METHODE ELECTRONICS INC
For the period ended Jan 27, 2024. Filed Mar 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 27, 2024 · Filed Mar 7, 2024
MEI$12.13+12.7%Stored close · as of Nov 9, 2026
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Item 1. Financial Statements
CONDENSED CONSOLIDATED STATE MENTS OF INCOME (Unaudited)
(in millions, except per share data)
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| January 27, 2024 | January 28, 2023 | January 27, 2024 | January 28, 2023 | |
| Net sales | $259.5 | $280.1 | $837.2 | $878.4 |
| Cost of products sold | 222.5 | 215.2 | 693.9 | 677.6 |
| Gross profit | 37.0 | 64.9 | 143.3 | 200.8 |
| Selling and administrative expenses | 33.9 | 32.9 | 119.3 | 104.8 |
| Goodwill impairment | — | — | 56.5 | — |
| Amortization of intangibles | 6.1 | 4.7 | 18.0 | 14.1 |
| (Loss) income from operations | (3.0) | 27.3 | (50.5) | 81.9 |
| Interest expense, net | 5.0 | 0.8 | 12.2 | 1.3 |
| Other expense (income), net | 2.5 | 3.5 | 2.3 | (1.7) |
| Pre-tax (loss) income | (10.5) | 23.0 | (65.0) | 82.3 |
| Income tax expense | 1.1 | 3.1 | 1.0 | 13.3 |
| Net (loss) income | (11.6) | 19.9 | (66.0) | 69.0 |
| Net income attributable to redeemable noncontrolling interest | — | — | — | — |
| Net (loss) income attributable to Methode | $(11.6) | $19.9 | $(66.0) | $69.0 |
| (Loss) income per share attributable to Methode: | ||||
| Basic | $(0.33) | $0.56 | $(1.86) | $1.91 |
| Diluted | $(0.33) | $0.54 | $(1.86) | $1.87 |
| Cash dividends per share | $0.14 | $0.14 | $0.42 | $0.42 |
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