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READING, Pa., April 26 /PRNewswire-FirstCall/
-- EnerSys (NYSE: ENS) one of the world's largest manufacturers,
marketers and distributors of industrial batteries, announced
today that for its 4th fiscal quarter of 2005, which ended on
March 31, 2005, it expects to report diluted earnings per share
of $0.20 to $0.22 per share, which is at the upper end of the
$0.18 to $0.22 diluted earnings per share guidance provided on
February 16, 2005. Net sales for the 4th fiscal quarter of 2005
are expected to be approximately $285 million, which represents
a 4% increase compared to the comparable period in the prior
year. We anticipate releasing final 4th quarter and full year
results for fiscal year 2005 on June 1, 2005.
John D. Craig, Chairman, President and CEO
of EnerSys, stated, "I am particularly pleased with our 4th quarter
earnings results when considering the impact of extraordinarily
high commodities costs on our profit margins." He further added, "Our
continuing efforts to reduce all operating costs and increase
selling prices to recover higher raw material and energy costs,
had a favorable impact on our 4th quarter earnings results."
EnerSys also reported that a definitive
agreement was signed with FIAMM, S.p.A. on April 21, 2005, to
acquire their motive power battery business, which operates primarily
in Europe and had net sales of approximately $90 million (approximately
euro 70 million) for its fiscal year ending December 31, 2004.
The cash purchase price for this acquisition is euro 25 million
(approximately $32.5 million US) and it is expected to close
during EnerSys' first fiscal quarter of 2006 (which ends on July
3, 2005), pending final regulatory approvals and the satisfaction
of other closing conditions. This acquisition will be financed
by a 6-year senior term loan and is expected to be accretive
to net earnings within 12 months. John D. Craig commented further
about this previously announced transaction, "We look forward
to adding the FIAMM motive power brand to our global business.
This strategic acquisition will further extend our global market
leadership position in the motive power business segment and
provides an additional platform to improve our cost effectiveness
and customer service capabilities in our European operations."
For further
information, contact:
Richard Zuidema
Executive Vice President
EnerSys
2366 Bernville Road
Reading, PA 19605
+1 800-538-3627
EDITOR'S NOTE: EnerSys, the world leader in stored energy solutions
for industrial applications, manufactures and distributes reserve
power and motive power batteries, chargers, power equipment, and
battery accessories to customers worldwide. Motive power batteries
are utilized in electric fork trucks and other commercial electric-powered
vehicles. Reserve power batteries are used in the telecommunications
and utility industries, uninterruptible power suppliers, and numerous
applications requiring standby power. The company also provides
aftermarket and customer support services to its customers from
over 100 countries through its sales and manufacturing locations
around the world.
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