Enersys reveals first-quarter 2011 results

Enersys, a provider of stored energy solutions, has revealed that net earnings for the first quarter of fiscal year 2011 were $23m (£15m), or $0.47 per diluted share, which compares with net earnings per share of $0.17 for the first quarter of fiscal year 2010.

Net sales were $435m − an increase of 28 per cent from the prior year’s first-quarter sales of $340.3m and a three per cent sequential quarterly decrease from $450.5m. 

Adjusted net earnings on a non-GAAP basis were $0.48 per diluted share, compared with the prior-year quarter’s net earnings of $0.23 per diluted share.