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NET INCOME PER SHARE
 9 Months Ended
Jan. 30, 2016
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 30,
2016
 
January 31,
2015
 
January 30,
2016
 
January 31,
2015
Numerator - net income attributable to Methode Electronics, Inc.
 
$
17.2

 
$
27.1

 
$
62.0

 
$
74.5

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards
 
38,159,789

 
38,791,210

 
38,662,487

 
38,644,413

Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units
 
118,442

 
824,331

 
128,137

 
645,100

Denominator for diluted net income per share
 
38,278,231

 
39,615,541

 
38,790,624

 
39,289,513

 
 
 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.45

 
$
0.69

 
$
1.60

 
$
1.93

Diluted
 
$
0.45

 
$
0.68

 
$
1.60

 
$
1.90


 
For the three months and nine months ended January 30, 2016, options to purchase 138,500 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 those periods, and therefore, would have been anti-dilutive. In addition, 158,500 shares have been excluded because the exercise price was greater than the average market price for both the three months and nine months ended January 31, 2015, as those shares would have been anti-dilutive as well. Restricted stock awards for 684,000 shares have been excluded in the computation of diluted net income per share for both the three months and nine months ended January 30, 2016, as these awards are contingent on the Company's full year performance in fiscal 2020.