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Significant Accounting Policies and Disclosures (Tables) | 12 Months Ended
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Jun. 01, 2019
Accounting Policies [Abstract] |
Schedule of Property, Plant and Equipment | Property, plant and equipment consist of the following (in thousands):
|  | June 1, 2019 |  |  | June 2, 2018 |
Land and improvements |  | $ | 1,301 |  |  | $ | 1,301 |
Buildings and improvements |  |  | 22,986 |  |  |  | 21,673 |
Computer, communications equipment and software |  |  | 9,943 |  |  |  | 9,652 |
Construction in progress |  |  | 979 |  |  |  | 1,582 |
Machinery and other equipment |  |  | 13,884 |  |  |  | 12,004 |
|  | $ | 49,093 |  |  | $ | 46,212 |
Accumulated depreciation |  |  | (29,982 | ) |  |  | (27,980 | )
Property, plant, and equipment, net |  | $ | 19,111 |  |  | $ | 18,232 |
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, communications equipment and software |  | 3 - 10 years
Machinery and other equipment |  | 3 - 20 years
Schedule of Accrued Liabilities | Accrued Liabilities: Accrued liabilities consist of the following (in thousands):
|  | June 1, 2019 |  |  | June 2, 2018 |
Compensation and payroll taxes |  | $ | 2,846 |  |  | $ | 3,449 |
Accrued severance |  |  | 520 |  |  |  | 454 |
Professional fees |  |  | 471 |  |  |  | 527 |
Deferred revenue |  |  | 2,260 |  |  |  | 1,888 |
Other accrued expenses |  |  | 5,176 |  |  |  | 4,025 |
Accrued Liabilities |  | $ | 11,273 |  |  | $ | 10,343 |
Schedule of Warranty Reserve | Changes in the warranty reserve during fiscal 2019 and fiscal 2018 were as follows (in thousands):
|  | Warranty Reserve |
Balance at May 27, 2017 |  | $ | 106 |
Accruals for products sold |  |  | 65 |
Utilization |  |  | (22 | )
Balance at June 2, 2018 |  | $ | 149 |
Accruals for products sold |  |  | 185 |
Utilization |  |  | (39 | )
Balance at June 1, 2019 |  | $ | 295 |
Schedule of Share-Based Compensation, Stock Options, Activity | Stock options granted generally vest over a period of five years and have contractual terms to exercise of 10 years. 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 May 28, 2016 |  |  | 1,019 |  |  | $ | 9.93 |  |  |  |  |  |  |  |  |
Granted |  |  | 190 |  |  |  | 6.90 |  |  |  |  |  |  |  |  |
Exercised |  |  | (5 | ) |  |  | 5.61 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (43 | ) |  |  | 8.39 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (88 | ) |  |  | 11.17 |  |  |  |  |  |  |  |  |
Options Outstanding at May 27, 2017 |  |  | 1,073 |  |  | $ | 9.38 |  |  |  |  |  |  |  |  |
Granted |  |  | 200 |  |  |  | 6.08 |  |  |  |  |  |  |  |  |
Exercised |  |  | (16 | ) |  |  | 5.85 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (11 | ) |  |  | 8.05 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (51 | ) |  |  | 9.36 |  |  |  |  |  |  |  |  |
Options Outstanding at June 2, 2018 |  |  | 1,195 |  |  | $ | 8.89 |  |  |  |  |  |  |  |  |
Granted |  |  | 279 |  |  |  | 9.02 |  |  |  |  |  |  |  |  |
Exercised |  |  | (46 | ) |  |  | 5.61 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (58 | ) |  |  | 8.10 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (6 | ) |  |  | 5.03 |  |  |  |  |  |  |  |  |
Options Outstanding at June 1, 2019 |  |  | 1,364 |  |  | $ | 9.08 |  |  |  | 5.6 |  |  | $ | — |
Options Vested at June 1, 2019 |  |  | 888 |  |  | $ | 9.79 |  |  |  | 4.2 |  |  | $ | — |
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 |
|  | June 1, 2019 |  |  | June 2, 2018 |  |  | May 27, 2017 |
Expected volatility |  |  | 22.24 | % |  |  | 21.92 | % |  |  | 25.41 | %
Risk-free interest rate |  |  | 2.82 | % |  |  | 2.22 | % |  |  | 1.46 | %
Expected lives (years) |  |  | 6.36 |  |  |  | 6.31 |  |  |  | 6.50 |
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 June 1, 2019 (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 |
$5.49 to $6.90 |  |  | 482 |  |  | $ | 6.16 |  |  |  | 6.2 |  |  | $ | — |  |  |  | 255 |  |  | $ | 6.05 |  |  |  | 5.0 |  |  | $ | — |
$7.98 to $10.85 |  |  | 455 |  |  | $ | 9.38 |  |  |  | 7.2 |  |  | $ | — |  |  |  | 206 |  |  | $ | 9.70 |  |  |  | 5.2 |  |  | $ | — |
$11.14 to $13.76 |  |  | 427 |  |  | $ | 12.05 |  |  |  | 3.1 |  |  | $ | — |  |  |  | 427 |  |  | $ | 12.05 |  |  |  | 3.1 |  |  | $ | — |
Total |  |  | 1,364 |  |  | $ | 9.08 |  |  |  | 5.6 |  |  | $ | — |  |  |  | 888 |  |  | $ | 9.79 |  |  |  | 4.2 |  |  | $ | — |
Schedule of Restricted Stock Award Transactions | As of June 1, 2019, a summary of restricted stock award transactions was as follows (in thousands):
|  | Unvested Restricted Shares |
Unvested at May 27, 2017 |  |  | — |
Granted |  |  | 78 |
Vested |  |  | — |
Unvested at June 2, 2018 |  |  | 78 |
Granted |  |  | 69 |
Vested |  |  | (26 | )
Canceled |  |  | (5 | )
Unvested at June 1, 2019 |  |  | 116 |
Schedule of Earnings Per Share, Basic and Diluted | The earnings per share (“EPS”) presented in our consolidated statements of comprehensive (loss) income are based on the following (in thousands, except per share amounts):
|  | For the Fiscal Year Ended |
|  | June 1, 2019 |  |  | June 2, 2018 |  |  | May 27, 2017 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations |  | $ | (7,328 | ) |  | $ | (7,328 | ) |  | $ | 2,326 |  |  | $ | 2,326 |  |  | $ | (6,928 | ) |  | $ | (6,928 | )
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 2,621 |  |  |  | 2,621 |  |  |  | 2,586 |  |  |  | 2,586 |  |  |  | 2,567 |  |  |  | 2,567 |
Class B common stock |  |  | 455 |  |  |  | 455 |  |  |  | 462 |  |  |  | 462 |  |  |  | 464 |  |  |  | 464 |
Undistributed losses |  | $ | (10,404 | ) |  | $ | (10,404 | ) |  | $ | (722 | ) |  | $ | (722 | ) |  | $ | (9,959 | ) |  | $ | (9,959 | )
Common stock undistributed losses |  | $ | (8,866 | ) |  | $ | (8,866 | ) |  | $ | (613 | ) |  | $ | (613 | ) |  | $ | (8,440 | ) |  | $ | (8,440 | )
Class B common stock undistributed losses |  |  | (1,538 | ) |  |  | (1,538 | ) |  |  | (109 | ) |  |  | (109 | ) |  |  | (1,519 | ) |  |  | (1,519 | )
Total undistributed losses |  | $ | (10,404 | ) |  | $ | (10,404 | ) |  | $ | (722 | ) |  | $ | (722 | ) |  | $ | (9,959 | ) |  | $ | (9,959 | )
Income from discontinued operations |  | $ | — |  |  | $ | — |  |  | $ | 1,496 |  |  | $ | 1,496 |  |  | $ | — |  |  | $ | — |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 2,621 |  |  |  | 2,621 |  |  |  | 2,586 |  |  |  | 2,586 |  |  |  | 2,567 |  |  |  | 2,567 |
Class B common stock |  |  | 455 |  |  |  | 455 |  |  |  | 462 |  |  |  | 462 |  |  |  | 464 |  |  |  | 464 |
Undistributed losses |  | $ | (3,076 | ) |  | $ | (3,076 | ) |  | $ | (1,552 | ) |  | $ | (1,552 | ) |  | $ | (3,031 | ) |  | $ | (3,031 | )
Common stock undistributed losses |  | $ | (2,621 | ) |  | $ | (2,621 | ) |  | $ | (1,317 | ) |  | $ | (1,318 | ) |  | $ | (2,567 | ) |  | $ | (2,567 | )
Class B common stock undistributed losses |  |  | (455 | ) |  |  | (455 | ) |  |  | (235 | ) |  |  | (234 | ) |  |  | (464 | ) |  |  | (464 | )
Total undistributed losses |  | $ | (3,076 | ) |  | $ | (3,076 | ) |  | $ | (1,552 | ) |  | $ | (1,552 | ) |  | $ | (3,031 | ) |  | $ | (3,031 | )
Net (loss) income |  | $ | (7,328 | ) |  | $ | (7,328 | ) |  | $ | 3,822 |  |  | $ | 3,822 |  |  | $ | (6,928 | ) |  | $ | (6,928 | )
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 2,621 |  |  |  | 2,621 |  |  |  | 2,586 |  |  |  | 2,586 |  |  |  | 2,567 |  |  |  | 2,567 |
Class B common stock |  |  | 455 |  |  |  | 455 |  |  |  | 462 |  |  |  | 462 |  |  |  | 464 |  |  |  | 464 |
Undistributed (losses) income |  | $ | (10,404 | ) |  | $ | (10,404 | ) |  | $ | 774 |  |  | $ | 774 |  |  | $ | (9,959 | ) |  | $ | (9,959 | )
Common stock undistributed (losses) income |  | $ | (8,866 | ) |  | $ | (8,866 | ) |  | $ | 657 |  |  | $ | 657 |  |  | $ | (8,440 | ) |  | $ | (8,440 | )
Class B common stock undistributed (losses) income |  |  | (1,538 | ) |  |  | (1,538 | ) |  |  | 117 |  |  |  | 117 |  |  |  | (1,519 | ) |  |  | (1,519 | )
Total undistributed (losses) income |  | $ | (10,404 | ) |  | $ | (10,404 | ) |  | $ | 774 |  |  | $ | 774 |  |  | $ | (9,959 | ) |  | $ | (9,959 | )
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock weighted average shares |  |  | 10,923 |  |  |  | 10,923 |  |  |  | 10,765 |  |  |  | 10,765 |  |  |  | 10,705 |  |  |  | 10,705 |
Class B common stock weighted average shares, and shares under if-converted method for diluted EPS |  |  | 2,106 |  |  |  | 2,106 |  |  |  | 2,137 |  |  |  | 2,137 |  |  |  | 2,140 |  |  |  | 2,140 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive stock options |  |  |  |  |  |  | — |  |  |  |  |  |  |  | 59 |  |  |  |  |  |  |  | — |
Denominator for diluted EPS adjusted for weighted average shares and assumed conversions |  |  |  |  |  |  | 13,029 |  |  |  |  |  |  |  | 12,961 |  |  |  |  |  |  |  | 12,845 |
(Loss) income from continuing operations per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | (0.57 | ) |  | $ | (0.57 | ) |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | (0.55 | ) |  | $ | (0.55 | )
Class B common stock |  | $ | (0.51 | ) |  | $ | (0.51 | ) |  | $ | 0.16 |  |  | $ | 0.16 |  |  | $ | (0.49 | ) |  | $ | (0.49 | )
Income from discontinued operations per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | — |  |  | $ | — |  |  | $ | 0.12 |  |  | $ | 0.12 |  |  | $ | — |  |  | $ | — |
Class B common stock |  | $ | — |  |  | $ | — |  |  | $ | 0.11 |  |  | $ | 0.11 |  |  | $ | — |  |  | $ | — |
Net (loss) income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | (0.57 | ) |  | $ | (0.57 | ) |  | $ | 0.30 |  |  | $ | 0.30 |  |  | $ | (0.55 | ) |  | $ | (0.55 | )
Class B common stock |  | $ | (0.51 | ) |  | $ | (0.51 | ) |  | $ | 0.27 |  |  | $ | 0.27 |  |  | $ | (0.49 | ) |  | $ | (0.49 | )
Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for fiscal 2019, fiscal 2018 and fiscal 2017 were 882, 0 and 848, respectively.

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