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NET INCOME PER SHARE
 9 Months Ended
Feb. 01, 2014
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
 
 
February 1,
2014
 
January 26,
2013
 
February 1, 2014
 
January 26, 2013
Numerator - net income attributable to Methode Electronics, Inc.
 
$
14,598

 
$
3,325

 
$
48,010

 
$
30,576

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares
 
38,051,772

 
37,413,490

 
37,780,506

 
37,406,270

Dilutive potential common shares
 
422,357

 
581,802

 
342,686

 
531,624

Denominator for diluted net income per share-adjusted weighted average shares and assumed conversions
 
38,474,129

 
37,995,292

 
38,123,192

 
37,937,894

 
 
 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.38

 
$
0.09

 
$
1.27

 
$
0.82

Diluted
 
$
0.38

 
$
0.09

 
$
1.26

 
$
0.81


 
For the three and nine months ended January 26, 2013, options to purchase 383,185 and 511,185 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. In addition, restricted stock awards for 700,000 shares have been excluded in the computation of diluted net income per share for all periods presented, as these awards are contingent on the Company's performance in fiscal 2015.