$MEI
METHODE ELECTRONICS INC

2017 Q4 Form 10-Q Financial Statement

#000006527017000038 Filed on December 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $230.1M $209.3M
YoY Change 9.94% 0.43%
Cost Of Revenue $168.1M $153.7M
YoY Change 9.37% -2.41%
Gross Profit $62.00M $55.60M
YoY Change 11.51% 9.23%
Gross Profit Margin 26.94% 26.56%
Selling, General & Admin $31.20M $25.90M
YoY Change 20.46% 5.71%
% of Gross Profit 50.32% 46.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.300M $5.900M
YoY Change 23.73% 1.72%
% of Gross Profit 11.77% 10.61%
Operating Expenses $31.20M $25.90M
YoY Change 20.46% 5.71%
Operating Profit $29.70M $29.10M
YoY Change 2.06% 10.23%
Interest Expense -$200.0K $100.0K
YoY Change -300.0% -66.67%
% of Operating Profit -0.67% 0.34%
Other Income/Expense, Net -$400.0K $1.900M
YoY Change -121.05% 850.0%
Pretax Income $29.10M $31.10M
YoY Change -6.43% 15.61%
Income Tax $4.900M $6.200M
% Of Pretax Income 16.84% 19.94%
Net Earnings $24.20M $24.90M
YoY Change -2.81% 17.45%
Net Earnings / Revenue 10.52% 11.9%
Basic Earnings Per Share $0.65 $0.66
Diluted Earnings Per Share $0.64 $0.66
COMMON SHARES
Basic Shares Outstanding 37.28M shares 37.35M shares
Diluted Shares Outstanding 37.67M shares 37.54M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $258.6M $249.6M
YoY Change 3.61% 33.76%
Cash & Equivalents $258.6M $249.6M
Short-Term Investments
Other Short-Term Assets $15.90M $14.90M
YoY Change 6.71% -54.01%
Inventory $78.40M $60.60M
Prepaid Expenses
Receivables $215.4M $172.0M
Other Receivables $600.0K $0.00
Total Short-Term Assets $568.9M $497.1M
YoY Change 14.44% 10.37%
LONG-TERM ASSETS
Property, Plant & Equipment $126.9M $88.80M
YoY Change 42.91% -1.88%
Goodwill $66.80M $1.600M
YoY Change 4075.0% 0.0%
Intangibles $56.60M $7.800M
YoY Change 625.64% -22.77%
Long-Term Investments
YoY Change
Other Assets $202.5M $18.90M
YoY Change 971.43% -0.53%
Total Long-Term Assets $329.4M $80.60M
YoY Change 308.68% 16.81%
TOTAL ASSETS
Total Short-Term Assets $568.9M $497.1M
Total Long-Term Assets $329.4M $80.60M
Total Assets $898.3M $666.5M
YoY Change 34.78% 9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.30M $75.90M
YoY Change 30.83% 6.6%
Accrued Expenses $40.60M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.300M $0.00
YoY Change
Long-Term Debt Due $2.300M
YoY Change
Total Short-Term Liabilities $152.3M $113.9M
YoY Change 33.71% 2.15%
LONG-TERM LIABILITIES
Long-Term Debt $105.5M $49.00M
YoY Change 115.31% 122.73%
Other Long-Term Liabilities $8.300M $2.400M
YoY Change 245.83% -38.46%
Total Long-Term Liabilities $8.300M $2.400M
YoY Change 245.83% -38.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.3M $113.9M
Total Long-Term Liabilities $8.300M $2.400M
Total Liabilities $291.5M $116.3M
YoY Change 150.64% 0.78%
SHAREHOLDERS EQUITY
Retained Earnings $467.4M $387.2M
YoY Change 20.71% 6.34%
Common Stock $19.10M $140.2M
YoY Change -86.38% 9.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.50M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.347M shares 1.347M shares
Shareholders Equity $606.8M $492.8M
YoY Change
Total Liabilities & Shareholders Equity $898.3M $666.5M
YoY Change 34.78% 9.28%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $24.20M $24.90M
YoY Change -2.81% 17.45%
Depreciation, Depletion And Amortization $7.300M $5.900M
YoY Change 23.73% 1.72%
Cash From Operating Activities $21.60M $29.30M
YoY Change -26.28% -2.66%
INVESTING ACTIVITIES
Capital Expenditures -$8.400M -$5.300M
YoY Change 58.49% 47.22%
Acquisitions
YoY Change
Other Investing Activities -$107.7M
YoY Change
Cash From Investing Activities -$116.1M -$5.300M
YoY Change 2090.57% 47.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.90M -18.10M
YoY Change -414.36% 187.3%
NET CHANGE
Cash From Operating Activities 21.60M 29.30M
Cash From Investing Activities -116.1M -5.300M
Cash From Financing Activities 56.90M -18.10M
Net Change In Cash -37.60M 5.900M
YoY Change -737.29% -70.79%
FREE CASH FLOW
Cash From Operating Activities $21.60M $29.30M
Capital Expenditures -$8.400M -$5.300M
Free Cash Flow $30.00M $34.60M
YoY Change -13.29% 2.67%

Facts In Submission

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PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6600000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
300000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
129900000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6800000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1100000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16400000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12500000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15900000 USD
CY2017Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
15500000 USD
CY2017Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
14300000 USD
CY2017Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
7100000 USD
CY2017Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
6400000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
61100000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
0 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
300000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1500000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
336700000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
390000000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90600000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
126900000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2800000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
427000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
467400000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
209300000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
401100000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
230100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
431300000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25900000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52800000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31200000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7200000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2300000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
541100000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
606800000 USD
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
187827 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
156234 shares
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
384600 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
363545 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37541250 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37494219 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37668100 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37629640 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37353423 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37337985 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37283500 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37266095 shares

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