METHODE ELECTRONICS INC
For the period ended Nov 2, 2024. Filed Dec 5, 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.
Nov 2, 2024 · Filed Dec 5, 2024
MEI$12.13+12.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONDENSED CONSOLIDATEDS TATEMENTS OF OPERATIONS (Unaudited)
(in millions, except per share data)
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| November 2, 2024 | October 28, 2023 | November 2, 2024 | October 28, 2023 | |
| (14 Weeks) | (13 Weeks) | (27 Weeks) | (26 Weeks) | |
| Net sales | $292.6 | $288.0 | $551.1 | $577.7 |
| Cost of products sold | 234.7 | 235.7 | 448.6 | 471.4 |
| Gross profit | 57.9 | 52.3 | 102.5 | 106.3 |
| Selling and administrative expenses | 42.6 | 40.9 | 88.8 | 85.4 |
| Goodwill impairment | — | 56.5 | — | 56.5 |
| Amortization of intangibles | 5.9 | 6.2 | 11.8 | 11.9 |
| Income (loss) from operations | 9.4 | (51.3) | 1.9 | (47.5) |
| Interest expense, net | 6.2 | 4.4 | 11.0 | 7.2 |
| Other expense (income), net | 1.6 | (0.2) | 2.4 | (0.2) |
| Pre-tax income (loss) | 1.6 | (55.5) | (11.5) | (54.5) |
| Income tax expense (benefit) | 3.2 | (0.2) | 8.4 | (0.1) |
| Net loss | $(1.6) | $(55.3) | $(19.9) | $(54.4) |
| Loss per share: | ||||
| Basic | $(0.05) | $(1.55) | $(0.56) | $(1.52) |
| Diluted | $(0.05) | $(1.55) | $(0.56) | $(1.52) |
| Cash dividends per share | $0.14 | $0.14 | $0.28 | $0.28 |
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