Lifecore Biomedical (LFCR) 10-Q 7 Jan 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Nov. 25, 2018	Dec. 20, 2018
Document Information [Line Items]
Entity Registrant Name	LANDEC CORP \CA\
Entity Central Index Key	1,005,286
Trading Symbol	lndc
Current Fiscal Year End Date	--05-26
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		29,170,248
Document Type	10-Q
Document Period End Date	Nov. 25, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Nov. 25, 2018	May 27, 2018
Current Assets:
Cash and cash equivalents	$ 1,514	$ 2,899
Accounts receivable, less allowance for doubtful accounts	53,420	53,877
Inventories	31,628	31,819
Prepaid expenses and other current assets	5,904	7,958
Other current assets, discontinued operations		510
Total Current Assets	92,466	97,063
Investment in non-public company, fair value	68,100	66,500
Property and equipment, net	170,517	159,624
Goodwill	54,510	54,510
Trademarks/tradenames, net	16,028	16,028
Customer relationships, net	5,338	5,814
Other assets	4,695	5,164
Total Assets	411,654	404,703
Current Liabilities:
Accounts payable	31,719	34,668
Accrued compensation	6,824	9,978
Other accrued liabilities	9,922	8,706
Deferred revenue	1,717	2,625
Line of credit	42,000	27,000
Current portion of long-term debt	4,940	4,940
Other current liabilities, discontinued operations		458
Total Current Liabilities	97,122	88,375
Long-term debt, net	34,889	37,360
Capital lease obligation, less current portion	3,589	3,641
Deferred taxes, net	17,707	17,485
Other non-current liabilities	4,774	5,280
Total Liabilities	158,081	152,141
Stockholders’ Equity:
Common stock, $0.001 par value; 50,000 shares authorized; 27,785 and 27,702 shares issued and outstanding at November 25, 2018 and May 27, 2018, respectively	28	28
Additional paid-in capital	143,506	142,087
Retained earnings	108,904	109,299
Accumulated other comprehensive income	1,135	1,148
Total Stockholders’ Equity	253,573	252,562
Total Liabilities and Stockholders’ Equity	$ 411,654	$ 404,703

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Nov. 25, 2018	May 27, 2018
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000	50,000
Common stock, shares issued (in shares)	27,785	27,702
Common stock, shares outstanding (in shares)	27,785	27,702

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands	3 Months Ended			6 Months Ended
	Nov. 25, 2018		Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Product sales	$ 124,912,000		$ 122,461,000	$ 249,580,000	$ 238,242,000
Cost of product sales	108,319,000		107,540,000	216,650,000	204,519,000
Gross profit	16,593,000		14,921,000	32,930,000	33,723,000
Operating costs and expenses:
Research and development	2,533,000		3,372,000	5,366,000	6,091,000
Selling, general and administrative	14,666,000		12,244,000	28,617,000	25,602,000
Total operating costs and expenses	17,199,000		15,616,000	33,983,000	31,693,000
Operating (loss) income	(606,000)		(695,000)	(1,053,000)	2,030,000
Dividend income	412,000		412,000	825,000	825,000
Interest income	33,000		42,000	79,000	73,000
Interest expense	(746,000)	[1]	(480,000)	(1,504,000)	(884,000)
Other income	600,000		1,300,000	1,600,000	2,200,000
Net (loss) income from continuing operations before tax	(307,000)		579,000	(53,000)	4,244,000
Income tax expense	(277,000)		(165,000)	(342,000)	(1,475,000)
Net (loss) income from continuing operations	(584,000)		414,000	(395,000)	2,769,000
Income (loss) from discontinued operations			141,000		(62,000)
Income tax (expense) benefit			(42,000)		18,000
Income (loss) from discontinued operations, net of tax			99,000		(44,000)
Consolidated net (loss) income	(584,000)		513,000	(395,000)	2,725,000
Non-controlling interest expense			(26,000)		(92,000)
Net (loss) income applicable to common stockholders	$ (584,000)		$ 487,000	$ (395,000)	$ 2,633,000
Basic net (loss) income per share:
(Loss) income from continuing operations (in dollars per share)	$ (0.02)		$ 0.02	$ (0.01)	$ 0.10
Income (loss) from discontinued operations (in dollars per share)
Total basic net (loss) income per share (in dollars per share)	(0.02)		0.02	(0.01)	0.10
Diluted net (loss) income per share
(Loss) income from continuing operations (in dollars per share)	(0.02)		0.02	(0.01)	0.10
Income (loss) from discontinued operations (in dollars per share)
Total diluted net (loss) income per share (in dollars per share)	$ (0.02)		$ 0.02	$ (0.01)	$ 0.10
Basic (in shares)	27,764		27,518	27,751	27,512
Diluted (in shares)	27,764		27,875	27,751	27,866
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on interest rate swaps (net of tax effect of $53, $140, $(25), and $85)	$ 76,000		$ 239,000	$ (13,000)	$ 136,000
Other comprehensive income (loss), net of tax	76,000		239,000	(13,000)	136,000
Total comprehensive (loss) income	$ (508,000)		$ 726,000	$ (408,000)	$ 2,769,000
[1]	Beginning in first quarter of fiscal 2019, the Company began allocating interest expense to its reportable segments in information provided to its CODM to enhance visibility into how financing activities impact the discrete financial results.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Change in net unrealized gains on interest rate swap, tax	$ 53	$ 140	$ (25)	$ (85)

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 6 months ended Nov. 25, 2018 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at May. 27, 2018	27,702
Balance at May. 27, 2018	$ 28	$ 142,087	$ 109,299	$ 1,148	$ 252,562
Issuance of common stock at $6.82 to $14.39 per share, net of taxes paid by Landec on behalf of employees (in shares)	8
Issuance of common stock at $6.82 to $14.39 per share, net of taxes paid by Landec on behalf of employees
Issuance of common stock for vested restricted stock units ("RSUs") (in shares)	75
Issuance of common stock for vested restricted stock units ("RSUs")
Taxes paid by Company for employee stock plans		(247)			(247)
Stock-based compensation		1,666			1,666
Net loss			(395)		(395)
Other comprehensive loss, net of tax				(13)	(13)
Balance (in shares) at Nov. 25, 2018	27,785
Balance at Nov. 25, 2018	$ 28	$ 143,506	$ 108,904	$ 1,135	$ 253,573

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - Common Stock [Member]	Nov. 25, 2018$ / shares
Minimum [Member]
Issuance of common stock, per share (in dollars per share)	$ 6.82
Maximum [Member]
Issuance of common stock, per share (in dollars per share)	$ 14.39

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Nov. 25, 2018	Nov. 26, 2017
Cash flows from operating activities:
Consolidated net (loss) income		$ (395)	$ 2,725
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		6,458	5,934
Stock-based compensation expense		1,666	2,066
Deferred taxes		226	1,364
Change in investment in non-public company, fair value		(1,600)	(2,200)
Change in contingent consideration liability		(900)
Net loss (gain) on disposal of property and equipment		1	(45)
Changes in current assets and current liabilities:
Accounts receivable, net		975	(9,273)
Inventories		191	(5,546)
Prepaid expenses and other current assets		2,267	(904)
Accounts payable		(1,381)	13,621
Accrued compensation		(3,322)	(497)
Other accrued liabilities		1,575	(2,272)
Deferred revenue		(958)	1,363
Net cash provided by operating activities		4,803	6,336
Cash flows from investing activities:
Purchases of property and equipment		(18,588)	(9,437)
Issuance of note receivable			(2,099)
Proceeds from collections of notes receivable		195
Proceeds from sales of fixed assets		3	73
Net cash used in investing activities		(18,390)	(11,463)
Cash flows from financing activities:
Proceeds from sale of common stock			1
Taxes paid by Company for employee stock plans		(247)	(256)
Payments on long-term debt		(2,543)	(2,543)
Proceeds from lines of credit		15,000	14,500
Payments on lines of credit			(7,500)
Payments to non-controlling interest			(115)
Other, net
Net cash provided by financing activities		12,210	4,087
Net decrease in cash, cash equivalents and restricted cash (1)	[1]	(1,377)	(1,040)
Cash, cash equivalents and restricted cash, beginning of period (1)	[1]	3,216	5,734
Cash, cash equivalents and restricted cash, end of period (1)	[1]	1,839	4,694
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment on trade vendor credit		$ 1,319	$ 2,374
[1]	As a result of adopting ASU 2016-18, the Company now is required to include restricted cash as part of the change in the total cash balance. Accordingly, cash and cash equivalents at the beginning-of-period and end-of-period total amounts have been adjusted to include $325,000 of restricted cash for each of the periods presented. Refer to Note 1, "Recently Adopted Accounting Pronouncements," in the Notes to Condensed Consolidated Financial Statements for more information.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($)	Nov. 25, 2018	May 27, 2018	Nov. 26, 2017	May 28, 2017
Restricted cash	$ 325,000	$ 325,000	$ 325,000	$ 325,000

Note 1 - Organization, Basis of

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Organization, Basis of Presentation , and Summary of Significant Accounting Policies Organization Landec Corporation and its subsidiaries (“Landec” or the “Company”) design, develop, manufacture, and sell differentiated products for food and biomaterials markets, and license technology applications to partners. The Company has two 1 ® 2 ® ® ® O ® The Company’s technologies, along with its customer relationships and tradenames, are the foundation and key differentiating advantages upon which Landec has built its business. Basis of Presentation The accompanying unaudited consolidated financial statements of Landec have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10 10 X. November 25, 2018 not 10 May 27, 2018. The Company’s fiscal year is the 52 53 May August, November, February; 12 14th five six In May 2018, 205 20, Presentation of Financial Statements - Discontinued Operations 205 20" 360, Property, Plant and Equipment 360” six November 26, 2017. The results of operations for the six November 25, 2018 not may may As disclosed in the Company’s fiscal year 2018 10 2018 2017. not 2018 2017 2018 2017 12 2018 10 six November 26, 2017 Basis of Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with GAAP and include the accounts of Landec Corporation and its subsidiaries, Apio and Lifecore. All intercompany transactions and balances have been eliminated. Arrangements that are not An entity is a VIE and subject to consolidation, if by design: a) the total equity investment at risk is not one three not Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; loss contingencies; sales returns and allowances; inventories; self-insurance liabilities; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived assets including intangible assets; the valuation of investments; the valuation and recognition of stock-based compensation; the valuation of financial assets and liabilities; and the valuation of contingent consideration liabilities. These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may Cash and Cash Equivalents The Company records all highly liquid securities with three Reconciliation of Cash and Cash Equivalents and Restricted Cash as presented on the Statements of Cash Flows The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows (in thousands): November 25, 2018 May 27, 2018 November 26, 2017 May 28, 2017 Cash and cash equivalents $ 1,514 $ 2,899 $ 4,602 $ 5,998 Restricted cash 325 325 325 325 Cash, discontinued operations — (8 ) (233 ) (589 ) Cash, cash equivalents and restricted cash $ 1,839 $ 3,216 $ 4,694 $ 5,734 Restricted Cash The Company was required to maintain $325,000 November 25, 2018 May 27, 2018, Inventories Inventories are stated at the lower of cost ( first first November 25, 2018 May 27, 2018 Raw materials $ 14,607 $ 15,286 Work in progress 3,092 3,672 Finished goods 13,929 12,861 Total $ 31,628 $ 31,819 If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also records a provision for slow moving and obsolete inventories based on the estimate of demand for its products. Related Party Transactions The Company sells products to and earns license fees from Windset Holdings 2010 three November 25, 2018 November 26, 2017, $109,000 $91,000, six November 25, 2018 November 26, 2017, $244,000 $195,000, $207,000 $334,000 November 25, 2018 May 27, 2018, Additionally, unrelated to the revenue transactions above, the Company purchases produce from Windset for sale to third three six November 25, 2018, $0 $6,000, All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors. Debt Issuance Costs The Company records its line of credit debt issuance costs as an asset, and as such, $120,000 $218,000 November 25, 2018, $120,000 $278,000, May 27, 2018. $60,000 $110,000 November 25, 2018 $60,000 $140,000, May 27, 2018. 7 Financial Instruments The Company’s financial instruments are primarily composed of commercial-term trade payables, grower advances, notes receivable, and debt instruments. For short-term instruments, the historical carrying amount approximates the fair value of the instrument. The fair value of long-term debt approximates its carrying value. Cash Flow Hedges The Company has entered into interest rate swap contracts to manage interest rate risk. These derivative instruments may one For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of Accumulated Other Comprehensive Income (“AOCI”) in Stockholders’ Equity and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized in earnings in the current period. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. Accumulated Other Comprehensive Income (AOCI) Comprehensive income consists of two AOCI Accumulated OCI, net, as of May 27, 2018 $ 1,148 Unrealized losses on interest rate swap contracts, net of tax effect (13 ) Amounts reclassified from OCI — Accumulated OCI, net, as of November 25, 2018 $ 1,135 The Company does not 12 Investment in Non-Public Company On February 15, 2011, November 25, 2018 May 27, 2018. 3 Intangible Assets The Company’s intangible assets are comprised of customer relationships with a finite estimated useful life of eleven thirteen Finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not 350 30 35. Partial Self-Insurance on Employee Health and Workers Compensation Plans The Company provides health insurance benefits to eligible employees under self-insured plans whereby the Company pays actual medical claims subject to certain stop loss limits and self-insures its workers compensation claims. The Company records self-insurance liabilities based on actual claims filed and an estimate of those claims incurred but not not November 25, 2018 May 27, 2018. may Fair Value Measurements The Company uses fair value measurement accounting for financial assets and liabilities and for financial instruments and certain other items measured at fair value. The Company has elected the fair value option for its investment in a non-public company. See Note 3 2 O not The accounting guidance established a three Level 1 Level 2 Level 3 no As of November 25, 2018 May 27, 2018, O The fair value of the Company’s interest rate swap contracts is determined based on model inputs that can be observed in a liquid market, including yield curves, and is categorized as a Level 2 The fair value of the Company’s contingent consideration liability from the acquisition of O O 3 In determining the fair value of the Company’s contingent consideration liability, the Company utilizes the following significant unobservable inputs in the discounted cash flow models: At November 25, 2018 At May 27, 2018 Cost of debt 5.3% to 5.7% 4.7% to 5.2% Market price of risk adjustment 20% 20% EBITDA volatility 24% 25% The fair value of our contingent consideration liability is sensitive to change in forecasts and discount rates. The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions (in thousands): Impact on value of Contingent consideration liability as of November 25, 2018 10% increase in EBITDA forecast $ 300 The Company has elected the fair value option of accounting for its investment in Windset. The calculation of fair value utilizes significant unobservable inputs, including projected cash flows, growth rates, and discount rates. As a result, the Company’s investment in Windset is considered to be a Level 3 six November 25, 2018 26.9% In determining the fair value of the investment in Windset, the Company utilizes the following significant unobservable inputs in the discounted cash flow models: At November 25, 2018 At May 27, 2018 Revenue growth rates 6% 6% Expense growth rates 6% 6% Income tax rates 15% 15% Discount rates 12% 12% The revenue growth, expense growth, and income tax rate assumptions are considered the Company's best estimate of the trends in those items over the discount period. The discount rate assumption takes into account the risk-free rate of return, the market equity risk premium, and the company’s specific risk premium and then applies an additional discount for lack of liquidity of the underlying securities. The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions (in thousands): Impact on value of investment in Windset as of November 25, 2018 10% increase in revenue growth rates $ 9,800 10% increase in expense growth rates $ (9,300 ) 10% increase in income tax rates $ (500 ) 10% increase in discount rates $ (3,700 ) Imprecision in estimating unobservable market inputs can affect the amount of gain or loss recorded for a particular position. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring basis (in thousands): Fair Value at November 25, 2018 Fair Value at May 27, 2018 Assets: Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Interest rate swap contracts $ — $ 1,512 $ — $ — $ 1,529 $ — Investment in non-public company — — 68,100 — — 66,500 Total assets $ — $ 1,512 $ 68,100 $ — $ 1,529 $ 66,500 Liabilities: Contingent consideration liability — — 3,100 — — 4,000 Total liabilities $ — $ — $ 3,100 $ — $ — $ 4,000 The following table reflects the fair value rollforward reconciliation of Level 3 six November 25, 2018 ( Windset Investment Contingent Consideration Liability Balance as of May 27, 2018 $ 66,500 $ 4,000 Fair value change 1,600 (900 ) Balance as of November 25, 2018 $ 68,100 $ 3,100 Revenue Recognition See Note 9 three The Company follows the five The revenue streams within the Company are consistent with those disclosed within Note 9 11 10 May 27, 2018. The Company’s standard terms of sale are included in its contracts, purchase orders, and invoices. As such, all revenue is considered revenue recognized from contracts with customers. The Company has elected to account for shipping and handling as fulfillment activities, and not 30 90 may not Occasionally, the Company enters into bill-and-hold arrangements, where it invoices the customer for products even though it retains possession of the products until a point-in-time in the future when the products will be shipped to the customer. In these contracts, the primary performance obligation is satisfied, and revenue is generally recognized, at a point-in-time when the product is segregated from the Company’s general inventory, it's ready for shipment to the customer, and the Company does not The Company disaggregates its revenue by segment product lines based on how it markets its products and reviews results of operations. The following tables disaggregate segment revenue by major product lines (in thousands): Three Months Ended Six Months Ended Natural Foods: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Salads $ 41,950 $ 44,578 $ 91,030 $ 86,626 Core vegetables 64,492 61,906 126,242 121,549 Other 3,024 1,864 4,245 3,790 Total $ 109,466 $ 108,348 $ 221,517 $ 211,965 Three Months Ended Six Months Ended Biomaterials: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Aseptic $ 8,128 $ 7,591 $ 13,894 $ 14,618 Fermentation 1,915 2,865 4,985 5,655 Development services 5,403 3,657 9,184 6,004 Total $ 15,446 $ 14,113 $ 28,063 $ 26,277 Shipping and Handling Shipping and handling costs are incurred to move the Company’s products from production and storage facilities to the customer. Handling costs are incurred from the point the product is segregated from the Company’s general inventory until it is provided to the shipper and generally include costs to store, move and prepare the products for shipment. The cost of shipping and handling services is recognized in Cost of product sales. When the costs of shipping and handling are passed on to a customer, the related amount is recorded in revenue. Legal Contingencies In the ordinary course of business, the Company is involved in various legal proceedings and claims. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least each fiscal quarter and adjusted to reflect the impacts of negotiations, estimate settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. Legal fees are expensed in the period in which they are incurred. Apio has been the target of a union organizing campaign which has included three 100 100 The legal actions consisted of three 1 2 3 two 100 The ULP claims were settled in fiscal year 2017 $310,000. $155,000. May 5, 2017, September 2011 $6.0 three $2.4 July 2017, $1.8 November 2017 $1.8 July 2018, one first two $4.2 $2.1 November 25, 2018, $1.9 $900,000 $1.0 December 2020. November 25, 2018, not not November 25, 2018, $1.9 As of November 25, 2018 May 27, 2018, $0 $1.0 Recent Accounting Guidance Recently Adopted Pronouncements Income Taxes In February 2018, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income December 2017. December 15, 2018. 2018 02 August 27, 2018. not Stock Compensation In May 2017, 2017 09, 718 Scope of Modification Accountin g, 718. December 15, 2017. 2017 09 May 28, 2018. not Restricted Cash In November 2016, 2016 18, 230 Restricted Cash 2016 18” 2016 18 2016 18 December 15, 2017, 2016 18 May 28, 2018. $325,000 Intra-Entity Transfers In November 2016, 2016 16, Intra-Entity Transfers of Assets Other Than Inventory 2016 16 December 15, 2017, May 28, 2018, Statement of Cash Flows In August 2016, 2016 15, 230 Classification of Certain Cash Receipts and Cash Payments 2016 15 May 28, 2018, Revenue Recognition In May 2014, 2014 09, 606 , Revenue from Contracts with Customers 606” 605, Revenue Recognition five The Company adopted Topic 606 May 28, 2018 606 not 606. In the notes to the consolidated financial statements, the Company has expanded its revenue recognition disclosures. Additionally, it has implemented changes to accounting policies and procedures, business processes, and controls in order to comply with the revenue recognition and disclosure requirements of Topic 606. Recently Issued Pronouncements to be Adopted Disclosure simplification In August 2018, No. 33 10532, Disclosure Update and Simplification November 5, 2018. November 5, 2018, third 2019. Cloud Computing Arrangements In August 2018, 2018 15, Customer ’ s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract 2018 15 350 40 2018 15 December 15, 2019. Hedging In August 2017, 2017 12, Targeted Improvements to Accounting for Hedging Activities 2017 12 2017 12 December 15, 2018, Financial Instruments – Credit Losses June 2016, 2016 13, Financial Instruments — Credit Losses (Topic 326 2016 13 2016 13 December 15, 2019. 2016 13 not Leases In February 2016, 2016 02, Leases (Topic 842 2016 02” 2016 02 July 2018, 2018 11— Leases (Topic 842 2016 02 2016 02 first 2020 The Company is currently in the process of evaluating the impact that ASU 2016 02 ● Reviewing the provisions of ASU 2016 02; ● Gathering information to evaluate its lease population and portfolio; ● Evaluating the nature of its real and personal property and other arrangements that may ● Systems’ readiness evaluations. As a result of these efforts, the Company currently anticipates that the adoption of ASU 2016 02 not not 2016 02

Note 2 - Acquisition of O

Note 2 - Acquisition of O	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. Acquisition of O On March 1, 2017, O $2.5 $7.5 2018 2020 O The potential earn out payment of up to $7.5 O 2018 2020. 2018, O O not $4.6 three $2.9 $6.0 three third O November 25, 2018 May 27, 2018, $3.1 $4.0 $900,000 three six November 25, 2018

Note 3 - Investment in Non-publ

Note 3 - Investment in Non-public Company	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Investment Holdings [Text Block]	3. Investment in Non-public Company On February 15, 2011, 150,000 $15 201 $201. July 15, 2014, 68 51,211 $11 26.9% 7.5% 90 not no The Shareholders’ Agreement between Apio and Windset, as amended on March 15, 2017, March 31, 2022, 26.9% $20.1 $15 $5.1 one five On October 29, 2014, 70,000 $7 7.5% $7 October 29, 2017. At any time, Windset has the right to call the Senior B preferred shares owned by Apio. Windset’s partial call provision is restricted such that a partial call cannot result in Apio holding less than 10% The investment in Windset does not not not The fair value of the Company’s investment in Windset was determined utilizing the Windset Purchase Agreement’s put/call calculation for value and a discounted cash flow model based on projections developed by Windset, and considers the put and call conversion options. These features impact the duration of the cash flows utilized to derive the estimated fair values of the investment. These two During each of the three November 25, 2018 November 26, 2017, $412,500 six November 25, 2018 November 26, 2017, $825,000 three November 25, 2018 November 26, 2017 $600,000 $1.3 six November 25, 2018 November 26, 2017 $1.6 $2.2 .

Note 4 - Stock-based Compensati

Note 4 - Stock-based Compensation	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4 . Stock-Based Compensation The Company’s stock-based awards include stock option grants and restricted stock units (“RSUs”). The Company records compensation expense for stock-based awards issued to employees and directors in exchange for services provided based on the estimated fair value of the awards on their grant dates and is recognized over the required service periods, generally the vesting period. The following table summarizes the stock-based compensation for stock options and RSUs (in thousands): Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Options $ 223 $ 354 $ 444 $ 678 RSUs 715 762 1,222 1,388 Total stock-based compensation $ 938 $ 1,116 $ 1,666 $ 2,066 The following table summarizes the stock-based compensation by income statement line item (in thousands): Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Cost of sales $ 117 $ 137 $ 218 $ 261 Research and development 30 23 55 42 Selling, general and administrative 791 956 1,393 1,763 Total stock-based compensation $ 938 $ 1,116 $ 1,666 $ 2,066 The estimated fair value for stock options, which determines the Company’s calculation of stock-based compensation expense, is based on the Black-Scholes option pricing model. RSUs are valued at the closing market price of the Company’s common stock on the grant date. The Company uses the straight-line method to recognize the fair value of stock-based compensation arrangements. As of November 25, 2018, $5.9 1.9 2.2

Note 5 - Diluted Net Income Per

Note 5 - Diluted Net Income Per Share	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	5 . Diluted Net Income Per Share The following table sets forth the computation of diluted net (loss) income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Numerator: Net (loss) income applicable to Common Stockholders $ (584 ) $ 487 $ (395 ) $ 2,633 Denominator: Weighted average shares for basic net income per share 27,764 27,518 27,751 27,512 Effect of dilutive securities: Stock options and restricted stock units — 357 — 354 Weighted average shares for diluted net income per share 27,764 27,875 27,751 27,866 Diluted net (loss) income per share $ (0.02 ) $ 0.02 $ (0.01 ) $ 0.10 Due to the Company’s net loss for the three six November 25, 2018, 1.5 1.4 For the three six November 26, 2017, 1.3 1.4

Note 6 - Income Taxes

Note 6 - Income Taxes	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	6 . Income Taxes On December 22, 2017, 2017 not 35%, 29.4% May 27, 2018, 21% three six November 25, 2018 one 2026 In March 2018, No. 2018 05, 740 No. 118, 2018 05" not May 27, 2018. November 25, 2018, not $347,000 three six November 25, 2018. The provision for income taxes for the six November 25, 2018 November 26, 2017 $342,000 $1.5 six November 25, 2018 November 26, 2017 25% 35%, six November 25, 2018 21% As of November 25, 2018 May 27, 2018, $582,000 $479,000, November 25, 2018 May 27, 2018 $507,000 $372,000, not twelve The Company has elected to classify interest and penalties related to uncertain tax positions as a component of its provision for income taxes. The Company has accrued an insignificant amount of interest and penalties relating to the income tax on the unrecognized tax benefits as of November 25, 2018 May 27, 2018. Due to tax attribute carryforwards, the Company is subject to examination for tax years 2015 2012 none The Company’s estimated annual effective tax rate may

Note 7 - Debt

Note 7 - Debt	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7 . Debt Long-term debt, net consists of the following (in thousands): November 25, 2018 May 27, 2018 Term loan with JPMorgan Chase Bank (“JPMorgan”), BMO Harris Bank N.A. (“BMO”), and City National Bank; due in quarterly principal and interest payments of $1,250 beginning December 1, 2016 through September 23, 2021 with the remainder due on maturity, with interest based on the Company’s leverage ratio at a per annum rate of the Eurodollar rate plus a spread of between 1.25% and 2.25% $ 40,000 $ 42,500 Total principal amount of long-term debt 40,000 42,500 Less: unamortized debt issuance costs (171 ) (200 ) Total long-term debt, net of unamortized debt issuance costs 39,829 42,300 Less: current portion of long-term debt, net (4,940 ) (4,940 ) Long-term debt, net $ 34,889 $ 37,360 On September 23, 2016, $100.0 $50.0 Both the Revolver and the Term Loan mature in five September 23, 2021), $1.25 December 1, 2016, Interest on both the Revolver and the Term Loan is based on either the prime rate or Eurodollar rate, at the Company’s discretion, plus a spread based on the Company’s leverage ratio (generally defined as the ratio of the Company’s total indebtedness on such date to the Company’s consolidated EBITDA for the period of four 0.25% 1.25% 1.25% 2.25% The Credit Agreement provides the Company the right to increase the Revolver commitments and/or the Term Loan commitments by obtaining additional commitments either from one $75.0 The Credit Agreement contains customary financial covenants and events of default under which the obligation could be accelerated and/or the interest rate increased. The Company was in compliance with all financial covenants as of November 25, 2018. On November 1, 2016, “2016 $50 2016 30 1.22%. 1 On June 25, 2018, “2018 $30.0 2018 first $30.0 30 30 2.74%. In connection with the Credit Agreement, the Company incurred lender and third $897,000, $598,000 $299,000 As of November 25, 2018, $42.0 4.30%

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8 . Stockholders’ Equity During the three November 25, 2018, 45,000 19,000 six November 25, 2018, 175,000 254,000 As of November 25, 2018, 2.7 On July 14, 2010, $10 may not may six November 25, 2018, not

Note 9 - Business Segment Repor

Note 9 - Business Segment Reporting	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	9 . Business Segment Reporting Prior to May 2018, three May 2018, 205 20 360 three six November 26, 2017, no Beginning in fiscal year 2019, three O ® ® O The Company’s international sales by geography are based on the billing address of the customer and were as follows (in millions): Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Canada $ 20.3 $ 17.3 $ 40.2 $ 35.6 Belgium $ 0.5 $ 0.5 $ 2.5 $ 2.7 Ireland $ 1.2 $ 0.8 $ 2.3 $ 1.6 Denmark $ — $ 0.5 $ 0.2 $ 0.7 Switzerland $ 0.5 $ — $ 0.6 $ — Mexico $ 0.1 $ 0.2 $ 0.1 $ 0.3 All Other Countries $ 0.6 $ 1.1 $ 1.1 $ 1.2 Operations by business segment consisted of the following (in thousands): Natural Foods Biomaterials Other Total Three Months Ended November 25, 2018 Net sales $ 109,466 $ 15,446 $ — $ 124,912 International sales $ 20,367 $ 2,842 $ — $ 23,209 Gross profit $ 10,915 $ 5,678 $ — $ 16,593 Net (loss) income from continuing operations $ (418 ) $ 1,298 $ (1,464 ) $ (584 ) Depreciation and amortization $ 2,196 $ 978 $ 139 $ 3,313 Dividend income $ 412 $ — $ — $ 412 Interest income $ 30 $ — $ 3 $ 33 Interest expense, net (1) $ 276 $ — $ 470 $ 746 Income tax (benefit) expense $ (50 ) $ 432 $ (105 ) $ 277 Six Months Ended November 25, 2018 Net sales $ 221,517 $ 28,063 $ — $ 249,580 International sales $ 40,480 $ 6,558 $ — $ 47,038 Gross profit $ 24,285 $ 8,645 $ — $ 32,930 Net income (loss) from continuing operations $ 1,349 $ 751 $ (2,495 ) $ (395 ) Depreciation and amortization $ 4,236 $ 1,954 $ 268 $ 6,458 Dividend income $ 825 $ — $ — $ 825 Interest income $ 61 $ — $ 18 $ 79 Interest expense, net (1) $ 863 $ — $ 641 $ 1,504 Income tax expense (benefit) $ 612 $ 250 $ (520 ) $ 342 Three Months Ended November 26, 2017 Net sales $ 108,348 $ 14,113 $ — $ 122,461 International sales $ 17,749 $ 2,675 $ — $ 20,424 Gross profit $ 9,704 $ 5,217 $ — $ 14,921 Net (loss) income from continuing operations $ (435 ) $ 1,260 $ (411 ) $ 414 Depreciation and amortization $ 1,958 $ 910 $ 112 $ 2,980 Dividend income $ 412 $ — $ — $ 412 Interest income $ 18 $ — $ 24 $ 42 Interest expense, net $ — $ — $ 480 $ 480 Income tax (benefit) expense $ (95 ) $ 374 $ (114 ) $ 165 Six Months Ended November 26, 2017 Net sales $ 211,965 $ 26,277 $ — $ 238,242 International sales $ 35,923 $ 6,174 $ — $ 42,097 Gross profit $ 24,984 $ 8,739 $ — $ 33,723 Net income (loss) from continuing operations $ 3,166 $ 1,105 $ (1,502 ) $ 2,769 Depreciation and amortization $ 3,930 $ 1,775 $ 229 $ 5,934 Dividend income $ 825 $ — $ — $ 825 Interest income $ 28 $ — $ 45 $ 73 Interest expense, net $ — $ — $ 884 $ 884 Income tax expense $ 1,002 $ 347 $ 126 $ 1,475 ( 1 Beginning in first 2019, During the six November 25, 2018 November 26, 2017, five 45% 49% two 17% six November 25, 2018, 19% 18%, six November 26, 2017.

Note 10 - Discontinued Operatio

Note 10 - Discontinued Operations	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	10. Discontinued Operations During the fourth 2018, 205 20¸ The carrying amounts of the major classes of assets and liabilities of the Food Export business segment included in assets and liabilities of discontinued operations are as follows (in thousands): Period Ended November 25, 2018 May 27, 2018 Current and other assets, discontinued operations: Cash and cash equivalents $ — $ (8 ) Accounts receivable — 518 Inventory — — Other assets — — Total assets, discontinued operations $ — $ 510 Other current liabilities, discontinued operations: Accounts payable $ — $ 230 Accrued expenses and other current liabilities — 228 Total other current liabilities, discontinued operations $ — $ 458 After the Food Export business segment was discontinued, the operations associated with this business qualified for reporting as discontinued operations. Accordingly, the operating results, net of tax, from discontinued operations are presented separately in the Company’s Consolidated Statements of Comprehensive Income and the notes to the consolidated financial statements have been adjusted to exclude the food export business segment for the three six November 26, 2017. three six Three Months Ended November 26, 2017 Six Months Ended November 26, 2017 Revenues $ 13,996 $ 21,572 Cost of sales (13,165 ) (20,257 ) Selling, general and administrative (690 ) (1,377 ) Other — — Income (loss) from discontinued operations, before taxes 141 (62 ) Income tax (expense) benefit (42 ) 18 Income (loss) from discontinued operations, net of tax $ 99 $ (44 )

Note 11 - Subsequent Event

Note 11 - Subsequent Event	6 Months Ended
	Nov. 25, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	11. Subsequent event Yucatan Acquisition On December 1, 2018, December 1, 2018 ( $60.0 $20.0 3 4 50% 3 4 Given the timing of the completion of the acquisition, the Company is currently in the process of valuing the assets acquired and liabilities assumed in the acquisition. As a result, the Company is unable to provide the amount to be recorded as of the acquisition date for the major classes of assets acquired and liabilities assumed. The Company will provide these disclosures in its Quarterly Report on Form 10 third February 24, 2019. Fourth Amendment to the Credit Agreement On November 30, 2018, $55,000,000 $105,000,000 $100,000,000 $100,000,000 $50,000,000 The Amended Credit Agreement continues to be guaranteed by certain of Landec's direct and indirect subsidiaries and secured by substantially all of Landec's and such direct and indirect subsidiaries’ personal property assets (with the exception of Apio’s equity interest in Windset Holdings 2010 September 23, 2021, $2,500,000 0.25% 2.25% 1.25% 3.25%, 4.50 1.00. one $10,000,000. Landec entered into the Amended Credit Agreement primarily to fund its acquisition of Yucatan and its related entities on December 1, 2018, The Amended Credit Agreement continues to contain customary events of default under which the obligation could be accelerated and/or the interest rate increased.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 25, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements of Landec have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10 10 X. November 25, 2018 not 10 May 27, 2018. The Company’s fiscal year is the 52 53 May August, November, February; 12 14th five six In May 2018, 205 20, Presentation of Financial Statements - Discontinued Operations 205 20" 360, Property, Plant and Equipment 360” six November 26, 2017. The results of operations for the six November 25, 2018 not may may As disclosed in the Company’s fiscal year 2018 10 2018 2017. not 2018 2017 2018 2017 12 2018 10 six November 26, 2017
Consolidation, Policy [Policy Text Block]	Basis of Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with GAAP and include the accounts of Landec Corporation and its subsidiaries, Apio and Lifecore. All intercompany transactions and balances have been eliminated. Arrangements that are not An entity is a VIE and subject to consolidation, if by design: a) the total equity investment at risk is not one three not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; loss contingencies; sales returns and allowances; inventories; self-insurance liabilities; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived assets including intangible assets; the valuation of investments; the valuation and recognition of stock-based compensation; the valuation of financial assets and liabilities; and the valuation of contingent consideration liabilities. These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company records all highly liquid securities with three Reconciliation of Cash and Cash Equivalents and Restricted Cash as presented on the Statements of Cash Flows The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows (in thousands): November 25, 2018 May 27, 2018 November 26, 2017 May 28, 2017 Cash and cash equivalents $ 1,514 $ 2,899 $ 4,602 $ 5,998 Restricted cash 325 325 325 325 Cash, discontinued operations — (8 ) (233 ) (589 ) Cash, cash equivalents and restricted cash
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash The Company was required to maintain $325,000 November 25, 2018 May 27, 2018,
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost ( first first November 25, 2018 May 27, 2018 Raw materials $ 14,607 $ 15,286 Work in progress 3,092 3,672 Finished goods 13,929 12,861 Total $ 31,628 $ 31,819 If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also records a provision for slow moving and obsolete inventories based on the estimate of demand for its products.
Related Party Transactions Policy [Policy Text Block]	Related Party Transactions The Company sells products to and earns license fees from Windset Holdings 2010 three November 25, 2018 November 26, 2017, $109,000 $91,000, six November 25, 2018 November 26, 2017, $244,000 $195,000, $207,000 $334,000 November 25, 2018 May 27, 2018, Additionally, unrelated to the revenue transactions above, the Company purchases produce from Windset for sale to third three six November 25, 2018, $0 $6,000, All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors.
Debt, Policy [Policy Text Block]	Debt Issuance Costs The Company records its line of credit debt issuance costs as an asset, and as such, $120,000 $218,000 November 25, 2018, $120,000 $278,000, May 27, 2018. $60,000 $110,000 November 25, 2018 $60,000 $140,000, May 27, 2018. 7
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments The Company’s financial instruments are primarily composed of commercial-term trade payables, grower advances, notes receivable, and debt instruments. For short-term instruments, the historical carrying amount approximates the fair value of the instrument. The fair value of long-term debt approximates its carrying value. Cash Flow Hedges The Company has entered into interest rate swap contracts to manage interest rate risk. These derivative instruments may one For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of Accumulated Other Comprehensive Income (“AOCI”) in Stockholders’ Equity and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument, if any, is recognized in earnings in the current period. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. Accumulated Other Comprehensive Income (AOCI) Comprehensive income consists of two AOCI Accumulated OCI, net, as of May 27, 2018 $ 1,148 Unrealized losses on interest rate swap contracts, net of tax effect (13 ) Amounts reclassified from OCI — Accumulated OCI, net, as of November 25, 2018 $ 1,135 The Company does not 12
Investment In Non Public Companies [Policy Text Block]	Investment in Non-Public Company On February 15, 2011, November 25, 2018 May 27, 2018. 3
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets The Company’s intangible assets are comprised of customer relationships with a finite estimated useful life of eleven thirteen Finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not 350 30 35.
Self Insurance Reserve [Policy Text Block]	Partial Self-Insurance on Employee Health and Workers Compensation Plans The Company provides health insurance benefits to eligible employees under self-insured plans whereby the Company pays actual medical claims subject to certain stop loss limits and self-insures its workers compensation claims. The Company records self-insurance liabilities based on actual claims filed and an estimate of those claims incurred but not not November 25, 2018 May 27, 2018. may
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company uses fair value measurement accounting for financial assets and liabilities and for financial instruments and certain other items measured at fair value. The Company has elected the fair value option for its investment in a non-public company. See Note 3 2 O not The accounting guidance established a three Level 1 Level 2 Level 3 no As of November 25, 2018 May 27, 2018, O The fair value of the Company’s interest rate swap contracts is determined based on model inputs that can be observed in a liquid market, including yield curves, and is categorized as a Level 2 The fair value of the Company’s contingent consideration liability from the acquisition of O O 3 In determining the fair value of the Company’s contingent consideration liability, the Company utilizes the following significant unobservable inputs in the discounted cash flow models: At November 25, 2018 At May 27, 2018 Cost of debt 5.3% to 5.7% 4.7% to 5.2% Market price of risk adjustment 20% 20% EBITDA volatility 24% 25% The fair value of our contingent consideration liability is sensitive to change in forecasts and discount rates. The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions (in thousands): Impact on value of Contingent consideration liability as of November 25, 2018 10% increase in EBITDA forecast $ 300 The Company has elected the fair value option of accounting for its investment in Windset. The calculation of fair value utilizes significant unobservable inputs, including projected cash flows, growth rates, and discount rates. As a result, the Company’s investment in Windset is considered to be a Level 3 six November 25, 2018 26.9% In determining the fair value of the investment in Windset, the Company utilizes the following significant unobservable inputs in the discounted cash flow models: At November 25, 2018 At May 27, 2018 Revenue growth rates 6% 6% Expense growth rates 6% 6% Income tax rates 15% 15% Discount rates 12% 12% The revenue growth, expense growth, and income tax rate assumptions are considered the Company's best estimate of the trends in those items over the discount period. The discount rate assumption takes into account the risk-free rate of return, the market equity risk premium, and the company’s specific risk premium and then applies an additional discount for lack of liquidity of the underlying securities. The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions (in thousands): Impact on value of investment in Windset as of November 25, 2018 10% increase in revenue growth rates $ 9,800 10% increase in expense growth rates $ (9,300 ) 10% increase in income tax rates $ (500 ) 10% increase in discount rates $ (3,700 ) Imprecision in estimating unobservable market inputs can affect the amount of gain or loss recorded for a particular position. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring basis (in thousands): Fair Value at November 25, 2018 Fair Value at May 27, 2018 Assets: Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Interest rate swap contracts $ — $ 1,512 $ — $ — $ 1,529 $ — Investment in non-public company — — 68,100 — — 66,500 Total assets $ — $ 1,512 $ 68,100 $ — $ 1,529 $ 66,500 Liabilities: Contingent consideration liability — — 3,100 — — 4,000 Total liabilities $ — $ — $ 3,100 $ — $ — $ 4,000 The following table reflects the fair value rollforward reconciliation of Level 3 six November 25, 2018 ( Windset Investment Contingent Consideration Liability Balance as of May 27, 2018 $ 66,500 $ 4,000 Fair value change 1,600 (900 ) Balance as of November 25, 2018 $ 68,100 $ 3,100
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition See Note 9 three The Company follows the five The revenue streams within the Company are consistent with those disclosed within Note 9 11 10 May 27, 2018. The Company’s standard terms of sale are included in its contracts, purchase orders, and invoices. As such, all revenue is considered revenue recognized from contracts with customers. The Company has elected to account for shipping and handling as fulfillment activities, and not 30 90 may not Occasionally, the Company enters into bill-and-hold arrangements, where it invoices the customer for products even though it retains possession of the products until a point-in-time in the future when the products will be shipped to the customer. In these contracts, the primary performance obligation is satisfied, and revenue is generally recognized, at a point-in-time when the product is segregated from the Company’s general inventory, it's ready for shipment to the customer, and the Company does not The Company disaggregates its revenue by segment product lines based on how it markets its products and reviews results of operations. The following tables disaggregate segment revenue by major product lines (in thousands): Three Months Ended Six Months Ended Natural Foods: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Salads $ 41,950 $ 44,578 $ 91,030 $ 86,626 Core vegetables 64,492 61,906 126,242 121,549 Other 3,024 1,864 4,245 3,790 Total $ 109,466 $ 108,348 $ 221,517 $ 211,965 Three Months Ended Six Months Ended Biomaterials: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Aseptic $ 8,128 $ 7,591 $ 13,894 $ 14,618 Fermentation 1,915 2,865 4,985 5,655 Development services 5,403 3,657 9,184 6,004 Total $ 15,446 $ 14,113 $ 28,063 $ 26,277
Cost of Goods and Services Sold, Policy [Policy Text block]	<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Shipping and Handling</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 36pt;">Shipping and handling costs are incurred to move the Company’s products from production and storage facilities to the customer. Handling costs are incurred from the point the product is segregated from the Company’s general inventory until it is provided to the shipper and generally include costs to store, move and prepare the products for shipment. The cost of shipping and handling services is recognized in Cost of product sales. When the costs of shipping and handling are passed on to a customer, the related amount is recorded in revenue.</div></div></div></div></div></div></div></div>" id="sjs-B18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&lt;div style="display: inline; font-weight: bold;">Shipping and Handling&lt;/div>&lt;/div> &lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;&lt;/div> &lt;div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 36pt;">Shipping and handling costs are incurred to move the Company&#x2019;s products from production and storage facilities to the customer. Handling costs are incurred from the point the product is segregated from the Company&#x2019;s general inventory until it is provided to the shipper and generally include costs to store, move and prepare the products for shipment. The cost of shipping and handling services is recognized in Cost of product sales. When the costs of shipping and handling are passed on to a customer, the related amount is recorded in revenue.&lt;/div>&lt;/div>&lt;/div>&lt;/div>&lt;/div>&lt;/div>&lt;/div>&lt;/div>
Commitments and Contingencies, Policy [Policy Text Block]	Legal Contingencies In the ordinary course of business, the Company is involved in various legal proceedings and claims. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least each fiscal quarter and adjusted to reflect the impacts of negotiations, estimate settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. Legal fees are expensed in the period in which they are incurred. Apio has been the target of a union organizing campaign which has included three 100 100 The legal actions consisted of three 1 2 3 two 100 The ULP claims were settled in fiscal year 2017 $310,000. $155,000. May 5, 2017, September 2011 $6.0 three $2.4 July 2017, $1.8 November 2017 $1.8 July 2018, one first two $4.2 $2.1 November 25, 2018, $1.9 $900,000 $1.0 December 2020. November 25, 2018, not not November 25, 2018, $1.9 As of November 25, 2018 May 27, 2018, $0 $1.0
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Guidance Recently Adopted Pronouncements Income Taxes In February 2018, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income December 2017. December 15, 2018. 2018 02 August 27, 2018. not Stock Compensation In May 2017, 2017 09, 718 Scope of Modification Accountin g, 718. December 15, 2017. 2017 09 May 28, 2018. not Restricted Cash In November 2016, 2016 18, 230 Restricted Cash 2016 18” 2016 18 2016 18 December 15, 2017, 2016 18 May 28, 2018. $325,000 Intra-Entity Transfers In November 2016, 2016 16, Intra-Entity Transfers of Assets Other Than Inventory 2016 16 December 15, 2017, May 28, 2018, Statement of Cash Flows In August 2016, 2016 15, 230 Classification of Certain Cash Receipts and Cash Payments 2016 15 May 28, 2018, Revenue Recognition In May 2014, 2014 09, 606 , Revenue from Contracts with Customers 606” 605, Revenue Recognition five The Company adopted Topic 606 May 28, 2018 606 not 606. In the notes to the consolidated financial statements, the Company has expanded its revenue recognition disclosures. Additionally, it has implemented changes to accounting policies and procedures, business processes, and controls in order to comply with the revenue recognition and disclosure requirements of Topic 606. Recently Issued Pronouncements to be Adopted Disclosure simplification In August 2018, No. 33 10532, Disclosure Update and Simplification November 5, 2018. November 5, 2018, third 2019. Cloud Computing Arrangements In August 2018, 2018 15, Customer ’ s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract 2018 15 350 40 2018 15 December 15, 2019. Hedging In August 2017, 2017 12, Targeted Improvements to Accounting for Hedging Activities 2017 12 2017 12 December 15, 2018, Financial Instruments – Credit Losses June 2016, 2016 13, Financial Instruments — Credit Losses (Topic 326 2016 13 2016 13 December 15, 2019. 2016 13 not Leases In February 2016, 2016 02, Leases (Topic 842 2016 02” 2016 02 July 2018, 2018 11— Leases (Topic 842 2016 02 2016 02 first 2020 The Company is currently in the process of evaluating the impact that ASU 2016 02 ● Reviewing the provisions of ASU 2016 02; ● Gathering information to evaluate its lease population and portfolio; ● Evaluating the nature of its real and personal property and other arrangements that may ● Systems’ readiness evaluations. As a result of these efforts, the Company currently anticipates that the adoption of ASU 2016 02 not not 2016 02

Note 1 - Organization, Basis _2

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	November 25, 2018 May 27, 2018 November 26, 2017 May 28, 2017 Cash and cash equivalents $ 1,514 $ 2,899 $ 4,602 $ 5,998 Restricted cash 325 325 325 325 Cash, discontinued operations — (8 ) (233 ) (589 ) Cash, cash equivalents and restricted cash $ 1,839 $ 3,216 $ 4,694 $ 5,734
Schedule of Inventory, Current [Table Text Block]	November 25, 2018 May 27, 2018 Raw materials $ 14,607 $ 15,286 Work in progress 3,092 3,672 Finished goods 13,929 12,861 Total $ 31,628 $ 31,819
Comprehensive Income (Loss) [Table Text Block]	AOCI Accumulated OCI, net, as of May 27, 2018 $ 1,148 Unrealized losses on interest rate swap contracts, net of tax effect (13 ) Amounts reclassified from OCI — Accumulated OCI, net, as of November 25, 2018 $ 1,135
Schedule of Effect of Significant Unobservable Inputs for Contingent Liability [Table Text Block]	<table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 66%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="3" rowspan="1" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 55%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">At November 25, 2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 1%;"> </td> <td colspan="3" rowspan="1" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 5%;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">At May 27, 2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 66%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Cost of debt</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: right;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.3%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.7%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; text-align: center;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: right;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 66%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Market price of risk adjustment</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; text-align: center;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 66%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">EBITDA volatility</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; text-align: center;"> </td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div></td> <td style="width: 5%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table></div>" id="sjs-B7">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt">&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> &lt;tr style="vertical-align: bottom;"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 66%;">&nbsp;&lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;&lt;/td> &lt;td colspan="3" rowspan="1" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 55%;"> &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">At November 25, 2018&lt;/div> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;&lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;&lt;/td> &lt;td colspan="3" rowspan="1" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 5%;"> &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">At May 27, 2018&lt;/div> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;&lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 66%;"> &lt;div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Cost of debt&lt;/div> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: right;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.3%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.7%&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: right;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;&lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 66%;"> &lt;div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Market price of risk adjustment&lt;/div> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;&lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 66%;"> &lt;div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">EBITDA volatility&lt;/div> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">&nbsp;&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%&lt;/div>&lt;/td> &lt;td style="width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; text-align: center;">&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;&lt;/div>&lt;/td> &lt;td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;&lt;/td> &lt;/tr> &lt;/table>&lt;/div>
Sensitivity Analysis [Table Text Block]	Impact on value of Contingent consideration liability as of November 25, 2018 10% increase in EBITDA forecast $ 300
Schedule of Effect of Significant Unobservable Inputs for Investment [Table Text Block]	At November 25, 2018 At May 27, 2018 Revenue growth rates 6% 6% Expense growth rates 6% 6% Income tax rates 15% 15% Discount rates 12% 12%
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]	Impact on value of investment in Windset as of November 25, 2018 10% increase in revenue growth rates $ 9,800 10% increase in expense growth rates $ (9,300 ) 10% increase in income tax rates $ (500 ) 10% increase in discount rates $ (3,700 )
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value at November 25, 2018 Fair Value at May 27, 2018 Assets: Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Interest rate swap contracts $ — $ 1,512 $ — $ — $ 1,529 $ — Investment in non-public company — — 68,100 — — 66,500 Total assets $ — $ 1,512 $ 68,100 $ — $ 1,529 $ 66,500 Liabilities: Contingent consideration liability — — 3,100 — — 4,000 Total liabilities $ — $ — $ 3,100 $ — $ — $ 4,000
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Windset Investment Contingent Consideration Liability Balance as of May 27, 2018 $ 66,500 $ 4,000 Fair value change 1,600 (900 ) Balance as of November 25, 2018 $ 68,100 $ 3,100
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended Natural Foods: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Salads $ 41,950 $ 44,578 $ 91,030 $ 86,626 Core vegetables 64,492 61,906 126,242 121,549 Other 3,024 1,864 4,245 3,790 Total $ 109,466 $ 108,348 $ 221,517 $ 211,965 Three Months Ended Six Months Ended Biomaterials: November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Aseptic $ 8,128 $ 7,591 $ 13,894 $ 14,618 Fermentation 1,915 2,865 4,985 5,655 Development services 5,403 3,657 9,184 6,004 Total $ 15,446 $ 14,113 $ 28,063 $ 26,277

Note 4 - Stock-based Compensa_2

Note 4 - Stock-based Compensation (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Options $ 223 $ 354 $ 444 $ 678 RSUs 715 762 1,222 1,388 Total stock-based compensation $ 938 $ 1,116 $ 1,666 $ 2,066 Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Cost of sales $ 117 $ 137 $ 218 $ 261 Research and development 30 23 55 42 Selling, general and administrative 791 956 1,393 1,763 Total stock-based compensation $ 938 $ 1,116 $ 1,666 $ 2,066

Note 5 - Diluted Net Income P_2

Note 5 - Diluted Net Income Per Share (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Numerator: Net (loss) income applicable to Common Stockholders $ (584 ) $ 487 $ (395 ) $ 2,633 Denominator: Weighted average shares for basic net income per share 27,764 27,518 27,751 27,512 Effect of dilutive securities: Stock options and restricted stock units — 357 — 354 Weighted average shares for diluted net income per share 27,764 27,875 27,751 27,866 Diluted net (loss) income per share $ (0.02 ) $ 0.02 $ (0.01 ) $ 0.10

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	November 25, 2018 May 27, 2018 Term loan with JPMorgan Chase Bank (“JPMorgan”), BMO Harris Bank N.A. (“BMO”), and City National Bank; due in quarterly principal and interest payments of $1,250 beginning December 1, 2016 through September 23, 2021 with the remainder due on maturity, with interest based on the Company’s leverage ratio at a per annum rate of the Eurodollar rate plus a spread of between 1.25% and 2.25% $ 40,000 $ 42,500 Total principal amount of long-term debt 40,000 42,500 Less: unamortized debt issuance costs (171 ) (200 ) Total long-term debt, net of unamortized debt issuance costs 39,829 42,300 Less: current portion of long-term debt, net (4,940 ) (4,940 ) Long-term debt, net $ 34,889 $ 37,360

Note 9 - Business Segment Rep_2

Note 9 - Business Segment Reporting (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended Six Months Ended November 25, 2018 November 26, 2017 November 25, 2018 November 26, 2017 Canada $ 20.3 $ 17.3 $ 40.2 $ 35.6 Belgium $ 0.5 $ 0.5 $ 2.5 $ 2.7 Ireland $ 1.2 $ 0.8 $ 2.3 $ 1.6 Denmark $ — $ 0.5 $ 0.2 $ 0.7 Switzerland $ 0.5 $ — $ 0.6 $ — Mexico $ 0.1 $ 0.2 $ 0.1 $ 0.3 All Other Countries $ 0.6 $ 1.1 $ 1.1 $ 1.2
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Natural Foods Biomaterials Other Total Three Months Ended November 25, 2018 Net sales $ 109,466 $ 15,446 $ — $ 124,912 International sales $ 20,367 $ 2,842 $ — $ 23,209 Gross profit $ 10,915 $ 5,678 $ — $ 16,593 Net (loss) income from continuing operations $ (418 ) $ 1,298 $ (1,464 ) $ (584 ) Depreciation and amortization $ 2,196 $ 978 $ 139 $ 3,313 Dividend income $ 412 $ — $ — $ 412 Interest income $ 30 $ — $ 3 $ 33 Interest expense, net (1) $ 276 $ — $ 470 $ 746 Income tax (benefit) expense $ (50 ) $ 432 $ (105 ) $ 277 Six Months Ended November 25, 2018 Net sales $ 221,517 $ 28,063 $ — $ 249,580 International sales $ 40,480 $ 6,558 $ — $ 47,038 Gross profit $ 24,285 $ 8,645 $ — $ 32,930 Net income (loss) from continuing operations $ 1,349 $ 751 $ (2,495 ) $ (395 ) Depreciation and amortization $ 4,236 $ 1,954 $ 268 $ 6,458 Dividend income $ 825 $ — $ — $ 825 Interest income $ 61 $ — $ 18 $ 79 Interest expense, net (1) $ 863 $ — $ 641 $ 1,504 Income tax expense (benefit) $ 612 $ 250 $ (520 ) $ 342 Three Months Ended November 26, 2017 Net sales $ 108,348 $ 14,113 $ — $ 122,461 International sales $ 17,749 $ 2,675 $ — $ 20,424 Gross profit $ 9,704 $ 5,217 $ — $ 14,921 Net (loss) income from continuing operations $ (435 ) $ 1,260 $ (411 ) $ 414 Depreciation and amortization $ 1,958 $ 910 $ 112 $ 2,980 Dividend income $ 412 $ — $ — $ 412 Interest income $ 18 $ — $ 24 $ 42 Interest expense, net $ — $ — $ 480 $ 480 Income tax (benefit) expense $ (95 ) $ 374 $ (114 ) $ 165 Six Months Ended November 26, 2017 Net sales $ 211,965 $ 26,277 $ — $ 238,242 International sales $ 35,923 $ 6,174 $ — $ 42,097 Gross profit $ 24,984 $ 8,739 $ — $ 33,723 Net income (loss) from continuing operations $ 3,166 $ 1,105 $ (1,502 ) $ 2,769 Depreciation and amortization $ 3,930 $ 1,775 $ 229 $ 5,934 Dividend income $ 825 $ — $ — $ 825 Interest income $ 28 $ — $ 45 $ 73 Interest expense, net $ — $ — $ 884 $ 884 Income tax expense $ 1,002 $ 347 $ 126 $ 1,475

Note 10 - Discontinued Operat_2

Note 10 - Discontinued Operations (Tables)	6 Months Ended
	Nov. 25, 2018
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Period Ended November 25, 2018 May 27, 2018 Current and other assets, discontinued operations: Cash and cash equivalents $ — $ (8 ) Accounts receivable — 518 Inventory — — Other assets — — Total assets, discontinued operations $ — $ 510 Other current liabilities, discontinued operations: Accounts payable $ — $ 230 Accrued expenses and other current liabilities — 228 Total other current liabilities, discontinued operations $ — $ 458 Three Months Ended November 26, 2017 Six Months Ended November 26, 2017 Revenues $ 13,996 $ 21,572 Cost of sales (13,165 ) (20,257 ) Selling, general and administrative (690 ) (1,377 ) Other — — Income (loss) from discontinued operations, before taxes 141 (62 ) Income tax (expense) benefit (42 ) 18 Income (loss) from discontinued operations, net of tax $ 99 $ (44 )

Note 1 - Organization, Basis _3

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Details Textual)	May 05, 2017USD ($)	Jul. 31, 2018USD ($)	Nov. 30, 2017USD ($)	Jul. 31, 2017USD ($)	Nov. 25, 2018USD ($)	Aug. 26, 2018	Nov. 26, 2017USD ($)	Nov. 22, 2017USD ($)	Nov. 25, 2018USD ($)	Nov. 26, 2017USD ($)	May 28, 2017USD ($)	May 27, 2018USD ($)	Jul. 15, 2014
Number of Proprietary Platforms					2				2
Restricted Cash, Total					$ 325,000		$ 325,000		$ 325,000	$ 325,000	$ 325,000	$ 325,000
Debt Issuance Costs, Current, Net, Total					60,000				60,000			60,000
Debt Issuance Costs, Noncurrent, Net, Total					110,000				$ 110,000			140,000
Number of Operating Segments						3			3
Legal Actions Against Apio [Member]
Loss Contingency Accrual, Ending Balance					$ 0				$ 0			1,000,000
Unfair Labor Practice Claims [Member]
Litigation Settlement, Amount Awarded to Other Party											310,000
Discrimination and Wrongful Termination and Wage and Hour Claims [Member]
Litigation Settlement, Amount Awarded to Other Party	$ 6,000,000
Payments for Legal Settlements		$ 1,800,000	$ 1,800,000	$ 2,400,000				$ 4,200,000
Apio [Member] | Legal Actions Against Apio [Member]
Loss Contingency, Number of Plaintiffs									100
Apio [Member] | Unfair Labor Practice Claims [Member]
Litigation Settlement, Amount Awarded to Other Party											$ 155,000
Windset [Member]
Investment Ownership Percentage					26.90%				26.90%				26.90%
Pacific Harvest [Member] | Discrimination and Wrongful Termination and Wage and Hour Claims [Member]
Litigation Settlement, Amount to be Reimbursed								$ 2,100,000
Litigation Settlement Receivable Outstanding					$ 1,900,000				$ 1,900,000
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life									11 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life									13 years
Prepaid Expenses and Other Current Assets [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net, Total					120,000				$ 120,000			120,000
Prepaid Expenses and Other Current Assets [Member] | Pacific Harvest [Member] | Discrimination and Wrongful Termination and Wage and Hour Claims [Member]
Litigation Settlement Receivable Outstanding					900,000				900,000
Other Assets [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net, Total					218,000				218,000			278,000
Other Assets [Member] | Pacific Harvest [Member] | Discrimination and Wrongful Termination and Wage and Hour Claims [Member]
Litigation Settlement Receivable Outstanding					1,000,000				1,000,000
Windset [Member]
Accounts Receivable, Related Parties, Current					207,000				207,000			$ 334,000
Windset [Member] | Cost of Sales [Member]
Revenue from Related Parties					109,000		$ 91,000		244,000	$ 195,000
Related Party Costs					$ 0				$ 6,000

Note 1 - Organization, Basis _4

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents (Details) - USD ($)		Nov. 25, 2018	May 27, 2018	Nov. 26, 2017	May 28, 2017
Cash and cash equivalents		$ 1,514,000	$ 2,899,000	$ 4,602,000	$ 5,998,000
Restricted cash		325,000	325,000	325,000	325,000
Cash, discontinued operations			(8,000)	(233,000)	(589,000)
Cash, cash equivalents and restricted cash	[1]	$ 1,839,000	$ 3,216,000	$ 4,694,000	$ 5,734,000
[1]	As a result of adopting ASU 2016-18, the Company now is required to include restricted cash as part of the change in the total cash balance. Accordingly, cash and cash equivalents at the beginning-of-period and end-of-period total amounts have been adjusted to include $325,000 of restricted cash for each of the periods presented. Refer to Note 1, "Recently Adopted Accounting Pronouncements," in the Notes to Condensed Consolidated Financial Statements for more information.

Note 1 - Organization, Basis _5

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Components of Inventories (Details) - USD ($) $ in Thousands	Nov. 25, 2018	May 27, 2018
Raw materials	$ 14,607	$ 15,286
Work in progress	3,092	3,672
Finished goods	13,929	12,861
Total	$ 31,628	$ 31,819

Note 1 - Organization, Basis _6

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Components of Other Comprehensive Income (Details) $ in Thousands	6 Months Ended
	Nov. 25, 2018USD ($)
Balance	$ 252,562
Balance	253,573
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Balance	1,148
Unrealized losses on interest rate swap contracts, net of tax effect	(13)
Amounts reclassified from OCI
Balance	$ 1,135

Note 1 - Organization, Basis _7

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Contingent Consideration Liability (Details)	Nov. 25, 2018	May 27, 2018
Measurement Input, Cost of Debt [Member] | Minimum [Member]
Measurement Input	0.053	0.047
Measurement Input, Cost of Debt [Member] | Maximum [Member]
Measurement Input	0.057	0.052
Measurement Input, Market Price, Risk Adjustment [Member]
Measurement Input	0.2	0.2
Measurement Input, EBITDA Volatility [Member]
Measurement Input	0.24	0.25

Note 1 - Organization, Basis _8

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Sensitivity Analysis (Details) $ in Millions	Nov. 25, 2018USD ($)
10% increase in EBITDA forecast	$ 0.3

Note 1 - Organization, Basis _9

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Significant Unobservable Inputs Used in Discounted Cash Flow Models for Investment (Details) - Windset [Member]	3 Months Ended	12 Months Ended
	Nov. 25, 2018	May 27, 2018
Measurement Input, Long-term Revenue Growth Rate [Member]
Measurement input	0.06	0.06
Measurement Input, Long-term Expense Growth Rate [Member]
Measurement input	0.06	0.06
Measurement Input, Income Tax Rates [Member]
Measurement input	0.15	0.15
Measurement Input, Discount Rate [Member]
Measurement input	0.12	0.12

Note 1 - Organization, Basis_10

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Assumptions for Investment Used in Discounted Cash Flow Models (Details) $ in Millions	Nov. 25, 2018USD ($)
10% increase in revenue growth rates	$ 9.8
10% increase in expense growth rates	(9.3)
10% increase in income tax rates	(0.5)
10% increase in discount rates	$ (3.7)

Note 1 - Organization, Basis_11

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 25, 2018	May 27, 2018
Investment in non-public company	$ 68,100	$ 66,500
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap contracts
Investment in non-public company
Total assets
Contingent consideration liability
Total liabilities
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap contracts	1,512	1,529
Investment in non-public company
Total assets	1,512	1,529
Contingent consideration liability
Total liabilities
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap contracts
Investment in non-public company	68,100	66,500
Total assets	68,100	66,500
Contingent consideration liability	3,100	4,000
Total liabilities	$ 3,100	$ 4,000

Note 1 - Organization, Basis_12

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Fair Value Reconciliation of Level 3 (Details) $ in Thousands	6 Months Ended
	Nov. 25, 2018USD ($)
Balance	$ 66,500
Balance	68,100
Windset Investment [Member]
Balance	66,500
Fair value change	1,600
Balance	68,100
Contingent Consideration Liability [Member]
Balance	4,000
Fair value change	(900)
Balance	$ 3,100

Note 1 - Organization, Basis_13

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Product sales	$ 124,912	$ 122,461	$ 249,580	$ 238,242
Natural Foods [Member]
Product sales	109,466	108,348	221,517	211,965
Biomaterials [Member]
Product sales	15,446	14,113	28,063	26,277
Salads [Member] | Natural Foods [Member]
Product sales	41,950	44,578	91,030	86,626
Aseptic [Member] | Biomaterials [Member]
Product sales	8,128	7,591	13,894	14,618
Core Vegetables [Member] | Natural Foods [Member]
Product sales	64,492	61,906	126,242	121,549
Fermentation [Member] | Biomaterials [Member]
Product sales	1,915	2,865	4,985	5,655
Other [Member] | Natural Foods [Member]
Product sales	3,024	1,864	4,245	3,790
Development Services [Member] | Biomaterials [Member]
Product sales	$ 5,403	$ 3,657	$ 9,184	$ 6,004

Note 2 - Acquisition of O (Deta

Note 2 - Acquisition of O (Details Textual) - USD ($)	Mar. 01, 2017	Nov. 25, 2018	Nov. 25, 2018	Nov. 26, 2017	May 27, 2018
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			$ (900,000)
O Olive & Vinegar [Member]
Payments to Acquire Businesses, Gross	$ 2,500,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 7,500,000
Cumulative EBITDA Amount					$ 6,000,000
Business Combination, Contingent Consideration, Liability, Total		$ 3,100,000	3,100,000		4,000,000
O Olive & Vinegar [Member] | Selling, General and Administrative Expenses [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ 900,000	$ 900,000
O Olive & Vinegar [Member] | Initial Potential Payment Limit [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					4,600,000
O Olive & Vinegar [Member] | Additional Potential Payment Limit [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					$ 2,900,000

Note 3 - Investment in Non-pu_2

Note 3 - Investment in Non-public Company (Details Textual) - USD ($)	Jul. 15, 2014	Jul. 15, 2014	Feb. 15, 2011	Oct. 29, 2014	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Investment Income, Dividend					$ 412,000	$ 412,000	$ 825,000	$ 825,000
Senior A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	7.50%
Windset [Member]
Investment Ownership Percentage	26.90%	26.90%			26.90%		26.90%
Investment Income, Dividend					$ 412,500	412,500	$ 825,000	825,000
Windset [Member] | Other Income [Member]
Change In Market Value Of Investment In Company					600,000	$ 1,300,000	1,600,000	$ 2,200,000
Windset [Member] | Apio [Member]
Payments to Acquire Investments, Total		$ 11,000,000
Dividends on Investment, Timeframe to Be Paid After Anniversary	90 days
Investment, Preferred Stock, Liquidation Preference, Value					20,100,000		20,100,000
Windset [Member] | Apio [Member] | Junior Preferred Shares [Member]
Investment, Preferred Stock, Dividends Declared					0		0
Investment, Preferred Stock, Liquidation Preference, Value					5,100,000		5,100,000
Windset [Member] | Apio [Member] | Senior A Preferred Stock [Member]
Investment, Preferred Stock, Liquidation Preference, Value					$ 15,000,000		$ 15,000,000
Windset [Member] | Apio [Member] | Senior A Preferred Stock [Member]
Investment In Non Public Company Shares			150,000
Payments to Acquire Investments, Total			$ 15,000,000
Windset [Member] | Apio [Member] | Common Stock [Member]
Investment In Non Public Company Shares	68	68	201
Payments to Acquire Investments, Total			$ 201
Windset [Member] | Apio [Member] | Junior Preferred Shares [Member]
Investment In Non Public Company Shares	51,211	51,211
Windset [Member] | Apio [Member] | Senior B Preferred Stock [Member]
Investment In Non Public Company Shares				70,000
Payments to Acquire Investments, Total				$ 7,000,000
Preferred Stock, Dividend Rate, Percentage				7.50%

Note 4 - Stock-based Compensa_3

Note 4 - Stock-based Compensation (Details Textual) $ in Millions	6 Months Ended
	Nov. 25, 2018USD ($)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 5.9
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 328 days
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 73 days

Note 4 - Stock-based Compensa_4

Note 4 - Stock-based Compensation - Summary of Stock-based Compensation by Income Statement Line Item (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Stock-based compensation expense	$ 938	$ 1,116	$ 1,666	$ 2,066
Cost of Sales [Member]
Stock-based compensation expense	117	137	218	261
Research and Development Expense [Member]
Stock-based compensation expense	30	23	55	42
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	791	956	1,393	1,763
Employee Stock Option [Member]
Stock-based compensation expense	223	354	444	678
Restricted Stock Units (RSUs) [Member]
Stock-based compensation expense	$ 715	$ 762	$ 1,222	$ 1,388

Note 5 - Diluted Net Income P_3

Note 5 - Diluted Net Income Per Share (Details Textual) - shares shares in Millions	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.5	1.3	1.4	1.4

Note 5 - Diluted Net Income P_4

Note 5 - Diluted Net Income Per Share - Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Numerator:
Net (loss) income applicable to Common Stockholders	$ (584)	$ 487	$ (395)	$ 2,633
Denominator:
Weighted average shares for basic net income per share (in shares)	27,764	27,518	27,751	27,512
Effect of dilutive securities:
Stock options and restricted stock units (in shares)		357		354
Weighted average shares for diluted net income per share (in shares)	27,764	27,875	27,751	27,866
Diluted net (loss) income per share (in dollars per share)	$ (0.02)	$ 0.02	$ (0.01)	$ 0.10

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017	May 27, 2018	May 28, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			25.00%	35.00%	29.40%	35.00%
Tax Cuts And Jobs Act Of 2017 Measurement Period Adjustment Income Tax Expense Benefit	$ 347,000		$ 347,000
Income Tax Expense (Benefit), Total	277,000	$ 165,000	342,000	$ 1,475,000
Unrecognized Tax Benefits, Ending Balance	582,000		582,000		$ 479,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 507,000		$ 507,000		$ 372,000

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($)	Sep. 23, 2016	Nov. 25, 2018	Jun. 25, 2018	May 27, 2018	Nov. 01, 2016
Long-term Debt, Total		$ 39,829,000		$ 42,300,000
Debt Issuance Costs, Net, Total		171,000		$ 200,000
Interest Rate Swap [Member] | BMO [Member]
Derivative, Notional Amount			$ 30,000,000		$ 50,000,000
London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Swap [Member] | BMO [Member]
Derivative, Fixed Interest Rate			2.74%		1.22%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member]
Debt Instrument, Additional Borrowing Amount	$ 75,000,000
Debt Issuance Costs, Net, Total	$ 897,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Term Loan [Member]
Long-term Debt, Total	$ 50,000,000
Debt Instrument, Term	5 years
Debt Instrument, Periodic Payment, Total	$ 1,250,000
Debt Issuance Costs, Net, Total	299,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	100,000,000
Debt Issuance Costs, Net, Total	$ 598,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Long-term Line of Credit, Total		$ 42,000,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility, Interest Rate at Period End		4.30%

Note 7 - Debt - Long-term Debt

Note 7 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Nov. 25, 2018	May 27, 2018
Long-term debt	$ 40,000	$ 42,500
Less: unamortized debt issuance costs	(171)	(200)
Total long-term debt, net of unamortized debt issuance costs	39,829	42,300
Less: current portion of long-term debt, net	(4,940)	(4,940)
Long-term debt, net	34,889	37,360
Term Loan [Member]
Long-term debt	$ 40,000	$ 42,500

Note 7 - Debt - Long-term Deb_2

Note 7 - Debt - Long-term Debt (Details) (Parentheticals) - Term Loan [Member] - USD ($) $ in Thousands	Nov. 25, 2018	May 27, 2018
Periodic payment	$ 1,250	$ 1,250
Minimum [Member]
Interest rate	1.25%	1.25%
Maximum [Member]
Interest rate	2.25%	2.25%

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Details Textual) $ in Millions	3 Months Ended	6 Months Ended
	Nov. 25, 2018USD ($)shares	Nov. 25, 2018USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	45,000	175,000
Common Stock, Capital Shares Reserved for Future Issuance	2,700,000	2,700,000
Stock Repurchase Program, Authorized Amount | $	$ 10	$ 10
Treasury Stock, Shares, Acquired		0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	19,000	254,000

Note 9 - Business Segment Rep_3

Note 9 - Business Segment Reporting (Details Textual)	3 Months Ended	6 Months Ended
	Aug. 26, 2018	Nov. 25, 2018	Nov. 26, 2017
Number of Operating Segments	3	3
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Entity Wide Revenue Major Customer Number		5	5
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Natural Foods [Member]
Entity Wide Revenue Major Customer Number		2	2
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Top Five Customers [Member]
Concentration Risk, Percentage		45.00%	49.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Costco [Member] | Natural Foods [Member]
Concentration Risk, Percentage		17.00%	19.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Wal-mart [Member] | Natural Foods [Member]
Concentration Risk, Percentage		17.00%	18.00%

Note 9 - Business Segment Rep_4

Note 9 - Business Segment Reporting - Sales by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Segment sales	$ 124,912	$ 122,461	$ 249,580	$ 238,242
CANADA
Segment sales	20,300	17,300	40,200	35,600
BELGIUM
Segment sales	500	500	2,500	2,700
IRELAND
Segment sales	1,200	800	2,300	1,600
DENMARK
Segment sales		500	200	700
SWITZERLAND
Segment sales	500		600
MEXICO
Segment sales	100	200	100	300
All Other Countries [Member]
Segment sales	$ 600	$ 1,100	$ 1,100	$ 1,200

Note 9 - Business Segment Rep_5

Note 9 - Business Segment Reporting - Operations by Business Segment (Details) - USD ($)	3 Months Ended			6 Months Ended
	Nov. 25, 2018		Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017
Net sales	$ 124,912,000		$ 122,461,000	$ 249,580,000	$ 238,242,000
Gross profit	16,593,000		14,921,000	32,930,000	33,723,000
Net (loss) income from continuing operations	(584,000)		414,000	(395,000)	2,769,000
Depreciation and amortization	3,313,000		2,980,000	6,458,000	5,934,000
Dividend income	412,000		412,000	825,000	825,000
Interest income	33,000		42,000	79,000	73,000
Interest expense, net (1)	746,000	[1]	480,000	1,504,000	884,000
Income tax (benefit) expense	277,000		165,000	342,000	1,475,000
International [Member]
Net sales	23,209,000		20,424,000	47,038,000	42,097,000
Natural Foods [Member]
Net sales	109,466,000		108,348,000	221,517,000	211,965,000
Gross profit	10,915,000		9,704,000	24,285,000	24,984,000
Net (loss) income from continuing operations	(418,000)		(435,000)	1,349,000	3,166,000
Depreciation and amortization	2,196,000		1,958,000	4,236,000	3,930,000
Dividend income	412,000		412,000	825,000	825,000
Interest income	30,000		18,000	61,000	28,000
Interest expense, net (1)	276,000	[1]		863,000
Income tax (benefit) expense	(50,000)		(95,000)	612,000	1,002,000
Natural Foods [Member] | International [Member]
Net sales	20,367,000		17,749,000	40,480,000	35,923,000
Biomaterials [Member]
Net sales	15,446,000		14,113,000	28,063,000	26,277,000
Gross profit	5,678,000		5,217,000	8,645,000	8,739,000
Net (loss) income from continuing operations	1,298,000		1,260,000	751,000	1,105,000
Depreciation and amortization	978,000		910,000	1,954,000	1,775,000
Dividend income
Interest income
Interest expense, net (1)		[1]
Income tax (benefit) expense	432,000		374,000	250,000	347,000
Biomaterials [Member] | International [Member]
Net sales	2,842,000		2,675,000	6,558,000	6,174,000
Other Segments [Member]
Net sales
Gross profit
Net (loss) income from continuing operations	(1,464,000)		(411,000)	(2,495,000)	(1,502,000)
Depreciation and amortization	139,000		112,000	268,000	229,000
Dividend income
Interest income	3,000		24,000	18,000	45,000
Interest expense, net (1)	470,000	[1]	480,000	641,000	884,000
Income tax (benefit) expense	(105,000)		(114,000)	(520,000)	126,000
Other Segments [Member] | International [Member]
Net sales
[1]	Beginning in first quarter of fiscal 2019, the Company began allocating interest expense to its reportable segments in information provided to its CODM to enhance visibility into how financing activities impact the discrete financial results.

Note 10 - Discontinued Operat_3

Note 10 - Discontinued Operations - Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 25, 2018	Nov. 26, 2017	Nov. 25, 2018	Nov. 26, 2017	May 27, 2018	May 28, 2017
Cash, discontinued operations		$ (233)		$ (233)	$ (8)	$ (589)
Income (loss) from discontinued operations, before taxes		141		(62)
Income tax (expense) benefit		42		(18)
Income (loss) from discontinued operations, net of tax		99		(44)
Discontinued Operations [Member] | Food Export [Member]
Cash, discontinued operations					(8)
Accounts receivable					518
Inventory
Other assets
Total assets, discontinued operations					510
Accounts payable					230
Accrued expenses and other current liabilities					228
Total other current liabilities, discontinued operations					$ 458
Revenues		13,996		21,572
Cost of sales		(13,165)		(20,257)
Selling, general and administrative		(690)		(1,377)
Other
Income (loss) from discontinued operations, before taxes		141		(62)
Income tax (expense) benefit		(42)		18
Income (loss) from discontinued operations, net of tax		$ 99		$ (44)

Note 11 - Subsequent Event (Det

Note 11 - Subsequent Event (Details Textual) - USD ($)	Dec. 01, 2018	Nov. 30, 2018	Sep. 23, 2016	Nov. 25, 2018	May 27, 2018
Long-term Debt, Total				$ 39,829,000	$ 42,300,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member]
Debt Instrument, Additional Borrowing Amount			$ 75,000,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			2.25%
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 100,000,000
Credit Agreement With JPMorgan Chase, BMO Harris Bank, and City National Bank [Member] | Term Loan [Member]
Long-term Debt, Total			50,000,000
Debt Instrument, Periodic Payment, Total			$ 1,250,000
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity, Additional Amount		$ 55,000,000
Debt Instrument Covenant, Maximum Leverage Ratio		4.50
Debt Instrument, Additional Borrowing Amount		$ 10,000,000
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.25%
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.25%
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.25%
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.25%
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Term Loan [Member]
Debt Instrument, Periodic Payment, Total		$ 2,500,000
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		105,000,000
Subsequent Event [Member] | Forth Amendment Credit Agreement With JP Morgan Chase BMO Harris Bank And City National Bank [Member] | Term Loan [Member]
Long-term Debt, Total		$ 100,000,000
Yucatan Foods, LP and Camden Fruit Corporation [Member] | Subsequent Event [Member]
Payments to Acquire Businesses, Gross	$ 60,000,000
Yucatan Foods, LP and Camden Fruit Corporation [Member] | Subsequent Event [Member] | Common Stock [Member]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 20,000,000
Yucatan Foods, LP and Camden Fruit Corporation [Member] | Subsequent Event [Member] | First 50% of the Stock Consideration [Member]
Stock Consideration, Lock-up Provision	3 years
Yucatan Foods, LP and Camden Fruit Corporation [Member] | Subsequent Event [Member] | Second 50% of the Stock Consideration [Member]
Stock Consideration, Lock-up Provision	4 years