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Calculation of Earnings Per Share (Tables) | 9 Months Ended
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Mar. 02, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The earnings per share (“EPS”) presented in our unaudited consolidated statements of comprehensive income was based on the following amounts (in thousands, except per share amounts):
|  | Three Months Ended |
|  | March 2, 2024 |  |  | February 25, 2023 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 750 |  |  | $ | 750 |  |  | $ | 6,340 |  |  | $ | 6,340 |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 733 |  |  |  | 733 |  |  |  | 724 |  |  |  | 724 |
Class B common stock |  |  | 111 |  |  |  | 111 |  |  |  | 110 |  |  |  | 110 |
Undistributed (loss) earnings |  | $ | (94 | ) |  | $ | (94 | ) |  | $ | 5,506 |  |  | $ | 5,506 |
Common stock undistributed (loss) earnings |  | $ | (82 | ) |  | $ | (82 | ) |  | $ | 4,774 |  |  | $ | 4,805 |
Class B common stock undistributed (loss) earnings |  |  | (12 | ) |  |  | (12 | ) |  |  | 732 |  |  |  | 701 |
Total undistributed (loss) earnings |  | $ | (94 | ) |  | $ | (94 | ) |  | $ | 5,506 |  |  | $ | 5,506 |
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Common stock weighted average shares |  |  | 12,227 |  |  |  | 12,227 |  |  |  | 12,047 |  |  |  | 12,047 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Dilutive stock options |  |  |  |  |  | 218 |  |  |  |  |  |  | 619 |
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion |  |  |  |  |  | 12,445 |  |  |  |  |  |  | 12,666 |
Class B common stock weighted average shares and shares under if-converted method for diluted EPS |  |  | 2,052 |  |  |  | 2,052 |  |  |  | 2,052 |  |  |  | 2,052 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.46 |  |  | $ | 0.44 |
Class B common stock |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.41 |  |  | $ | 0.40 |
Note: There were no common stock options that were antidilutive in the third quarter of fiscal 2024 and fiscal 2023.
|  | Nine Months Ended |
|  | March 2, 2024 |  |  | February 25, 2023 |
|  | Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 180 |  |  | $ | 180 |  |  | $ | 18,213 |  |  | $ | 18,213 |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 2,199 |  |  |  | 2,199 |  |  |  | 2,152 |  |  |  | 2,152 |
Class B common stock |  |  | 333 |  |  |  | 333 |  |  |  | 332 |  |  |  | 332 |
Undistributed (loss) earnings |  | $ | (2,352 | ) |  | $ | (2,352 | ) |  | $ | 15,729 |  |  | $ | 15,729 |
Common stock undistributed (loss) earnings |  | $ | (2,043 | ) |  | $ | (2,049 | ) |  | $ | 13,614 |  |  | $ | 13,707 |
Class B common stock undistributed (loss) earnings |  |  | (309 | ) |  |  | (303 | ) |  |  | 2,115 |  |  |  | 2,022 |
Total undistributed (loss) earnings |  | $ | (2,352 | ) |  | $ | (2,352 | ) |  | $ | 15,729 |  |  | $ | 15,729 |
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Common stock weighted average shares |  |  | 12,208 |  |  |  | 12,208 |  |  |  | 11,893 |  |  |  | 11,893 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |
Dilutive stock options |  |  |  |  |  | 272 |  |  |  |  |  |  | 631 |
Denominator for diluted EPS adjusted for weighted average shares and assumed conversion |  |  |  |  |  | 12,480 |  |  |  |  |  |  | 12,524 |
Class B common stock weighted average shares and shares under if-converted method for diluted EPS |  |  | 2,052 |  |  |  | 2,052 |  |  |  | 2,053 |  |  |  | 2,053 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 0.01 |  |  | $ | 0.01 |  |  | $ | 1.33 |  |  | $ | 1.27 |
Class B common stock |  | $ | 0.01 |  |  | $ | 0.01 |  |  | $ | 1.19 |  |  | $ | 1.15 |
Note: There were no common stock options that were antidilutive in the first nine months of fiscal 2024 and fiscal 2023.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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