EnerSys reported unaudited earnings results for the third quarter and nine months ended December 27, 2015. For the quarter, the company reported net sales of $573.6 million compared to $611.6 million a year ago. Net earnings attributable to the stockholders were $38.5 million, or $0.86 per diluted share, including an unfavorable highlighted net of tax impact of $0.06 per share from a charge of $2.4 million for restructuring plans and $0.6 million for ERP system implementation. The net earnings of $0.86 per diluted share compares to net earnings of $1.04 per diluted share for the third quarter of fiscal 2015, which included an unfavorable highlighted net of tax impact of $0.05 per share impact from charges of $1.9 million for restructuring and other exit costs, $0.4 million for ERP system implementation and $0.1 million for fees related to acquisition activities. Total operating earnings $55.5 million compared to $68.7 million a year ago.

For the nine months, the company's net earnings were $126.9 million, or $2.76 per diluted share, including an unfavorable net of tax impact of $0.14 per share from a charge of $5.3 million for restructuring plans, $2.9 million for legal proceedings charge. Net earnings were $154.7 million, or $3.19 per diluted share, including a favorable net of tax impact of $0.02 per share from a legal accrual reversal, net of professional fees of $9.9 million and gain of $2.0 million in connection with the disposition of equity interest in Altergy, pursuant to a legal settlement, partially offset by charges of $4.6 million for restructuring and other exit costs, $5.3 million for stock-based compensation of senior executives, $0.9 million for ERP system implementation and $0.4 million for fees related to acquisition activities. Adjusted net earnings, on a non-GAAP basis, were $2.90 per diluted share. This compares to the prior year nine months adjusted net earnings of $3.17 per diluted share. Net sales were $1,704.8 million, a decrease of 9% from the net sales of $1,875.6 million in the comparable period in fiscal 2015. The 9% decrease was largely the result of an 8% decrease due to foreign currency translation impact and a 3% decrease in organic volume, partially offset by a 1% increase each from acquisitions and pricing. Total operating earnings were $184.1 million compared to $220.4 million a year ago. Capital expenditures were nearly $46 million.

The company provided earnings guidance for the fourth quarter of 2016. The company's fourth quarter guidance for non-GAAP adjusted net earnings per diluted share is $0.98 to $1.02, which excludes an expected charge of $0.04 from ongoing restructuring programs, ERP system implementation and acquisition expenses. Tax rate will be between 23% and 25% on adjusted net earnings.

For the year 2016, tax rate will be 24% on adjusted net earnings. Capital expenditures should reach up to $70 million.