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NET INCOME PER SHARE
 9 Months Ended
Jan. 31, 2015
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
 
Nine Months Ended
 
 
January 31,
2015
 
February 1,
2014
 
January 31,
2015
 
February 1,
2014
Numerator - net income attributable to Methode Electronics, Inc.
 
$
27.1

 
$
14.6

 
$
74.5

 
$
48.0

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards
 
38,791,210

 
38,051,772

 
38,644,413

 
37,780,506

Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units
 
824,331

 
422,357

 
645,100

 
342,686

Denominator for diluted net income per share
 
39,615,541

 
38,474,129

 
39,289,513

 
38,123,192

 
 
 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.69

 
$
0.38

 
$
1.93

 
$
1.27

Diluted
 
$
0.68

 
$
0.38

 
$
1.90

 
$
1.26


 
For the nine months ended January 31, 2015, 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 for175,000 shares have been excluded in the computation of diluted net income per share for the nine months ended January 31, 2015. 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 nine months ended February 1, 2014 as these awards are contingent on the Company's performance in fiscal 2015.