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EnerSys Reports Operating Results (10-Q)

Feb 08, 2012 | About:
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EnerSys (ENS) filed Quarterly Report for the period ended 2012-01-01.

Enersys Inc. has a market cap of $1.49 billion; its shares were traded at around $31.14 with a P/E ratio of 11.4 and P/S ratio of 0.7. Enersys Inc. had an annual average earning growth of 16.7% over the past 5 years.


This is the annual revenues and earnings per share of ENS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ENS.


Highlight of Business Operations:

Net sales increased $65.6 million or 12.9% in the third quarter of fiscal 2012 from the comparable period in fiscal 2011. This increase for the quarter was the result of a 4% increase in organic volume, a 3% increase due to pricing and a 6% increase from acquisitions. Net sales increased $274.2 million or 19.4% in the nine months of fiscal 2012 from the comparable period in fiscal 2011. This increase for the nine months of fiscal 2012 was the result of a 9% increase in organic volume, a 3% increase due to pricing, a 3% increase from acquisitions and a 4% increase from foreign currency translation impact.

Our Europe segment’s net sales increased $11.2 million or 4.7% in the third quarter of fiscal 2012, as compared to the third quarter of fiscal 2011. Acquisitions and pricing contributed approximately 8% and 2%, respectively, offset by declining organic volume of approximately 5%. Revenue increased $113.6 million or 18.0% in the nine months of fiscal 2012, as compared to the nine months of fiscal 2011. Currency translation impact and acquisitions contributed approximately 7% and 5%, respectively, while increases in organic volume and pricing contributed approximately 3% each.

Our Americas segment’s revenue increased $56.6 million or 25.2% in the third quarter of fiscal 2012, as compared to the third quarter of fiscal 2011, primarily due to higher organic volume, which contributed approximately 17% of the increased revenue. Pricing and acquisitions contributed approximately 4% and 5%, respectively, to the improvement offset by currency translation impact of approximately 1%. Revenue increased $141.3 million or 21.7% in the nine months of fiscal 2012, as compared to the nine months of fiscal 2011, primarily due to higher organic volume which contributed approximately a 16% increase while pricing and acquisitions contributed approximately 3% each.

Our Asia segment’s revenue decreased $2.2 million or 4.4% in the third quarter of fiscal 2012, as compared to the third quarter of fiscal 2011, primarily due to organic volume which declined by approximately 9%. Pricing and currency translation impact offset this decline by approximately 1% and 4%, respectively. Revenue increased $19.3 million or 14.6% in the nine months of fiscal 2012, as compared to the nine months of fiscal 2011, primarily due to organic volume growth of 6%, pricing of 1% and foreign currency changes of 8%.

During the nine months of fiscal 2012, operating activities provided cash of $120.0 million compared to $44.9 million in the comparable period of fiscal 2011. In the nine months of fiscal 2012, net earnings of $98.6 million and depreciation and amortization of $37.0 million were offset by cash used for the increase in primary working capital of $24.5 million, net of currency translation changes. In the nine months of fiscal 2011, operating activities provided cash of $44.9 million and was mainly driven by net earnings of $83.3 million and depreciation and amortization of $33.2 million, substantially offset by cash used for the increase in primary working capital of $70.9 million, net of currency translation changes.

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