| Richardson Electronics, Ltd. | ||||||||||||||||
| Consolidated Statements of Comprehensive (Loss) Income | ||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||||||
| June 1, 2019 | June 2, 2018 | June 1, 2019 | June 2, 2018 | |||||||||||||
| Statements of Comprehensive (Loss) Income | ||||||||||||||||
| Net sales | $ | 42,163 | $ | 45,490 | $ | 166,652 | $ | 163,212 | ||||||||
| Cost of sales | 29,651 | 29,997 | 114,917 | 108,130 | ||||||||||||
| Gross profit | 12,512 | 15,493 | 51,735 | 55,082 | ||||||||||||
| Selling, general and administrative expenses | 12,535 | 13,706 | 52,156 | 51,729 | ||||||||||||
| Impairment of goodwill | 6,332 | — | 6,332 | — | ||||||||||||
| Gain on disposal of business | — | (88 | ) | — | — | |||||||||||
| Loss (gain) on disposal of assets | 23 | — | 23 | (276 | ) | |||||||||||
| Operating (loss) income | (6,378 | ) | 1,875 | (6,776 | ) | 3,629 | ||||||||||
| Other (income) expense: | ||||||||||||||||
| Investment/interest income | (138 | ) | (54 | ) | (540 | ) | (432 | ) | ||||||||
| Foreign exchange (gain) loss | (121 | ) | (251 | ) | 84 | 224 | ||||||||||
| Other, net | (5 | ) | (9 | ) | (9 | ) | (23 | ) | ||||||||
| Total other income | (264 | ) | (314 | ) | (465 | ) | (231 | ) | ||||||||
| (Loss) income from continuing operations before income taxes | (6,114 | ) | 2,189 | (6,311 | ) | 3,860 | ||||||||||
| Income tax provision | 263 | 450 | 1,017 | 1,534 | ||||||||||||
| (Loss) income from continuing operations | (6,377 | ) | 1,739 | (7,328 | ) | 2,326 | ||||||||||
| Income from discontinued operations | — | — | — | 1,496 | ||||||||||||
| Net (loss) income | (6,377 | ) | 1,739 | (7,328 | ) | 3,822 | ||||||||||
| Foreign currency translation (loss) gain, net of tax | (736 | ) | (2,417 | ) | (1,976 | ) | 1,580 | |||||||||
| Fair value adjustments on investments (loss) gain | — | — | — | (130 | ) | |||||||||||
| Comprehensive (loss) income | $ | (7,113 | ) | $ | (678 | ) | $ | (9,304 | ) | $ | 5,272 | |||||
| Net (loss) income per Common share - Basic: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.50 | ) | $ | 0.14 | $ | (0.57 | ) | $ | 0.18 | ||||||
| Income from discontinued operations | — | — | — | 0.12 | ||||||||||||
| Total net (loss) income per Common share - Basic: | $ | (0.50 | ) | $ | 0.14 | $ | (0.57 | ) | $ | 0.30 | ||||||
| Net (loss) income per Class B common share - Basic: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.44 | ) | $ | 0.12 | $ | (0.51 | ) | $ | 0.16 | ||||||
| Income from discontinued operations | — | — | — | 0.11 | ||||||||||||
| Total net (loss) income per Class B common share - Basic: | $ | (0.44 | ) | $ | 0.12 | $ | (0.51 | ) | $ | 0.27 | ||||||
| Net (loss) income per Common share - Diluted: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.50 | ) | $ | 0.14 | $ | (0.57 | ) | $ | 0.18 | ||||||
| Income from discontinued operations | — | — | — | 0.12 | ||||||||||||
| Total (loss) income per Common share - Diluted: | $ | (0.50 | ) | $ | 0.14 | $ | (0.57 | ) | $ | 0.30 | ||||||
| Net (loss) income per Class B common share - Diluted: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.44 | ) | $ | 0.12 | $ | (0.51 | ) | $ | 0.16 | ||||||
| Income from discontinued operations | — | — | — | 0.11 | ||||||||||||
| Total net (loss) income per Class B common share - Diluted: | $ | (0.44 | ) | $ | 0.12 | $ | (0.51 | ) | $ | 0.27 | ||||||
| Weighted average number of shares: | ||||||||||||||||
| Common shares - Basic | 10,957 | 10,800 | 10,923 | 10,765 | ||||||||||||
| Class B common shares - Basic | 2,097 | 2,137 | 2,106 | 2,137 | ||||||||||||
| Common shares - Diluted | 10,957 | 10,930 | 10,923 | 10,824 | ||||||||||||
| Class B common shares - Diluted | 2,097 | 2,137 | 2,106 | 2,137 | ||||||||||||
| 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 and Fiscal 2019 Results and Declares Quarterly Cash Dividend
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