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Richardson Electronics, Ltd.
Unaudited Reconciliation Between GAAP and Non-GAAP Financial Measures For the Fourth Quarter and Fiscal 2024 and 2023 (in thousands, except per share amounts) | |||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| June 1, 2024 | May 27, 2023 | June 1, 2024 | May 27, 2023 | ||||||||||||
| (Loss) income before income taxes | $ | (139 | ) | $ | 1,536 | $ | 157 | $ | 25,030 | ||||||
| Income tax (benefit) provision reconciliation | |||||||||||||||
| Income tax (benefit) provision | $ | (20 | ) | $ | (2,584 | ) | $ | 96 | $ | 2,697 | |||||
| Prior years' R&D credit | 462 | 580 | 462 | 580 | |||||||||||
| Valuation allowance adjustment | (861 | ) | 1,755 | (861 | ) | 1,755 | |||||||||
| Non-GAAP income tax (benefit) provision | $ | (419 | ) | $ | (249 | ) | $ | (303 | ) | $ | 5,032 | ||||
| Net income (loss) reconciliation | |||||||||||||||
| Net (loss) income | $ | (119 | ) | $ | 4,120 | $ | 61 | $ | 22,333 | ||||||
| Prior years' R&D credit | 462 | 580 | 462 | 580 | |||||||||||
| Valuation allowance adjustment | (861 | ) | 1,755 | (861 | ) | 1,755 | |||||||||
| Non-GAAP net income | $ | 280 | $ | 1,785 | $ | 460 | $ | 19,998 | |||||||
| Net income (loss) per share (diluted) reconciliation | |||||||||||||||
| Net (loss) income per share (diluted) | $ | (0.01 | ) | $ | 0.27 | $ | 0.00 | $ | 1.55 | ||||||
| VA adjustment and prior years' R&D credit | 0.03 | (0.16 | ) | 0.03 | (0.16 | ) | |||||||||
| Non-GAAP net income per share (diluted) | $ | 0.02 | $ | 0.11 | $ | 0.03 | $ | 1.39 | |||||||
