Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Comprehensive Loss
(in thousands, except per share amounts)
| Three Months Ended | Six Months Ended | ||||||||||||
| November 30, 2019 | December 1, 2018 | November 30, 2019 | December 1, 2018 | ||||||||||
| Statements of Comprehensive Loss | |||||||||||||
| Net sales | $ | 39,634 | $ | 41,314 | $ | 80,287 | $ | 85,471 | |||||
| Cost of sales | 26,954 | 28,343 | 54,656 | 58,547 | |||||||||
| Gross profit | 12,680 | 12,971 | 25,631 | 26,924 | |||||||||
| Selling, general and administrative expenses | 13,161 | 13,425 | 26,008 | 26,524 | |||||||||
| Loss on disposal of assets | — | — | 1 | — | |||||||||
| Operating (loss) income | (481 | ) | (454 | ) | (378 | ) | 400 | ||||||
| Other expense (income): | |||||||||||||
| Investment/interest income | (123 | ) | (121 | ) | (243 | ) | (247 | ) | |||||
| Foreign exchange loss (gain) | 199 | (211 | ) | 89 | 75 | ||||||||
| Other, net | (15 | ) | 4 | (16 | ) | (4 | ) | ||||||
| Total other expense (income) | 61 | (328 | ) | (170 | ) | (176 | ) | ||||||
| (Loss) income before income taxes | (542 | ) | (126 | ) | (208 | ) | 576 | ||||||
| Income tax provision | 80 | 178 | 257 | 449 | |||||||||
| Net (loss) income | (622 | ) | (304 | ) | (465 | ) | 127 | ||||||
| Foreign currency translation gain (loss), net of tax | 222 | (1,041 | ) | (494 | ) | (1,781 | ) | ||||||
| Comprehensive loss | $ | (400 | ) | $ | (1,345 | ) | $ | (959 | ) | $ | (1,654 | ) | |
| Net (loss) income per share | |||||||||||||
| Common shares - Basic | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | 0.01 | ||
| Class B common shares - Basic | $ | (0.04 | ) | $ | (0.02 | ) | $ | (0.03 | ) | $ | 0.01 | ||
| Common shares - Diluted | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | 0.01 | ||
| Class B common shares - Diluted | $ | (0.04 | ) | $ | (0.02 | ) | $ | (0.03 | ) | $ | 0.01 | ||
| Weighted average number of shares: | |||||||||||||
| Common shares – Basic | 11,038 | 10,952 | 11,014 | 10,890 | |||||||||
| Class B common shares – Basic | 2,097 | 2,097 | 2,097 | 2,114 | |||||||||
| Common shares – Diluted | 11,038 | 10,952 | 11,014 | 11,053 | |||||||||
| Class B common shares – Diluted | 2,097 | 2,097 | 2,097 | 2,114 | |||||||||
| Dividends per common share | $ | 0.06 | $ | 0.06 | $ | 0.12 | $ | 0.12 | |||||
| Dividends per Class B common share | $ | 0.054 | $ | 0.054 | $ | 0.108 | $ | 0.108 | |||||
