http://stockcharts.com/h-sc/ui?s=ENS&p=D&b=5&g=0&id=p59191861522
EnerSys
2366 Bernville Road
Reading, PA 19605
United States - Map
Phone: 610-208-1991
Web Site: http://www.enersysinc.com
DETAILS
Index Membership: N/A
Sector: Industrial Goods
Industry: Industrial Electrical Equipment
Full Time Employees: 7,800
BUSINESS SUMMARY
EnerSys engages in the manufacture, marketing, and distribution of industrial batteries, such as reserve power or motive power batteries. Its reserve power products are used primarily for backup power applications, such as telecommunications systems; uninterruptible power systems; specialty power applications, including security systems, and for starting, lighting, and ignition applications; switchgear and electrical control systems used in electric utilities and energy pipelines; and commercial and military aircraft, submarines, and tactical military vehicles. The company's motive power products are used to provide power for electric material handling and material handling equipment, primarily electric industrial forklift trucks. It also manufactures and sells related direct current?DC?power products, including chargers, electronic power equipment, and various battery accessories. EnerSys offers reserve power batteries under the PowerSafe, DataSafe, Hawker, Genesis, Odyssey, Varta, and Cyclon brands; and motive power batteries under the Hawker, EnerSys- Ironclad, General Battery, Fiamm Motive Power, Uranio, Oldham, and Express brands. In addition, it provides related after-market and customer-support services for industrial batteries. EnerSys markets and sells its products in approximately 100 countries through a network of distributors, independent representatives, and an internal sales force primarily in Europe, the Americas, and Asia. The company was founded in 1999. It was formerly known as Yuasa, Inc. and changed its name to EnerSys in 2001. EnerSys is based in Reading, Pennsylvania.
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EnerSys Reports Second Fiscal Quarter of 2008 Results
Wednesday November 7, 8:08 pm ET
READING, Pa., Nov. 7 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS - News), the world's largest manufacturer, marketer and distributor of industrial batteries, announced today its financial results for the second fiscal quarter of 2008. Net earnings for the second fiscal quarter of 2008 were up 46%, and on a non-GAAP adjusted basis, were up 51% when compared to the comparable prior year amounts. 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.
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Net earnings for the second fiscal quarter of 2008 were $16.8 million, or $0.36 per basic share and $0.35 per diluted share, which includes $0.3 million ($0.4 million pre-tax) unfavorable impact of the continuation of the previously disclosed European restructuring plan. Excluding the highlighted European restructuring charges in the second fiscal quarter of 2008, non-GAAP adjusted net earnings were $17.1 million, or $0.35 per diluted share, and exceed the previous guidance of $0.22 - $0.26 per diluted share provided on August 8, 2007. The previous guidance also excluded the unfavorable impact of the European restructuring charges.
Net earnings in the second fiscal quarter of the prior year were $ 11.5 million, or $0.25 per basic share and $0.24 per diluted share, which included $0.7 million ($1.0 million pre-tax) or a $0.01 per share favorable impact from a legal settlement, offset by the unfavorable impact from professional fees related to a shelf registration and an abandoned acquisition of $0.5 million ($0.7 million pre-tax) or a $0.01 per share. Excluding the highlighted charges and credits, non-GAAP adjusted net earnings for the second fiscal quarter of the prior year were $11.3 million or $0.24 per basic and diluted share.
Net sales for the second fiscal quarter of 2008 were $461.5 million compared to $353.9 million in the comparable period of the prior year, or an increase of 30%.
EnerSys' operating results for its reporting segments for the second
fiscal quarter of 2008 and comparable prior year period are as follows (in
millions):
Fiscal quarters ended
October 1, 2006 September 30, 2007
Operating Operating
Net Sales Earnings Net Sales Earnings
Reserve Power $158.8 $10.3 $198.6 $9.3
Motive Power 195.1 13.4 262.9 22.6
Restructuring charges - - - (0.4)
Litigation settlement
income - 1.0 - -
$353.9 $24.7 $461.5 $31.5
Net earnings for the six fiscal months of 2008 were up 2%, and on a non- GAAP adjusted basis, were up 45% when compared to the comparable prior year amounts. Please refer to the section included herein under the heading "Reconciliation of Non-GAAP Adjusted Financial Measures" for a discussion of the Company's use of non-GAAP adjusted financial information.
Net earnings for the six fiscal months of 2008 were $24.2 million or $0.51 per basic share and $0.50 per diluted share, included an unfavorable $0.15 per share impact from the $7.1 million ($10.3 million pre-tax) of the European restructuring and $0.1 million ($0.2 million pre-tax) unfavorable impact of professional fees related to a secondary offering. Excluding the highlighted charges, non-GAAP adjusted net earnings for the six fiscal months of 2008 were $31.4 million or $0.67 per basic share and $0.65 per diluted share.
Net earnings in the six fiscal months of the prior year were $23.6 million, or $0.51 per basic share and $0.50 per diluted share, which included $2.6 million ($3.8 million pre-tax) or a $0.6 per share favorable impact from legal settlements, offset by the unfavorable impact of $0.5 million ($0.8 million pre-tax) or a $0.01 per share from professional fees related to a shelf registration and an abandoned acquisition. Excluding the highlighted charges and credits, non-GAAP adjusted net earnings for the six fiscal months of the prior year were $21.5 million or $0.46 per basic share and $0.45 per diluted share.
Net sales for the six fiscal months of 2008 were $891.3 million compared to $713.0 million in the prior year, or an increase of 25%.
EnerSys' operating results for its reporting segments for the six fiscal months of 2008 and comparable prior year period are as follows (in millions):
Six fiscal months ended
October 1, 2006 September 30, 2007
Operating Operating
Net Sales Earnings Net Sales Earnings
Reserve Power $317.2 $19.7 $383.3 $17.8
Motive Power 395.8 26.8 508.0 43.3
Restructuring and
other charges - - - (10.3)
Litigation settlement
income - 3.8 - -
$713.0 $50.3 $891.3 $50.8
"We continue to experience record sales with broad based growth in all regions of the world and in both of our market segments. I believe that our customers realize the value and the quality of the products and services that we deliver to them every day," stated John D. Craig, chairman, president and chief executive officer. "I am pleased with our earnings in the second quarter, resulting from our increased sales volume and the impact of our investments in support of cost reductions and lower cost manufacturing facilities. Offsetting these improvements, however, are increased commodity costs, especially lead which reached an unprecedented level in our second quarter. We have not yet fully recovered the impact of these cost increases through selling price adjustments."
Craig added, "We anticipate that adjusted diluted net earnings per share for our third fiscal quarter of 2008 will be between $0.25 and $0.29, which excludes the expected additional European restructuring charges of approximately $2 million ($0.03 per share) as described in our press release of May 23, 2007."
This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on management's current expectations and subject to uncertainties and changes in circumstances. The Company's actual results may differ materially from the forward-looking statements for a number of reasons. For a list of the factors, which could affect the Company's results, including earnings estimates, see "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations," including "Forward-Looking Statements," set forth in the Company's Quarterly Report on Form 10-Q for the second fiscal quarter ended September 30, 2007, which was filed with the U.S. Securities and Exchange Commission.
Reconciliation of Non-GAAP Adjusted 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 non-GAAP measures in their analysis of the Company's performance. These measures, as used by EnerSys in past quarters and years, adjust net earnings determined in accordance with GAAP to reflect changes in financial results associated with the Company's restructuring initiatives and highlighted charges and income items. Management believes presentations of financial measures reflecting these non-GAAP adjustments provide 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, the charges that the Company incurs as a result of restructuring activities associated with our acquisitions; and those charges and credits that are not directly related to operating unit performance and are unusual in nature. Because these charges are incurred as a result of an acquisition, they are not a valid measure of the performance of our underlying business. These disclosures have limitations as an analytical tool, should not be viewed as a substitute for net earnings determined in accordance with GAAP, should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP, nor are they 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 highlighted charges. The following tables provide additional information regarding certain non-GAAP measures:
Fiscal Quarters Ended
October 1, September 30,
2006 2007
(in millions,
except share and
per share amounts)
Net earnings reconciliation
As reported net earnings $ 11.5 $ 16.8
Non-GAAP adjustments (net of tax):
Restructuring charges - 0.3(1)
Litigation settlement income (0.7)(2) -
Shelf registration statement
and an abandoned acquisition 0.5(3) -
Non-GAAP adjusted net earnings $11.3 $17.1
Outstanding shares used in
per share calculations
Basic 46,471,958 47,098,758
Diluted 47,769,804 48,068,262
Non-GAAP adjusted net
earnings per share:
Basic $0.24 $0.36
Diluted $0.24 $0.35
Reported net earnings per share:
Basic $0.25 $0.36
Diluted $0.24 $0.35
Six fiscal months ended
October 1, September 30,
2006 2007
(in millions,
except share and
per share amounts)
Net earnings reconciliation
As reported net earnings $ 23.6 $ 24.2
Non-GAAP adjustments (net of tax):
Restructuring charge - 7.1(1)
Litigation settlement income (2.6)(2) -
Shelf registration statement
and secondary offering
and an abandoned acquisition 0.5(3) 0.1(3)
Non-GAAP adjusted net earnings
$ 21.5 $ 31.4
Outstanding shares used in
per share calculations
Basic 46,404,985 46,992,038
Diluted 47,457,668 47,959,897
Non-GAAP adjusted net
earnings per share:
Basic $ 0.46 $ 0.67
Diluted $ 0.45 $ 0.65
Reported net earnings per share:
Basic $ 0.51 $ 0.51
Diluted $ 0.50 $ 0.50
(1) Resulting from pre-tax charges of $0.4 million in the second fiscal
quarter of 2008 and $10.3 million in the fiscal six months of 2008,
primarily for severance costs related to staff reductions and other
restructuring activities in Europe.
(2) Resulting from two favorable legal settlements, net of fees and
expenses, recorded in the first and second fiscal quarters of 2007.
(3) Resulting from legal and professional fees related to a shelf
registration statement and secondary offering, and an abandoned
acquisition, recorded in the first fiscal quarter of 2008 and the
second fiscal quarter of 2007.
EnerSys
Summary of Earnings
(In millions, except share and per share data)
(Unaudited)
Fiscal quarter ended
October 1 September 30,
2006 2007
Net sales $ 353.9 $ 461.5
Gross profit 77.7 92.0
Operating expenses 54.0 60.0
Restructuring and other charges - 0.4
Litigation settlement (1.0) -
Operating earnings 24.7 31.5
Earnings before income taxes 16.8 23.7
Net earnings $ 11.5 $ 16.8
Net earnings per common share
Basic $ 0.25 $ 0.36
Diluted $ 0.24 $ 0.35
Weighted average shares outstanding
Basic 46,471,958 47,098,758
Diluted 47,769,804 48,068,262
EnerSys
Summary of Earnings
(In millions, except share and per share data)
(Unaudited)
Six fiscal months ended
October 1, September 30,
2006 2007
Net sales $ 713.0 $ 891.3
Gross profit 154.8 178.6
Operating expenses 108.3 117.5
Restructuring and other charges - 10.3
Litigation settlement income (3.8) -
Operating earnings 50.3 50.8
Earnings before income taxes 34.6 34.4
Net earnings $ 23.6 $ 24.2
Net earnings per common share
Basic $ 0.51 $ 0.51
Diluted $ 0.50 $ 0.50
Weighted average shares outstanding
Basic 46,404,985 46,992,038
Diluted 47,457,668 47,959,897
EnerSys will host a conference call to discuss the Company's second fiscal quarter 2008 financial results and provide an overview of the business. The call will conclude with a question and answer session.
The call, scheduled for Thursday, November 8, 2007, at 9:00 a.m. Eastern Time, will be hosted by John D. Craig, Chairman, President and Chief Executive Officer and Michael T. Philion, Executive Vice President - Finance and 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, November 8, 2007
Time: 9:00 a.m. Eastern Time
Via Internet: http://www.enersys.com
Domestic Call-In Number: 866-831-6247
International Dial-In Number: 617-213-8856
Passcode: 35669119
A replay of the conference call will be available from 11:00 a.m. on November 8, 2007, through midnight on December 7, 2007.
Via Internet: http://www.enersys.com
Domestic Call-In Number: 888-286-8010
International Dial-In Number: 617-801-6888
Passcode: 28935562
For more information, please contact Richard Zuidema, Executive Vice President, EnerSys, P.O. Box 14145, Reading, PA 19612-4145. Tel: 800-538- 3627; Website http://www.enersys.com.
About EnerSys
EnerSys, the world leader in stored energy solutions for industrial applications, manufactures, distributes and services reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Reserve power batteries are used in the telecommunications and utility industries, uninterruptible power suppliers, and numerous applications requiring standby power. Motive power batteries are utilized in electric forklift trucks and other commercial electric powered vehicles. 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 http://www.enersys.com.
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Source: EnerySys
This is very interesting.
I like the trends in revenues and EPS. Nice valuation also, cheap relative to growth imo.
Yep, very reasonable right now, probably not for long. Don't forget to check out the others also though. Sometimes very expensive = very high quality.
Made this weeks IBD 100 at #98.
People really want to own this one..very large volume.
I won't chase her, but maybe a good buying opp if it pulls back to lower 20s...
Is ENS prepping for another move higher now?
Nice upside volume again.
Tryin to run again....At a new high now.
Nice find!
The 3 yr weekly chart is classic break out - and with the market being as spooked, a 38.2 fib retrace back to $19.10 area is possible
(http://img.photobucket.com/albums/v11/kcscott/ENS.jpg)
More likely, though on the 18 mo. would be a pullback to $20.13 area
(http://img.photobucket.com/albums/v11/kcscott/ENS2.jpg)
Just need to be patient...
I'm going to buy some of this stock soon. I think it's a gem.
I like the look of the chart...the way the 50 ma is. Whenever it has a perfect look like that and the fundamentals are good, I think stocks have an enormous tendency to just ride the 50 ma up at a similar distance. And it just keeps on pushing the stock up. .I see ENS at $40.
Quote from: bjc on December 29, 2007, 12:03:33 AM
I'm going to buy some of this stock soon. I think it's a gem.
I like the look of the chart...the way the 50 ma is. Whenever it has a perfect look like that and the fundamentals are good, I think stocks have an enormous tendency to just ride the 50 ma up at a similar distance. And it just keeps on pushing the stock up. .I see ENS at $40.
You're right bjc. The stock never flinched much through all the turmoil. Rising very nicely.
I hope you're in this one Sully, I neglected to buy. Wish I did when it dipped to the low 20s like I said when I first posted in this thread!
Quote from: bjc on January 10, 2008, 07:17:57 PM
I hope you're in this one Sully, I neglected to buy. Wish I did when it dipped to the low 20s like I said when I first posted in this thread!
I have some "skin" in it bjc, but I also procrastinated and then never did buy as much as I intended.
9:49AM Enersys awarded production contract by US Navy for nuclear submarine batteries (ENS) 22.80 -0.14 : Co announces that its EnerSys Energy Products subsidiary has received an initial contract award from the US Navy to produce valve regulated lead acid batteries using its proprietary thin plate pure lead technology. This award represents 100% of the US Navy's requirement under their 2007 solicitation for VRLA submarine batteries in continuation of their effort to retrofit the entire nuclear submarine fleet with VRLA batteries in place of the legacy flooded lead-acid batteries.
ENS posted earnings...after hours it is moving up.
http://biz.yahoo.com/prnews/080206/new100.html?.v=26
update
AP
Big earnings, increased outlook lift EnerSys
Thursday June 12, 7:43 pm ET
Shares of industrial battery maker EnerSys jump on big fiscal 4th-qtr profit, raised outlook
READING, Pa. (AP) -- Shares of industrial battery maker EnerSys Inc. surged Thursday on a surprisingly big quarterly profit plus an increase in its outlook for current quarter earnings.
Shares rose $4.78, or 15 percent, to $35.68.
Excluding one-time charges, the company posted adjusted earnings per share of 42 cents per share. Analysts polled by Thomson Financial expected, on average, profit of 38 cents per share. Such estimates typically exclude one-time charges.
The strong fiscal fourth-quarter results led the company to increase its earnings per share outlook for the first quarter of fiscal 2009 to a range of 45 cents to 49 cents, up from a previous projection of 40 cents to 44 cents.
Jefferies & Co. analyst Paul Clegg cited the surprisingly large profit plus increased guidance as he raised his price target to $43 from $32.
"Moderating lead costs could reveal substantially higher earnings power resulting from cost cutting, pricing power and acquisition synergies," Clegg wrote in a client note. "While lead costs and economic growth remain risks, the company's key market have continued to show robust demand."
The analyst also raised the possibility that EnerSys may be preparing for an acquisition.
"The company's recent decision to recapitalize its balance sheet, including the use of a low coupon convert suggests to us a "girding" of the balance sheet, possibly for additional M&A opportunities."
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Very nice BigSully1....Applaud your work!!! ;) ;D
52wk Range: 17.08 - 33.98
Volume: 4,292,607
Avg Vol (3m): 718,246
Market Cap: 1.74B
P/E (ttm): 33.76
EPS (ttm): 1.06
Div & Yield: N/A (N/A)
Technicals
Record Price High
Close Above the 13-day MA
Gap Up
Percentage Gainer
Price Gainer
Last Price Quote is:
15.25%above 13-day MA
27.29%above 50-day MA
RS Rating: 94
Fundamentals
Earnings Expected on Jun 12
Key Data:
Market Cap (M): $1,643.93
P/E Ratio: 29.92
PEG Ratio: N/A
Next Earnings: 08/06/2008
Last Analyst Rating: Neutral