$MEI
METHODE ELECTRONICS INC

2018 Q4 Form 10-Q Financial Statement

#000006527018000041 Filed on December 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $264.0M $230.1M
YoY Change 14.73% 9.94%
Cost Of Revenue $193.2M $168.1M
YoY Change 14.93% 9.37%
Gross Profit $70.80M $62.00M
YoY Change 14.19% 11.51%
Gross Profit Margin 26.82% 26.94%
Selling, General & Admin $48.00M $31.20M
YoY Change 53.85% 20.46%
% of Gross Profit 67.8% 50.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.300M $7.300M
YoY Change -13.7% 23.73%
% of Gross Profit 8.9% 11.77%
Operating Expenses $48.00M $31.20M
YoY Change 53.85% 20.46%
Operating Profit $19.10M $29.70M
YoY Change -35.69% 2.06%
Interest Expense -$1.600M -$200.0K
YoY Change 700.0% -300.0%
% of Operating Profit -8.38% -0.67%
Other Income/Expense, Net $100.0K -$400.0K
YoY Change -125.0% -121.05%
Pretax Income $17.60M $29.10M
YoY Change -39.52% -6.43%
Income Tax $3.000M $4.900M
% Of Pretax Income 17.05% 16.84%
Net Earnings $14.60M $24.20M
YoY Change -39.67% -2.81%
Net Earnings / Revenue 5.53% 10.52%
Basic Earnings Per Share $0.39 $0.65
Diluted Earnings Per Share $0.39 $0.64
COMMON SHARES
Basic Shares Outstanding 37.41M shares 37.28M shares
Diluted Shares Outstanding 37.67M shares 37.67M shares

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.9M $258.6M
YoY Change -57.12% 3.61%
Cash & Equivalents $110.9M $258.6M
Short-Term Investments
Other Short-Term Assets $21.70M $15.90M
YoY Change 36.48% 6.71%
Inventory $118.3M $78.40M
Prepaid Expenses
Receivables $229.8M $215.4M
Other Receivables $10.40M $600.0K
Total Short-Term Assets $491.1M $568.9M
YoY Change -13.68% 14.44%
LONG-TERM ASSETS
Property, Plant & Equipment $187.9M $126.9M
YoY Change 48.07% 42.91%
Goodwill $233.9M $66.80M
YoY Change 250.15% 4075.0%
Intangibles $275.1M $56.60M
YoY Change 386.04% 625.64%
Long-Term Investments
YoY Change
Other Assets $591.5M $202.5M
YoY Change 192.1% 971.43%
Total Long-Term Assets $779.4M $329.4M
YoY Change 136.61% 308.68%
TOTAL ASSETS
Total Short-Term Assets $491.1M $568.9M
Total Long-Term Assets $779.4M $329.4M
Total Assets $1.271B $898.3M
YoY Change 41.43% 34.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $105.6M $99.30M
YoY Change 6.34% 30.83%
Accrued Expenses $54.50M $40.60M
YoY Change 34.24%
Deferred Revenue
YoY Change
Short-Term Debt $15.30M $2.300M
YoY Change 565.22%
Long-Term Debt Due $15.30M $2.300M
YoY Change 565.22%
Total Short-Term Liabilities $192.2M $152.3M
YoY Change 26.2% 33.71%
LONG-TERM LIABILITIES
Long-Term Debt $342.3M $105.5M
YoY Change 224.45% 115.31%
Other Long-Term Liabilities $4.200M $8.300M
YoY Change -49.4% 245.83%
Total Long-Term Liabilities $4.200M $8.300M
YoY Change -49.4% 245.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $192.2M $152.3M
Total Long-Term Liabilities $4.200M $8.300M
Total Liabilities $627.2M $291.5M
YoY Change 115.16% 150.64%
SHAREHOLDERS EQUITY
Retained Earnings $500.0M $467.4M
YoY Change 6.97% 20.71%
Common Stock $19.20M $19.10M
YoY Change 0.52% -86.38%
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 $643.3M $606.8M
YoY Change
Total Liabilities & Shareholders Equity $1.271B $898.3M
YoY Change 41.43% 34.78%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $14.60M $24.20M
YoY Change -39.67% -2.81%
Depreciation, Depletion And Amortization $6.300M $7.300M
YoY Change -13.7% 23.73%
Cash From Operating Activities $16.20M $21.60M
YoY Change -25.0% -26.28%
INVESTING ACTIVITIES
Capital Expenditures -$10.40M -$8.400M
YoY Change 23.81% 58.49%
Acquisitions
YoY Change
Other Investing Activities -$420.9M -$107.7M
YoY Change 290.81%
Cash From Investing Activities -$431.3M -$116.1M
YoY Change 271.49% 2090.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 300.5M 56.90M
YoY Change 428.12% -414.36%
NET CHANGE
Cash From Operating Activities 16.20M 21.60M
Cash From Investing Activities -431.3M -116.1M
Cash From Financing Activities 300.5M 56.90M
Net Change In Cash -114.6M -37.60M
YoY Change 204.79% -737.29%
FREE CASH FLOW
Cash From Operating Activities $16.20M $21.60M
Capital Expenditures -$10.40M -$8.400M
Free Cash Flow $26.60M $30.00M
YoY Change -11.33% -13.29%

Facts In Submission

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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-200000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
29700000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
55100000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
19100000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
47800000 USD
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21600000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
33200000 USD
CY2018Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
12500000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
12600000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
203700000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
591500000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6500000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
18100000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7700000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-25600000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4600000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4200000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6800000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8600000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
300000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1700000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
129900000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
421600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28600000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
14800000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
21700000 USD
CY2018Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
20500000 USD
CY2018Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
28700000 USD
CY2018Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
10100000 USD
CY2018Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
8900000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
700000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10900000 USD
CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
4400000 USD
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
15300000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
630000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
643300000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
434700000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
460300000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
162200000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
187900000 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
2800000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
46600000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
472000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
500000000 USD
CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
230100000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
431300000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
264000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
487400000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31200000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60800000 USD
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
77500000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7200000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
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
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
268172 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
270051 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
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37673722 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37648048 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
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37405550 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37377997 shares

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