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CALCULATION OF EARNINGS PER SHARE (Tables)
 3 Months Ended 6 Months Ended
Nov. 30, 2013
Nov. 30, 2013
Earnings per share
The earnings per share (“EPS”) presented in our unaudited consolidated statements of comprehensive income are based on the following amounts (in thousands, except per share amounts):
 
For the Three Months Ended
 
November 30, 2013
 
December 1, 2012
 
Basic
 
Diluted
 
Basic
 
Diluted
 
 
 
 
 
 
 
 
Numerator for Basic and Diluted EPS:
 
 
 
 
 
 
 
          Income from continuing operations
$
631

 
$
631

 
$
581

 
$
581

          Less dividends:
 
 
 
 
 
 
 
              Common stock
710

 
710

 
737

 
737

              Class B common stock
118

 
118

 
148

 
148

          Undistributed losses
$
(197
)
 
$
(197
)
 
$
(304
)
 
$
(304
)
          Common stock undistributed losses
$
(169
)
 
$
(169
)
 
$
(253
)
 
$
(253
)
          Class B common stock undistributed losses
(28
)
 
(28
)
 
(51
)
 
(51
)
          Total undistributed losses
$
(197
)
 
$
(197
)
 
$
(304
)
 
$
(304
)
          Loss from discontinued operations
$
(107
)
 
$
(107
)
 
$
(203
)
 
$
(203
)
          Less dividends:
 
 
 
 
 
 
 
              Common stock
710

 
710

 
737

 
737

              Class B common stock
118

 
118

 
148

 
148

          Undistributed losses
$
(935
)
 
$
(935
)
 
$
(1,088
)
 
$
(1,088
)
          Common stock undistributed losses
$
(802
)
 
$
(803
)
 
$
(904
)
 
$
(905
)
          Class B common stock undistributed losses
(133
)
 
(132
)
 
(184
)
 
(183
)
          Total undistributed losses
$
(935
)
 
$
(935
)
 
$
(1,088
)
 
$
(1,088
)
          Net income
$
524

 
$
524

 
$
378

 
$
378

          Less dividends:
 
 
 
 
 
 
 
             Common stock
710

 
710

 
737

 
737

             Class B common stock
118

 
118

 
148

 
148

          Undistributed losses
$
(304
)
 
$
(304
)
 
$
(507
)
 
$
(507
)
          Common stock undistributed losses
$
(261
)
 
$
(261
)
 
$
(421
)
 
$
(422
)
          Class B common stock undistributed losses
(43
)
 
(43
)
 
(86
)
 
(85
)
          Total undistributed losses
$
(304
)
 
$
(304
)
 
$
(507
)
 
$
(507
)
Denominator for basic and diluted EPS:
 
 
 
 
 
 
 
          Common stock weighted average shares
11,871

 
11,871

 
12,437

 
12,437

Class B common stock weighted average shares,
and shares under if-converted method for
diluted EPS
2,191

 
2,191

 
2,812

 
2,812

           Effect of dilutive stock options
 
 
123

 
 
 
96

Denominator for diluted EPS adjusted for weighted average shares and assumed conversions
 
 
14,185

 
 
 
15,345

Income from continuing operations per share:
 
 
 
 
 
 
 
Common stock
$
0.05

 
$
0.04

 
$
0.04

 
$
0.04

Class B common stock
$
0.04

 
$
0.04

 
$
0.03

 
$
0.03

Loss from discontinued operations per share:
 
 
 
 
 
 
 
Common stock
$
(0.01
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.01
)
Class B common stock
$
(0.01
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.01
)
Net income per share:
 
 
 
 
 
 
 
Common stock
$
0.04

 
$
0.03

 
$
0.03

 
$
0.03

Class B common stock
$
0.03

 
$
0.03

 
$
0.02

 
$
0.02


Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the second quarter of fiscal 2014 and fiscal 2013 were 512,064 and 477,064, respectively.
 
Six Months Ended
 
November 30, 2013
 
December 1, 2012
 
Basic
 
Diluted
 
Basic
 
Diluted
 

 

 

 

Numerator for Basic and Diluted EPS:

 

 

 

          Income from continuing operations
$
2,610

 
$
2,610

 
$
1,315

 
$
1,315

          Less dividends:

 

 

 

              Common stock
1,433

 
1,433

 
1,495

 
1,495

              Class B common stock
252

 
252

 
304

 
304

          Undistributed earnings (losses)
$
925

 
$
925

 
$
(484
)
 
$
(484
)
          Common stock undistributed earnings (losses)
$
788

 
$
790

 
$
(402
)
 
$
(402
)
          Class B common stock undistributed earnings (losses)
137

 
135

 
(82
)
 
(82
)
          Total undistributed earnings (losses)
$
925

 
$
925

 
$
(484
)
 
$
(484
)
          Loss from discontinued operations
$
(118
)
 
$
(118
)
 
$
(290
)
 
$
(290
)
          Less dividends:

 

 

 

              Common stock
1,433

 
1,433

 
1,495

 
1,495

              Class B common stock
252

 
252

 
304

 
304

          Undistributed losses
$
(1,803
)
 
$
(1,803
)
 
$
(2,089
)
 
$
(2,089
)
          Common stock undistributed losses
$
(1,537
)
 
$
(1,539
)
 
$
(1,734
)
 
$
(1,737
)
          Class B common stock undistributed losses
(266
)
 
(264
)
 
(355
)
 
(352
)
          Total undistributed losses
$
(1,803
)
 
$
(1,803
)
 
$
(2,089
)
 
$
(2,089
)
          Net income
$
2,492

 
$
2,492

 
$
1,025

 
$
1,025

          Less dividends:

 

 

 

             Common stock
1,433

 
1,433

 
1,495

 
1,495

             Class B common stock
252

 
252

 
304

 
304

          Undistributed earnings (losses)
$
807

 
$
807

 
$
(774
)
 
$
(774
)
          Common stock undistributed earnings (losses)
$
688

 
$
689

 
$
(643
)
 
$
(643
)
          Class B common stock undistributed earnings (losses)
119

 
118

 
(131
)
 
(131
)
          Total undistributed earnings (losses)
$
807

 
$
807

 
$
(774
)
 
$
(774
)
Denominator for basic and diluted EPS:

 

 

 

          Common stock weighted average shares
11,997

 
11,997

 
12,604

 
12,604

Class B common stock weighted average shares,
and shares under if-converted method for
diluted EPS
2,309

 
2,309

 
2,863

 
2,863

           Effect of dilutive securities Dilutive stock options

 
127

 

 
100

Denominator for diluted EPS adjusted for weighted average shares and assumed conversions

 
14,433

 

 
15,567

Income from continuing operations per share:

 

 

 

Common stock
$
0.19

 
$
0.18

 
$
0.09

 
$
0.08

Class B common stock
$
0.17

 
$
0.17

 
$
0.08

 
$
0.08

Loss from discontinued operations per share:

 

 

 

Common stock
$
(0.01
)
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.02
)
Class B common stock
$
(0.01
)
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.02
)
Net income per share:


 

 

 

Common stock
$
0.18

 
$
0.17

 
$
0.07

 
$
0.06

Class B common stock
$
0.16

 
$
0.16

 
$
0.06

 
$
0.06

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first six months of fiscal 2014 and fiscal 2013 were 487,064 and 267,564, respectively.