Earnings Per Share

3 Months Ended

Aug. 27, 2023

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended
(In thousands, except per share amounts)	August 27, 2023		August 28, 2022
Numerator:
Net loss from continuing operations	$	(12,610)	$	(6,707)
Income (loss) from discontinued operations, net of tax	1,856		(4,259)
Net loss	$	(10,754)	$	(10,966)

Denominator:
Weighted average shares for basic and diluted net income (loss) per share	30,403		29,577





Basic and diluted net income (loss) per share:
Loss from continuing operations	$	(0.41)	$	(0.23)
Income (loss) from discontinued operations	0.06		(0.14)
Total basic and diluted net loss per share	$	(0.35)	$	(0.37)

Due to the Company’s net loss for the three months ended August 27, 2023 and August 28, 2022, the net loss per share includes only the weighted average shares outstanding and thus excludes 271,695 and 165,690 RSUs; 611 and 23,618 stock options; and 5,684,230 and 0 shares issuable upon conversion of Convertible Preferred Stock, respectively, as such impact would be antidilutive. All antidilutive items relate to the Company’s continuing operations.

See Note 2 – Convertible Preferred Stock for more information on outstanding Convertible Preferred Stock and Note 3 – Stock-based Compensation and Stockholders’ Equity more information on outstanding RSUs and stock options.