DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Aug. 30, 2014

Summary financial results for the three months ended August 30, 2014, and August 31, 2013, are presented in the following table (in thousands):



	Three Months Ended
	August 30, 2014		August 31, 2013
Net sales	$	—	$	86
Gross profit (loss)⁽¹⁾	—		(49		)
Selling, general, and administrative expenses ⁽²⁾	—		32
Income tax provision (benefit)	—		(70		)
Loss from discontinued operations, net of tax	$	—	$	(11	)

Notes:

(1) Gross profit (loss) for fiscal year 2014 includes unabsorbed manufacturing labor and overhead expenses related to the Manufacturing Agreement with RFPD which ended March 1, 2014.

(2) Selling, General, and Administrative expenses relate primarily to professional fees for tax audits resulting from the Transaction.

Assets and liabilities classified as discontinued operations

Assets and liabilities classified as discontinued operations on our consolidated balance sheets as of August 30, 2014, and May 31, 2014, include the following (in thousands):



	August 30, 2014		May 31, 2014
Inventories	$	—	$	18
Discontinued operations - Assets	$	—	$	18

Accrued liabilities - current	$	—	$	7
Accrued liabilities - non-current ⁽¹⁾	126		130
Discontinued operations - Liabilities	$	126	$	137

(1) Included in accrued liabilities - non-current is a reserve for an income tax liability due to an ongoing audit.