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DISCONTINUED OPERATIONS
 12 Months Ended
May 28, 2016
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
5. DISCONTINUED OPERATIONS

 

Financial Summary - Discontinued Operations

 

Summary financial results for fiscal 2016, 2015, and 2014 are presented in the following table (in thousands): 

 

   Fiscal 2016  Fiscal 2015  Fiscal 2014
Net sales  $—   $—   $402 
Gross loss(1)   —    —    (330)
Selling, general, and administrative expenses (2)   —    —    215 
Income tax provision (benefit) (3)   —    31    (375)
Loss from discontinued operations, net of tax   —    (31)   (170)

 

Notes: 

(1) Gross loss for fiscal year 2014 includes unabsorbed manufacturing labor and overhead expenses related to the Manufacturing Agreement with RFPD which ended March 1, 2014.
(2) Selling, General and Administrative expenses in fiscal year 2014 related primarily to professional fees for tax audits resulting from the Transaction.
(3) The income tax provision for fiscal year 2015 was due to an income tax audit as a result of the Transaction. The income tax benefits in fiscal year 2014 relates to the reversal of tax reserves.