NET INCOME PER SHARE

6 Months Ended

Oct. 29, 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				Six Months Ended
	October 29, 2016		October 31, 2015		October 29, 2016		October 31, 2015
Numerator - net income attributable to Methode Electronics, Inc.	$	24.9	$	21.2	$	45.9	$	44.8
Denominator:	—		—
Denominator for basic net income per share-weighted average shares outstanding and vested/unissued restricted stock awards	37,353,423		38,972,930		37,337,985		38,913,836
Dilutive potential common shares-employee stock options, restricted stock awards and restricted stock units	187,827		104,909		156,234		117,588
Denominator for diluted net income per share	37,541,250		39,077,839		37,494,219		39,031,424

Net income per share:
Basic	$	0.66	$	0.55	$	1.23	$	1.15
Diluted	$	0.66	$	0.54	$	1.23	$	1.15

For the three months and six months ended October 29, 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. For the three months and six months ended October 31, 2015, 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 those periods, and therefore, would have been anti-dilutive. RSAs for 822,000 shares have been excluded in the computation of diluted net income per share for both the three months and six months ended October 29, 2016, as these awards are contingent on the Company's full year performance in fiscal 2020.