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CALCULATION OF EARNINGS PER SHARE (Tables)
 3 Months Ended
Aug. 31, 2013
Earnings per share
The earnings per share (“EPS”) presented in our unaudited consolidated statements of comprehensive income (loss) are based on the following amounts (in thousands, except per share amounts):
 
For the Three Months Ended
 
August 31, 2013
 
September 1, 2012
 
Basic
 
Diluted
 
Basic
 
Diluted
 
 
 
 
 
 
 
 
Numerator for Basic and Diluted EPS:
 
 
 
 
 
 
 
          Income from continuing operations
$
1,979

 
$
1,979

 
$
734

 
$
734

          Less dividends:
 
 
 
 
 
 
 
              Common stock
723

 
723

 
758

 
758

              Class B common stock
134

 
134

 
156

 
156

          Undistributed earnings (losses)
$
1,122

 
$
1,122

 
$
(180
)
 
$
(180
)
          Common stock undistributed earnings (losses)
$
951

 
$
952

 
$
(149
)
 
$
(150
)
          Class B common stock undistributed earnings (losses)
171

 
170

 
(31
)
 
(30
)
          Total undistributed earnings (losses)
$
1,122

 
$
1,122

 
$
(180
)
 
$
(180
)
          Loss from discontinued operations
$
(11
)
 
$
(11
)
 
$
(87
)
 
$
(87
)
          Less dividends:
 
 
 
 
 
 
 
              Common stock
723

 
723

 
758

 
758

              Class B common stock
134

 
134

 
156

 
156

          Undistributed earnings (losses)
$
(868
)
 
$
(868
)
 
$
(1,001
)
 
$
(1,001
)
          Common stock undistributed earnings (losses)
$
(735
)
 
$
(737
)
 
$
(831
)
 
$
(832
)
          Class B common stock undistributed earnings (losses)
(133
)
 
(131
)
 
(170
)
 
(169
)
          Total undistributed earnings (losses)
$
(868
)
 
$
(868
)
 
$
(1,001
)
 
$
(1,001
)
          Net income
$
1,968

 
$
1,968

 
$
647

 
$
647

          Less dividends:
 
 
 
 
 
 
 
             Common stock
723

 
723

 
758

 
758

             Class B common stock
134

 
134

 
156

 
156

          Undistributed earnings (losses)
$
1,111

 
$
1,111

 
$
(267
)
 
$
(267
)
          Common stock undistributed earnings (losses)
$
941

 
$
943

 
$
(222
)
 
$
(222
)
          Class B common stock undistributed earnings (losses)
170

 
168

 
(45
)
 
(45
)
          Total undistributed earnings (losses)
$
1,111

 
$
1,111

 
$
(267
)
 
$
(267
)
Denominator for basic and diluted EPS:
 
 
 
 
 
 
 
          Common stock weighted average shares
12,127

 
12,127

 
12,772

 
12,772

Class B common stock weighted average shares,
and shares under if-converted method for
diluted EPS
2,428

 
2,428

 
2,913

 
2,913

           Effect of dilutive stock options
 
 
133

 
 
 
102

Denominator for diluted EPS adjusted for weighted average shares and assumed conversions
 
 
14,688

 
 
 
15,787

Income from continuing operations per share:
 
 
 
 
 
 
 
Common stock
$
0.14

 
$
0.13

 
$
0.05

 
$
0.05

Class B common stock
$
0.13

 
$
0.13

 
$
0.04

 
$
0.04

Loss from discontinued operations per share:
 
 
 
 
 
 
 
Common stock
$
—

 
$
—

 
$
(0.01
)
 
$
(0.01
)
Class B common stock
$
—

 
$
—

 
—

 
—

Net income per share:
 
 
 
 
 
 
 
Common stock
$
0.14

 
$
0.13

 
$
0.04

 
$
0.04

Class B common stock
$
0.13

 
$
0.13

 
$
0.04

 
$
0.04


Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first quarter of fiscal 2014 and fiscal 2013 were 462,464 and 268,564, respectively.