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CALCULATION OF EARNINGS PER SHARE (Tables)
 6 Months Ended
Nov. 29, 2014
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
 
November 29, 2014
 
November 30, 2013
 
Basic
 
Diluted
 
Basic
 
Diluted
 
 
 
 
 
 
 
 
Numerator for Basic and Diluted EPS:
 
 
 
 
 
 
 
          Income (loss) from continuing operations
$
(1,144
)
 
$
(1,144
)
 
$
631

 
$
631

          Less dividends:
 
 
 
 
 
 
 
              Common stock
701

 
701

 
710

 
710

              Class B common stock
116

 
116

 
118

 
118

          Undistributed losses
$
(1,961
)
 
$
(1,961
)
 
$
(197
)
 
$
(197
)
          Common stock undistributed losses
$
(1,685
)
 
$
(1,685
)
 
$
(169
)
 
$
(169
)
          Class B common stock undistributed losses
(276
)
 
(276
)
 
(28
)
 
(28
)
          Total undistributed losses
$
(1,961
)
 
$
(1,961
)
 
$
(197
)
 
$
(197
)
          Income (loss) from discontinued operations
$
87

 
$
87

 
$
(107
)
 
$
(107
)
          Less dividends:
 
 
 
 
 
 
 
              Common stock
701

 
701

 
710

 
710

              Class B common stock
116

 
116

 
118

 
118

          Undistributed losses
$
(730
)
 
$
(730
)
 
$
(935
)
 
$
(935
)
          Common stock undistributed losses
$
(627
)
 
$
(627
)
 
$
(802
)
 
$
(803
)
          Class B common stock undistributed losses
(103
)
 
(103
)
 
(133
)
 
(132
)
          Total undistributed losses
$
(730
)
 
$
(730
)
 
$
(935
)
 
$
(935
)
          Net income (loss)
$
(1,057
)
 
$
(1,057
)
 
$
524

 
$
524

          Less dividends:
 
 
 
 
 
 
 
             Common stock
701

 
701

 
710

 
710

             Class B common stock
116

 
116

 
118

 
118

          Undistributed losses
$
(1,874
)
 
$
(1,874
)
 
$
(304
)
 
$
(304
)
          Common stock undistributed losses
$
(1,610
)
 
$
(1,610
)
 
$
(261
)
 
$
(261
)
          Class B common stock undistributed losses
(264
)
 
(264
)
 
(43
)
 
(43
)
          Total undistributed losses
$
(1,874
)
 
$
(1,874
)
 
$
(304
)
 
$
(304
)
Denominator for basic and diluted EPS:
 
 
 
 
 
 
 
          Common stock weighted average shares
11,770

 
11,770

 
11,871

 
11,871

Class B common stock weighted average shares,
and shares under if-converted method for
diluted EPS
2,141

 
2,141

 
2,191

 
2,191

           Effect of dilutive stock options
 
 
—

 
 
 
123

Denominator for diluted EPS adjusted for weighted average shares and assumed conversions
 
 
13,911

 
 
 
14,185

Income (loss) from continuing operations per share:
 
 
 
 
 
 
 
Common stock
$
(0.08
)
 
$
(0.08
)
 
$
0.05

 
$
0.04

Class B common stock
$
(0.07
)
 
$
(0.07
)
 
$
0.04

 
$
0.04

Income (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 (loss) per share:
 
 
 
 
 
 
 
Common stock
$
(0.07
)
 
$
(0.07
)
 
$
0.04

 
$
0.03

Class B common stock
$
(0.06
)
 
$
(0.06
)
 
$
0.03

 
$
0.03


Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the second quarter of fiscal 2015 and fiscal 2014 were 666,564 and 512,064, respectively.
 
Six Months Ended
 
November 29, 2014
 
November 30, 2013
 
Basic
 
Diluted
 
Basic
 
Diluted
 

 

 

 

Numerator for Basic and Diluted EPS:

 

 

 

          Income (loss) from continuing operations
$
(1,227
)
 
$
(1,227
)
 
$
2,610

 
$
2,610

          Less dividends:

 

 
 
 
 
              Common stock
1,411

 
1,411

 
1,433

 
1,433

              Class B common stock
234

 
234

 
252

 
252

          Undistributed earnings (losses)
$
(2,872
)
 
$
(2,872
)
 
$
925

 
$
925

          Common stock undistributed earnings (losses)
$
(2,466
)
 
$
(2,466
)
 
$
788

 
$
790

          Class B common stock undistributed earnings (losses)
(406
)
 
(406
)
 
137

 
135

          Total undistributed earnings (losses)
$
(2,872
)
 
$
(2,872
)
 
$
925

 
$
925

          Income (loss) from discontinued operations
$
87

 
$
87

 
$
(118
)
 
$
(118
)
          Less dividends:

 

 
 
 
 
              Common stock
1,411

 
1,411

 
1,433

 
1,433

              Class B common stock
234

 
234

 
252

 
252

          Undistributed losses
$
(1,558
)
 
$
(1,558
)
 
$
(1,803
)
 
$
(1,803
)
          Common stock undistributed losses
$
(1,337
)
 
$
(1,337
)
 
$
(1,537
)
 
$
(1,539
)
          Class B common stock undistributed losses
(221
)
 
(221
)
 
(266
)
 
(264
)
          Total undistributed losses
$
(1,558
)
 
$
(1,558
)
 
$
(1,803
)
 
$
(1,803
)
          Net income (loss)
$
(1,140
)
 
$
(1,140
)
 
$
2,492

 
$
2,492

          Less dividends:

 

 
 
 
 
             Common stock
1,411

 
1,411

 
1,433

 
1,433

             Class B common stock
234

 
234

 
252

 
252

          Undistributed earnings (losses)
$
(2,785
)
 
$
(2,785
)
 
$
807

 
$
807

          Common stock undistributed earnings (losses)
$
(2,391
)
 
$
(2,391
)
 
$
688

 
$
689

          Class B common stock undistributed earnings (losses)
(394
)
 
(394
)
 
119

 
118

          Total undistributed earnings (losses)
$
(2,785
)
 
$
(2,785
)
 
$
807

 
$
807

Denominator for basic and diluted EPS:

 

 
 
 
 
          Common stock weighted average shares
11,797

 
11,797

 
11,997

 
11,997

Class B common stock weighted average shares,
and shares under if-converted method for
diluted EPS
2,161

 
2,161

 
2,309

 
2,309

           Effect of dilutive securities Dilutive stock options

 
—

 
 
 
127

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

 
13,958

 
 
 
14,433

Income (loss) from continuing operations per share:

 

 
 
 
 
Common stock
$
(0.09
)
 
$
(0.09
)
 
$
0.19

 
$
0.18

Class B common stock
$
(0.08
)
 
$
(0.08
)
 
$
0.17

 
$
0.17

Income (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 (loss) per share:

 

 
 
 
 
Common stock
$
(0.08
)
 
$
(0.08
)
 
$
0.18

 
$
0.17

Class B common stock
$
(0.07
)
 
$
(0.07
)
 
$
0.16

 
$
0.16

Note: Common stock options that were anti-dilutive and not included in diluted earnings per common share for the first six months of fiscal 2015 and fiscal 2014 were 661,564 and 487,064, respectively.