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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Feb. 25, 2018
Feb. 26, 2017
Feb. 25, 2018
Feb. 26, 2017
Product sales $ 149,323 $ 136,568 $ 409,137 $ 404,827
Cost of product sales 129,195 113,136 353,971 341,298
Gross profit 20,128 23,432 55,166 63,529
Operating expenses:        
Research and development 3,113 2,014 9,204 5,917
Selling, general and administrative 13,807 15,009 40,786 41,969
Legal settlement charge 2,080 2,580
Total operating costs and expenses 16,920 19,103 49,990 50,466
Operating income 3,208 4,329 5,176 13,063
Dividend income 413 413 1,238 1,238
Interest income 87 8 161 15
Interest expense (531) (400) (1,415) (1,432)
Loss on debt refinancing (1,233)
Other income 700 2,200 700
Net income before taxes 3,177 5,050 7,360 12,351
Income tax benefit (expense) 12,909 (1,556) 11,451 (4,138)
Consolidated net income 16,086 3,494 18,811 8,213
Non-controlling interest benefit (expense) 2 6 (90) (75)
Net income applicable to common stockholders $ 16,088 $ 3,500 $ 18,721 $ 8,138
Basic net income per share (in dollars per share) $ 0.58 $ 0.13 $ 0.68 $ 0.30
Diluted net income per share (in dollars per share) $ 0.58 $ 0.13 $ 0.67 $ 0.29
Shares used in per share computation        
Basic (in shares) 27,547 27,286 27,524 27,252
Diluted (in shares) 27,918 27,682 27,884 27,608
Other comprehensive income, net of tax:        
Change in net unrealized gains on interest rate swap (net of tax effect of $210, $59, $552, and $251) $ 347 $ 103 $ 483 $ 430
Other comprehensive income, net of tax 347 103 483 430
Total comprehensive income $ 16,435 $ 3,603 $ 19,204 $ 8,568