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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
3 Months Ended
Aug. 27, 2023
Aug. 28, 2022
Revenues $ 24,522,000 $ 23,724,000
Cost of goods sold 21,794,000 17,745,000
Gross profit 2,728,000 5,979,000
Operating costs and expenses:    
Research and development 2,146,000 2,211,000
Selling, general, and administrative 9,206,000 8,103,000
Gain on sale of divested business 0 (2,108,000)
Restructuring costs (10,000) 1,047,000
Total operating costs and expenses 11,342,000 9,253,000
Operating loss (8,614,000) (3,274,000)
Change in fair value of debt derivative liability, related party 200,000 0
Other expense, net (170,000) (198,000)
Net loss from continuing operations before taxes (12,522,000) (6,703,000)
Provision for income tax benefit (expense) (88,200) (4,000)
Net loss from continuing operations (12,610,000) (6,707,000)
Discontinued operations:    
Income (loss) from discontinued operations 1,850,000 (4,259,000)
Income tax (expense) benefit 6,000 0
Income (loss) from discontinued operations, net of tax 1,856,000 (4,259,000)
Net loss $ (10,754,000) $ (10,966,000)
Basic and diluted net income (loss) per share:    
Loss from continuing operations - basic (in dollars per share) $ (0.41) $ (0.23)
Income (loss) from discontinued operations - basic (in dollars per share) 0.06 (0.14)
Total basic net loss per share (in dollars per share) (0.35) (0.37)
Loss from continuing operations - diluted (in dollars per share) (0.41) (0.23)
Income (loss) from discontinued operations - diluted (in dollars per share) 0.06 (0.14)
Total diluted net loss per share (in dollars per share) $ (0.35) $ (0.37)
Shares used in per share computation:    
Basic (in shares) 30,403 29,577
Diluted (in shares) 30,403 29,577
Other comprehensive income (loss), net of tax:    
Net loss $ (10,754,000) $ (10,966,000)
Net unrealized gain on interest rate swaps (net of tax effect of $16) 0 300,000
Total comprehensive loss (10,754,000) (10,666,000)
Nonrelated Party    
Revenues 16,953,000 23,724,000
Operating costs and expenses:    
Interest expense, net (793,000) (3,231,000)
Related Party    
Revenues 7,569,000 0
Operating costs and expenses:    
Interest expense, net $ (3,145,000) $ 0