$MEI
METHODE ELECTRONICS INC

2012 Q4 Form 10-Q Financial Statement

#000006527012000041 Filed on December 06, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $129.7M $118.7M $115.9M
YoY Change 11.92% 7.13% 7.59%
Cost Of Revenue $107.5M $97.27M $94.97M
YoY Change 13.16% 7.1% 12.96%
Gross Profit $22.30M $21.50M $20.92M
YoY Change 6.61% 7.61% -11.53%
Gross Profit Margin 17.19% 18.11% 18.05%
Selling, General & Admin $15.18M $17.30M $18.28M
YoY Change -16.97% -6.82% -14.16%
% of Gross Profit 68.06% 80.45% 87.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.500M $3.910M $4.000M
YoY Change 12.5% 13.7% 8.11%
% of Gross Profit 20.18% 18.19% 19.12%
Operating Expenses $15.18M $17.30M $18.28M
YoY Change -16.97% -6.82% -14.16%
Operating Profit $27.12M $4.170M $2.640M
YoY Change 927.08% 194.08% 11.35%
Interest Expense -$100.0K $0.00 $0.00
YoY Change -100.0%
% of Operating Profit -0.37% 0.0% 0.0%
Other Income/Expense, Net -$536.0K $41.00K -$194.0K
YoY Change 176.29% -4.65% -90.45%
Pretax Income $26.53M $4.257M $2.445M
YoY Change 984.91% 192.18% 779.5%
Income Tax $3.234M $430.0K $2.221M
% Of Pretax Income 12.19% 10.1% 90.84%
Net Earnings $23.30M $3.900M $311.0K
YoY Change 7391.96% 161.04% -160.62%
Net Earnings / Revenue 17.96% 3.29% 0.27%
Basic Earnings Per Share $0.62 $0.10 $0.01
Diluted Earnings Per Share $0.62 $0.10 $0.01
COMMON SHARES
Basic Shares Outstanding 37.41M shares 37.39M shares 37.31M shares
Diluted Shares Outstanding 37.98M shares 37.89M shares 37.52M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.00M $85.10M $75.50M
YoY Change 1.99% 0.83% -2.2%
Cash & Equivalents $77.00M $85.15M $75.55M
Short-Term Investments
Other Short-Term Assets $12.40M $12.30M $12.70M
YoY Change -2.36% -5.38% 39.56%
Inventory $50.82M $47.36M $40.58M
Prepaid Expenses
Receivables $107.9M $94.68M $96.09M
Other Receivables $600.0K $600.0K $900.0K
Total Short-Term Assets $248.7M $240.2M $225.9M
YoY Change 10.1% 7.86% 4.76%
LONG-TERM ASSETS
Property, Plant & Equipment $89.88M $81.45M $66.99M
YoY Change 34.18% 31.61% 8.92%
Goodwill $17.22M $16.42M $16.42M
YoY Change 4.83% 0.0%
Intangibles $17.48M $16.22M $17.53M
YoY Change -0.29% -9.72%
Long-Term Investments
YoY Change
Other Assets $37.03M $36.82M $27.32M
YoY Change 35.55% 34.64% -18.46%
Total Long-Term Assets $83.83M $83.86M $77.36M
YoY Change 8.37% 9.4% -38.02%
TOTAL ASSETS
Total Short-Term Assets $248.7M $240.2M $225.9M
Total Long-Term Assets $83.83M $83.86M $77.36M
Total Assets $422.4M $405.5M $370.2M
YoY Change 14.09% 12.26% 8.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $56.75M $54.04M $40.71M
YoY Change 39.38% 43.06% 12.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $89.63M $89.80M $66.62M
YoY Change 34.53% 38.59% -18.95%
LONG-TERM LIABILITIES
Long-Term Debt $46.00M $56.50M $36.50M
YoY Change 26.03% 109.26%
Other Long-Term Liabilities $3.322M $3.378M $4.793M
YoY Change -30.69% -36.01% -64.76%
Total Long-Term Liabilities $3.322M $3.378M $4.793M
YoY Change -30.69% -36.01% -64.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.63M $89.80M $66.62M
Total Long-Term Liabilities $3.322M $3.378M $4.793M
Total Liabilities $92.95M $93.18M $71.42M
YoY Change 30.15% 32.97% -27.93%
SHAREHOLDERS EQUITY
Retained Earnings $176.1M $155.3M $152.6M
YoY Change 15.37% 0.26%
Common Stock $98.59M $97.83M $94.77M
YoY Change 4.03% 4.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.38M $11.38M $11.38M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.342M shares 1.342M shares 1.342M shares
Shareholders Equity $277.6M $250.4M $256.9M
YoY Change
Total Liabilities & Shareholders Equity $422.4M $405.5M $370.2M
YoY Change 14.09% 12.26% 8.75%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $23.30M $3.900M $311.0K
YoY Change 7391.96% 161.04% -160.62%
Depreciation, Depletion And Amortization $4.500M $3.910M $4.000M
YoY Change 12.5% 13.7% 8.11%
Cash From Operating Activities $16.50M $6.187M -$4.800M
YoY Change -443.75% -4.83% -180.0%
INVESTING ACTIVITIES
Capital Expenditures -$12.20M $11.42M -$4.500M
YoY Change 171.11% 150.71% 25.0%
Acquisitions
YoY Change
Other Investing Activities -$1.400M -$6.400M
YoY Change -78.13% -500.0%
Cash From Investing Activities -$13.60M -$11.42M -$10.90M
YoY Change 24.77% 150.71% 419.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -13.10M $5.908M 6.900M
YoY Change -289.86% -75.99% -55.48%
NET CHANGE
Cash From Operating Activities 16.50M $6.187M -4.800M
Cash From Investing Activities -13.60M -$11.42M -10.90M
Cash From Financing Activities -13.10M $5.908M 6.900M
Net Change In Cash -10.20M $680.0K -8.800M
YoY Change 15.91% -97.44% -145.36%
FREE CASH FLOW
Cash From Operating Activities $16.50M $6.187M -$4.800M
Capital Expenditures -$12.20M $11.42M -$4.500M
Free Cash Flow $28.70M -$5.228M -$300.0K
YoY Change -9666.67% -368.38% -103.13%

Facts In Submission

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CY2011Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-194000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5181000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5187000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6353000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1434000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9125000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23557000 USD
CY2012Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
16215000 USD
CY2012Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
12101000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
24500000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
36500000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
198000 USD
CY2011Q4 us-gaap Profit Loss
ProfitLoss
224000 USD
us-gaap Profit Loss
ProfitLoss
1661000 USD
CY2012Q4 us-gaap Profit Loss
ProfitLoss
23292000 USD
us-gaap Profit Loss
ProfitLoss
27119000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
283863000 USD
CY2012Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
277451000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89883000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
77152000 USD
CY2012Q4 us-gaap Redeemable Noncontrolling Interest Equity Other Carrying Amount
RedeemableNoncontrollingInterestEquityOtherCarryingAmount
170000 USD
CY2012Q2 us-gaap Redeemable Noncontrolling Interest Equity Other Carrying Amount
RedeemableNoncontrollingInterestEquityOtherCarryingAmount
333000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
26500000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
154008000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
176072000 USD
CY2011Q4 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
CY2012Q4 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
115890000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
226695000 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
129758000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
248496000 USD
CY2011Q4 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
115890000 USD
CY2012Q4 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
129758000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37516998 shares
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
248496000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
226695000 USD
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15177000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32474000 USD
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18278000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
36840000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1747000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1959000 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
28860 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
27000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21975 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
255044000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
277615000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
277822000 USD
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
255224000 USD
CY2012Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
66000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
62000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
518072 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
223400 shares
CY2012Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
562069 shares
CY2011Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
210357 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37520247 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37920732 shares
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37975559 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37402660 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37309890 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37413490 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37293598 shares
CY2012Q2 mei Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsExcludingGoodwillGross
41249000 USD
CY2012Q4 mei Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsExcludingGoodwillGross
42414000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
7000 USD
CY2012Q4 mei Interest Expense Income Net
InterestExpenseIncomeNet
53000 USD
CY2011Q4 mei Interest Expense Income Net
InterestExpenseIncomeNet
1000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
5000 USD
CY2012Q4 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
566000 USD
CY2012Q2 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
1015000 USD
CY2012Q4 mei Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
8920000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-27
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2012-10-27
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000065270
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
37060490 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
METHODE ELECTRONICS INC

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Financial_Report.xls Edgar Link pending
mei-20121027.xml Edgar Link completed
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