XML 34 R22.htm IDEA: XBRL DOCUMENT v3.5.0.1
Summary of Quarterly Results of Operations (Unaudited)
 12 Months Ended
Apr. 30, 2016
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 April 30, 2016 and May 2, 2015:
 
Fiscal 2016
Quarter Ended
 
August 1
 
October 31
 
January 30
 
April 30
Net sales
$
203.3

 
$
208.4

 
$
184.6

 
$
212.8

Gross profit
$
53.6

 
$
50.9

 
$
47.6

 
$
60.8

Net income attributable to Methode Electronics, Inc.
$
23.5

 
$
21.2

 
$
17.2

 
$
22.7

Net income per basic common share
$
0.60

 
$
0.55

 
$
0.45

 
$
0.61

Net income per diluted common share
$
0.60

 
$
0.54

 
$
0.45

 
$
0.61


 
Fiscal 2015
Quarter Ended
 
August 2
 
November 1
 
January 31
 
May 2
Net sales
$
218.1

 
$
229.7

 
$
206.0

 
$
227.3

Gross profit
$
50.5

 
$
60.2

 
$
56.2

 
$
51.9

Net income attributable to Methode Electronics, Inc.
$
21.4

 
$
26.0

 
$
27.1

 
$
26.6

Net income per basic common share
$
0.56

 
$
0.67

 
$
0.69

 
$
0.69

Net income per diluted common share
$
0.55

 
$
0.66

 
$
0.68

 
$
0.68



Significant Items for Fiscal 2016
 
The first, second, third and fourth quarter includes pre-tax legal expenses of $1.2 million, $2.7 million, $2.7 million and $3.3 million, respectively related to the Hetronic lawsuits.

Significant Items for Fiscal 2015
 
The fourth quarter of fiscal 2015 includes a goodwill pre-tax impairment charge of $11.1 million related to our TouchSensor reporting unit in our Interface segment. The fourth quarter of fiscal 2015 also includes a pre-tax gain on the sale of Trace Laboratories reporting units of $7.7 million in our Other segment. In addition, the fourth quarter includes a net tax benefit adjustment of $5.0 million, related to the release of a valuation allowance against the deferred tax assets in Malta.