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Enersys (ENS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, March 31, 2009

Enersys

CIK: 1289308 Ticker: ENS

Exhibit 99.1

EnerSys Reports Fourth Quarter and Fiscal Year 2009 Results

Reading, PA, USA, June 1, 2009 - EnerSys (NYSE: ENS) the world’s largest manufacturer, marketer and distributor of industrial batteries, today announced results for its 4th fiscal quarter and full fiscal year 2009, which ended on March 31, 2009. Net earnings for the 4th fiscal quarter of 2009 were $3.3 million or $0.07 per diluted share, including an unfavorable $0.29 per share impact from the $13.8 million ($19.2 million pre-tax) charge for our restructuring plans. This compares to diluted net earnings per share of $0.39 for the 4th fiscal quarter of 2008, which included unfavorable highlighted charges of $0.03 per share or $1.3 million ($1.9 million pre-tax). Net sales for the fourth quarter of 2009 were $393.2 million, a decrease of 32.4% from the prior year fourth quarter net sales of $581.9 million and a 14.7% sequential quarterly decrease from the third quarter of 2009’s net sales of $460.9 million. The 32.4% decline was attributed to a 19% decline in organic volume, 8% from weaker foreign currencies, primarily the euro, and 5% from reduced pricing related to lower commodity costs. The decline in organic volume was a direct result of reduced end-user demand.

Adjusted net earnings the 4th fiscal quarter of 2009, on a non-GAAP basis, were $0.36 per diluted share. This compares to the prior year fourth quarter of $0.42 per diluted share on an adjusted, non-GAAP basis. These earnings were achieved in spite of a significant decline in revenue which were offset by the positive effects of our cost reduction activities and further reductions in commodity costs, net of pricing. 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.

The Company’s operating results for its reporting segments for the fourth fiscal quarters of 2009 and 2008 are as follows (in millions):

 

     Reserve Power     Motive Power     Consolidated  

Three months ended March 31, 2009:

      

Net sales

   $ 201.6     $ 191.6     $ 393.2  
                        

Operating earnings before highlighted items

   $ 18.5     $ 12.3     $ 30.8  

Restructuring charges

     (3.8 )     (15.4 )     (19.2 )
                        

Total operating earnings

   $ 14.7     $ (3.1 )   $ 11.6  
                        

Three months ended March 31, 2008:

      

Net sales

   $ 252.6     $ 329.3     $ 581.9  
                        

Operating earnings before highlighted items

   $ 12.4     $ 26.6     $ 39.0  

Restructuring charges

     (0.1 )     (1.7 )     (1.8 )
                        

Total operating earnings

   $ 12.3     $ 24.9     $ 37.2  
                        


The following information was filed by Enersys (ENS) on Monday, June 1, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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