READING, Pa., Feb. 8, 2017 /PRNewswire/ -- EnerSys (NYSE: ENS)
the global leader in stored energy solutions for industrial
applications, announced today results for its third quarter of
fiscal 2017, which ended on January 1,
2017.
Net earnings attributable to EnerSys stockholders ("Net
earnings") for the third quarter of fiscal 2017 were $36.2 million, or $0.82 per diluted share, including an unfavorable
highlighted net of tax impact of $15.8
million or $0.36 per share
from cash and non-cash charges and credits from our restructuring
plans and other highlighted items described in further detail in
the tables reconciling non-GAAP adjusted financial measures to
reported amounts.
Net earnings for the third quarter of fiscal 2016 were
$38.5 million, or $0.86 per diluted share, which included an
unfavorable highlighted net of tax impact of $3.0 million or $0.06 per share from cash and non-cash charges
and credits from our restructuring plans and other highlighted
items.
Excluding these highlighted items, adjusted Net earnings per
diluted share for the third quarter of fiscal 2017, on a non-GAAP
basis, were $1.18, which exceeded the
guidance of $1.12 to $1.16 per
diluted share given by the Company on November 9, 2016. These earnings compare to the
prior year third quarter adjusted Net earnings of $0.92 per diluted share. Please refer to the
section included herein under the heading "Reconciliation of
Non-GAAP Financial Measures" for a discussion of the Company's use
of non-GAAP adjusted financial information which include tables
reconciling GAAP and non-GAAP adjusted financial measures for the
quarters and nine months ended January 1,
2017 and December 27,
2015.
Net sales for the third quarter of fiscal 2017 were $563.7 million, a decrease of 2% from the prior
year third quarter net sales of $573.6
million and a 2% sequential quarterly decrease from the
second quarter of fiscal 2017 net sales of $576.0 million. The 2% decrease compared to the
prior year quarter was largely the result of a 3% decrease due to
foreign currency translation impact and a 1% decrease in organic
volume, partially offset by a 1% increase each from pricing and
acquisitions. The 2% sequential quarterly decrease was due to
foreign currency translation impact.
The Company's operating results for its business segments for
the third quarters of fiscal 2017 and 2016 are as follows:
|
Quarter
ended
|
|
($
millions)
|
|
January 1,
2017
|
|
December 27,
2015
|
|
Net sales by
segment
|
|
|
|
|
Americas
|
$
|
314.0
|
|
|
$
|
306.3
|
|
|
EMEA
|
186.1
|
|
|
196.8
|
|
|
Asia
|
63.6
|
|
|
70.5
|
|
|
|
|
|
|
Total net
sales
|
$
|
563.7
|
|
|
$
|
573.6
|
|
|
|
|
|
|
Operating
earnings
|
|
|
|
|
Americas
|
$
|
44.8
|
|
|
$
|
41.6
|
|
|
EMEA
|
20.5
|
|
|
16.5
|
|
|
Asia
|
4.0
|
|
|
1.7
|
|
|
Restructuring and
other exit charges - Americas
|
—
|
|
|
(0.9)
|
|
|
Inventory adjustment
relating to exit activities - EMEA
|
0.5
|
|
|
—
|
|
|
Restructuring and
other exit credits (charges) - EMEA
|
1.2
|
|
|
(2.1)
|
|
|
Restructuring charges
- Asia
|
—
|
|
|
(0.2)
|
|
|
Competition
investigations and related legal charges - EMEA
*
|
(17.0)
|
|
|
—
|
|
|
ERP system
implementation - Americas
|
(0.6)
|
|
|
(1.0)
|
|
|
Deferred purchase
consideration - Americas
|
1.9
|
|
|
—
|
|
|
Acquisition activity
expense - Americas
|
(0.1)
|
|
|
—
|
|
|
Acquisition activity
expense - EMEA
|
(0.1)
|
|
|
—
|
|
|
Acquisition activity
expense - Asia
|
—
|
|
|
(0.1)
|
|
|
|
|
|
|
Total operating
earnings
|
$
|
55.1
|
|
|
$
|
55.5
|
|
|
EMEA -
Europe, Middle East and Africa
|
|
* See Litigation
and Other Legal Matters in Note 7 - Commitments, Contingencies and
Litigation to the Consolidated Condensed Financial Statements in
our Quarterly Report on Form 10-Q for the quarter ended January 1,
2017 for more details.
|
Net earnings for the nine months of fiscal 2017 were
$126.4 million, or $2.88 per diluted share, including an unfavorable
net of tax impact of $26.1 million or
$0.59 per share from cash and
non-cash charges and credits from our restructuring plans and other
highlighted items described in further detail in the tables
reconciling non-GAAP adjusted financial measures to reported
amounts.
Net earnings for the nine months of fiscal 2016 were
$126.9 million, or $2.76 per diluted share, including an unfavorable
net of tax impact of $6.0 million or
$0.14 per share from cash and
non-cash charges and credits from our restructuring plans and other
highlighted items.
Adjusted Net earnings for the nine months of fiscal 2017, on a
non-GAAP basis, were $3.47 per
diluted share. This compares to the prior year nine months adjusted
Net earnings of $2.90 per diluted
share. Please refer to the section included herein under the
heading "Reconciliation of Non-GAAP Financial Measures" for a
discussion of the Company's use of non-GAAP adjusted financial
information.
Net sales for the nine months of fiscal 2017 were $1,740.3 million, an increase of 2% from the net
sales of $1,704.8 million in the
comparable period in fiscal 2016. The 2% increase was largely the
result of a 2% increase in organic volume and acquisitions each,
partially offset by a 2% decrease due to foreign currency
translation impact.
The Company's operating results for its business segments for
the nine months of fiscal years 2017 and 2016 are as follows:
|
Nine months
ended
|
|
($
millions)
|
|
January 1,
2017
|
|
December 27,
2015
|
|
Net sales by
segment
|
|
|
|
|
Americas
|
$
|
968.5
|
|
|
$
|
945.8
|
|
|
EMEA
|
563.8
|
|
|
582.9
|
|
|
Asia
|
208.0
|
|
|
176.1
|
|
|
|
|
|
|
Total net
sales
|
$
|
1,740.3
|
|
|
$
|
1,704.8
|
|
|
|
|
|
|
Operating
earnings
|
|
|
|
|
Americas
|
$
|
145.8
|
|
|
$
|
137.3
|
|
|
EMEA
|
57.3
|
|
|
54.2
|
|
|
Asia
|
11.8
|
|
|
1.8
|
|
|
Restructuring charges
- Americas
|
(0.9)
|
|
|
(1.5)
|
|
|
Inventory adjustment
relating to exit activities - EMEA
|
(2.1)
|
|
|
—
|
|
|
Restructuring and
other exit charges - EMEA
|
(3.7)
|
|
|
(4.6)
|
|
|
Restructuring charges
- Asia
|
(0.4)
|
|
|
(0.9)
|
|
|
Competition
investigations and related legal charges - EMEA
*
|
(17.0)
|
|
|
(4.0)
|
|
|
Reversal of legal
accrual, net of fees - Americas
|
—
|
|
|
0.8
|
|
|
Gain on sale of
facility - Asia
|
—
|
|
|
4.3
|
|
|
ERP system
implementation - Americas
|
(8.3)
|
|
|
(2.8)
|
|
|
Deferred purchase
consideration - Americas
|
1.9
|
|
|
—
|
|
|
Acquisition activity
expense - Americas
|
(0.2)
|
|
|
(0.2)
|
|
|
Acquisition activity
expense - EMEA
|
(0.2)
|
|
|
—
|
|
|
Acquisition activity
expense - Asia
|
—
|
|
|
(0.3)
|
|
|
|
|
|
|
Total operating
earnings
|
$
|
184.0
|
|
|
$
|
184.1
|
|
|
EMEA -
Europe, Middle East and Africa
|
|
* See Litigation
and Other Legal Matters in Note 7 - Commitments, Contingencies and
Litigation to the Consolidated Condensed Financial Statements in
our Quarterly Report on Form 10-Q for the quarter ended January 1,
2017 for more details.
|
"I am pleased with the results of the third quarter," stated
David M. Shaffer, President and
Chief Executive Officer of EnerSys. "Despite the sequential
increase in commodity costs, we experienced third quarter records
in adjusted gross profit percentage and earnings per share. I
am looking forward to our February 28,
2017, Investor Day at The New York Stock Exchange where we
will highlight our accomplishments and strategic goals, Lean
initiatives, Product Roadmap, Asia
growth opportunities and M&A and financial strategies. Our
fourth quarter guidance for non-GAAP adjusted Net earnings per
share is $1.19 to $1.23, which
excludes an expected charge of $0.03
from our restructuring programs and $0.01 from acquisition expenses."
Reconciliation of Non-GAAP Financial Measures
This press release contains financial information determined by
methods other than in accordance with U.S. Generally Accepted
Accounting Principles, ("GAAP"). EnerSys' management uses the
non-GAAP measure "adjusted Net Earnings" in their analysis of the
Company's performance. This measure, as used by EnerSys in past
quarters and years, adjusts Net Earnings determined in accordance
with GAAP to reflect changes in financial results associated with
the Company's restructuring initiatives and other highlighted
charges and income items. Management believes the presentation of
this financial measure reflecting these non-GAAP adjustments
provides important supplemental information in evaluating the
operating results of the Company as distinct from results that
include items that are not indicative of ongoing operating results;
in particular, those charges that the Company incurs as a result of
restructuring activities, impairment of goodwill and
indefinite-lived intangibles and other assets and those charges and
credits that are not directly related to operating unit
performance, such as fees and expenses related to acquisition
activities, stock-based compensation of senior executives,
significant legal proceedings, ERP system implementation and tax
valuation allowance changes. Because these charges are not incurred
as a result of ongoing operations, or are incurred as a result of a
potential or previous acquisition, they are not as helpful a
measure of the performance of our underlying business, particularly
in light of their unpredictable nature and are difficult to
forecast. This non-GAAP disclosure has limitations as an analytical
tool, should not be viewed as a substitute for Net Earnings
determined in accordance with GAAP, and should not be considered in
isolation or as a substitute for analysis of the Company's results
as reported under GAAP, nor is it necessarily comparable to
non-GAAP performance measures that may be presented by other
companies. Management believes that this non-GAAP supplemental
information will be helpful in understanding the Company's ongoing
operating results. This supplemental presentation should not be
construed as an inference that the Company's future results will be
unaffected by similar adjustments to Net Earnings determined in
accordance with GAAP.
Included below is a reconciliation of non-GAAP adjusted
financial measures to reported amounts. Non-GAAP adjusted Net
Earnings are calculated excluding restructuring and other
highlighted charges and credits. The following tables provide
additional information regarding certain non-GAAP measures:
|
Quarter
ended
|
|
|
January 1,
2017
|
|
|
December 27,
2015
|
|
|
(in millions,
except share and per share amounts)
|
|
|
Net Earnings
reconciliation
|
|
|
|
|
|
|
As reported Net
Earnings
|
$
|
36.2
|
|
|
|
$
|
38.5
|
|
|
|
Non-GAAP adjustments,
net of tax:
|
|
|
|
|
|
|
Restructuring and
other exit (credits) charges
|
(1.8)
|
|
(1)
|
|
2.4
|
|
(1)
|
|
Legal proceedings
charge
|
17.0
|
|
(2)
|
|
—
|
|
|
|
ERP system
implementation
|
0.4
|
|
(3)
|
|
0.6
|
|
(3)
|
|
Deferred purchase
consideration
|
(1.2)
|
|
(4)
|
|
—
|
|
|
|
Acquisition activity
expense
|
0.1
|
|
(6)
|
|
—
|
|
|
|
Noncontrolling
partner's share of restructuring and exit charges
|
1.3
|
|
(7)
|
|
—
|
|
|
|
Non-GAAP adjusted
Net Earnings
|
$
|
52.0
|
|
|
|
$
|
41.5
|
|
|
|
|
|
|
|
|
|
Outstanding shares
used in per share calculations
|
|
|
|
|
|
|
Basic
|
43,429,525
|
|
|
44,394,925
|
|
|
Diluted
|
44,049,674
|
|
|
44,976,204
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
Net Earnings per share:
|
|
|
|
|
|
|
Basic
|
$
|
1.20
|
|
|
|
$
|
0.94
|
|
|
|
Diluted
|
$
|
1.18
|
|
|
|
$
|
0.92
|
|
|
|
|
|
|
|
|
|
Reported Net
Earnings per share:
|
|
|
|
|
|
|
Basic
|
$
|
0.83
|
|
|
|
$
|
0.87
|
|
|
|
Diluted
|
$
|
0.82
|
|
|
|
$
|
0.86
|
|
|
|
Dividends per
common share
|
$
|
0.175
|
|
|
|
$
|
0.175
|
|
|
The following table provides the regional allocation of the
non-GAAP adjustments shown in the reconciliation above:
|
|
Quarter
ended
|
|
|
January 1,
2017
|
|
December 27,
2015
|
|
|
Pre-tax
|
|
Net of tax
|
|
Pre-tax
|
|
Net of tax
|
|
|
($
millions)
|
|
($
millions)
|
|
(1) Restructuring and
other exit charges - Americas
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.9
|
|
|
$
|
0.5
|
|
|
(1) Inventory
adjustment relating to exit activities - EMEA - (South Africa joint
venture)
|
|
(0.5)
|
|
|
(0.5)
|
|
|
—
|
|
|
—
|
|
|
(1) Restructuring and
other exit (credits) charges - EMEA
|
|
(1.2)
|
|
|
(1.3)
|
|
|
2.1
|
|
|
1.7
|
|
|
(1) Restructuring
charges - Asia
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
0.2
|
|
|
(2) Competition
investigations and related legal charges - EMEA *
|
|
17.0
|
|
|
17.0
|
|
|
—
|
|
|
—
|
|
|
(3) ERP system
implementation - Americas
|
|
0.6
|
|
|
0.4
|
|
|
1.0
|
|
|
0.6
|
|
|
(4) Deferred purchase
consideration - Americas
|
|
(1.9)
|
|
|
(1.2)
|
|
|
—
|
|
|
—
|
|
|
(6) Acquisition
activity expense - Americas
|
|
0.1
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
(6) Acquisition
activity expense - EMEA
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6) Acquisition
activity expense - Asia
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
(7) Noncontrolling
partner's share of restructuring and exit charges - EMEA - (South
Africa joint venture)
|
|
—
|
|
|
1.3
|
|
|
—
|
|
|
—
|
|
|
Total Non-GAAP
adjustments
|
|
$
|
14.2
|
|
|
$
|
15.8
|
|
|
$
|
4.3
|
|
|
$
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EMEA - Europe,
Middle East and Africa
|
|
* See Litigation and
Other Legal Matters in Note 7 - Commitments, Contingencies and
Litigation to the Consolidated Condensed Financial Statements in
our Quarterly Report on Form 10-Q for the quarter ended January 1,
2017 for more details.
|
|
Nine months
ended
|
|
|
January 1,
2017
|
|
|
December 27,
2015
|
|
|
(in millions,
except share and per share amounts)
|
|
|
Net Earnings
reconciliation
|
|
|
|
|
|
|
As reported Net
Earnings
|
$
|
126.4
|
|
|
|
$
|
126.9
|
|
|
|
Non-GAAP adjustments,
net of tax:
|
|
|
|
|
|
|
Restructuring and
other exit charges
|
6.0
|
|
(1)
|
|
5.3
|
|
(1)
|
|
Legal proceedings
charge / (reversal of legal accrual, net of fees)
|
17.0
|
|
(2)
|
|
2.9
|
|
(2)
|
|
ERP system
implementation
|
5.3
|
|
(3)
|
|
1.7
|
|
(3)
|
|
Deferred purchase
consideration
|
(1.2)
|
|
(4)
|
|
—
|
|
|
|
Gain on sale of
facility
|
—
|
|
|
|
(3.3)
|
|
(5)
|
|
Acquisition activity
expense
|
0.3
|
|
(6)
|
|
0.4
|
|
(6)
|
|
Noncontrolling
partner's share of restructuring and exit charges
|
(1.3)
|
|
(7)
|
|
—
|
|
|
|
Tax benefit related to
stock-based compensation of senior executives
|
—
|
|
|
|
(1.0)
|
|
(8)
|
|
Non-GAAP adjusted
Net Earnings
|
$
|
152.5
|
|
|
|
$
|
132.9
|
|
|
|
|
|
|
|
|
|
Outstanding shares
used in per share calculations
|
|
|
|
|
|
|
Basic
|
43,375,474
|
|
|
44,524,289
|
|
|
Diluted
|
43,943,010
|
|
|
45,912,659
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
Net Earnings per share:
|
|
|
|
|
|
|
Basic
|
$
|
3.52
|
|
|
|
$
|
2.99
|
|
|
|
Diluted
|
$
|
3.47
|
|
|
|
$
|
2.90
|
|
|
|
|
|
|
|
|
|
Reported Net
Earnings per share:
|
|
|
|
|
|
|
Basic
|
$
|
2.92
|
|
|
|
$
|
2.85
|
|
|
|
Diluted
|
$
|
2.88
|
|
|
|
$
|
2.76
|
|
|
|
Dividends per
common share
|
$
|
0.525
|
|
|
|
$
|
0.525
|
|
|
The following table provides the regional allocation of the
non-GAAP adjustments shown in the reconciliation above:
|
|
Nine months
ended
|
|
|
January 1,
2017
|
|
December 27,
2015
|
|
|
Pre-tax
|
|
Net of tax
|
|
Pre-tax
|
|
Net of tax
|
|
|
($
millions)
|
|
($
millions)
|
|
(1) Restructuring
charges - Americas
|
|
$
|
0.9
|
|
|
$
|
0.5
|
|
|
$
|
1.5
|
|
|
$
|
0.9
|
|
|
(1) Inventory
adjustment relating to exit activities - EMEA - (South Africa joint
venture)
|
|
2.1
|
|
|
2.1
|
|
|
—
|
|
|
—
|
|
|
(1) Restructuring and
other exit charges - EMEA
|
|
3.7
|
|
|
3.0
|
|
|
4.6
|
|
|
3.5
|
|
|
(1) Restructuring
charges - Asia
|
|
0.4
|
|
|
0.4
|
|
|
0.9
|
|
|
0.9
|
|
|
(2) Competition
investigations and related legal charges - EMEA *
|
|
17.0
|
|
|
17.0
|
|
|
4.0
|
|
|
3.4
|
|
|
(2) Reversal of legal
accrual, net of fees - Americas
|
|
—
|
|
|
—
|
|
|
(0.8)
|
|
|
(0.5)
|
|
|
(3) ERP system
implementation - Americas
|
|
8.3
|
|
|
5.3
|
|
|
2.8
|
|
|
1.7
|
|
|
(4) Deferred purchase
consideration - Americas
|
|
(1.9)
|
|
|
(1.2)
|
|
|
—
|
|
|
—
|
|
|
(5) Gain on sale of
facility - Asia
|
|
—
|
|
|
—
|
|
|
(4.3)
|
|
|
(3.3)
|
|
|
(6) Acquisition
activity expense - Americas
|
|
0.2
|
|
|
0.2
|
|
|
0.2
|
|
|
0.2
|
|
|
(6) Acquisition
activity expense - EMEA
|
|
0.2
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
(6) Acquisition
activity expense - Asia
|
|
—
|
|
|
—
|
|
|
0.3
|
|
|
0.2
|
|
|
(7) Noncontrolling
partner's share of restructuring and exit charges - EMEA - (South
Africa joint venture)
|
|
—
|
|
|
(1.3)
|
|
|
—
|
|
|
—
|
|
|
(8) Tax benefit
related to stock-based compensation of senior executives
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.0)
|
|
|
Total Non-GAAP
adjustments
|
|
$
|
30.9
|
|
|
$
|
26.1
|
|
|
$
|
9.2
|
|
|
$
|
6.0
|
|
|
|
|
|
EMEA - Europe,
Middle East and Africa
|
|
* See Litigation and
Other Legal Matters in Note 7 - Commitments, Contingencies and
Litigation to the Consolidated Condensed Financial Statements in
our Quarterly Report on Form 10-Q for the quarter ended January 1,
2017 for more details.
|
|
Summary of
Earnings (Unaudited)
(In millions,
except share and per share data)
|
|
|
|
|
Quarter
ended
|
|
January 1,
2017
|
|
December 27,
2015
|
|
Net sales
|
$
|
563.7
|
|
|
$
|
573.6
|
|
|
Gross
profit
|
155.9
|
|
|
145.8
|
|
|
Operating
expenses
|
85.0
|
|
|
87.1
|
|
|
Restructuring and
other exit (credits) charges
|
(1.2)
|
|
|
3.2
|
|
|
Legal proceedings
charge
|
17.0
|
|
|
—
|
|
|
Operating
earnings
|
55.1
|
|
|
55.5
|
|
|
Earnings before
income taxes
|
50.6
|
|
|
49.0
|
|
|
Net earnings
attributable to EnerSys stockholders
|
$
|
36.2
|
|
|
$
|
38.5
|
|
|
|
|
|
|
Net earnings per
common share attributable to EnerSys stockholders:
|
|
|
|
|
Basic
|
$
|
0.83
|
|
|
$
|
0.87
|
|
|
Diluted
|
$
|
0.82
|
|
|
$
|
0.86
|
|
|
Dividends per common
share
|
$
|
0.175
|
|
|
$
|
0.175
|
|
|
Weighted-average
number of common shares used in per share calculations:
|
|
|
|
|
Basic
|
43,429,525
|
|
|
44,394,925
|
|
|
Diluted
|
44,049,674
|
|
|
44,976,204
|
|
|
|
|
|
|
|
|
Nine months
ended
|
|
January 1,
2017
|
|
December 27,
2015
|
|
Net sales
|
$
|
1,740.3
|
|
|
$
|
1,704.8
|
|
|
Gross
profit
|
483.5
|
|
|
451.2
|
|
|
Operating
expenses
|
277.5
|
|
|
261.2
|
|
|
Restructuring and
other exit charges
|
5.0
|
|
|
7.0
|
|
|
Legal proceedings
charge
|
17.0
|
|
|
3.2
|
|
|
Gain on sale of
facility
|
—
|
|
|
(4.3)
|
|
|
Operating
earnings
|
184.0
|
|
|
184.1
|
|
|
Earnings before
income taxes
|
167.6
|
|
|
164.8
|
|
|
Net earnings
attributable to EnerSys stockholders
|
$
|
126.4
|
|
|
$
|
126.9
|
|
|
|
|
|
|
Net earnings per
common share attributable to EnerSys stockholders:
|
|
|
|
|
Basic
|
$
|
2.92
|
|
|
$
|
2.85
|
|
|
Diluted
|
$
|
2.88
|
|
|
$
|
2.76
|
|
|
Dividends per common
share
|
$
|
0.525
|
|
|
$
|
0.525
|
|
|
Weighted-average
number of common shares used in per share calculations:
|
|
|
|
|
Basic
|
43,375,474
|
|
|
44,524,289
|
|
|
Diluted
|
43,943,010
|
|
|
45,912,659
|
|
EnerSys also announced that it will host a conference call to
discuss the Company's third quarter fiscal year 2017 financial
results and provide an overview of the business. The call will
conclude with a question and answer session.
The call, scheduled for Thursday,
February 9, 2017 at 9:00 a.m.,
Eastern Time, will be hosted by David M. Shaffer, Chief Executive Officer, and
Michael J. Schmidtlein, Chief
Financial Officer.
The call will also be Webcast on EnerSys' website. There will be
a free download of a compatible media player on the Company's
website at http://www.enersys.com.
The conference call information is:
|
Date:
|
Thursday, February 9,
2017
|
|
Time:
|
9:00 a.m. Eastern
Time
|
|
Via
Internet:
|
http://www.enersys.com
|
|
Domestic Dial-In
Number:
|
877-359-9508
|
|
International Dial-In
Number:
|
224-357-2393
|
|
Passcode:
|
48203166
|
A replay of the conference call will be available from
12:00 p.m. on February 9, 2017 through midnight on March 11, 2017.
The replay information is:
|
Via
Internet:
|
http://www.enersys.com
|
|
Domestic Replay
Number:
|
855-859-2056
|
|
International Replay
Number:
|
404-537-3406
|
|
Passcode:
|
48203166
|
EDITOR'S NOTE: EnerSys, the global leader in stored energy
solutions for industrial applications, manufactures and distributes
reserve power and motive power batteries, battery chargers, power
equipment, battery accessories and outdoor equipment enclosure
solutions to customers worldwide. Motive power batteries and
chargers are utilized in electric forklift trucks and other
commercial electric powered vehicles. Reserve power batteries
are used in the telecommunication and utility industries,
uninterruptible power supplies, and numerous applications requiring
stored energy solutions including medical, aerospace and defense
systems. Outdoor equipment enclosure products are utilized in
the telecommunication, cable, utility, transportation
industries and by government and defense customers. The
company also provides aftermarket and customer support services to
its customers from over 100 countries through its sales and
manufacturing locations around the world.
More information regarding EnerSys can be found at
www.enersys.com.
Caution Concerning Forward-Looking Statements
This press release, and oral statements made regarding the
subjects of this release, contains forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995, or the Reform Act, which may include, but are not limited
to, statements regarding EnerSys' earnings estimates, intention to
pay quarterly cash dividends, return capital to stockholders,
plans, objectives, expectations and intentions and other statements
contained in this press release that are not historical facts,
including statements identified by words such as "believe," "plan,"
"seek," "expect," "intend," "estimate," "anticipate," "will," and
similar expressions. All statements addressing operating
performance, events, or developments that EnerSys expects or
anticipates will occur in the future, including statements relating
to sales growth, earnings or earnings per share growth, order
intake, backlog, payment of future cash dividends, execution of its
stock buy back program, judicial or regulatory proceedings, and
market share, as well as statements expressing optimism or
pessimism about future operating results or benefits from either
its cash dividend or its stock buy back programs, are
forward-looking statements within the meaning of the Reform Act.
The forward-looking statements are based on management's current
views and assumptions regarding future events and operating
performance, and are inherently subject to significant business,
economic, and competitive uncertainties and contingencies and
changes in circumstances, many of which are beyond the Company's
control. The statements in this press release are made as of the
date of this press release, even if subsequently made available by
EnerSys on its website or otherwise. EnerSys does not undertake any
obligation to update or revise these statements to reflect events
or circumstances occurring after the date of this press
release.
Although EnerSys does not make forward-looking statements unless
it believes it has a reasonable basis for doing so, EnerSys cannot
guarantee their accuracy. The foregoing factors, among others,
could cause actual results to differ materially from those
described in these forward-looking statements. For a list of other
factors which could affect EnerSys' results, including earnings
estimates, see EnerSys' filings with the Securities and Exchange
Commission,"Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations," including
"Forward-Looking Statements," set forth in EnerSys' Annual Report
on Form 10-K for the fiscal year ended March
31, 2016. No undue reliance should be placed on any
forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/enersys-reports-third-quarter-fiscal-2017-results-300404513.html
SOURCE EnerSys