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NET INCOME PER SHARE
 9 Months Ended
Jan. 26, 2013
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
 
Nine Months Ended
 
 
January 26,
2013
 
January 28,
2012
 
January 26,
2013
 
January 28,
2012
Numerator - net income attributable to Methode Electronics, Inc.
 
$
3,325

 
$
809

 
$
30,576

 
$
2,615

Denominator:
 
—

 
—

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

 
37,309,890

 
37,406,270

 
37,299,029

Dilutive potential common shares
 
581,802

 
230,332

 
531,624

 
223,446

Denominator for diluted net income per share-adjusted weighted average shares and assumed conversions
 
37,995,292

 
37,540,222

 
37,937,894

 
37,522,475

Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.09

 
$
0.02

 
$
0.82

 
$
0.07

Diluted
 
$
0.09

 
$
0.02

 
$
0.81

 
$
0.07


 
For the three months ended January 26, 2013 and January 28, 2012, 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 nine months ended January 26, 2013 and January 28, 2012, options to purchase 511,185 shares and 834,412 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.