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Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Comprehensive Income (in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| March 2, 2024 | February 25, 2023 | March 2, 2024 | February 25, 2023 | |||||||||||||
| Net sales | $ | 52,375 | $ | 70,364 | $ | 149,086 | $ | 203,826 | ||||||||
| Cost of sales | 36,939 | 47,959 | 103,844 | 136,543 | ||||||||||||
| Gross profit | 15,436 | 22,405 | 45,242 | 67,283 | ||||||||||||
| Selling, general and administrative expenses | 14,430 | 14,779 | 44,710 | 43,704 | ||||||||||||
| Loss (gain) on disposal of assets | — | 13 | 70 | (12 | ) | |||||||||||
| Operating income | 1,006 | 7,613 | 462 | 23,591 | ||||||||||||
| Other expense (income): | ||||||||||||||||
| Investment/interest income | (67 | ) | (76 | ) | (224 | ) | (179 | ) | ||||||||
| Foreign exchange loss (gain) | 101 | (292 | ) | 347 | 305 | |||||||||||
| Other, net | (7 | ) | (14 | ) | 43 | (29 | ) | |||||||||
| Total other expense (income) | 27 | (382 | ) | 166 | 97 | |||||||||||
| Income before income taxes | 979 | 7,995 | 296 | 23,494 | ||||||||||||
| Income tax provision | 229 | 1,655 | 116 | 5,281 | ||||||||||||
| Net income | 750 | 6,340 | 180 | 18,213 | ||||||||||||
| Foreign currency translation (loss) gain, net of tax | (205 | ) | 629 | 385 | (710 | ) | ||||||||||
| Comprehensive income | $ | 545 | $ | 6,969 | $ | 565 | $ | 17,503 | ||||||||
| Net income per share: | ||||||||||||||||
| Common shares - Basic | $ | 0.05 | $ | 0.46 | $ | 0.01 | $ | 1.33 | ||||||||
| Class B common shares - Basic | 0.05 | 0.41 | 0.01 | 1.19 | ||||||||||||
| Common shares - Diluted | 0.05 | 0.44 | 0.01 | 1.27 | ||||||||||||
| Class B common shares - Diluted | 0.05 | 0.40 | 0.01 | 1.15 | ||||||||||||
| Weighted average number of shares: | ||||||||||||||||
| Common shares – Basic | 12,227 | 12,047 | 12,208 | 11,893 | ||||||||||||
| Class B common shares – Basic | 2,052 | 2,052 | 2,052 | 2,053 | ||||||||||||
| Common shares – Diluted | 12,445 | 12,666 | 12,480 | 12,524 | ||||||||||||
| Class B common shares – Diluted | 2,052 | 2,052 | 2,052 | 2,053 | ||||||||||||
| Dividends per share: | ||||||||||||||||
| Common share | $ | 0.060 | $ | 0.060 | $ | 0.180 | $ | 0.180 | ||||||||
| Class B common share | 0.054 | 0.054 | 0.162 | 0.162 | ||||||||||||
