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Enersys (ENS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, March 31, 2016

Enersys

CIK: 1289308 Ticker: ENS

Exhibit 99.1 PRESS RELEASE, DATED MAY 31, 2016, OF ENERSYS REGARDING FINANCIAL
RESULTS FOR THE FOURTH QUARTER AND FULL YEAR FISCAL 2016

EnerSys Reports Fourth Quarter and Full Year Fiscal 2016 Results 
Reading, PA, USA, May 31, 2016 -- EnerSys (NYSE: ENS) the global leader in stored energy solutions for industrial applications, announced today results for its fourth quarter and full year of fiscal 2016, which ended on March 31, 2016.

Net earnings attributable to EnerSys stockholders (“Net earnings”) for the fourth quarter of fiscal 2016 were $9.3 million, or $0.21 per diluted share, including an unfavorable highlighted net of tax impact of $36.2 million or $0.82 per share from non-cash charges relating to impairment of goodwill and other assets, as well as, cash and non-cash charges or credits from our restructuring plans and other highlighted items described in further detail below.

The Net earnings of $0.21 per diluted share compares to Net earnings of $0.57 per diluted share for the fourth quarter of fiscal 2015, which included an unfavorable highlighted net of tax impact of $27.2 million or $0.58 per share from non-cash charges relating to impairment of goodwill and other assets, as well as, cash and non-cash charges or credits from our restructuring plans and other highlighted items.

Excluding these highlighted items, adjusted Net earnings per diluted share for the fourth quarter of fiscal 2016, on a non-GAAP basis, were $1.03, which would exceed the guidance of $0.98 to $1.02 per diluted share given by the Company on
January 28, 2016. These earnings compare to the prior year fourth quarter adjusted Net earnings of $1.15 per diluted share. 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 which include tables reconciling GAAP and non-GAAP adjusted financial measures for the quarters and fiscal years ended March 31, 2016 and 2015.

Net sales for the fourth quarter of fiscal 2016 were $611.4 million, a decrease of 3% from the prior year fourth quarter net sales of $629.9 million and a 7% sequential quarterly increase from the third quarter of fiscal 2016 net sales of $573.6 million. The 3% decrease compared to prior year quarter was largely the result of a 2% decrease each in organic volume and foreign currency translation impact, partially offset by an increase of 1% from acquisitions.

The Company’s operating results for its business segments for the fourth quarters of fiscal 2016 and 2015 are as follows:
 
Quarter ended
 
($ millions)
 
March 31, 2016
 
March 31, 2015
Net sales by segment
 
 
 
Americas
$
330.2

 
$
344.0

EMEA
204.5

 
231.2

Asia
76.7

 
54.7

 
 
 
 
Total net sales
$
611.4

 
$
629.9

 
 
 
 
Operating earnings
 
 
 
Americas
$
49.8

 
$
42.6

EMEA
21.4

 
30.0

Asia
(0.7
)
 
0.6

Restructuring and other exit charges - Americas
(0.6
)
 

Restructuring and other exit charges - EMEA
(4.8
)
 
(3.4
)
Restructuring charges - Asia
(0.5
)
 
(2.0
)
Impairment of goodwill and indefinite-lived intangibles - Americas
(33.0
)
 
(23.1
)
Goodwill and fixed assets impairment charge - EMEA
(3.3
)
 
(0.8
)
ERP system implementation - Americas
(1.3
)
 
(0.6
)
Charges relating to sale of facility - Asia
(0.9
)
 

Acquisition activity expense - Americas
(0.1
)
 

Acquisition activity expense - Asia
(0.1
)
 
(0.3
)
 
 
 
 
Total operating earnings
$
25.9

 
$
43.0

EMEA - Europe, Middle East and Africa



The following information was filed by Enersys (ENS) on Tuesday, May 31, 2016 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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Document And Entity Information
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accrued Expenses
Accrued Expenses (detail)
Accrued Expenses (tables)
Acquisitions
Acquisitions - Additional Information (detail)
Business Segments
Business Segments (tables)
Business Segments - Additional Information (detail)
Business Segments - Schedule Of Summarized Financial Information By Reportable Segments Segments (detail)
Change In Number Of Shares Of Common Stock Outstanding (detail)
Commitments, Contingencies And Litigation
Commitments, Contingencies And Litigation - Additional Information (detail)
Components Of Accumulated Other Comprehensive Income (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Components Of Net Carrying Amount Of Convertible Notes (detail)
Debt - Long Term Debt (detail)
Debt - Long Term Debt (phantom) (detail)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Additional Information (detail)
Derivative Financial Instruments - Effect Of Derivative Instruments (detail)
Derivative Financial Instruments - Effect Of Derivative Instruments On Consolidated Condensed Statements Of Income (detail)
Derivative Financial Instruments - Fair Value Of Derivative Instruments (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Earnings Per Share - Weighted Average Common Shares Basic And Common Shares Diluted (detail)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (tables)
Fair Value Of Financial Instruments - Additional Information (detail)
Fair Value Of Financial Instruments - Carrying Amounts And Estimated Fair Values Of Company Financial Instruments (detail)
Fair Value Of Financial Instruments - Carrying Amounts And Estimated Fair Values Of Company Financial Instruments (phantom) (detail)
Fair Value Of Financial Instruments - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Schedule Of Changes In Carrying Amount Of Goodwill By Business Segment (detail)
Goodwill And Other Intangible Assets - Schedule Of Companys Other Intangible Assets (detail)
Goodwill And Other Intangible Assets - Schedule Of Goodwill And Goodwill Impairment Losses (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Reconciliation Of Income Taxes At Statutory Rate (detail)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (detail)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Schedule Of Earning Before Income Taxes (detail)
Income Taxes - Schedule Of Income Tax Expense (detail)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Summary Of Inventories (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Leases - Schedule Of Capital And Operating Leases (detail)
Leases - Schedule Of Capital And Operating Leases (phantom) (detail)
Other (income) Expense, Net
Other (income) Expense, Net (detail)
Other (income) Expense, Net (tables)
Other Liabilities
Other Liabilities (detail)
Other Liabilities (tables)
Prepaid And Other Current Assets
Prepaid And Other Current Assets (detail)
Prepaid And Other Current Assets (tables)
Property, Plant, And Equipment
Property, Plant, And Equipment (tables)
Property, Plant, And Equipment - Additional Information (detail)
Property, Plant, And Equipment - Summary Of Ppe (detail)
Quarterly Financial Data (detail)
Quarterly Financial Data (phantom) (detail)
Quarterly Financial Data (tables)
Quarterly Financial Data (unaudited)
Redeemable Noncontrolling Interests (detail)
Restructuring Plans (tables)
Restructuring Plans - Acquisition And Non-acquisition Related Restructuring Reserve (details)
Restructuring Plans - Additional Information (detail)
Restructuring Plans And Other Exit Charges
Retirement Plans
Retirement Plans (tables)
Retirement Plans - Additional Information (detail)
Retirement Plans - Amounts Recognized In Consolidated Balance Sheets (detail)
Retirement Plans - Change In Projected Benefit Obligations And Change In Plan Assets (detail)
Retirement Plans - Net Periodic Pension Costs (detail)
Retirement Plans - Pension Components Before Tax And Related Changes Net Of Tax Recognized In Aoci (detail)
Retirement Plans - Significant Assumptions Used To Determine Net Periodic Benefit Cost (detail)
Retirement Plans - Significant Assumptions Used To Determine Projected Benefit Obligations (detail)
Retirement Plans - Summary Changes In Plan Assets And Benefit Obligations (detail)
Retirement Plans - Summary Of Accumulated Benefit Obligation Related To All Defined Pension Plans (detail)
Retirement Plans - Summary Of Estimated Future Benefit Payments (detail)
Retirement Plans - Summary Of Pension Plan Investments Measured At Fair Value (detail)
Retirement Plans - Summary Of Recognized Components Of Net Periodic Pension Cost Included In Accumulated Other Comprehensive Income (detail)
Stock Based Compensation Stock-based Compensation - Summary Of Assumptions Used For Market Share Units (details)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Summary Of Changes In Restricted Stock Units And Market Share Units (detail)
Stock-based Compensation - Summary Of Information Regarding Stock Options Outstanding And Exercisable (detail)
Stock-based Compensation - Summary Of Stock Option Activity (detail)
Stockholders Equity And Noncontrolling Interests Reclassification From Accumulated Other Comprehensive Income (details)
Stockholders' Equity And Noncontrolling Interests
Stockholders' Equity And Noncontrolling Interests (tables)
Stockholders' Equity And Noncontrolling Interests - Additional Information (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Warranty
Warranty (detail)
Warranty (tables)
Ticker: ENS
CIK: 1289308
Form Type: 10-K Annual Report
Accession Number: 0001289308-16-000060
Submitted to the SEC: Tue May 31 2016 4:45:19 PM EST
Accepted by the SEC: Tue May 31 2016
Period: Thursday, March 31, 2016
Industry: Wholesale Electrical Apparatus And Equipment Wiring Supplies

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