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NET INCOME PER SHARE
 6 Months Ended
Oct. 26, 2013
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NET INCOME PER SHARE
 
Basic net income per share is calculated by dividing net income 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 26,
2013
 
October 27,
2012
 
October 26, 2013
 
October 27, 2012
Numerator - net income attributable to Methode Electronics, Inc.
 
$
19,802

 
$
23,363

 
$
33,413

 
$
27,251

Denominator:
 
—

 
—

 
 
 
 
Denominator for basic net income per share-weighted average shares
 
37,718,643

 
37,413,490

 
37,635,238

 
37,402,660

Dilutive potential common shares
 
767,727

 
562,069

 
712,802

 
518,072

Denominator for diluted net income per share-adjusted weighted average shares and assumed conversions
 
38,486,370

 
37,975,559

 
38,348,040

 
37,920,732

 
 
 
 
 
 
 
 
 
Net income per share:
 
 

 
 

 
 
 
 
Basic
 
$
0.52

 
$
0.62

 
$
0.89

 
$
0.73

Diluted
 
$
0.51

 
$
0.62

 
$
0.87

 
$
0.72


 
For the three and six months ended October 27, 2012, options to purchase 383,185 and 511,185 shares, respectively, have been excluded in the computation of 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. In addition, restricted stock awards for 700,000 shares have been excluded in the computation of diluted net income per share for all periods presented, as these awards are contingent on the Company's performance in fiscal 2015.