$MEI
METHODE ELECTRONICS INC

2018 Q1 Form 10-Q Financial Statement

#000162828018002573 Filed on March 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q2 2017 Q1
Revenue $228.0M $219.7M $195.6M
YoY Change 16.56% 3.24% 5.96%
Cost Of Revenue $167.9M $164.5M $142.2M
YoY Change 18.07% 8.22% 3.8%
Gross Profit $60.10M $55.20M $53.40M
YoY Change 12.55% -9.21% 12.18%
Gross Profit Margin 26.36% 25.13% 27.3%
Selling, General & Admin $22.50M $27.00M $23.70M
YoY Change -5.06% -0.37% -9.2%
% of Gross Profit 37.44% 48.91% 44.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.100M $6.700M $5.900M
YoY Change 20.34% 9.84% 1.72%
% of Gross Profit 11.81% 12.14% 11.05%
Operating Expenses $22.50M $29.30M $23.70M
YoY Change -5.06% -0.68% -9.2%
Operating Profit $35.60M $25.90M $29.10M
YoY Change 22.34% -17.25% 35.35%
Interest Expense -$300.0K $100.0K $200.0K
YoY Change -250.0% 0.0%
% of Operating Profit -0.84% 0.39% 0.69%
Other Income/Expense, Net $3.800M $1.800M $1.000M
YoY Change 280.0% -280.0% 0.0%
Pretax Income $39.10M $27.90M $30.30M
YoY Change 29.04% -7.92% 33.48%
Income Tax $63.40M $4.700M $6.600M
% Of Pretax Income 162.15% 16.85% 21.78%
Net Earnings -$24.30M $23.10M $23.70M
YoY Change -202.53% 1.76% 37.79%
Net Earnings / Revenue -10.66% 10.51% 12.12%
Basic Earnings Per Share -$0.65 $0.62 $0.64
Diluted Earnings Per Share -$0.65 $0.62 $0.63
COMMON SHARES
Basic Shares Outstanding 37.29M shares 36.79M shares 37.22M shares
Diluted Shares Outstanding 37.29M shares 37.47M shares

Balance Sheet

Concept 2018 Q1 2017 Q2 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $304.0M $294.0M $268.8M
YoY Change 13.1% 29.06% 32.87%
Cash & Equivalents $304.0M $294.0M $268.8M
Short-Term Investments
Other Short-Term Assets $15.70M $12.50M $14.50M
YoY Change 8.28% -50.79% -55.25%
Inventory $83.60M $57.90M $62.00M
Prepaid Expenses
Receivables $201.4M $165.3M $153.8M
Other Receivables $600.0K $600.0K $0.00
Total Short-Term Assets $605.3M $530.3M $499.1M
YoY Change 21.28% 6.87% 10.01%
LONG-TERM ASSETS
Property, Plant & Equipment $153.7M $90.60M $87.70M
YoY Change 75.26% -2.58% -4.57%
Goodwill $59.60M $1.600M $1.600M
YoY Change 3625.0% -5.88% 0.0%
Intangibles $65.60M $6.600M $7.200M
YoY Change 811.11% -25.84% -24.21%
Long-Term Investments
YoY Change
Other Assets $200.8M $83.10M $18.60M
YoY Change 979.57% 24.59% 1.09%
Total Long-Term Assets $354.5M $173.7M $80.20M
YoY Change 342.02% 160.42% 19.7%
TOTAL ASSETS
Total Short-Term Assets $605.3M $530.3M $499.1M
Total Long-Term Assets $354.5M $173.7M $80.20M
Total Assets $959.8M $704.0M $667.0M
YoY Change 43.9% 7.33% 8.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.90M $75.30M $67.70M
YoY Change 29.84% 10.41% 5.29%
Accrued Expenses $47.10M $36.40M
YoY Change 110.4%
Deferred Revenue
YoY Change
Short-Term Debt $2.900M $0.00 $0.00
YoY Change
Long-Term Debt Due $2.900M
YoY Change
Total Short-Term Liabilities $150.3M $124.4M $111.2M
YoY Change 35.16% 5.51% 1.74%
LONG-TERM LIABILITIES
Long-Term Debt $116.0M $27.00M $37.00M
YoY Change 213.51% -52.63% -32.73%
Other Long-Term Liabilities $8.200M $2.600M $2.100M
YoY Change 290.48% -10.34% -38.24%
Total Long-Term Liabilities $8.200M $2.600M $2.100M
YoY Change 290.48% -10.34% -38.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $150.3M $124.4M $111.2M
Total Long-Term Liabilities $8.200M $2.600M $2.100M
Total Liabilities $352.6M $162.9M $113.3M
YoY Change 211.21% 34.85% 0.53%
SHAREHOLDERS EQUITY
Retained Earnings $439.2M $427.0M $407.2M
YoY Change 7.86% 19.07% 19.2%
Common Stock $19.10M $19.10M $144.3M
YoY Change -86.76% -85.46% 10.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.50M $11.50M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 1.347M shares 1.347M shares 1.347M shares
Shareholders Equity $607.2M $541.1M $507.9M
YoY Change
Total Liabilities & Shareholders Equity $959.8M $704.0M $667.0M
YoY Change 43.9% 7.33% 8.88%

Cashflow Statement

Concept 2018 Q1 2017 Q2 2017 Q1
OPERATING ACTIVITIES
Net Income -$24.30M $23.10M $23.70M
YoY Change -202.53% 1.76% 37.79%
Depreciation, Depletion And Amortization $7.100M $6.700M $5.900M
YoY Change 20.34% 9.84% 1.72%
Cash From Operating Activities $41.90M $38.50M $43.00M
YoY Change -2.56% 43.12% 23.92%
INVESTING ACTIVITIES
Capital Expenditures -$19.00M -$9.200M -$3.700M
YoY Change 413.51% 53.33% -51.95%
Acquisitions
YoY Change
Other Investing Activities $0.00 $700.0K
YoY Change -56.25%
Cash From Investing Activities -$19.00M -$8.500M -$3.700M
YoY Change 413.51% 93.18% -51.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.400M -9.000M -14.50M
YoY Change -144.14% 60.71% 101.39%
NET CHANGE
Cash From Operating Activities 41.90M 38.50M 43.00M
Cash From Investing Activities -19.00M -8.500M -3.700M
Cash From Financing Activities 6.400M -9.000M -14.50M
Net Change In Cash 29.30M 21.00M 24.80M
YoY Change 18.15% 24.26% 25.25%
FREE CASH FLOW
Cash From Operating Activities $41.90M $38.50M $43.00M
Capital Expenditures -$19.00M -$9.200M -$3.700M
Free Cash Flow $60.90M $47.70M $46.70M
YoY Change 30.41% 44.98% 10.14%

Facts In Submission

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352600000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
704000000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
959800000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
124400000 USD
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
150300000 USD
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
27000000 USD
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
116000000 USD
CY2017Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
287900000 USD
CY2018Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
364600000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-38000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
57600000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13200000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-165000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
106700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
87100000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
23700000 USD
us-gaap Net Income Loss
NetIncomeLoss
69700000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-24300000 USD
us-gaap Net Income Loss
NetIncomeLoss
20400000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2900000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3800000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2600000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
29100000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
84800000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
35600000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
90700000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
17700000 USD
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27000000 USD
CY2017Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
11200000 USD
CY2018Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
13500000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
83100000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
200800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-9000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-23700000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
32200000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
50300000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2600000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8200000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9800000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10300000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10600000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1100000 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 To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13200000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34700000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12500000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15700000 USD
CY2017Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
15500000 USD
CY2018Q1 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
18000000 USD
CY2017Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
7100000 USD
CY2018Q1 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
7600000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
71300000 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
2700000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
336700000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
429700000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90600000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
153700000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3000000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
427000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
439200000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
195600000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
596700000 USD
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
228000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
659300000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
76400000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
83300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3300000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
2900000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
541100000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
607200000 USD
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1346624 shares
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11500000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
253351 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
180210 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
385979 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37470653 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37477967 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37292934 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37661020 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37217302 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37297757 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37292934 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37275041 shares

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