XML 33 R11.htm IDEA: XBRL DOCUMENT v3.2.0.727
NET INCOME PER SHARE
 3 Months Ended
Aug. 01, 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
 
 
August 1,
2015
 
August 2,
2014
Numerator - net income attributable to Methode Electronics, Inc.
 
$
23.5

 
$
21.4

Denominator:
 
—

 
—

Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards
 
38,904,743

 
38,464,558

Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units
 
126,055

 
183,646

Denominator for diluted net income per share
 
39,030,798

 
38,648,204

 
 
 
 
 
Net income per share:
 
 

 
 

Basic
 
$
0.60

 
$
0.56

Diluted
 
$
0.60

 
$
0.55


 
For the three months ended August 2, 2014, options to purchase 158,500 shares have been excluded in the computation of diluted 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 700,000 shares have been excluded in the computation of diluted net income per share for the three months ended August 2, 2014 as these awards were contingent on the Company's full year performance in fiscal 2015.