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NET INCOME PER SHARE
 6 Months Ended
Oct. 27, 2012
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NET INCOME PER SHARE
 
Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the applicable period.  Diluted net income per share is calculated after adjusting the denominator of the basic net income per share calculation for the effect of all potentially dilutive stock compensation awards outstanding during the period.
 
The following table sets forth the computation of basic and diluted net income per share:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
October 27,
2012
 
October 29,
2011
 
October 27,
2012
 
October 29,
2011
Numerator - net income attributable to Methode Electronics, Inc.
 
$
23,363

 
$
311

 
$
27,251

 
$
1,806

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares
 
37,413,490

 
37,309,890

 
37,402,660

 
37,293,598

Dilutive potential common shares
 
562,069

 
210,357

 
518,072

 
223,400

Denominator for diluted net income per share-adjusted weighted average shares and assumed conversions
 
37,975,559

 
37,520,247

 
37,920,732

 
37,516,998

Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.62

 
$
0.01

 
$
0.73

 
$
0.05

Diluted
 
$
0.62

 
$
0.01

 
$
0.72

 
$
0.05


 
For the three months ended October 27, 2012 and October 29, 2011, options to purchase 383,185 shares and 962,662 shares, respectively, have been excluded in the computation of net income per share because the exercise price was greater than the average market price for that period, and therefore, would have been anti-dilutive. For the six months ended October 27, 2012 and October 29, 2011, options to purchase 511,185 shares and 514,412 shares, respectively, have been excluded in the computation of net income per share because the exercise price was greater than the average market price for that period, and therefore, would have been anti-dilutive.