XML 32 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
NET INCOME PER SHARE
 6 Months Ended
Nov. 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 attributable to Methode shareholders 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
 
 
November 1,
2014
 
October 26,
2013
 
November 1,
2014
 
October 26,
2013
Numerator - net income attributable to Methode Electronics, Inc.
 
$
26.0

 
$
19.8

 
$
47.4

 
$
33.5

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards
 
38,694,583

 
37,718,643

 
38,571,015

 
37,635,238

Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units
 
821,853

 
767,727

 
467,632

 
712,802

Denominator for diluted net income per share
 
39,516,436

 
38,486,370

 
39,038,647

 
38,348,040

 
 
 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.67

 
$
0.52

 
$
1.23

 
$
0.89

Diluted
 
$
0.66

 
$
0.51

 
$
1.21

 
$
0.87


 
For both the three months ended and six months ended November 1, 2014, options to purchase 158,500 shares 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. Restricted stock awards for 350,000 shares have been excluded in the computation of diluted net income per share for the six months ended November 1, 2014. Restricted stock awards for 700,000 shares have been excluded in the computation of diluted net income per share for both the three months ended and six months ended October 26, 2013 as these awards are contingent on the Company's performance in fiscal 2015.