EnerSys (ENS) Tuesday reported fourth-quarter net earnings of $37.7 million or $0.77 per share, compared to $45.4 million or $0.94 per share in the comparable quarter last year. The results included an unfavorable net of tax impact of $0.03 per share from a charge of $1.3 million for restructuring plans.
Adjusted earnings for the quarter were $39.0 million or $0.80 per share, down from $47.3 million or $0.98 per share in the prior year. On average, four analysts polled by Thomson Reuters expected the company to earn $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, net sales for the latest fourth quarter fell 4 percent to $572.2 million from $592.8 million last year, while four analysts estimated revenues of $593.79 million for the quarter.
Looking forward to the first quarter, the company expects adjusted earnings between $0.78 per share and $0.82 per share. The Street currently estimates earnings of $0.87 per share.
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