Summary of Quarterly Results of Operations (Unaudited)

12 Months Ended

May 03, 2014

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations (Unaudited)

Summary of Quarterly Results of Operations (Unaudited)

The following is a summary of unaudited quarterly results of operations for the years ended May 3, 2014 and April 27, 2013:

	Fiscal 2014 Quarter Ended
	July 27		October 26		February 1		May 3
Net sales	$	167.3	$	190.9	$	189.8	$	224.8
Gross profit	34.0		41.4		38.5		42.8
Net income attributable to Methode Electronics, Inc.	13.6		19.8		14.6		48.1
Net income per basic common share	$	0.36	$	0.52	$	0.38	$	1.27
Net income per diluted common share	$	0.36	$	0.51	$	0.38	$	1.26

	Fiscal 2013 Quarter Ended
	July 28		October 27		January 26		April 27
Net sales	$	118.7	$	129.7	$	123.0	$	148.4
Gross profit	21.5		22.3		20.0		27.8
Net income attributable to Methode Electronics, Inc.	3.9		23.3		3.3		10.2
Net income per basic and diluted common share	$	0.10	$	0.62	$	0.09	$	0.28

Significant Items for Fiscal 2014

The fourth quarter of fiscal 2014 includes an intangible asset pre-tax impairment charge of $1.7 million related to our Eetrex reporting unit in our Power Products segment. The fourth quarter of fiscal 2014 also includes a pre-tax gain on the sale of one of the Company's investments of $3.2 million. In addition, the fourth quarter includes a net tax benefit adjustment of $31.7 million, primarily related to the release of a valuation allowance against the deferred tax assets in the U.S.

Significant Items for Fiscal 2013

The second quarter of fiscal 2013 includes pre-tax income from Delphi settlement of $20.0 million. The fourth quarter of fiscal 2013 includes a goodwill impairment charge of $4.3 million related to our Eetrex reporting unit in the Power Products segment.