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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Nov. 25, 2018
Nov. 26, 2017
Nov. 25, 2018
Nov. 26, 2017
Product sales $ 124,912,000 $ 122,461,000 $ 249,580,000 $ 238,242,000
Cost of product sales 108,319,000 107,540,000 216,650,000 204,519,000
Gross profit 16,593,000 14,921,000 32,930,000 33,723,000
Operating costs and expenses:        
Research and development 2,533,000 3,372,000 5,366,000 6,091,000
Selling, general and administrative 14,666,000 12,244,000 28,617,000 25,602,000
Total operating costs and expenses 17,199,000 15,616,000 33,983,000 31,693,000
Operating (loss) income (606,000) (695,000) (1,053,000) 2,030,000
Dividend income 412,000 412,000 825,000 825,000
Interest income 33,000 42,000 79,000 73,000
Interest expense (746,000) [1] (480,000) (1,504,000) (884,000)
Other income 600,000 1,300,000 1,600,000 2,200,000
Net (loss) income from continuing operations before tax (307,000) 579,000 (53,000) 4,244,000
Income tax expense (277,000) (165,000) (342,000) (1,475,000)
Net (loss) income from continuing operations (584,000) 414,000 (395,000) 2,769,000
Income (loss) from discontinued operations 141,000 (62,000)
Income tax (expense) benefit (42,000) 18,000
Income (loss) from discontinued operations, net of tax 99,000 (44,000)
Consolidated net (loss) income (584,000) 513,000 (395,000) 2,725,000
Non-controlling interest expense (26,000) (92,000)
Net (loss) income applicable to common stockholders $ (584,000) $ 487,000 $ (395,000) $ 2,633,000
Basic net (loss) income per share:        
(Loss) income from continuing operations (in dollars per share) $ (0.02) $ 0.02 $ (0.01) $ 0.10
Income (loss) from discontinued operations (in dollars per share)
Total basic net (loss) income per share (in dollars per share) (0.02) 0.02 (0.01) 0.10
Diluted net (loss) income per share        
(Loss) income from continuing operations (in dollars per share) (0.02) 0.02 (0.01) 0.10
Income (loss) from discontinued operations (in dollars per share)
Total diluted net (loss) income per share (in dollars per share) $ (0.02) $ 0.02 $ (0.01) $ 0.10
Basic (in shares) 27,764 27,518 27,751 27,512
Diluted (in shares) 27,764 27,875 27,751 27,866
Other comprehensive income (loss), net of tax:        
Net unrealized gains (losses) on interest rate swaps (net of tax effect of $53, $140, $(25), and $85) $ 76,000 $ 239,000 $ (13,000) $ 136,000
Other comprehensive income (loss), net of tax 76,000 239,000 (13,000) 136,000
Total comprehensive (loss) income $ (508,000) $ 726,000 $ (408,000) $ 2,769,000
[1] Beginning in first quarter of fiscal 2019, the Company began allocating interest expense to its reportable segments in information provided to its CODM to enhance visibility into how financing activities impact the discrete financial results.