Methode Electronics, a manufacturer of electro-mechanical devices, announced operating results for the fiscal-year 2009 fourth quarter and year ended May 2, 2009. The fourth-quarter fiscal year 2009 net sales decreased $65.4 million, or 42.4 percent, to $89.0 million from $154.4 million in the fourth quarter of fiscal year 2008. Net income decreased $105.5 million to a loss of $92.6 million, or $2.50 per share, in the fourth quarter of fiscal year 2009 compared to income of $12.9 million.

For the year 2009, net sales decreased $125.5 million, or 22.8 percent, to $425.6 million from $551.1 million for the year 2008. Net income decreased $152.3 million to a loss of $112.5 million, in fiscal year 2009 compared to income of $39.8 million, in fiscal year 2008. The decrease in net income is due mainly to an impairment of goodwill and intangible assets charge of $94.4 million, restructuring charges of $25.3 million, and lower sales attributable to the softening of the global economic environment in fiscal year 2009.

Fiscal year 2008 results included restructuring charges of $5.2 million. Excluding the restructuring and impairment of goodwill and intangible asset charges, Methode achieved net income of $6.4 million, in fiscal year 2009 compared to $42.9 million, excluding restructuring charges, in fiscal year 2008.

Methode Electronics manufacturer devices employing electrical, electronic, wireless, radio remote control, sensing and optical technologies to control and convey signals through sensors, interconnections and controls.