10-Q Filing

METHODE ELECTRONICS INC CIK: 65270 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000065270-11-000017`
Period End Date	20110731
Filing Date	20110901
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	mei-20110730.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 34 Cash Flow Statement 39

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.45M	USD	Point-in-time
par value	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$63.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.43M	USD	Point-in-time
par value	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$88.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$84.00M	USD	Point-in-time
shares issued	`CommonStockSharesIssued`	38.31M	shares	Point-in-time
shares issued	`CommonStockSharesIssued`	38.36M	shares	Point-in-time
Finished products	`InventoryFinishedGoodsNetOfReserves`	$6.27M	USD	Point-in-time
Finished products	`InventoryFinishedGoodsNetOfReserves`	$7.70M	USD	Point-in-time
shares issued	`TreasuryStockShares`	1.34M	shares	Point-in-time
shares issued	`TreasuryStockShares`	1.34M	shares	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$10.98M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$12.44M	USD	Point-in-time
Materials	`InventoryRawMaterialsNetOfReserves`	$20.26M	USD	Point-in-time
Materials	`InventoryRawMaterialsNetOfReserves`	$21.30M	USD	Point-in-time
Net Inventory	`InventoryNet`	$40.40M	USD	Point-in-time
Net Inventory	`InventoryNet`	$38.56M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.78M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.73M	USD	Point-in-time
Prepaid and refundable income taxes	`PrepaidAndRefundableIncomeTaxes`	$829.00K	USD	Point-in-time
Prepaid and refundable income taxes	`PrepaidAndRefundableIncomeTaxes`	$851.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$7.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$9.28M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$195.96M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$222.67M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$298.25M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$298.36M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$236.74M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$236.47M	USD	Point-in-time
Net Property, Plant, and Equipment	`PropertyPlantAndEquipmentNet`	$61.51M	USD	Point-in-time
Net Property, Plant, and Equipment	`PropertyPlantAndEquipmentNet`	$61.89M	USD	Point-in-time
GOODWILL	`Goodwill`	$16.42M	USD	Point-in-time
GOODWILL	`Goodwill`	$16.42M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$18.42M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$17.96M	USD	Point-in-time
PRE-PRODUCTION COSTS	`PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned`	$14.64M	USD	Point-in-time
PRE-PRODUCTION COSTS	`PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned`	$14.92M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$27.34M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$27.78M	USD	Point-in-time
Total Other Long Term Assets	`AssetsNoncurrent`	$77.27M	USD	Point-in-time
Total Other Long Term Assets	`AssetsNoncurrent`	$76.65M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$334.74M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$361.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$27.02M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$25.70M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$62.85M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$64.80M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebt`	$27.00M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebt`	-	USD	Point-in-time
OTHER LIABILITIES	`OtherLiabilitiesNoncurrent`	$8.14M	USD	Point-in-time
OTHER LIABILITIES	`OtherLiabilitiesNoncurrent`	$5.28M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$4.77M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.61M	USD	Point-in-time
Common stock, $0.50 par value, 100,000,000 shares authorized, 38,363,078 and 38,312,243 shares issued as of July 30, 2011 and April 30, 2011, respectively	`CommonStockValue`	$19.18M	USD	Point-in-time
Common stock, $0.50 par value, 100,000,000 shares authorized, 38,363,078 and 38,312,243 shares issued as of July 30, 2011 and April 30, 2011, respectively	`CommonStockValue`	$19.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$74.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.11M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$21.20M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$23.15M	USD	Point-in-time
Treasury stock, 1,342,188 shares as of July 30, 2011 and April 30, 2011	`TreasuryStockValue`	$11.38M	USD	Point-in-time
Treasury stock, 1,342,188 shares as of July 30, 2011 and April 30, 2011	`TreasuryStockValue`	$11.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$155.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$154.89M	USD	Point-in-time
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS EQUITY	`StockholdersEquity`	$257.90M	USD	Point-in-time
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS EQUITY	`StockholdersEquity`	$259.03M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.11M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$1.46M	USD	Point-in-time
TOTAL EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$259.36M	USD	Point-in-time
TOTAL EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$261.14M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$361.21M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$334.74M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$98.97M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$110.80M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$90.82M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$79.53M	USD	1 Quarter
Gross Margins	`GrossProfit`	$19.98M	USD	1 Quarter
Gross Margins	`GrossProfit`	$19.44M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.60M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.56M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.42M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.85M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$4.00K	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$26.00K	USD	1 Quarter
Other (income)/expense, net	`NonoperatingIncomeExpense`	$43.00K	USD	1 Quarter
Other (income)/expense, net	`NonoperatingIncomeExpense`	$849.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.67M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$22.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$642.00K	USD	1 Quarter
Net income	`ProfitLoss`	$1.44M	USD	1 Quarter
Net income	`ProfitLoss`	$4.03M	USD	1 Quarter
Less: Net income/(loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-35.00K	USD	1 Quarter
Less: Net income/(loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-59.00K	USD	1 Quarter
NET INCOME ATTRIBUTABLE TO METHODE ELECTRONICS, INC.	`NetIncomeLoss`	$1.49M	USD	1 Quarter
NET INCOME ATTRIBUTABLE TO METHODE ELECTRONICS, INC.	`NetIncomeLoss`	$4.07M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Common stock	`CommonStockDividendsPerShareCashPaid`	$0.07	USD	1 Quarter
Common stock	`CommonStockDividendsPerShareCashPaid`	$0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37.28M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37.05M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.29M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.52M	shares	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.44M	USD	1 Quarter
Net income	`ProfitLoss`	$4.03M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$3.36M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$3.44M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$556.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$462.00K	USD	1 Quarter
Amortization of stock awards and stock options	`ShareBasedCompensation`	$342.00K	USD	1 Quarter
Amortization of stock awards and stock options	`ShareBasedCompensation`	$1.11M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-10.52M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-231.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$286.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$22.00K	USD	1 Quarter
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$6.50M	USD	1 Quarter
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.21M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.96M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.55M	USD	1 Quarter
Purchase of investment	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$750.00K	USD	1 Quarter
Purchase of investment	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-4.55M	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.71M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$198.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$13.00K	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$2.59M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$2.58M	USD	1 Quarter
Net borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$27.00M	USD	1 Quarter
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-2.56M	USD	1 Quarter
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$24.61M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$424.00K	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$109.00K	USD	1 Quarter
INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.37M	USD	1 Quarter
INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.98M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$63.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$63.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.43M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.