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Richardson Electronics, Ltd.
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Consolidated Statements of Comprehensive Income (Loss)
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(in thousands, except per share amounts)
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| Three Months Ended | Twelve Months Ended | |||||||||||||||
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May 27,
2017 |
May 28,
2016 |
May 27,
2017 |
May 28,
2016 | |||||||||||||
| Statements of Comprehensive Loss | ||||||||||||||||
| Net sales | $ | 37,359 | $ | 39,568 | $ | 136,872 | $ | 142,016 | ||||||||
| Cost of sales | 25,372 | 26,180 | 92,989 | 97,181 | ||||||||||||
| Gross profit | 11,987 | 13,388 | 43,883 | 44,835 | ||||||||||||
| Selling, general, and administrative expenses | 12,157 | 13,694 | 49,854 | 51,632 | ||||||||||||
| Gain on disposal of business | (209 | ) | — | (209 | ) | — | ||||||||||
| Gain on disposal of assets | — | — | — | (244 | ) | |||||||||||
| Operating income (loss) | 39 | (306 | ) | (5,762 | ) | (6,553 | ) | |||||||||
| Other (income) expense: | ||||||||||||||||
| Investment/interest income | (105 | ) | (129 | ) | (234 | ) | (562 | ) | ||||||||
| Foreign exchange loss | 301 | 104 | 612 | 212 | ||||||||||||
| Other, net | (24 | ) | 70 | (24 | ) | 17 | ||||||||||
| Total other (income) expense | 172 | 45 | 354 | (333 | ) | |||||||||||
| Loss from continuing operations before income taxes | (133 | ) | (351 | ) | (6,116 | ) | (6,220 | ) | ||||||||
| Income tax provision (benefit) | (8 | ) | (196 | ) | 812 | 546 | ||||||||||
| Net loss | (125 | ) | (155 | ) | (6,928 | ) | (6,766 | ) | ||||||||
| Foreign currency translation gain (loss), net of tax | 1,826 | 1,153 | 90 | (759 | ) | |||||||||||
| Fair value adjustments on investments gain (loss) | 14 | 35 | 54 | (44 | ) | |||||||||||
| Comprehensive income (loss) | $ | 1,715 | $ | 1,033 | $ | (6,784 | ) | $ | (7,569 | ) | ||||||
| Loss per Common share - Basic: | ||||||||||||||||
| Loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.55 | ) | $ | (0.53 | ) | ||||
| Loss from discontinued operations | — | — | — | — | ||||||||||||
| Total loss per Common share - Basic: | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.55 | ) | $ | (0.53 | ) | ||||
| Loss per Class B common share - Basic: | ||||||||||||||||
| Loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.49 | ) | $ | (0.47 | ) | ||||
| Loss from discontinued operations | — | — | — | — | ||||||||||||
| Total loss per Class B common share - Basic: | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.49 | ) | $ | (0.47 | ) | ||||
| Loss per Common share - Diluted: | ||||||||||||||||
| Loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.55 | ) | $ | (0.53 | ) | ||||
| Loss from discontinued operations | — | — | — | — | ||||||||||||
| Total loss per Common share - Diluted: | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.55 | ) | $ | (0.53 | ) | ||||
| Loss per Class B common share - Diluted: | ||||||||||||||||
| Loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.49 | ) | $ | (0.47 | ) | ||||
| Loss from discontinued operations | — | — | — | — | ||||||||||||
| Total loss per Class B common share - Diluted: | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.49 | ) | $ | (0.47 | ) | ||||
| Weighted average number of shares: | ||||||||||||||||
| Common shares – Basic | 10,709 | 10,703 | 10,705 | 10,908 | ||||||||||||
| Class B common shares – Basic | 2,140 | 2,141 | 2,140 | 2,141 | ||||||||||||
| Common shares – Diluted | 10,709 | 10,703 | 10,705 | 10,908 | ||||||||||||
| Class B common shares – Diluted | 2,140 | 2,141 | 2,140 | 2,141 | ||||||||||||
| 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 | ||||||||
Richardson Electronics Reports Fourth Quarter Fiscal 2017 Results and Declares Quarterly Cash Dividend
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