$MEI
METHODE ELECTRONICS INC

2015 Q4 Form 10-Q Financial Statement

#000006527015000038 Filed on December 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $208.4M $229.7M
YoY Change -9.27% 20.32%
Cost Of Revenue $157.5M $169.5M
YoY Change -7.08% 13.38%
Gross Profit $50.90M $60.20M
YoY Change -15.45% 45.41%
Gross Profit Margin 24.42% 26.21%
Selling, General & Admin $24.50M $25.40M
YoY Change -3.54% 28.93%
% of Gross Profit 48.13% 42.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.800M $6.000M
YoY Change -3.33% 5.26%
% of Gross Profit 11.39% 9.97%
Operating Expenses $24.50M $25.40M
YoY Change -3.54% 28.93%
Operating Profit $26.40M $34.80M
YoY Change -24.14% 60.37%
Interest Expense $300.0K $100.0K
YoY Change 200.0% -200.0%
% of Operating Profit 1.14% 0.29%
Other Income/Expense, Net $200.0K -$200.0K
YoY Change -200.0% -50.0%
Pretax Income $26.90M $34.70M
YoY Change -22.48% 63.68%
Income Tax $5.700M $8.700M
% Of Pretax Income 21.19% 25.07%
Net Earnings $21.20M $26.00M
YoY Change -18.46% 31.31%
Net Earnings / Revenue 10.17% 11.32%
Basic Earnings Per Share $0.55 $0.67
Diluted Earnings Per Share $0.54 $0.66
COMMON SHARES
Basic Shares Outstanding 38.97M shares 38.69M shares
Diluted Shares Outstanding 39.08M shares 39.52M shares

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.6M $144.2M
YoY Change 29.4% 64.24%
Cash & Equivalents $186.6M $144.2M
Short-Term Investments
Other Short-Term Assets $32.40M $20.80M
YoY Change 55.77% 54.07%
Inventory $66.20M $75.40M
Prepaid Expenses
Receivables $165.2M $172.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $450.4M $412.8M
YoY Change 9.11% 29.98%
LONG-TERM ASSETS
Property, Plant & Equipment $90.50M $96.60M
YoY Change -6.31% -6.08%
Goodwill $1.600M $12.90M
YoY Change -87.6% -0.42%
Intangibles $10.10M $12.20M
YoY Change -17.21% -21.92%
Long-Term Investments
YoY Change
Other Assets $19.00M $20.20M
YoY Change -5.94% -45.88%
Total Long-Term Assets $69.00M $84.10M
YoY Change -17.95% 2.51%
TOTAL ASSETS
Total Short-Term Assets $450.4M $412.8M
Total Long-Term Assets $69.00M $84.10M
Total Assets $609.9M $593.5M
YoY Change 2.76% 18.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.20M $82.40M
YoY Change -13.59% 5.09%
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 $111.5M $130.0M
YoY Change -14.23% 22.0%
LONG-TERM LIABILITIES
Long-Term Debt $22.00M $30.00M
YoY Change -26.67% -41.75%
Other Long-Term Liabilities $3.900M $4.200M
YoY Change -7.14% 28.01%
Total Long-Term Liabilities $3.900M $4.200M
YoY Change -7.14% 28.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.5M $130.0M
Total Long-Term Liabilities $3.900M $4.200M
Total Liabilities $115.4M $134.2M
YoY Change -14.01% 22.18%
SHAREHOLDERS EQUITY
Retained Earnings $364.1M $309.7M
YoY Change 17.57% 45.7%
Common Stock $128.4M $115.5M
YoY Change 11.17% 10.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.50M
YoY Change 0.0% 1.08%
Treasury Stock Shares 1.347M shares 1.342M shares
Shareholders Equity $464.6M $422.3M
YoY Change
Total Liabilities & Shareholders Equity $609.9M $593.5M
YoY Change 2.76% 18.11%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $21.20M $26.00M
YoY Change -18.46% 31.31%
Depreciation, Depletion And Amortization $5.800M $6.000M
YoY Change -3.33% 5.26%
Cash From Operating Activities $30.10M $30.00M
YoY Change 0.33% 35.75%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$7.500M
YoY Change -52.0% 4.17%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.600M -$7.500M
YoY Change -52.0% 4.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.300M -9.700M
YoY Change -35.05% 321.74%
NET CHANGE
Cash From Operating Activities 30.10M 30.00M
Cash From Investing Activities -3.600M -7.500M
Cash From Financing Activities -6.300M -9.700M
Net Change In Cash 20.20M 12.80M
YoY Change 57.81% 1.59%
FREE CASH FLOW
Cash From Operating Activities $30.10M $30.00M
Capital Expenditures -$3.600M -$7.500M
Free Cash Flow $33.70M $37.50M
YoY Change -10.13% 27.99%

Facts In Submission

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PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
10500000 USD
CY2015Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
9400000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6300000 USD
CY2014Q4 us-gaap Profit Loss
ProfitLoss
26000000 USD
us-gaap Profit Loss
ProfitLoss
47400000 USD
CY2015Q4 us-gaap Profit Loss
ProfitLoss
21200000 USD
us-gaap Profit Loss
ProfitLoss
44800000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
309200000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
313500000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
93300000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8000000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
356500000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
364100000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
229700000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
447800000 USD
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
208400000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
411700000 USD
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47600000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2200000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-3800000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
458800000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
464600000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
459000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
464700000 USD
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000 USD
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
821853 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
467632 shares
CY2015Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
104909 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
117588 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39516436 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39038647 shares
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39077839 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39031424 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38694583 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38571015 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38972930 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38913836 shares

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