BASIS OF PRESENTATION

12 Months Ended

May. 30, 2015

BASIS OF PRESENTATION

2. BASIS OF PRESENTATION

The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP for all fiscal years presented.

The consolidated financial statements include our wholly owned subsidiaries. All intercompany transactions and account balances have been eliminated in consolidation.

The fiscal 2013 statement of comprehensive income (loss) has been revised to correct a typographical error.  The previously reported Foreign currency translation and Fair value adjustment losses of $1.5 million and $30 thousand should have been reflected as gains of $1.5 million and $30 thousand, respectively.  As a result, fiscal 2013 comprehensive income has been revised to $2.8 million of income from the previously reported loss of $0.3 million.  The error had no impact on consolidated Balance Sheet, Statement of Stockholders Equity, or Statement of Cash Flows.

Our fiscal year 2015 began on June 1, 2014, and ended on May 30, 2015. Unless otherwise noted, all references to a particular year in this document shall mean our fiscal year.