XML 54 R22.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Summary of Quarterly Results of Operations (Unaudited) | 12 Months Ended
--- | ---
May. 02, 2015
Quarterly Financial Information Disclosure [Abstract] |
Summary of Quarterly Results of Operations (Unaudited) | Summary of Quarterly Results of Operations (Unaudited) The following is a summary of unaudited quarterly results of operations for the years ended May 2, 2015 and May 3, 2014:
| Fiscal 2015 Quarter Ended
| August 2 |  | November 1 |  | January 31 |  | May 2
Net sales | $ | 218.1 |  |  | $ | 229.7 |  |  | $ | 206.0 |  |  | $ | 227.3 |
Gross profit | 50.5 |  |  | 60.2 |  |  | 56.2 |  |  | 51.9 |
Net income attributable to Methode Electronics, Inc. | 21.4 |  |  | 26.0 |  |  | 27.1 |  |  | 26.6 |
Net income per basic common share | $ | 0.56 |  |  | $ | 0.67 |  |  | $ | 0.69 |  |  | $ | 0.69 |
Net income per diluted common share | $ | 0.55 |  |  | $ | 0.66 |  |  | $ | 0.68 |  |  | $ | 0.68 |
| Fiscal 2014 Quarter Ended
| July 27 |  | October 26 |  | February 1 |  | May 3
Net sales | $ | 167.3 |  |  | $ | 190.9 |  |  | $ | 189.8 |  |  | $ | 224.8 |
Gross profit | 34.0 |  |  | 41.4 |  |  | 38.5 |  |  | 42.8 |
Net income attributable to Methode Electronics, Inc. | 13.6 |  |  | 19.8 |  |  | 14.6 |  |  | 48.1 |
Net income per basic common share | $ | 0.36 |  |  | $ | 0.52 |  |  | $ | 0.38 |  |  | $ | 1.27 |
Net income per diluted common share | 0.36 |  |  | 0.51 |  |  | 0.38 |  |  | 1.26 |
Significant Items for Fiscal 2015 The fourth quarter of fiscal 2015 includes a goodwill pre-tax impairment charge of $11.1 million related to our TouchSensor reporting unit in our Interface segment. The fourth quarter of fiscal 2015 also includes a pre-tax gain on the sale of Trace Laboratories reporting units of $7.7 million in our Other segment. In addition, the fourth quarter includes a net tax benefit adjustment of $5.0 million, related to the release of a valuation allowance against the deferred tax assets in Malta. Significant Items for Fiscal 2014 The fourth quarter of fiscal 2014 includes an intangible asset pre-tax impairment charge of $1.7 million related to our Eetrex reporting unit in our Power Products segment. The fourth quarter of fiscal 2014 also includes a pre-tax gain on the sale of one of the Company's investments of $3.2 million. In addition, the fourth quarter includes a net tax benefit adjustment of $31.7 million, primarily related to the release of a valuation allowance against the deferred tax assets in the U.S.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration