Exhibit 99.1

meilogoa03.jpg

METHODE ELECTRONICS, INC. REPORTS FISCAL 2020 THIRD-QUARTER RESULTS AND INCREASED ORGANIC SALES GROWTH


Chicago, IL - March 5, 2020 - Methode Electronics, Inc. (NYSE: MEI), a global developer of custom-engineered and application-specific products and solutions, announced financial results for the third quarter of Fiscal 2020 ended February 1, 2020.

For the third quarter ended February 1, 2020, the Company's accounting period included 14 weeks compared to 13 weeks for the third quarter ended January 26, 2019. For the nine months ended February 1, 2020, the Company's accounting period included 40 weeks compared to 39 weeks for the nine months ended January 26, 2019. The following discussions of comparative results among periods should be reviewed in this context.

Financial Results for the Third Quarter of Fiscal 2020
Net sales in the third quarter of Fiscal 2020 increased $39.0 million, or 15.8 percent, to $285.9 million from $246.9 million in the same quarter of Fiscal 2019. The increase in net sales was largely due to higher sales in the Automotive segment.

GAAP net income increased $10.5 million to $41.2 million, or $1.09 per share, in the third quarter of Fiscal 2020 from $30.7 million, or $0.82 per share, in the same period of Fiscal 2019. GAAP net income in the third quarter of Fiscal 2020 was higher mainly due to increased gross profit in the Automotive segment.

Adjusted net income, a non-GAAP financial measure, was $39.4 million, or $1.05 per share, in the third quarter of Fiscal 2020 compared to $31.3 million, or $0.83 per share, in the same period of Fiscal 2019. Adjusted net income excludes expenses for initiatives to reduce overall costs and improve operational profitability and purchase accounting adjustments in the applicable periods.

Year over year, Fiscal 2020 third quarter GAAP net income benefitted from:
higher sales ($37.4 million) and gross profit ($13.2 million) from the Automotive segment;
the recognition of Grakon acquisition-related costs ($0.8 million) and purchase accounting adjustments related to inventory ($3.0 million) totaling $3.8 million in the third quarter of Fiscal 2019;
the benefit of initiatives to reduce overall costs and improve operational profitability taken in Fiscal 2019 of $2.7 million;
lower net interest expense of $0.8 million; and
lower expense for initiatives to reduce overall costs and improve operational profitability of $1.5 million.

Year over year, Fiscal 2020 third quarter GAAP net income was negatively affected by:
higher income tax expense of $5.8 million; and
the impact of foreign currency translation of $0.4 million.




The following information was filed by Xtant Medical Holdings, Inc. (XTNT) on Thursday, March 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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