XML 34 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Note 12 - Quarterly Consolidated Financial Information (Unaudited) | 12 Months Ended
--- | ---
May 27, 2018
Notes to Financial Statements |
Quarterly Financial Information [Text Block] | 12. Quarterly Consolidated Financial Information (unaudited) The following is a summary of the unaudited quarterly results of operations for fiscal years 2018 and 2017 (in thousands, except for per share amounts):
Fiscal Year 2018 |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |  |  | Annual |
Revenues |  | $ | 115,781 |  |  | $ | 122,461 |  |  | $ | 144,909 |  |  | $ | 141,076 |  |  | $ | 524,227 |
Gross profit |  | $ | 18,802 |  |  | $ | 14,921 |  |  | $ | 19,806 |  |  | $ | 24,809 |  |  | $ | 78,338 |
Net income from continuing operations |  | $ | 2,355 |  |  | $ | 414 |  |  | $ | 16,281 |  |  | $ | 6,711 |  |  | $ | 25,761 |
Net income applicable to common stockholders |  | $ | 2,146 |  |  | $ | 487 |  |  | $ | 16,088 |  |  | $ | 6,108 |  |  | $ | 24,829 |
Net income per basic share from continuing operations |  | $ | 0.08 |  |  | $ | 0.02 |  |  | $ | 0.59 |  |  | $ | 0.24 |  |  | $ | 0.93 |
Net income per diluted share from continuing operations |  | $ | 0.08 |  |  | $ | 0.02 |  |  | $ | 0.58 |  |  | $ | 0.24 |  |  | $ | 0.92 |
Fiscal Year 2017 |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |  |  | 4th Quarter |  |  | Annual |
Revenues |  | $ | 109,055 |  |  | $ | 110,164 |  |  | $ | 129,292 |  |  | $ | 121,265 |  |  | $ | 469,776 |
Gross profit |  | $ | 20,116 |  |  | $ | 17,103 |  |  | $ | 22,873 |  |  | $ | 19,120 |  |  | $ | 79,212 |
Net income from continuing operations |  | $ | 3,183 |  |  | $ | 765 |  |  | $ | 3,591 |  |  | $ | 2,596 |  |  | $ | 10,135 |
Net income applicable to common stockholders |  | $ | 3,312 |  |  | $ | 1,326 |  |  | $ | 3,500 |  |  | $ | 2,452 |  |  | $ | 10,590 |
Net income per basic share from continuing operations |  | $ | 0.12 |  |  | $ | 0.03 |  |  | $ | 0.13 |  |  | $ | 0.09 |  |  | $ | 0.37 |
Net income per diluted share from continuing operations |  | $ | 0.11 |  |  | $ | 0.03 |  |  | $ | 0.13 |  |  | $ | 0.09 |  |  | $ | 0.36 |
During the fourth quarter of fiscal year 2018, the Company determined that it had improperly included accrued capital expenditures in cash used in investing activities from the purchase of property and equipment in its statements of cash flows for the previous annual financial statements and the quarterly financial statements for fiscal years 2018 and 2017. While the Company concluded that the impact of these errors was not material to prior annual periods, the Company concluded that the errors were material to its 2018 and 2017 quarterly statements of cash flows. As a result, the Company has restated all quarterly periods in fiscal years 2018 and 2017 to reflect the correction of these errors (the Restatement). The following tables summarize the impact of the Restatement on the Company’s previously reported consolidated statements of cash flows included in the Quarterly Reports on Forms 10 -Q for each respective period.
Fiscal Year 2018 |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |
Cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
As Reported |  | $ | (131 | ) |  | $ | 4,330 |  |  | $ | 18,098 |
Adjustment |  |  | 3,581 |  |  |  | 2,006 |  |  |  | 2,202 |
Restated |  | $ | 3,450 |  |  | $ | 6,336 |  |  | $ | 20,300 |
Cash used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |
As Reported |  | $ | (3,288 | ) |  | $ | (9,457 | ) |  | $ | (20,544 | )
Adjustment |  |  | (3,581 | ) |  |  | (2,006 | ) |  |  | (2,202 | )
Restated |  | $ | (6,869 | ) |  | $ | (11,463 | ) |  | $ | (22,746 | )
Fiscal Year 2017 |  | 1st Quarter |  |  | 2nd Quarter |  |  | 3rd Quarter |
Cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
As Reported |  | $ | 6,467 |  |  | $ | 5,527 |  |  | $ | 23,181 |
Adjustment |  |  | 3,502 |  |  |  | 4,185 |  |  |  | 3,445 |
Restated |  | $ | 9,969 |  |  | $ | 9,712 |  |  | $ | 26,626 |
Cash used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |
As Reported |  | $ | (2,122 | ) |  | $ | (4,724 | ) |  | $ | (9,414 | )
Adjustment |  |  | (3,502 | ) |  |  | (4,185 | ) |  |  | (3,445 | )
Restated |  | $ | (5,624 | ) |  | $ | (8,909 | ) |  | $ | (12,859 | )

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration