$MEI
METHODE ELECTRONICS INC

2013 Q4 Form 10-Q Financial Statement

#000006527013000048 Filed on December 05, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $190.9M $129.7M
YoY Change 47.19% 11.92%
Cost Of Revenue $149.5M $107.5M
YoY Change 39.11% 13.16%
Gross Profit $41.40M $22.30M
YoY Change 85.65% 6.61%
Gross Profit Margin 21.69% 17.19%
Selling, General & Admin $19.70M $15.18M
YoY Change 29.8% -16.97%
% of Gross Profit 47.58% 68.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.700M $4.500M
YoY Change 26.67% 12.5%
% of Gross Profit 13.77% 20.18%
Operating Expenses $19.70M $15.18M
YoY Change 29.8% -16.97%
Operating Profit $21.70M $27.12M
YoY Change -19.97% 927.08%
Interest Expense -$100.0K -$100.0K
YoY Change 0.0%
% of Operating Profit -0.46% -0.37%
Other Income/Expense, Net -$400.0K -$536.0K
YoY Change -25.37% 176.29%
Pretax Income $21.20M $26.53M
YoY Change -20.08% 984.91%
Income Tax $1.400M $3.234M
% Of Pretax Income 6.6% 12.19%
Net Earnings $19.80M $23.30M
YoY Change -15.02% 7391.96%
Net Earnings / Revenue 10.37% 17.96%
Basic Earnings Per Share $0.52 $0.62
Diluted Earnings Per Share $0.51 $0.62
COMMON SHARES
Basic Shares Outstanding 37.72M shares 37.41M shares
Diluted Shares Outstanding 38.49M shares 37.98M shares

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.80M $77.00M
YoY Change 14.03% 1.99%
Cash & Equivalents $87.80M $77.00M
Short-Term Investments
Other Short-Term Assets $13.50M $12.40M
YoY Change 8.87% -2.36%
Inventory $68.63M $50.82M
Prepaid Expenses
Receivables $147.5M $107.9M
Other Receivables $200.0K $600.0K
Total Short-Term Assets $317.6M $248.7M
YoY Change 27.72% 10.1%
LONG-TERM ASSETS
Property, Plant & Equipment $102.9M $89.88M
YoY Change 14.44% 34.18%
Goodwill $12.96M $17.22M
YoY Change -24.75% 4.83%
Intangibles $15.63M $17.48M
YoY Change -10.62% -0.29%
Long-Term Investments
YoY Change
Other Assets $37.32M $37.03M
YoY Change 0.8% 35.55%
Total Long-Term Assets $82.04M $83.83M
YoY Change -2.13% 8.37%
TOTAL ASSETS
Total Short-Term Assets $317.6M $248.7M
Total Long-Term Assets $82.04M $83.83M
Total Assets $502.5M $422.4M
YoY Change 18.97% 14.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $78.41M $56.75M
YoY Change 38.18% 39.38%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $106.6M $89.63M
YoY Change 18.89% 34.53%
LONG-TERM LIABILITIES
Long-Term Debt $51.50M $46.00M
YoY Change 11.96% 26.03%
Other Long-Term Liabilities $3.281M $3.322M
YoY Change -1.23% -30.69%
Total Long-Term Liabilities $3.281M $3.322M
YoY Change -1.23% -30.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $106.6M $89.63M
Total Long-Term Liabilities $3.281M $3.322M
Total Liabilities $109.8M $92.95M
YoY Change 18.17% 30.15%
SHAREHOLDERS EQUITY
Retained Earnings $212.6M $176.1M
YoY Change 20.72% 15.37%
Common Stock $104.9M $98.59M
YoY Change 6.45% 4.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.38M $11.38M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.342M shares 1.342M shares
Shareholders Equity $329.9M $277.6M
YoY Change
Total Liabilities & Shareholders Equity $502.5M $422.4M
YoY Change 18.97% 14.09%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $19.80M $23.30M
YoY Change -15.02% 7391.96%
Depreciation, Depletion And Amortization $5.700M $4.500M
YoY Change 26.67% 12.5%
Cash From Operating Activities $22.10M $16.50M
YoY Change 33.94% -443.75%
INVESTING ACTIVITIES
Capital Expenditures -$7.200M -$12.20M
YoY Change -40.98% 171.11%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.400M
YoY Change -100.0% -78.13%
Cash From Investing Activities -$7.200M -$13.60M
YoY Change -47.06% 24.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.300M -13.10M
YoY Change -82.44% -289.86%
NET CHANGE
Cash From Operating Activities 22.10M 16.50M
Cash From Investing Activities -7.200M -13.60M
Cash From Financing Activities -2.300M -13.10M
Net Change In Cash 12.60M -10.20M
YoY Change -223.53% 15.91%
FREE CASH FLOW
Cash From Operating Activities $22.10M $16.50M
Capital Expenditures -$7.200M -$12.20M
Free Cash Flow $29.30M $28.70M
YoY Change 2.09% -9666.67%

Facts In Submission

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CY2012Q4 us-gaap Profit Loss
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23292000 USD
us-gaap Profit Loss
ProfitLoss
27119000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
317107000 USD
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
297255000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
102858000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
212559000 USD
CY2012Q4 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
CY2013Q4 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
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
129758000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
190914000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
358180000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
248496000 USD
CY2012Q4 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
129758000 USD
CY2013Q4 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
190914000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
358180000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
248496000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
38502000 USD
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19649000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32474000 USD
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15177000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1888000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1747000 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
27000 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
241673 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
329931000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
289371000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-03
CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
289584000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
330199000 USD
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
393000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
72000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
518072 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
712802 shares
CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
767727 shares
CY2012Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
562069 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37920732 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38486370 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38348040 shares
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37975559 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37635238 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37402660 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37718643 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37413490 shares
CY2013Q4 mei Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsExcludingGoodwillGross
42472000 USD
CY2013Q2 mei Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsExcludingGoodwillGross
42472000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
7000 USD
CY2013Q4 mei Interest Expense Income Net
InterestExpenseIncomeNet
117000 USD
CY2012Q4 mei Interest Expense Income Net
InterestExpenseIncomeNet
53000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
177000 USD
CY2013Q2 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
326000 USD
CY2013Q4 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
269000 USD
CY2013Q2 mei Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
9459000 USD
CY2013Q4 mei Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
9956000 USD
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2013-10-26
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000065270
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
37382338 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
METHODE ELECTRONICS INC

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Financial_Report.xlsx Edgar Link pending
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