XML 22 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Earnings Per Share
 6 Months Ended
Nov. 26, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share 
The following table sets forth the computation of basic and diluted earnings per share:

Three Months EndedSix Months Ended
(In thousands, except per share amounts)
November 26, 2023November 27, 2022November 26, 2023November 27, 2022
Numerator:  
Net income (loss) from continuing operations$14,242 $(9,201)$1,632 $(15,908)
Net income (loss) from discontinued operations, net of tax(24)(3,605)1,832 (7,864)
Net income (loss)$14,218 $(12,806)$3,464 $(23,772)
Denominator:
Weighted average shares for basic income (loss) per share30,458 29,634 30,431 29,605 
Potential preferred stock conversion to common stock5,791 — 5,738 — 
Dilutive stock options and RSUs170 — 229 — 
Weighted average shares for diluted income (loss) per share36,419 29,634 36,398 29,605 
Basic net income (loss) per share:
Income (loss) from continuing operations$0.47 $(0.31)$0.05 $(0.54)
Income (loss) from discontinued operations— (0.12)0.06 (0.26)
Total basic net income (loss) per share$0.47 $(0.43)$0.11 $(0.80)
Diluted net income (loss) per share:
Income (loss) from continuing operations$0.39 $(0.31)$0.05 $(0.54)
Income (loss) from discontinued operations— (0.12)0.05 (0.26)
Total diluted net income (loss) per share$0.39 $(0.43)$0.10 $(0.80)

Due to the Company’s net loss for the three months ended November 27, 2022, the net loss per share includes only the weighted average shares outstanding and thus excludes 150,819 RSUs and 6,557 stock options, as such impact would be antidilutive. All antidilutive items relate to the Company’s continuing operations.

Due to the Company’s net loss for the six months ended November 27, 2022, the net loss per share includes only the weighted average shares outstanding and thus excludes 134,827 RSUs and 4,367 stock options, 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.