$MEI
METHODE ELECTRONICS INC

2014 Q1 Form 10-Q Financial Statement

#000006527014000013 Filed on March 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $189.8M $123.0M
YoY Change 54.31% 9.82%
Cost Of Revenue $151.3M $102.9M
YoY Change 46.97% 11.0%
Gross Profit $38.50M $20.00M
YoY Change 92.5% 3.87%
Gross Profit Margin 20.28% 16.26%
Selling, General & Admin $22.10M $15.78M
YoY Change 40.09% -6.31%
% of Gross Profit 57.4% 78.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.800M $4.100M
YoY Change 41.46% 0.0%
% of Gross Profit 15.06% 20.5%
Operating Expenses $22.10M $15.78M
YoY Change 40.09% -6.31%
Operating Profit $16.40M $4.257M
YoY Change 285.25% 76.2%
Interest Expense -$100.0K $0.00
YoY Change -100.0%
% of Operating Profit -0.61% 0.0%
Other Income/Expense, Net -$300.0K -$114.0K
YoY Change 163.16% -81.46%
Pretax Income $16.00M $4.123M
YoY Change 288.07% 109.82%
Income Tax $1.400M $855.0K
% Of Pretax Income 8.75% 20.74%
Net Earnings $14.60M $3.300M
YoY Change 342.42% 307.91%
Net Earnings / Revenue 7.69% 2.68%
Basic Earnings Per Share $0.09
Diluted Earnings Per Share $379.2K $0.09
COMMON SHARES
Basic Shares Outstanding 39.26M shares 37.41M shares
Diluted Shares Outstanding 38.00M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.80M $73.40M
YoY Change 31.88% -4.43%
Cash & Equivalents $96.80M $73.38M
Short-Term Investments
Other Short-Term Assets $13.90M $11.50M
YoY Change 20.87% -4.96%
Inventory $79.21M $53.78M
Prepaid Expenses
Receivables $134.9M $94.42M
Other Receivables $200.0K $500.0K
Total Short-Term Assets $325.0M $233.5M
YoY Change 39.21% 6.2%
LONG-TERM ASSETS
Property, Plant & Equipment $102.7M $93.38M
YoY Change 9.93% 34.95%
Goodwill $12.94M $17.20M
YoY Change -24.8% 4.74%
Intangibles $13.00M $17.05M
YoY Change -23.74% -0.1%
Long-Term Investments
YoY Change
Other Assets $36.83M $37.16M
YoY Change -0.89% 36.67%
Total Long-Term Assets $79.56M $84.25M
YoY Change -5.56% 6.6%
TOTAL ASSETS
Total Short-Term Assets $325.0M $233.5M
Total Long-Term Assets $79.56M $84.25M
Total Assets $507.2M $411.1M
YoY Change 23.38% 11.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $70.89M $46.47M
YoY Change 52.54% 11.51%
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 $98.86M $78.92M
YoY Change 25.27% 14.95%
LONG-TERM LIABILITIES
Long-Term Debt $50.00M $40.00M
YoY Change 25.0% 1.27%
Other Long-Term Liabilities $3.416M $3.375M
YoY Change 1.21% -22.82%
Total Long-Term Liabilities $3.416M $3.375M
YoY Change 1.21% -22.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.86M $78.92M
Total Long-Term Liabilities $3.416M $3.375M
Total Liabilities $102.3M $82.29M
YoY Change 24.29% 12.69%
SHAREHOLDERS EQUITY
Retained Earnings $224.5M $176.8M
YoY Change 26.98% 17.22%
Common Stock $108.3M $99.31M
YoY Change 9.06% 3.53%
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 $341.8M $282.9M
YoY Change
Total Liabilities & Shareholders Equity $507.2M $411.1M
YoY Change 23.38% 11.69%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $14.60M $3.300M
YoY Change 342.42% 307.91%
Depreciation, Depletion And Amortization $5.800M $4.100M
YoY Change 41.46% 0.0%
Cash From Operating Activities $18.60M $10.20M
YoY Change 82.35% 0.0%
INVESTING ACTIVITIES
Capital Expenditures -$7.000M -$6.400M
YoY Change 9.38% -14.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.000M -$6.400M
YoY Change 9.38% -14.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.500M -8.600M
YoY Change -82.56% -2250.0%
NET CHANGE
Cash From Operating Activities 18.60M 10.20M
Cash From Investing Activities -7.000M -6.400M
Cash From Financing Activities -1.500M -8.600M
Net Change In Cash 10.10M -4.800M
YoY Change -310.42% -254.84%
FREE CASH FLOW
Cash From Operating Activities $18.60M $10.20M
Capital Expenditures -$7.000M -$6.400M
Free Cash Flow $25.60M $16.60M
YoY Change 54.22% -6.21%

Facts In Submission

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us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0 USD
us-gaap Sales Revenue Net
SalesRevenueNet
371478000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
189753000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
547933000 USD
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
122982000 USD
CY2013Q1 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
122982000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
189753000 USD
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
547933000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22103000 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15776000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48250000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60606000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2596000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2472000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
289371000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
341824000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
342082000 USD
CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
289584000 USD
CY2014Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2014Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11377000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
532000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
78000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
342686 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
422357 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
531624 shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
581802 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37937894 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38474129 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38123192 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37995292 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37413490 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37780506 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38051772 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37406270 shares
CY2014Q1 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
CY2013Q1 mei Interest Expense Income Net
InterestExpenseIncomeNet
20000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
88000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
27000 USD
mei Interest Expense Income Net
InterestExpenseIncomeNet
265000 USD
CY2014Q1 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
252000 USD
CY2013Q2 mei Prepaid And Refundable Income Taxes
PrepaidAndRefundableIncomeTaxes
326000 USD
CY2014Q1 mei Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
10466000 USD
CY2013Q2 mei Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
9459000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-03
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-02-01
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000065270
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
39262168 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
METHODE ELECTRONICS INC

Files In Submission

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0000065270-14-000013-index-headers.html Edgar Link pending
0000065270-14-000013-index.html Edgar Link pending
0000065270-14-000013.txt Edgar Link pending
0000065270-14-000013-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mei-20140201.xml Edgar Link completed
mei-20140201.xsd Edgar Link pending
mei-20140201_cal.xml Edgar Link unprocessable
mei-20140201_def.xml Edgar Link unprocessable
mei-20140201_lab.xml Edgar Link unprocessable
mei-20140201_pre.xml Edgar Link unprocessable
mei0201201410qq3.htm Edgar Link pending
meiexhibit31102012014.htm Edgar Link pending
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