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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.