NET INCOME PER SHARE

3 Months Ended

Jul. 30, 2016

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
	July 30, 2016		August 1, 2015
Numerator - net income attributable to Methode Electronics, Inc.	$	21.2	$	23.5
Denominator:	—		—
Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards	37,322,548		38,904,743
Dilutive potential common shares-employee and director stock options, restricted stock awards and restricted stock units	146,744		126,055
Denominator for diluted net income per share	37,469,292		39,030,798

Net income per share:
Basic	$	0.57	$	0.60
Diluted	$	0.57	$	0.60

For the three months ended July 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 the three months ended August 1, 2015, as those shares would have been anti-dilutive as well. RSAs for 822,000 shares have been excluded in the computation of diluted net income per share for the three months ended July 30, 2016, as these awards are contingent on the Company's full year performance in fiscal 2020.