Significant Accounting Policies and Disclosures (Tables)
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12 Months Ended |
May 31, 2025 |
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| Accounting Policies [Abstract] |
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| Schedule of Contract Liabilities and Revenue Recognized |
Contract Liabilities: Contract liabilities and revenue recognized were as follows for the years ended May 31, 2025, June 1, 2024 and May 27, 2023 (in thousands):
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May 31, 2025 |
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June 1, 2024 |
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May 27, 2023 |
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Contract liability |
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$ |
4,545 |
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$ |
4,520 |
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$ |
3,283 |
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Revenue recognition in the period from the amounts included
in the contract liability at beginning of the year |
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4,520 |
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3,283 |
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4,966 |
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| Schedule of Property, Plant and Equipment |
Property, plant and equipment consist of the following (in thousands):
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May 31, 2025 |
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June 1, 2024 |
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Land and improvements |
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$ |
1,532 |
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$ |
1,532 |
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Buildings and improvements |
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28,518 |
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27,885 |
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Computer, communications equipment and software |
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8,895 |
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11,900 |
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Machinery and other equipment |
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14,736 |
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19,253 |
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Construction in progress |
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2,799 |
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2,216 |
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$ |
56,480 |
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$ |
62,786 |
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Accumulated depreciation |
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(38,125 |
) |
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(42,105 |
) |
Property, plant, and equipment, net |
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$ |
18,355 |
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$ |
20,681 |
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| Schedule of Property Plant and Equipment Estimated Useful Lives |
Supplemental disclosure information of the estimated useful life of the assets:
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Land improvements |
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10 years |
Buildings and improvements |
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10 - 30 years |
Computer, communications equipment and software |
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3 - 10 years |
Machinery and other equipment |
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3 - 20 years |
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| Schedule of Intangible Assets Subject to Amortization |
Our intangible assets represent the fair value for customer relationships and technology acquired in connection with our acquisitions. Intangible assets subject to amortization were as follows (in thousands):
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May 31, 2025 |
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June 1, 2024 |
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Gross Amounts: |
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Customer Relationships |
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$ |
911 |
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$ |
3,396 |
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Technology |
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150 |
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380 |
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Total Gross Amounts |
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$ |
1,061 |
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$ |
3,776 |
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Accumulated Amortization: |
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Customer Relationships |
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$ |
652 |
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$ |
1,886 |
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Technology |
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64 |
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249 |
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Total Accumulated Amortization |
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$ |
716 |
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$ |
2,135 |
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Net Intangible Assets |
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$ |
345 |
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$ |
1,641 |
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| Schedule of the Amortization Expense for the Next Five Years |
The amortization expense associated with the intangible assets subject to amortization for the next five years is presented in the following table (in thousands):
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Fiscal Year |
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Amortization
Expense |
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2026 |
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$ |
60 |
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2027 |
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60 |
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2028 |
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60 |
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2029 |
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59 |
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2030 |
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37 |
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Thereafter |
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69 |
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Total amortization expense |
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$ |
345 |
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| Schedule of Accrued Liabilities |
Accrued Liabilities: Accrued liabilities consist of the following (in thousands):
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May 31, 2025 |
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June 1, 2024 |
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Compensation and payroll taxes |
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$ |
4,303 |
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$ |
3,495 |
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Accrued severance |
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593 |
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506 |
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Professional fees |
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522 |
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487 |
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Contract liabilities |
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4,545 |
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4,520 |
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Other accrued expenses |
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4,313 |
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6,396 |
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Accrued Liabilities |
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$ |
14,276 |
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$ |
15,404 |
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| Schedule of Warranty Reserve |
Changes in the warranty reserve during fiscal 2025 and fiscal 2024 were as follows (in thousands):
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Warranty
Reserve |
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Balance at May 27, 2023 |
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$ |
725 |
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Accruals for products sold |
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2 |
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Utilization |
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(42 |
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Balance at June 1, 2024 |
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$ |
685 |
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Accruals for products sold |
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202 |
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Utilization |
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(53 |
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Balance at May 31, 2025 |
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$ |
834 |
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