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Significant Accounting Policies and Disclosures (Tables)

12 Months Ended

May 29, 2021

Accounting Policies [Abstract]

Schedule of Contract Liabilities and Revenue Recognized

Contract Liabilities: Contract liabilities and revenue recognized were as follows (in thousands):

		May 30, 2020				Additions				Revenue Recognized				May 29, 2021
Contract liabilities (deferred revenue)		$	1,671			$	4,614			$	(2,972	)		$	3,313

Schedule of Property, Plant and Equipment

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

		May 29, 2021				May 30, 2020
Land and improvements		$	1,385			$	1,385
Buildings and improvements			22,837				22,525
Computer, communications equipment and software			11,029				10,775
Machinery and other equipment			14,930				14,326
Construction in progress			1,429				750
		$	51,610			$	49,761
Accumulated depreciation			(34,543	)			(32,087	)
Property, plant, and equipment, net		$	17,067			$	17,674

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):

		May 29, 2021				May 30, 2020
Compensation and payroll taxes		$	4,945			$	3,469
Accrued severance			685				650
Professional fees			533				471
Deferred revenue			3,313				1,671
Other accrued expenses			4,706				4,063
Accrued Liabilities		$	14,182			$	10,324

Schedule of Warranty Reserve

Changes in the warranty reserve during fiscal 2021 and fiscal 2020 were as follows (in thousands):

		Warranty Reserve
Balance at June 1, 2019		$	295
Accruals for products sold			201
Utilization			(30	)
Balance at May 30, 2020		$	466
Accruals for products sold			121
Utilization			(39	)
Balance at May 29, 2021		$	548

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 (1)
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
Granted			187				5.61
Exercised			(10	)			5.67
Cancelled			(114	)			6.87
Options Outstanding at May 30, 2020			1,427			$	8.83
Granted			188				4.26
Exercised			(49	)			5.93
Forfeited			(7	)			5.96
Cancelled			(104	)			12.53
Options Outstanding at May 29, 2021			1,455			$	8.08				5.5			$	2,114
Options Vested at May 29, 2021			950			$	9.11				4.2			$	833

(1) Includes only those options that were in-the-money as of May 29, 2021. Stock options for which the exercise price exceeded the market price have been omitted. Fluctuations in the intrinsic value of both outstanding and exercisable options may result from changes in underlying stock price and timing and volume of option grants, exercises and forfeitures.

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 29, 2021				May 30, 2020				June 1, 2019
Expected volatility			27.72	%			24.48	%			22.24	%
Risk-free interest rate			0.45	%			1.91	%			2.82	%
Expected lives (years)			6.50				6.50				6.36
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 29, 2021 (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
$4.26 to $6.47			566			$	5.26				7.6			$	1,866				220			$	5.65				6.4			$	638
$6.90 to $10.01			548			$	8.67				5.7			$	248				390			$	8.69				5.2			$	195
$11.14 to $13.76			341			$	11.82				1.6			$	—				340			$	11.82				1.6			$	—
Total			1,455			$	8.08				5.5			$	2,114				950			$	9.11				4.2			$	833

Schedule of Restricted Stock Award Transactions

As of May 29, 2021 a summary of restricted stock award transactions was as follows (in thousands):

		Unvested Restricted Shares
Unvested at June 1, 2019			116
Granted			73
Vested			(47	)
Unvested at May 30, 2020			142
Granted			73
Vested			(71	)
Unvested at May 29, 2021			144

Schedule of Earnings Per Share, Basic and Diluted

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

		For the Fiscal Year Ended
		May 29, 2021								May 30, 2020								June 1, 2019
		Basic				Diluted				Basic				Diluted				Basic				Diluted
Numerator for Basic and Diluted EPS:
Net income (loss)		$	1,655			$	1,655			$	(1,838	)		$	(1,838	)		$	(7,328	)		$	(7,328	)
Less dividends:
Common stock			2,669				2,669				2,648				2,648				2,621				2,621
Class B common stock			453				453				453				453				455				455
Undistributed losses		$	(1,467	)		$	(1,467	)		$	(4,939	)		$	(4,939	)		$	(10,404	)		$	(10,404	)
Common stock undistributed losses		$	(1,254	)		$	(1,255	)		$	(4,217	)		$	(4,217	)		$	(8,866	)		$	(8,866	)
Class B common stock undistributed losses			(213	)			(212	)			(722	)			(722	)			(1,538	)			(1,538	)
Total undistributed losses		$	(1,467	)		$	(1,467	)		$	(4,939	)		$	(4,939	)		$	(10,404	)		$	(10,404	)
Denominator for Basic and Diluted EPS:
Common stock weighted average shares			11,105				11,105				11,026				11,026				10,923				10,923
Effect of dilutive securities
Dilutive stock options							59								—								—
Denominator for diluted EPS adjusted for    weighted average shares and assumed    conversions							11,164								11,026								10,923
Class B common stock weighted average shares,    and shares under if-converted method for    diluted EPS			2,097				2,097				2,097				2,097				2,106				2,106
Net income (loss) per share:
Common stock		$	0.13			$	0.13			$	(0.14	)		$	(0.14	)		$	(0.57	)		$	(0.57	)
Class B common stock		$	0.11			$	0.11			$	(0.13	)		$	(0.13	)		$	(0.51	)		$	(0.51	)

Note: There were no common stock options that were anti-dilutive for fiscal 2021. For fiscal 2020 and fiscal 2019, the common stock options that were anti-dilutive and not included in diluted earnings per common share were 1,120 and 882, respectively.

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