Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Comprehensive Income
(in thousands, except per share amounts)
| Three Months Ended | Nine Months Ended | ||||||||||||||
| February 26, 2022 | February 27, 2021 | February 26, 2022 | February 27, 2021 | ||||||||||||
| Net sales | $ | 55,308 | $ | 45,235 | $ | 162,991 | $ | 126,465 | |||||||
| Cost of sales | 37,739 | 29,469 | 111,468 | 83,997 | |||||||||||
| Gross profit | 17,569 | 15,766 | 51,523 | 42,468 | |||||||||||
| Selling, general and administrative expenses | 13,946 | 15,457 | 40,550 | 41,924 | |||||||||||
| Loss (gain) on disposal of assets | — | (6 | ) | 2 | (6 | ) | |||||||||
| Operating income | 3,623 | 315 | 10,971 | 550 | |||||||||||
| Other expense (income): | |||||||||||||||
| Investment/interest income | (11 | ) | (15 | ) | (36 | ) | (48 | ) | |||||||
| Foreign exchange loss (gain) | 121 | 65 | (2 | ) | 650 | ||||||||||
| Other, net | 17 | (25 | ) | 39 | (61 | ) | |||||||||
| Total other expense | 127 | 25 | 1 | 541 | |||||||||||
| Income before income taxes | 3,496 | 290 | 10,970 | 9 | |||||||||||
| Income tax provision | 609 | 62 | 1,326 | 239 | |||||||||||
| Net income (loss) | 2,887 | 228 | 9,644 | (230 | ) | ||||||||||
| Foreign currency translation gain (loss), net of tax | 69 | 353 | (2,353 | ) | 2,966 | ||||||||||
| Comprehensive income | $ | 2,956 | $ | 581 | $ | 7,291 | $ | 2,736 | |||||||
| Net income (loss) per share: | |||||||||||||||
| Common shares - Basic | $ | 0.22 | $ | 0.02 | $ | 0.73 | $ | (0.02 | ) | ||||||
| Class B common shares - Basic | 0.19 | 0.02 | 0.66 | (0.02 | ) | ||||||||||
| Common shares - Diluted | 0.21 | 0.02 | 0.71 | (0.02 | ) | ||||||||||
| Class B common shares - Diluted | 0.19 | 0.02 | 0.64 | (0.02 | ) | ||||||||||
| Weighted average number of shares: | |||||||||||||||
| Common shares – Basic | 11,497 | 11,111 | 11,320 | 11,097 | |||||||||||
| Class B common shares – Basic | 2,074 | 2,097 | 2,089 | 2,097 | |||||||||||
| Common shares – Diluted | 12,027 | 11,183 | 11,724 | 11,097 | |||||||||||
| Class B common shares – Diluted | 2,074 | 2,097 | 2,089 | 2,097 | |||||||||||
| 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 | |||||||||||
