RICHARDSON ELECTRONICS, LTD.
For the period ended Jul 23, 2025. Filed Jul 23, 2025.
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Jul 23, 2025 · Filed Jul 23, 2025
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Contents
EX-99.1 · (continued)
(continued)
Non-GAAP Income Tax Benefit or Expense: Non-GAAP Income Tax Benefit or Expense is income tax (benefit) provision, adjusted to exclude a one-time loss on the sale of assets of the Company’s Healthcare business and to exclude a state tax valuation allowance adjustment. The following table represents the Company’s calculation of non-GAAP Income Tax (Benefit) Expense for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited ($ in thousands)Three Months Ended | (Unaudited ($ in thousands)Twelve Months Ended | |||
|---|---|---|---|---|
| May 31, 2025 | June 1, 2024 | May 31, 2025 | June 1, 2024 | |
| Income tax provision (benefit) reconciliation | ||||
| Income tax provision (benefit) | $889 | $(20) | $(388) | $96 |
| Loss on sale of healthcare assets and other charges | 41 | — | 1,319 | — |
| Prior years' R&D credit | — | 462 | — | 462 |
| Valuation allowance adjustment | (617) | (861) | (617) | (861) |
| Non-GAAP income tax provision (benefit) | $313 | $(419) | $314 | $(303) |
Non-GAAP Net Income: Non-GAAP Net Income is net (loss) income, adjusted to exclude a one-time loss on the sale of assets of the Company’s Healthcare business and to exclude a state tax valuation allowance adjustment. The following table represents the Company’s calculation of non-GAAP Net Income for the periods presented and a reconciliation to the most directly comparable GAAP financial measure:
| Unaudited ($ in thousands)Three Months Ended | Unaudited ($ in thousands)Twelve Months Ended | |||
|---|---|---|---|---|
| May 31, 2025 | June 1, 2024 | May 31, 2025 | June 1, 2024 | |
| Net income (loss) reconciliation | ||||
| Net income (loss) | $1,075 | $(119) | $(1,143) | $61 |
| Loss on sale of healthcare assets and other charges | 117 | — | 3,755 | — |
| Prior years' R&D credit | — | (462) | — | (462) |
| Valuation allowance adjustment | 617 | 861 | 617 | 861 |
| Non-GAAP net income | $1,809 | $280 | $3,229 | $460 |
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