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Note 7 - Income Taxes (Tables)

12 Months Ended

May 29, 2016

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year ended				Year ended				Year ended
		May 29, 2016				May 31, 2015				May 25, 2014
Current:
Federal		$	2,382			$	3,480			$	4,785
State			(82	)			43				157
Foreign			83				71				56
Total			2,383				3,594				4,998
Deferred:
Federal			(9,177	)			3,789				5,059
State			(610	)			363				526
Total			(9,787	)			4,152				5,585
Income tax (benefit)/expense		$	(7,404	)		$	7,746			$	10,583

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year Ended May 29, 2016				Year Ended May 31, 2015				Year Ended May 25, 2014
Provision at U.S. statutory rate of 35%		$	(6,666	)		$	7,451			$	10,405
State income taxes, net of federal benefit			(504	)			566				711
Change in valuation allowance			6				353				99
Tax credits			(156	)			(375	)			(378	)
Domestic manufacturing deduction			(307	)			(369	)			(406	)
Stock-based compensation			173				142				(47	)
Other			50				(22	)			199
Total		$	(7,404	)		$	7,746			$	10,583

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		May 29, 2016				May 31, 2015
Deferred tax assets:
Net operating loss carryforwards		$	3,030			$	3,415
Accruals and reserves			1,836				1,964
Stock-based compensation			1,436				662
Research and AMT credit carryforwards			468				515
Other			926				966
Gross deferred tax assets			7,696				7,522
Valuation allowance			(1,240	)			(1,234	)
Net deferred tax assets			6,456				6,288
Deferred tax liabilities:
Basis difference in investment in non-public company			(11,125	)			(10,753	)
Depreciation and amortization			(9,758	)			(7,186	)
Goodwill and other indefinite life intangibles			(8,015	)			(20,578	)
Deferred tax liabilities			(28,898	)			(38,517	)
Net deferred tax liabilities		$	(22,442	)		$	(32,229	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		As of
		May 29 , 201 6				May 31 , 201 5				May 25, 2014
Unrecognized tax benefits – beginning of the period		$	987			$	1,035			$	998
Gross increases – tax positions in prior period			1				17				7
Gross decreases – tax positions in prior period			(223	)			(141	)			(48	)
Gross increases – current-period tax positions			77				76				78
Unrecognized tax benefits – end of the period		$	842			$	987			$	1,035

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
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