(in thousands, except per share amounts)
| Three Months Ended | Nine Months Ended | |||||||||||||||
|
March 2,
2019 |
March 3,
2018 |
March 2,
2019 |
March 3,
2018 | |||||||||||||
| Statements of Comprehensive (Loss) Income | ||||||||||||||||
| Net sales | $ | 39,018 | $ | 41,645 | $ | 124,489 | $ | 117,722 | ||||||||
| Cost of sales | 26,719 | 27,578 | 85,266 | 78,133 | ||||||||||||
| Gross profit | 12,299 | 14,067 | 39,223 | 39,589 | ||||||||||||
| Selling, general and administrative expenses | 13,097 | 13,097 | 39,621 | 38,023 | ||||||||||||
| Loss (gain) on disposal of assets | — | 3 | — | (188 | ) | |||||||||||
| Operating (loss) income | (798 | ) | 967 | (398 | ) | 1,754 | ||||||||||
| Other (income) expense: | ||||||||||||||||
| Investment/interest income | (155 | ) | (208 | ) | (402 | ) | (378 | ) | ||||||||
| Foreign exchange loss | 130 | 159 | 205 | 475 | ||||||||||||
| Other, net | — | 1 | (4 | ) | (14 | ) | ||||||||||
| Total other (income) expense | (25 | ) | (48 | ) | (201 | ) | 83 | |||||||||
| (Loss) income from continuing operations before income taxes | (773 | ) | 1,015 | (197 | ) | 1,671 | ||||||||||
| Income tax provision | 305 | 488 | 754 | 1,084 | ||||||||||||
| (Loss) income from continuing operations | (1,078 | ) | 527 | (951 | ) | 587 | ||||||||||
| Income from discontinued operations | — | — | — | 1,496 | ||||||||||||
| Net (loss) income | (1,078 | ) | 527 | (951 | ) | 2,083 | ||||||||||
| Foreign currency translation gain (loss), net of tax | 541 | 1,646 | (1,240 | ) | 3,997 | |||||||||||
| Fair value adjustments on investments loss | — | (164 | ) | — | (130 | ) | ||||||||||
| Comprehensive (loss) income | $ | (537 | ) | $ | 2,009 | $ | (2,191 | ) | $ | 5,950 | ||||||
| Net (loss) income per Common share - Basic: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.05 | ||||||
| Income from discontinued operations | — | — | — | 0.12 | ||||||||||||
| Total net (loss) income per Common share - Basic | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.17 | ||||||
| Net (loss) income per Class B common share - Basic: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.04 | ||||||
| Income from discontinued operations | — | — | — | 0.11 | ||||||||||||
| Total net (loss) income per Class B common share - Basic | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.15 | ||||||
| Net (loss) income per Common share - Diluted: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.05 | ||||||
| Income from discontinued operations | — | — | — | 0.12 | ||||||||||||
| Total net (loss) income per Common share - Diluted | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.17 | ||||||
| Net (loss) income per Class B common share - Diluted: | ||||||||||||||||
| (Loss) income from continuing operations | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.04 | ||||||
| Income from discontinued operations | — | — | — | 0.11 | ||||||||||||
| Total net (loss) income per Class B common share - Diluted | $ | (0.08 | ) | $ | 0.04 | $ | (0.07 | ) | $ | 0.15 | ||||||
| Weighted average number of shares: | ||||||||||||||||
| Common shares – Basic | 10,953 | 10,792 | 10,911 | 10,753 | ||||||||||||
| Class B common shares – Basic | 2,097 | 2,137 | 2,108 | 2,137 | ||||||||||||
| Common shares – Diluted | 10,953 | 10,872 | 10,911 | 10,793 | ||||||||||||
| Class B common shares – Diluted | 2,097 | 2,137 | 2,108 | 2,137 | ||||||||||||
| Dividends per common share | $ | 0.060 | $ | 0.060 | $ | 0.180 | $ | 0.180 | ||||||||
| Dividends per Class B common share | $ | 0.054 | $ | 0.054 | $ | 0.162 | $ | 0.162 | ||||||||
Richardson Electronics, Ltd.
