enersys reports preliminary fourth quarter and full year fiscal 2019 results - outdoor equipment enclosure

READING, Pa.
May 16, 2019 (GLOBE NEWSWIRE)--EnerSys (NYSE: ENS)
The global leader in industrial applied storage energy solutions today announced preliminary results for the fourth quarter and full year of fiscal 2019 as of March 31, 2019.
Please note that these results are preliminary and while management would like them to be our final results, they may change.
Net profit attributable to EnerSys shareholders (“Net earnings”)
The fourth quarter of fiscal 2019 is expected to be $18.
5 million, or $0.
The diluted stock per share was $42, including the unfavorable highlighting after deducting the tax impact of $43.
6 million, or $1.
01/diluted share, from the highlighted items described in further detail in the table below, check the non-
GAAP adjusted the financial indicators to the reported amount.
Included at $43.
$27 is 6 million.
3 million was previously disclosed in our recent document.
In the fourth quarter of fiscal 2018, EnerSys shareholders had a net profit of $54.
Million, or $1.
Diluted stock per share is $27, which includes a favorable highlighting after deducting the tax impact of $1. $5 million or $0.
03 per share deducted from the highlighted items further described in detail in the table below
GAAP adjusted the financial indicators to the reported amount. The $1.
5 million deduction of tax impact, including a $9 Tax offer.
6 million the foreign valuation allowance was partially offset by $4.
1 million tax expenditures related to the recently enacted tax reduction and Employment Act (“Tax Act”).
Excluding these highlighted items, adjusted net profit per share for the fourth quarter of fiscal 2019
The GAAP Base is expected to be $1.
43, compared to the $1 guidance. 41 to $1.
The company gave a diluted share of 45 per share in the fourth quarter of February 6, 2019.
These revenues are compared to adjusted net income of $1 in the fourth quarter of last year.
24 per share after dilution.
Please refer to the section under the title "uncoordinated" of this article
GAAP financial measures "to discuss the use of non-
Us gaap adjusts financial information, including generally recognized accounting principles and non-GAAP
GAAP adjusted its financial indicators for the quarter and 12 months ended March 31, 2019 and 2018.
Net sales for the fourth quarter of fiscal 2019 were $796.
6 million, up 17% from $683 in net sales in the fourth quarter of last year.
Net sales of 17% and 2019 increased by 680 from the third quarter of the third quarter to $. 0 million.
Compared with the previous quarter, this quarter's growth was due to an increase of 20% in Alpha acquisitions, an increase of 1% in price and organic volumes, and a decrease of 5% in foreign currency conversion effects, partially offset.
The quarter-on-quarter increase of 17% was mainly due to an increase of 16% in acquisitions and an increase of 2% in organic volumes, partially offset by a 1% reduction in pricing.
As mentioned earlier, EnerSys completed its acquisition of Alpha Group subsidiaries and assets in December 7, 2018.
For the period ending March 31, 2019 when EnerSys had Alpha, the acquisition contribution was expected to be $162.
Net sales of $5 million (1. 3)
Net profit is million.
Not including-
Temporary impact on inventory valuation, consolidation and restructuring costs related to time transaction costs, procurement accounting, and amortization of intangible assets, the contribution to net profit will be $6. 4 million.
Net profit for the 12 months of fiscal 2019 is expected to be $160.
2 million, or $3.
Diluted shares per share of $73, including net tax impact of $51.
9 million, or $1.
Cash and non-cash diluted per share 20
The following table further describes in detail the cash cost of the highlighted item and checks the non-
GAAP adjusted the financial indicators to the reported amount.
The 12-month net profit for fiscal 2018 was $119.
6 million, or $2.
Diluted shares per share were $77, which included a net adverse tax impact of $80. $9 million or $1.
88/diluted share per share from Highlighted items further detailed in the table below, check non
GAAP adjusted the financial indicators to the reported amount. The $80.
9 million net tax costs are estimated at $81 after deducting the tax impact.
4 million by one-
A $97 time transition fee.
5 million, tax incentives related to US re-measurement
US Deferred tax is $14.
1 million, $2 tax discount.
Million is related to reducing the federal effective tax rate of 2018 fiscal year 31.
5%, due to the tax law.
Adjusted net income for 12 months in fiscal 2019
It is expected to be $4 in accordance with recognized accounting principles.
93 per share after dilution.
The adjusted 12-month net profit compared to the previous year was $4.
65 per share after dilution.
Please refer to the section under the title "uncoordinated" of this article
GAAP financial measures "to discuss the use of non-
Adjusted financial information.
Net sales for the 12 months of fiscal 2019 were $2,808.
Million, an increase of 9% over net sales of $2,581.
The same period of 8 million fiscal year was 2018.
This increase was due to a 6% increase in Alpha acquisitions, a 3% increase in organic volumes and a 2% increase in pricing, partially offset by a 2% decrease in foreign currency conversion.
"Our enterprise resource planning has had a negative impact on the fourth quarter (ERP)
System conversion for KY Richmond.
The plant lost about 15 days of production in the fourth quarter, and while the plant withdrew from the parade at record monthly shipment levels, it failed to make up for the shortage of production in the quarter.
As we pulled out of the fourth quarter with a record backlog, our power Americas orders continued to be strong.
The US factory is driving the normal lead in restoring business --times.
Compared to our guidance forecast, we were able to make up for the difference in performance over expectations in EMEA, which also had a favourable effect on the tax rate, David M said: "Just like some separate tax offers and amortization that excludes Alpha intangible assets. "
Sherver, president and chief executive of EnerSys.
"Our first quarter
Net earnings per share adjusted by GAAP are between $1. 30 to $1.
34, excluding the expected charge of $0.
24 mainly from outstanding projects related to restructuring plans, ERP system implementation costs and amortization of intangible assets determined by Alpha. ” Mr.
Shaffer added, "our first-quarter guide anticipates a recovery in our powered American production, offset by the continued weakness of our traditional cable business in the Americas.
Several of our AmericansS.
Telecom customers have delayed the normal mode of spending on traditional networks.
However, we do believe that these issues are largely Time-related and we are confident to improve this business in the second half of fiscal 2020.
The DC power investment of 5g network is expected to start in the next few quarters, and the specific time is uncertain.
Finally, if the current spot rate continues, the recent drop in lead prices will benefit our second fiscal quarter and beyond.
Non-reconciliation
GAAP Financial Measures This press release contains financial information determined by methods other than those established in accordance with US accounting standardsS.
Recognized accounting principles ,("GAAP").
Enersys's management uses non-
In its analysis of the company's performance, GAAP measures "Adjusted net income" based on applicable circumstances ".
As EnerSys has used in the last few quarters and years, adjusting net income determined in accordance with GAAP, to reflect changes in financial results related to the company's restructuring plan and other highlighted expense and revenue items.
Management believes that the presentation of these non-financial measures is reflected
GAAP adjustments provide important supplemental information in assessing the results of the company's operations, unlike the results of projects that include items that do not represent the results of ongoing operations and overall business performance;
In particular, the company due to restructuring activities, impairment of goodwill and indefinite-
Living intangible assets and other assets, acquisition activities and fees and credit that have no direct relationship with the performance of the operating unit, such as major legal proceedings, implementation of the ERP system, amortization of intangible assets related to Alpha, and changes in tax assessment allowances, including changes related to the passage of tax cuts and employment bills.
Because these expenses are not due to the ongoing business, nor are they due to potential or previous acquisitions, they are not so helpful to the performance of our underlying business, especially given the unpredictable nature of them, and it is difficult to predict.
Non-Income tax effect
The GAAP adjustment is calculated using the applicable statutory tax rate in the charging jurisdiction (benefits)
Occurs when any valuation allowance is considered.
These items are not.
Taxes and fees (benefit)
Calculated at 0%. This non-
GAAP disclosure has limitations as an analytical tool and should not be considered as an alternative to net profit determined under GAAP and should not be considered separately, it should also not be considered as an alternative to the analysis of the company's results reported by GAAP, nor necessarily to non-
GAAP performance measures that other companies may propose.
Management believes that,
GAAP Supplementary information will help to understand the results of the company's ongoing operations.
Such supplementary statements should not be interpreted as the company's future results will not be affected by similar adjustments to net profits determined in accordance with GAAP.
Here is the right
GAAP adjusted the financial indicators to a preliminary amount. Non-
The adjusted net income of GAAP does not include restructuring and other outstanding expenses and credits.
The following table provides
GAAP measures: The following table provides non-
GAAP adjustments shown in the above table Reconciliation: The following table provides non-
GAAP adjustments shown in the reconciliation above: EnerSys also announced on May 1, 2019 that it will host a conference call to discuss the company's financial performance for the fiscal year 2019 and outline the business.
The conference call will end with a Q & A session.
The phone to be held on Thursday, May 30, 2019, 9:00 play. m.
Eastern time will be hosted by David M.
Shaffer, president and chief executive, and Michael?
Chief financial officer of etidtlein.
The phone will also be broadcast online on enersys's website.
Conference call information on the company's website will download the compatible media player for free: conference call replay will start at 12: 30. m.
May 30-12, 2019 :30m.
June 29, 2019.
The replay information is: For more information, please contact Thomas O'Neill, vice president and treasurer of EnerSysO.
Read, PA 14145-box 196124145, USA. Tel: 610-236-
4040 or send the investment relationship @ enersys by email. com; Web site: www. enersys. com.
Editor's note: EnerSys, global leader in storage energy solutions for industrial applications, produces and distributes backup power and power batteries, battery chargers, power equipment, provide battery accessories and outdoor equipment housing solutions for customers around the world.
Electric forklifts and other commercial electric vehicles use power batteries and chargers.
Backup power batteries are used in the telecom and utilities industries, uninterrupted power supplies, and many applications that require storage energy solutions, including medical, aerospace and defense systems.
Outdoor equipment housing products are used for telecom, cable, utilities, transportation industry as well as government and defense customers.
The company also provides after-sales and customer support services to customers in more than 100 countries through sales and manufacturing locations around the world.
With the recent Alpha acquisition, EnerSys offers highly integrated power solutions and services to broadband, telecom, renewable energy and industrial customers.
More information about EnerSys can be found on www. enersys. com.
Warning about moving forward
This press release and the oral statement on the subject of this press release contain forward-looking
In the sense of the Private Securities Litigation Reform Act of 1995 or the Reform Act, forward-looking statements may include, but are not limited to, statements regarding revenue estimates for energy companies, quarterly payment of cash dividends, return of capital to shareholders, plans, objectives, expectations and intentions contained in this press release and statements of other non-historical facts, including statements determined by words such as "belief", "plan", "seeking", "expectation, "intention", "estimate", "expectation", "will" and similar expressions.
EnerSys expects or anticipates that all statements involving operational performance, events or developments will occur in the future, including reports related to sales growth, earnings per share or revenue growth, order receipt, backlog payment of future cash dividends, commodity prices, execution of stock repurchase plans, judicial or regulatory procedures, market share, and statements that show optimism or pessimism about future operating results, or benefit from cash dividends or stock repurchase plans, are all moving forward --
A statement in the sense of the reform law. The forward-
Forward-looking statements are based on management's current views and assumptions about future events and operational performance and are essentially influenced by significant business, economic and competitive uncertainties and unexpected circumstances and environmental changes, many of them are beyond the control of the company.
The statement in this press release is made on the date of this press release, even if EnerSys is subsequently posted on its website or on other websites.
EnerSys has no obligation to update or amend these statements to reflect events or circumstances that occurred after the date of publication of this press release.
Although EnerSys did not forward-
Unless EnerSys considers it to have a reasonable basis to do so, it cannot guarantee their accuracy.
Among other factors, the above factors may lead to significant differences in actual results with those described in the forward-looking
Look at the report.
For a list of other factors that may affect the performance of energy companies, including revenue estimates, please refer to the document "Item 2" submitted by energy companies to the Securities and Exchange Commission ".
Management Discussion and Analysis of financial position and results of operations, including "forward-
Forward-looking statements are listed in the enersys quarterly report on table 10
Q. Period as of December 30, 2018.
No forwarding should be overrelied --
Look at the report.