
New Energy Efficient Home Credit			(91	)			(117	)
Alternative Fuel Credit			—				(12	)
Other federal credits			—				(7	)
Increase in deferred tax assets valuation allowance			4,189				7,436
Other, net			(12	)			378
Income tax benefit		$	—			$	—
Effective tax rate			0	%			0	%

Components of the net deferred tax assets include

Components of the net deferred tax assets include:

		May 31,
		2013				2012
		(Dollars in thousands)
Current deferred tax assets
Accrued marketing programs		$	55			$	207
Accrued warranty expense			1,466				1,560
Accrued workers’ compensation			638				843
Accrued vacation			319				345
Other			143				180
Gross current deferred tax assets			2,621				3,135
Noncurrent deferred tax assets
Liability for certain post-retirement benefits			2,252				2,286
Accrued warranty expense			876				807
Federal net operating loss carryforward			26,616				22,747
Federal tax credit carryforward			1,205				1,038
State net operating loss carryforward			7,380				6,775
Depreciation			735				755
Other			(43	)			(90	)
Gross noncurrent deferred tax assets			39,021				34,318
Total gross deferred tax assets			41,642				37,453
Valuation allowance			(41,642	)			(37,453	)
Net deferred tax assets		$	—			$	—

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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