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SIGNIFICANT ACCOUNTING POLICIES AND DISCLOSURES (Tables)

12 Months Ended

May 28, 2016

Accounting Policies [Abstract]

Schedule of property, plant and equipment

Property, plant and equipment consist of the following (in thousands): 

		May 28,  2016				May 30,  2015
Land and improvements		$	1,301			$	1,594
Buildings and improvements			19,023				18,883
Computer and communications equipment			6,810				6,774
Construction in progress			2,721				1,218
Machinery and other equipment			8,080				6,562
		$	37,935			$	35,031
Accumulated depreciation			(24,949	)			(24,950	)
Property, plant, and equipment, net		$	12,986			$	10,081

Schedule of property plant and equipment estimated useful lives

Supplemental disclosure information of the estimated useful life of the assets:

Land improvements	10 years
Buildings and improvements	10 - 30 years
Computer and communications equipment	3 - 10 years
Machinery and other equipment	3 - 10 years

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

		May 28, 2016				May 30, 2015
Compensation and payroll taxes		$	4,054			$	4,303
Income taxes			0				572
Professional fees			775				885
Deferred revenue			1,879				1,680
Other accrued expenses			2,427				2,704
Accrued Liabilities		$	9,135			$	10,144

Schedule of warranty reserve

Changes in the warranty reserve during fiscal 2016 and 2015 were as follows (in thousands):

		Warranty Reserve
Balance at May 31, 2014		$	175
Accruals for products sold			116
Utilization			(103	)
Balance at May 30, 2015		$	188
Accruals for products sold			108
Utilization			(86	)
Balance at May 28, 2016		$	210

Schedule of share-based compensation, stock options, activity

A summary of stock option activity is as follows (in thousands, except option prices and years):

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life					Aggregate Intrinsic Value
Options Outstanding at June 1, 2013			944			$	10.13
Granted			224				11.15
Exercised			(32	)			5.84
Forfeited			(54	)			11.73
Cancelled			(17	)			11.52
Options Outstanding at May 31, 2014			1,065			$	10.37
Granted			225				9.92
Exercised			(47	)			6.53
Forfeited			(34	)			11.42
Cancelled			(72	)			11.19
Options Outstanding at May 30, 2015			1,137			$	10.35
Granted			122				5.88
Exercised			(28	)			5.18
Forfeited			(105	)			10.98
Cancelled			(107	)			9.97
Options Outstanding at May 28, 2016			1,019			$	9.93				6.0			$	4
Options Vested at May 28, 2016			602			$	10.34				4.6			$	4

Schedule of share-based payment award, stock options, valuation assumptions

The fair value of stock options is estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:

		Fiscal Year Ended
		May 28,  2016				May 30,  2015				May 31,  2014
Expected volatility			32.21	%			46.12	%			49.31	%
Risk-free interest rate			1.78	%			2.12	%			2.03	%
Expected lives (years)			6.50				6.47				6.47
Annual cash dividend		$	0.24			$	0.24			$	0.24

Schedule of share-based compensation, shares outstanding under stock option plans, by exercise price range

The following table summarizes information about stock options outstanding at May 28, 2016 (in thousands, except option prices and years):

		Outstanding																Vested
Exercise Price Range		Shares				Weighted Average Exercise Price				Weighted Average Life				Aggregate Intrinsic Value				Shares				Weighted Average Exercise Price				Weighted Average Life				Aggregate Intrinsic Value
$5.03 to $8.58			285			$	6.01				5.4			$	4				169			$	6.10				2.6			$	4
$9.48 to $11.14			382			$	10.49				7.6			$	—				133			$	10.65				6.9			$	—
$11.50 to $13.76			352			$	12.51				4.9			$	—				300			$	12.59				4.6			$	—
Total			1,019			$	9.93				6.0			$	4				602			$	10.34				4.6			$	4

Schedule of earnings per share, basic and diluted

The per share amounts presented in the consolidated statements of comprehensive income (loss) are based on the following (amounts in thousands, except per share amounts):

		For the Fiscal Year Ended
		May 28, 2016								May 30, 2015								May 31, 2014
		Basic				Diluted				Basic				Diluted				Basic				Diluted
Numerator for Basic and Diluted EPS:
Loss from continuing operations		$	(6,766	)		$	(6,766	)		$	(5,528	)		$	(5,528	)		$	(345	)		$	(345	)
Less dividends:
Common stock			2,615				2,615				2,794				2,794				2,853				2,853
Class B common stock			464				464				466				466				488				488
Undistributed losses		$	(9,845	)		$	(9,845	)		$	(8,788	)		$	(8,788	)		$	(3,686	)		$	(3,686	)
Common stock undistributed losses		$	(8,367	)		$	(8,367	)		$	(7,539	)		$	(7,539	)		$	(3,151	)		$	(3,151	)
Class B common stock undistributed losses			(1,478	)			(1,478	)			(1,249	)			(1,249	)			(535	)			(535	)
Total undistributed losses		$	(9,845	)		$	(9,845	)		$	(8,788	)		$	(8,788	)		$	(3,686	)		$	(3,686	)
Loss from discontinued operations		$	—			$	—			$	(31	)		$	(31	)		$	(170	)		$	(170	)
Less dividends:
Common stock			2,615				2,615				2,794				2,794				2,853				2,853
Class B common stock			464				464				466				466				488				488
Undistributed losses		$	(3,079	)		$	(3,079	)		$	(3,291	)		$	(3,291	)		$	(3,511	)		$	(3,511	)
Common stock undistributed losses		$	(2,615	)		$	(2,615	)		$	(2,823	)		$	(2,823	)		$	(3,001	)		$	(3,001	)
Class B common stock undistributed losses			(464	)			(464	)			(468	)			(468	)			(510	)			(510	)
Total undistributed losses		$	(3,079	)		$	(3,079	)		$	(3,291	)		$	(3,291	)		$	(3,511	)		$	(3,511	)
Net loss		$	(6,766	)		$	(6,766	)		$	(5,559	)		$	(5,559	)		$	(515	)		$	(515	)
Less dividends:
Common stock			2,615				2,615				2,794				2,794				2,853				2,853
Class B common stock			464				464				466				466				488				488
Undistributed losses		$	(9,845	)		$	(9,845	)		$	(8,819	)		$	(8,819	)		$	(3,856	)		$	(3,856	)
Common stock undistributed losses		$	(8,367	)		$	(8,367	)		$	(7,565	)		$	(7,565	)		$	(3,296	)		$	(3,296	)
Class B common stock undistributed losses			(1,478	)			(1,478	)			(1,254	)			(1,254	)			(560	)			(560	)
Total undistributed losses		$	(9,845	)		$	(9,845	)		$	(8,819	)		$	(8,819	)		$	(3,856	)		$	(3,856	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares			10,908				10,908				11,682				11,682				11,915				11,915
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS			2,141				2,141				2,151				2,151				2,250				2,250
Effect of dilutive stock options							—								—								—
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions							13,049								13,833								14,165
Loss from continuing operations per share:
Common stock		$	(0.53	)		$	(0.53	)		$	(0.41	)		$	(0.41	)		$	(0.03	)		$	(0.03	)
Class B common stock		$	(0.47	)		$	(0.47	)		$	(0.36	)		$	(0.36	)		$	(0.02	)		$	(0.02	)
Income from discontinued operations per share:
Common stock		$	—			$	—			$	—			$	—			$	(0.01	)		$	(0.01	)
Class B common stock		$	—			$	—			$	—			$	—			$	(0.01	)		$	(0.01	)
Net loss per share:
Common stock		$	(0.53	)		$	(0.53	)		$	(0.41	)		$	(0.41	)		$	(0.04	)		$	(0.04	)
Class B common stock		$	(0.47	)		$	(0.47	)		$	(0.36	)		$	(0.36	)		$	(0.03	)		$	(0.03	)

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for fiscal 2016, fiscal 2015, and fiscal 2014 were 890; 881; and 489 respectively.

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