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Business Summary: Methode Electronics, Inc. (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers (OEMs). The Interface segment provides a range of copper and fiber-optic interface and interface solutions. The Power Products segment manufactures braided flexible cables, current-carrying laminated bus devices, custom power-product assemblies, such as PowerRail solution, high-current low voltage flexible power cabling systems and powder coated bus bars. The Other segment includes medical devices, inverters and battery systems, and insulated gate bipolar transistor solutions.
Financial Summary: BRIEF: For the six months ended 28 October 2017, Methode Electronics Inc. revenues increased 8% to $431.3M. Net income decreased 3% to $44.7M. Revenues reflect Automotive segment increase of 10% to $347.7M, Power Products segment increase of 21% to $29.7M. Net income was offset by Eliminations segment loss increase of 49% to $26.3M, Other segment loss increase of 26% to $5.8M. Dividend per share remained flat at $0.18.