$MEI
METHODE ELECTRONICS INC

2018 Q3 Form 10-Q Financial Statement

#000006527018000029 Filed on August 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $223.4M $201.2M
YoY Change 11.03% 4.85%
Cost Of Revenue $163.3M $145.6M
YoY Change 12.16% 5.66%
Gross Profit $60.10M $55.60M
YoY Change 8.09% 2.77%
Gross Profit Margin 26.9% 27.63%
Selling, General & Admin $29.50M $29.60M
YoY Change -0.34% 10.45%
% of Gross Profit 49.08% 53.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.500M $5.000M
YoY Change 30.0% -3.85%
% of Gross Profit 10.82% 8.99%
Operating Expenses $29.50M $29.60M
YoY Change -0.34% 10.45%
Operating Profit $28.70M $25.40M
YoY Change 12.99% -4.87%
Interest Expense $200.0K -$200.0K
YoY Change -200.0%
% of Operating Profit 0.7% -0.79%
Other Income/Expense, Net -$300.0K -$800.0K
YoY Change -62.5%
Pretax Income $28.20M $24.80M
YoY Change 13.71% -7.12%
Income Tax $4.500M $4.300M
% Of Pretax Income 15.96% 17.34%
Net Earnings $23.70M $20.50M
YoY Change 15.61% -3.3%
Net Earnings / Revenue 10.61% 10.19%
Basic Earnings Per Share $0.63 $0.55
Diluted Earnings Per Share $0.63 $0.55
COMMON SHARES
Basic Shares Outstanding 37.35M shares 37.25M shares
Diluted Shares Outstanding 37.64M shares 37.56M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $228.5M $297.9M
YoY Change -23.3% 19.49%
Cash & Equivalents $228.5M $297.9M
Short-Term Investments
Other Short-Term Assets $15.90M $19.10M
YoY Change -16.75% 15.06%
Inventory $88.50M $64.80M
Prepaid Expenses
Receivables $181.1M $164.5M
Other Receivables $9.900M $600.0K
Total Short-Term Assets $523.9M $546.9M
YoY Change -4.21% 12.09%
LONG-TERM ASSETS
Property, Plant & Equipment $165.3M $117.4M
YoY Change 40.8% 30.01%
Goodwill $58.80M $18.00M
YoY Change 226.67% 958.82%
Intangibles $58.20M $18.10M
YoY Change 221.55% 115.48%
Long-Term Investments
YoY Change
Other Assets $203.6M $119.1M
YoY Change 70.95% 565.36%
Total Long-Term Assets $368.9M $236.5M
YoY Change 55.98% 203.59%
TOTAL ASSETS
Total Short-Term Assets $523.9M $546.9M
Total Long-Term Assets $368.9M $236.5M
Total Assets $892.8M $783.4M
YoY Change 13.96% 19.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $79.00M $81.20M
YoY Change -2.71% 17.17%
Accrued Expenses $39.00M $35.40M
YoY Change 10.17%
Deferred Revenue
YoY Change
Short-Term Debt $3.900M $3.800M
YoY Change 2.63%
Long-Term Debt Due $3.900M $3.800M
YoY Change 2.63%
Total Short-Term Liabilities $136.8M $126.5M
YoY Change 8.14% 20.25%
LONG-TERM LIABILITIES
Long-Term Debt $49.20M $47.60M
YoY Change 3.36% -11.85%
Other Long-Term Liabilities $4.400M $6.400M
YoY Change -31.25% 146.15%
Total Long-Term Liabilities $4.400M $6.400M
YoY Change -31.25% 146.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $136.8M $126.5M
Total Long-Term Liabilities $4.400M $6.400M
Total Liabilities $260.6M $194.0M
YoY Change 34.33% 79.96%
SHAREHOLDERS EQUITY
Retained Earnings $490.0M $446.6M
YoY Change 9.72% 18.71%
Common Stock $19.20M $19.10M
YoY Change 0.52% -85.99%
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 $632.2M $589.4M
YoY Change
Total Liabilities & Shareholders Equity $892.8M $783.4M
YoY Change 13.96% 19.4%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $23.70M $20.50M
YoY Change 15.61% -3.3%
Depreciation, Depletion And Amortization $6.500M $5.000M
YoY Change 30.0% -3.85%
Cash From Operating Activities $20.00M $23.60M
YoY Change -15.25% -31.4%
INVESTING ACTIVITIES
Capital Expenditures $18.20M $8.000M
YoY Change 127.5% 90.48%
Acquisitions $0.00 $22.20M
YoY Change -100.0%
Other Investing Activities $0.00 -$21.90M
YoY Change -100.0%
Cash From Investing Activities -$18.20M -$29.90M
YoY Change -39.13% 611.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.400M -$5.700M
YoY Change 64.91% 5.56%
NET CHANGE
Cash From Operating Activities $20.00M $23.60M
Cash From Investing Activities -$18.20M -$29.90M
Cash From Financing Activities -$9.400M -$5.700M
Net Change In Cash -$17.60M -$12.00M
YoY Change 46.67% -148.39%
FREE CASH FLOW
Cash From Operating Activities $20.00M $23.60M
Capital Expenditures $18.20M $8.000M
Free Cash Flow $1.800M $15.60M
YoY Change -88.46% -48.34%

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PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
9500000 USD
CY2017Q3 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
300000 USD
CY2018Q3 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
0 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
434700000 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
437700000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
162200000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
165300000 USD
CY2017Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2000000 USD
CY2018Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3600000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
472000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
490000000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
201200000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
223400000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29600000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29500000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4100000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2000000 USD
CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
4400000 USD
CY2018Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
3900000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
630000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
632200000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
312551 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
287058 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37561240 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37637502 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37248689 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37350444 shares

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