EnerSys Reports Operating Results (10-Q)

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Nov 05, 2012
EnerSys (ENS, Financial) filed Quarterly Report for the period ended 2012-09-30.

Enersys, Inc. has a market cap of $1.59 billion; its shares were traded at around $35.74 with a P/E ratio of 10 and P/S ratio of 0.7. Enersys, Inc. had an annual average earning growth of 10.8% over the past 5 years.

Highlight of Business Operations:

Net sales increased $7.0 million or 1.3% in the second quarter of fiscal 2013 from the comparable period in fiscal 2012. This increase for the quarter was the result of a 2% increase in organic volume, a 4% increase from acquisitions, a 4% decrease due to foreign currency translation impact and a 1% decrease due to pricing. Net sales increased $31.7 million or 2.8% in the six months of fiscal 2013 from the comparable period in fiscal 2012. This increase for the six months of fiscal 2013 was the result of a 4% increase in both organic volume and acquisitions, partially offset by a 5% decrease from foreign currency translation impact.

Our Europe segments net sales decreased $29.9 million or 12.2% in the second quarter of fiscal 2013, as compared to the second quarter of fiscal 2012, primarily due to a decrease of approximately 8% related to currency translation impact, 6% decrease in organic volume and 1% decrease due to pricing. Acquisitions contributed an increase of approximately 3%. Revenue decreased $45.8 million or 9.2% in the six months of fiscal 2013, as compared to the six months of fiscal 2012, primarily due to a decrease of approximately 10% related to currency translation impact, organic volume and pricing each with a 1% decrease, while acquisitions contributed an increase of approximately 3%.

Our Americas segments net sales increased $24.4 million or 9.7% in the second quarter of fiscal 2013, as compared to the second quarter of fiscal 2012, primarily due to higher organic volume, which contributed approximately 6% of the increased revenue. Acquisitions contributed an increase of approximately 5% partially offset by currency translation impact of approximately 1%. Revenue increased $54.1 million or 10.6% in the six months of fiscal 2013, as compared to the six months of fiscal 2012, primarily due to higher organic volume which contributed approximately 7%. Acquisitions and pricing contributed an increase of approximately 4% and 1%, respectively, partially offset by currency translation impact of 1%.

Our Asia segments net sales increased $12.5 million or 25.2% in the second quarter of fiscal 2013, as compared to the second quarter of fiscal 2012, primarily due to higher organic volume and acquisitions, which contributed approximately 20% and 8%, respectively. Currency translation impact and pricing partially offset this increase by approximately 2% and 1%, respectively. Revenue increased $23.4 million or 22.0% in the six months of fiscal 2013, as compared to the six months of fiscal 2012, primarily due to organic volume growth and acquisitions, which contributed approximately 18% and 7%, partially offset by currency translation impact and pricing of approximately 2% and 1%, respectively.

Sales of our reserve power products in the second quarter of fiscal 2013 increased $18.0 million or 6.7% compared to the second quarter of fiscal 2012. Organic volume and acquisitions contributed approximately 6% each to the increased revenue, partially offset by lower currency translation impact and pricing of approximately 4% and 1%, respectively. Sales in the six months of fiscal 2013 increased $41.4 million or 7.8% compared to the six months of fiscal 2012. Organic volume and acquisitions contributed approximately 8% and 5%, respectively, to the increased revenue, partially offset by currency translation impact of approximately 5%.

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