EnerSys 4Q Profit Falls On Restructuring Charge

READING, Pa. (AP) — Shares of EnerSys Inc. tumbled on Thursday after the industrial battery maker reported a sharp decline preliminary earnings for its fiscal fourth quarter.

EnerSys shares slid $2.60, or 14.7 percent, to $15.15 in afternoon trading. The stock has traded in a 52-week range of $5.71 to $37.71.

On Wednesday after the market closed, the company reported preliminary earnings of $3.3 million, or 7 cents per share, compared with $19.5 million, or 39 cents per share, for the same period last year.

The latest quarter included a restructuring charge of $13.8 million, or 29 cents per share. Excluding nonrecurring items, EnerSys reported adjusted earnings of 36 cents per share.

Analysts polled by Thomson Reuters estimated a profit of 29 cents per share. Analysts typically exclude one-time items from their estimates.

Revenue for the quarter slid 32 percent to $393.2 million from $581.9 million. Analysts forecast revenue of $417.7 million.

The company said it plans to release final fourth-quarter and full-year results for fiscal 2009 on June 1.