$MEI
METHODE ELECTRONICS INC

2015 Q1 Form 10-Q Financial Statement

#000006527015000007 Filed on March 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $206.0M $189.8M
YoY Change 8.54% 54.31%
Cost Of Revenue $149.8M $151.3M
YoY Change -0.99% 46.97%
Gross Profit $56.20M $38.50M
YoY Change 45.97% 92.5%
Gross Profit Margin 27.28% 20.28%
Selling, General & Admin $21.50M $22.10M
YoY Change -2.71% 40.09%
% of Gross Profit 38.26% 57.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M $5.800M
YoY Change -5.17% 41.46%
% of Gross Profit 9.79% 15.06%
Operating Expenses $21.50M $22.10M
YoY Change -2.71% 40.09%
Operating Profit $34.70M $16.40M
YoY Change 111.59% 285.25%
Interest Expense $200.0K -$100.0K
YoY Change -300.0%
% of Operating Profit 0.58% -0.61%
Other Income/Expense, Net $300.0K -$300.0K
YoY Change -200.0% 163.16%
Pretax Income $35.20M $16.00M
YoY Change 120.0% 288.07%
Income Tax $8.100M $1.400M
% Of Pretax Income 23.01% 8.75%
Net Earnings $27.10M $14.60M
YoY Change 85.62% 342.42%
Net Earnings / Revenue 13.16% 7.69%
Basic Earnings Per Share $0.69
Diluted Earnings Per Share $0.68 $379.2K
COMMON SHARES
Basic Shares Outstanding 38.79M shares 39.26M shares
Diluted Shares Outstanding 39.62M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.8M $96.80M
YoY Change 73.35% 31.88%
Cash & Equivalents $167.8M $96.80M
Short-Term Investments
Other Short-Term Assets $18.20M $13.90M
YoY Change 30.94% 20.87%
Inventory $83.90M $79.21M
Prepaid Expenses
Receivables $145.2M $134.9M
Other Receivables $0.00 $200.0K
Total Short-Term Assets $415.1M $325.0M
YoY Change 27.72% 39.21%
LONG-TERM ASSETS
Property, Plant & Equipment $92.70M $102.7M
YoY Change -9.7% 9.93%
Goodwill $12.80M $12.94M
YoY Change -1.04% -24.8%
Intangibles $11.70M $13.00M
YoY Change -10.0% -23.74%
Long-Term Investments
YoY Change
Other Assets $20.40M $36.83M
YoY Change -44.61% -0.89%
Total Long-Term Assets $79.80M $79.56M
YoY Change 0.3% -5.56%
TOTAL ASSETS
Total Short-Term Assets $415.1M $325.0M
Total Long-Term Assets $79.80M $79.56M
Total Assets $587.6M $507.2M
YoY Change 15.85% 23.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.30M $70.89M
YoY Change 4.81% 52.54%
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 $125.2M $98.86M
YoY Change 26.64% 25.27%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $50.00M
YoY Change -60.0% 25.0%
Other Long-Term Liabilities $4.600M $3.416M
YoY Change 34.66% 1.21%
Total Long-Term Liabilities $4.600M $3.416M
YoY Change 34.66% 1.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $125.2M $98.86M
Total Long-Term Liabilities $4.600M $3.416M
Total Liabilities $129.8M $102.3M
YoY Change 26.91% 24.29%
SHAREHOLDERS EQUITY
Retained Earnings $333.3M $224.5M
YoY Change 48.46% 26.98%
Common Stock $116.7M $108.3M
YoY Change 7.75% 9.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.38M
YoY Change 1.08% 0.0%
Treasury Stock Shares 1.347M shares 1.342M shares
Shareholders Equity $430.6M $341.8M
YoY Change
Total Liabilities & Shareholders Equity $587.6M $507.2M
YoY Change 15.85% 23.38%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $27.10M $14.60M
YoY Change 85.62% 342.42%
Depreciation, Depletion And Amortization $5.500M $5.800M
YoY Change -5.17% 41.46%
Cash From Operating Activities $45.40M $18.60M
YoY Change 144.09% 82.35%
INVESTING ACTIVITIES
Capital Expenditures -$2.000M -$7.000M
YoY Change -71.43% 9.38%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$2.000M -$7.000M
YoY Change -71.43% 9.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.40M -1.500M
YoY Change 793.33% -82.56%
NET CHANGE
Cash From Operating Activities 45.40M 18.60M
Cash From Investing Activities -2.000M -7.000M
Cash From Financing Activities -13.40M -1.500M
Net Change In Cash 30.00M 10.10M
YoY Change 197.03% -310.42%
FREE CASH FLOW
Cash From Operating Activities $45.40M $18.60M
Capital Expenditures -$2.000M -$7.000M
Free Cash Flow $47.40M $25.60M
YoY Change 85.16% 54.22%

Facts In Submission

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RepaymentsOfDebt
28600000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
28000000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
269200000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
333300000 USD
us-gaap Revenues
Revenues
189800000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
189800000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
547900000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
206000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
653800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22100000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60600000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
69100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3500000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-2700000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
391900000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
430600000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
392200000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
430900000 USD
CY2014Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1342188 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2014Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11400000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
800000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
422357 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
342686 shares
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
824331 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
645100 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
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39615541 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39289513 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38051772 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37780506 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38791210 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38644413 shares

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