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NET INCOME PER SHARE
 12 Months Ended
May 30, 2025
Net income (loss) per share:  
NET INCOME PER SHARE

14. NET INCOME (LOSS) PER SHARE

 

Basic net income (loss) per share is determined using the weighted average number of common shares outstanding during the period. Diluted net income per share is determined using the weighted average number of common shares and potential common shares (representing the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options, and vesting of outstanding RSUs and ESPP shares) during the period using the treasury stock method. The calculation of dilutive shares outstanding excludes securities that would have an antidilutive effect on net income per share.

The following table presents the computation of basic and diluted net income (loss) per share:

 

 

 

Year Ended

 

 

 

May 30,

 

 

May 31,

 

 

May 31,

 

(In thousands, except per share data)

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$(3,910)

 

$33,156

 

 

$14,557

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

29,581

 

 

 

28,818

 

 

 

27,785

 

Dilutive effect of common equivalent shares outstanding

 

 

-

 

 

 

799

 

 

 

1,430

 

Diluted weighted average shares outstanding

 

 

29,581

 

 

 

29,617

 

 

 

29,215

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - Basic

 

$(0.13)

 

$1.15

 

 

$0.52

 

Net income (loss) per share - Diluted

 

$(0.13)

 

$1.12

 

 

$0.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive employee share-based awards, excluded

 

 

1,781

 

 

 

351

 

 

 

5