Richardson Electronics, Ltd.
Consolidated Statements of Comprehensive Income (Loss)
(in thousands, except per share amounts)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||
|
June 2,
2018 |
May 27,
2017 |
June 2,
2018 |
May 27,
2017 | ||||||||||||||||
| Statements of Comprehensive Income (Loss) | |||||||||||||||||||
| Net sales | $ | 45,490 | $ | 37,359 | $ | 163,212 | $ | 136,872 | |||||||||||
| Cost of sales | 29,997 | 25,372 | 108,130 | 92,989 | |||||||||||||||
| Gross profit | 15,493 | 11,987 | 55,082 | 43,883 | |||||||||||||||
| Selling, general and administrative expenses | 13,706 | 12,157 | 51,729 | 49,854 | |||||||||||||||
| Gain on disposal of business | — | (209 | ) | — | (209 | ) | |||||||||||||
| Gain on disposal of assets | (88 | ) | — | (276 | ) | — | |||||||||||||
| Operating income (loss) | 1,875 | 39 | 3,629 | (5,762 | ) | ||||||||||||||
| Other (income) expense: | |||||||||||||||||||
| Investment/interest income | (54 | ) | (105 | ) | (432 | ) | (234 | ) | |||||||||||
| Foreign exchange (gain) loss | (251 | ) | 301 | 224 | 612 | ||||||||||||||
| Other, net | (9 | ) | (24 | ) | (23 | ) | (24 | ) | |||||||||||
| Total other (income) expense | (314 | ) | 172 | (231 | ) | 354 | |||||||||||||
| Income (loss) from continuing operations before income taxes | 2,189 | (133 | ) | 3,860 | (6,116 | ) | |||||||||||||
| Income tax provision (benefit) | 450 | (8 | ) | 1,534 | 812 | ||||||||||||||
| Income (loss) from continuing operations | 1,739 | (125 | ) | 2,326 | (6,928 | ) | |||||||||||||
| Income from discontinued operations | — | — | 1,496 | — | |||||||||||||||
| Net income (loss) | 1,739 | (125 | ) | 3,822 | (6,928 | ) | |||||||||||||
| Foreign currency translation gain (loss), net of tax | (2,417 | ) | 1,826 | 1,580 | 90 | ||||||||||||||
| Fair value adjustments on investments gain (loss) | — | 14 | (130 | ) | 54 | ||||||||||||||
| Comprehensive (loss) income | $ | (678 | ) | $ | 1,715 | $ | 5,272 | $ | (6,784 | ) | |||||||||
| Net income (loss) per Common share - Basic: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 0.14 | $ | (0.01 | ) | $ | 0.18 | $ | (0.55 | ) | |||||||||
| Income from discontinued operations | — | — | 0.12 | — | |||||||||||||||
| Total net income (loss) per Common share - Basic: | $ | 0.14 | $ | (0.01 | ) | $ | 0.30 | $ | (0.55 | ) | |||||||||
| Net income (loss) per Class B common share - Basic: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 0.12 | $ | (0.01 | ) | $ | 0.16 | $ | (0.49 | ) | |||||||||
| Income from discontinued operations | — | — | 0.11 | — | |||||||||||||||
| Total net income (loss) per Class B common share - Basic: | $ | 0.12 | $ | (0.01 | ) | $ | 0.27 | $ | (0.49 | ) | |||||||||
| Net income (loss) per Common share - Diluted: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 0.14 | $ | (0.01 | ) | $ | 0.18 | $ | (0.55 | ) | |||||||||
| Income from discontinued operations | — | — | 0.12 | — | |||||||||||||||
| Total income (loss) per Common share - Diluted: | $ | 0.14 | $ | (0.01 | ) | $ | 0.30 | $ | (0.55 | ) | |||||||||
| Net income (loss) per Class B common share - Diluted: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 0.12 | $ | (0.01 | ) | $ | 0.16 | $ | (0.49 | ) | |||||||||
| Income from discontinued operations | — | — | 0.11 | — | |||||||||||||||
| Total net income (loss) per Class B common share - Diluted: | $ | 0.12 | $ | (0.01 | ) | $ | 0.27 | $ | (0.49 | ) | |||||||||
| Weighted average number of shares: | |||||||||||||||||||
| Common shares – Basic | 10,800 | 10,709 | 10,765 | 10,705 | |||||||||||||||
| Class B common shares – Basic | 2,137 | 2,140 | 2,137 | 2,140 | |||||||||||||||
| Common shares – Diluted | 10,930 | 10,709 | 10,824 | 10,705 | |||||||||||||||
| Class B common shares – Diluted | 2,137 | 2,140 | 2,137 | 2,140 | |||||||||||||||
| Dividends per common share | $ | 0.060 | $ | 0.060 | $ | 0.240 | $ | 0.240 | |||||||||||
| Dividends per Class B common share | $ | 0.054 | $ | 0.054 | $ | 0.220 | $ | 0.220 | |||||||||||
