$MEI
METHODE ELECTRONICS INC

2016 Q1 Form 10-Q Financial Statement

#000006527016000045 Filed on March 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $184.6M $206.0M
YoY Change -10.39% 8.54%
Cost Of Revenue $137.0M $149.8M
YoY Change -8.54% -0.99%
Gross Profit $47.60M $56.20M
YoY Change -15.3% 45.97%
Gross Profit Margin 25.79% 27.28%
Selling, General & Admin $26.10M $21.50M
YoY Change 21.4% -2.71%
% of Gross Profit 54.83% 38.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.800M $5.500M
YoY Change 5.45% -5.17%
% of Gross Profit 12.18% 9.79%
Operating Expenses $26.10M $21.50M
YoY Change 21.4% -2.71%
Operating Profit $21.50M $34.70M
YoY Change -38.04% 111.59%
Interest Expense $200.0K $200.0K
YoY Change 0.0% -300.0%
% of Operating Profit 0.93% 0.58%
Other Income/Expense, Net $1.000M $300.0K
YoY Change 233.33% -200.0%
Pretax Income $22.70M $35.20M
YoY Change -35.51% 120.0%
Income Tax $5.500M $8.100M
% Of Pretax Income 24.23% 23.01%
Net Earnings $17.20M $27.10M
YoY Change -36.53% 85.62%
Net Earnings / Revenue 9.32% 13.16%
Basic Earnings Per Share $0.45 $0.69
Diluted Earnings Per Share $0.45 $0.68
COMMON SHARES
Basic Shares Outstanding 38.16M shares 38.79M shares
Diluted Shares Outstanding 38.28M shares 39.62M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.3M $167.8M
YoY Change 20.56% 73.35%
Cash & Equivalents $202.3M $167.8M
Short-Term Investments
Other Short-Term Assets $32.40M $18.20M
YoY Change 78.02% 30.94%
Inventory $72.40M $83.90M
Prepaid Expenses
Receivables $146.6M $145.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $453.7M $415.1M
YoY Change 9.3% 27.72%
LONG-TERM ASSETS
Property, Plant & Equipment $91.90M $92.70M
YoY Change -0.86% -9.7%
Goodwill $1.600M $12.80M
YoY Change -87.5% -1.04%
Intangibles $9.500M $11.70M
YoY Change -18.8% -10.0%
Long-Term Investments
YoY Change
Other Assets $18.40M $20.40M
YoY Change -9.8% -44.61%
Total Long-Term Assets $67.00M $79.80M
YoY Change -16.04% 0.3%
TOTAL ASSETS
Total Short-Term Assets $453.7M $415.1M
Total Long-Term Assets $67.00M $79.80M
Total Assets $612.6M $587.6M
YoY Change 4.25% 15.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.30M $74.30M
YoY Change -13.46% 4.81%
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 $109.3M $125.2M
YoY Change -12.7% 26.64%
LONG-TERM LIABILITIES
Long-Term Debt $55.00M $20.00M
YoY Change 175.0% -60.0%
Other Long-Term Liabilities $3.400M $4.600M
YoY Change -26.09% 34.66%
Total Long-Term Liabilities $3.400M $4.600M
YoY Change -26.09% 34.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.3M $125.2M
Total Long-Term Liabilities $3.400M $4.600M
Total Liabilities $112.7M $129.8M
YoY Change -13.17% 26.91%
SHAREHOLDERS EQUITY
Retained Earnings $341.6M $333.3M
YoY Change 2.49% 48.46%
Common Stock $130.6M $116.7M
YoY Change 11.91% 7.75%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.50M
YoY Change 0.0% 1.08%
Treasury Stock Shares 1.347M shares 1.347M shares
Shareholders Equity $437.1M $430.6M
YoY Change
Total Liabilities & Shareholders Equity $612.6M $587.6M
YoY Change 4.25% 15.85%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $17.20M $27.10M
YoY Change -36.53% 85.62%
Depreciation, Depletion And Amortization $5.800M $5.500M
YoY Change 5.45% -5.17%
Cash From Operating Activities $34.70M $45.40M
YoY Change -23.57% 144.09%
INVESTING ACTIVITIES
Capital Expenditures -$7.700M -$2.000M
YoY Change 285.0% -71.43%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.700M -$2.000M
YoY Change 285.0% -71.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.200M -13.40M
YoY Change -46.27% 793.33%
NET CHANGE
Cash From Operating Activities 34.70M 45.40M
Cash From Investing Activities -7.700M -2.000M
Cash From Financing Activities -7.200M -13.40M
Net Change In Cash 19.80M 30.00M
YoY Change -34.0% 197.03%
FREE CASH FLOW
Cash From Operating Activities $34.70M $45.40M
Capital Expenditures -$7.700M -$2.000M
Free Cash Flow $42.40M $47.40M
YoY Change -10.55% 85.16%

Facts In Submission

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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
63000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6300000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17200000 USD
CY2015Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
10500000 USD
CY2016Q1 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
10400000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
27100000 USD
us-gaap Profit Loss
ProfitLoss
74500000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
17200000 USD
us-gaap Profit Loss
ProfitLoss
62000000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
309200000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000 USD
CY2016Q1 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
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
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118442 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
128137 shares
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
316900000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
93300000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
91900000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
28000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
13000000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
356500000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
341600000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
206000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
653800000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
184600000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
596300000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
69100000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26100000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
73700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3500000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4800000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-3800000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
458800000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
437100000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
459000000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
437100000 USD
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
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
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38278231 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38790624 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
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38159789 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38662487 shares

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