8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 8, 2004

Methode Electronics, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	0-2816	36-2090085
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
7401 W. Wilson, Chicago, IL		60706
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code 708-867-6777

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On September 8, 2004, Methode Electronics, Inc. issued a press release announcing that the cash flow statement included with Methode's September 2, 2004 press release contained a misclassification between operating and investing activities. A copy of the press release is filed herewith as Exhibit 99 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit 99 - Methode Electronics, Inc. Press Release dated September 8, 2004.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Methode Electronics, Inc. (Registrant)
September 8, 2004	By:	Douglas A. Koman
		Name: Douglas A. Koman
		Title: Chief Financial Officer

Exhibit Index

Exhibit No.	Description
EX-99	Methode Electronics, Inc. Press Release dated September 8, 2004

EX-99

News Release

For:	Methode Electronics, Inc.	Contact:Joey Iske
	7401 West Wilson Avenue	Director of Investor Relations
	Chicago, IL 60706		708-457-4060
		jiske@methode.com

Methode Electronics, Inc. Corrects Misclassification in its
First Quarter Fiscal Year 2005 Statement of Cash Flow

CHICAGO, September 8, 2004 — Methode Electronics, Inc. (Nasdaq: METH). The cash flow statement included with Methode’s September 2, 2004 press release contained a misclassification between operating and investing activities. For the three months ended July 31, 2004, net cash provided by operating activities was increased by $1.9 million. The offsetting amount is reflected as an increase in net cash used in investing activities. Attached is the corrected Summary Statement of Cash Flows.

About Methode Electronics

Methode Electronics, Inc. is a global manufacturer of component and subsystem devices. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end markets of the automotive, communications (including information processing and storage, networking equipment, wireless and terrestrial voice/data systems), aerospace, rail and other transportation industries; and the consumer and industrial equipment markets. Further information can be found at Methode’s website http://www.methode.com.

Methode Electronics, Inc.
Summary Statement of Cash Flows (Unaudited)
(In thousands)
	Three Months Ended July 31,
		2004			2003
Operating Activities:
Net income	$	4,592		$	4,291
Provision for depreciation and amortization		5,280			4,880
Other		4,204			8,856
Net Cash Provided by Operating Activities		14,076			18,027
Investing Activities:
Purchases of property, plant and equipment		(5,799	)		(3,694	)
Acquisitions		(2,671	)		(1,253	)
Collection of note receivable from related party					6,000
Other		(503	)		(135	)
Net Cash Provided by (Used in) Investing Activities:		(8,973	)		918
Financing Activities
Purchase and retirement of Class B shares		—			(17,063	)
Options exercised		160			1,397
Dividends		(1,775	)		(1,819	)
Other		—			357
Net Cash Used in Financing Activities		(1,615	)		(17,128	)
Effect of foreign exchange rate changes on cash		725			18
Increase in Cash and Cash Equivalents		4,213			1,835
Cash and cash equivalents at beginning of period		61,757			64,261
Cash and Cash Equivalents at End of Period	$	65,970		$	66,096