| Schedule of Operating Results by Segment |
Operating results by segment are summarized in the following tables (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended May 30, 2026 |
|
|
|
PMT |
|
|
GES |
|
|
Canvys |
|
|
Total |
|
Net sales |
|
$ |
160,490 |
|
|
$ |
30,814 |
|
|
$ |
37,260 |
|
|
$ |
228,564 |
|
Cost of sales |
|
|
110,398 |
|
|
|
21,487 |
|
|
|
25,332 |
|
|
|
157,217 |
|
Gross profit |
|
|
50,092 |
|
|
|
9,327 |
|
|
|
11,928 |
|
|
|
71,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
|
|
|
|
|
|
|
|
|
|
|
65,717 |
|
Loss on disposal of property, plant and equipment |
|
|
|
|
|
|
|
|
|
|
|
13 |
|
Gain on disposal of healthcare assets and related charges |
|
|
|
|
|
|
|
|
|
|
|
(847 |
) |
Operating income |
|
|
|
|
|
|
|
|
|
|
|
6,464 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
544 |
|
Foreign exchange loss |
|
|
|
|
|
|
|
|
|
|
|
(452 |
) |
Other, net |
|
|
|
|
|
|
|
|
|
|
|
922 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
7,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended May 31, 2025 |
|
|
|
PMT |
|
|
GES |
|
|
Canvys |
|
|
Total |
|
Net sales |
|
$ |
147,045 |
|
|
$ |
28,719 |
|
|
$ |
33,145 |
|
|
$ |
208,909 |
|
Cost of sales |
|
|
102,164 |
|
|
|
19,689 |
|
|
|
22,256 |
|
|
|
144,109 |
|
Gross profit |
|
|
44,881 |
|
|
|
9,030 |
|
|
|
10,889 |
|
|
|
64,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
|
|
|
|
|
|
|
|
|
|
|
62,173 |
|
Loss on disposal of property, plant and equipment |
|
|
|
|
|
|
|
|
|
|
|
16 |
|
Loss on disposal of healthcare assets and related charges |
|
|
|
|
|
|
|
|
|
|
|
5,074 |
|
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
(2,463 |
) |
Interest income |
|
|
|
|
|
|
|
|
|
|
|
392 |
|
Foreign exchange gain |
|
|
|
|
|
|
|
|
|
|
|
496 |
|
Other, net |
|
|
|
|
|
|
|
|
|
|
|
44 |
|
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
(1,531 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended June 1, 2024 |
|
|
|
PMT |
|
|
GES |
|
|
Canvys |
|
|
Total |
|
Net sales |
|
$ |
140,783 |
|
|
$ |
23,233 |
|
|
$ |
32,444 |
|
|
$ |
196,460 |
|
Cost of sales |
|
|
98,397 |
|
|
|
16,626 |
|
|
|
21,471 |
|
|
|
136,494 |
|
Gross profit |
|
|
42,386 |
|
|
|
6,607 |
|
|
|
10,973 |
|
|
|
59,966 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
|
|
|
|
|
|
|
|
|
|
|
59,548 |
|
Loss on disposal of property, plant and equipment |
|
|
|
|
|
|
|
|
|
|
|
70 |
|
Operating income |
|
|
|
|
|
|
|
|
|
|
|
348 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
284 |
|
Foreign exchange loss |
|
|
|
|
|
|
|
|
|
|
|
(436 |
) |
Other, net |
|
|
|
|
|
|
|
|
|
|
|
(39 |
) |
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
157 |
|
The segment assets, which consist of inventories, net are summarized in the following table (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PMT |
|
|
GES |
|
|
Canvys |
|
|
Total Segment Assets |
|
2026 |
|
$ |
82,253 |
|
|
$ |
13,174 |
|
|
$ |
7,593 |
|
|
$ |
103,020 |
|
2025 |
|
|
76,143 |
|
|
|
17,367 |
|
|
|
9,289 |
|
|
|
102,799 |
|
The reconciliations of segment assets to the Consolidated Balance Sheets are summarized in the following table (in thousands):
|
|
|
|
|
|
|
|
|
|
|
May 30, 2026 |
|
|
May 31, 2025 |
|
Total segment assets |
|
$ |
103,020 |
|
|
$ |
102,799 |
|
Cash and cash equivalents |
|
|
31,779 |
|
|
|
35,901 |
|
Accounts receivable |
|
|
33,162 |
|
|
|
24,117 |
|
Prepaid expenses and other assets |
|
|
4,770 |
|
|
|
3,070 |
|
Property, plant and equipment, net |
|
|
19,003 |
|
|
|
18,355 |
|
Intangible assets, net |
|
|
285 |
|
|
|
345 |
|
Right of use lease assets, net |
|
|
1,389 |
|
|
|
2,276 |
|
Deferred income tax assets |
|
|
8,346 |
|
|
|
8,744 |
|
Other non-current assets |
|
|
263 |
|
|
|
228 |
|
Total assets |
|
$ |
202,017 |
|
|
$ |
195,835 |
|
|
| Schedule of Net Sales and Gross Profit by Geographic Region |
Net sales and gross profit by geographic region are summarized in the following table (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended |
|
|
|
May 30, 2026 |
|
|
May 31, 2025 |
|
|
June 1, 2024 |
|
Net Sales |
|
|
|
|
|
|
|
|
|
North America (1) |
|
$ |
98,159 |
|
|
$ |
91,096 |
|
|
$ |
77,269 |
|
Asia/Pacific (2) |
|
|
58,000 |
|
|
|
43,211 |
|
|
|
45,264 |
|
Europe (3) |
|
|
65,656 |
|
|
|
64,949 |
|
|
|
61,476 |
|
Latin America (4) |
|
|
6,749 |
|
|
|
8,366 |
|
|
|
10,908 |
|
Other (5) |
|
|
— |
|
|
|
1,287 |
|
|
|
1,543 |
|
Total |
|
$ |
228,564 |
|
|
$ |
208,909 |
|
|
$ |
196,460 |
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
|
|
|
|
|
|
|
North America |
|
$ |
33,385 |
|
|
$ |
36,718 |
|
|
$ |
29,306 |
|
Asia/Pacific |
|
|
16,976 |
|
|
|
13,890 |
|
|
|
13,682 |
|
Europe |
|
|
18,359 |
|
|
|
18,572 |
|
|
|
18,516 |
|
Latin America |
|
|
2,628 |
|
|
|
3,236 |
|
|
|
3,983 |
|
Other |
|
|
(1 |
) |
|
|
(7,616 |
) |
|
|
(5,521 |
) |
Total |
|
$ |
71,347 |
|
|
$ |
64,800 |
|
|
$ |
59,966 |
|
(1)The United States represented approximately 40%, 44% and 40% of total net sales in FY26, FY25 and FY24, respectively. No other country generated a material amount. (2)China represented approximately 12% of total net sales in FY26. No other country generated a material amount. (3)Germany represented approximately 11% of total net sales in FY24. No other country generated a material amount. (4)No country generated a material amount. (5)Includes primarily net sales not allocated to a specific geographical region, unabsorbed value-add cost and other unallocated expenses.
|
| Schedule of Net Assets by Geographic Region |
Net assets by geographic region are summarized in the following table (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended |
|
|
|
May 30, 2026 |
|
|
May 31, 2025 |
|
Net Assets |
|
|
|
|
|
|
North America (1) |
|
$ |
85,272 |
|
|
$ |
92,312 |
|
Asia/Pacific (2) |
|
|
13,519 |
|
|
|
12,483 |
|
Europe (3) |
|
|
62,917 |
|
|
|
50,167 |
|
Latin America (2) |
|
|
1,993 |
|
|
|
1,697 |
|
Total |
|
$ |
163,701 |
|
|
$ |
156,659 |
|
(1)The United States represented approximately 52% and 58% of total net assets in FY26 and FY25, respectively. No other country generated a material amount. (2)No country generated a material amount. (3)The Netherlands represented approximately 28% and 22% of total net assets in FY26 and FY25, respectively. No other country generated a material amount.
|