EnerSys (ENS) has reported a 14 percent rise in profit for the quarter ended Oct. 02, 2016. The company has earned $45.60 million, or $1.04 a share in the quarter, compared with $40 million, or $0.87 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $50.40 million, or $1.15 a share compared with $44.70 million or $0.97 a share, a year ago.

Revenue during the quarter went up marginally by 1.21 percent to $576 million from $569.10 million in the previous year period. Gross margin for the quarter expanded 77 basis points over the previous year period to 28 percent. Total expenses were 89.08 percent of quarterly revenues, down from 89.53 percent for the same period last year. This has led to an improvement of 45 basis points in operating margin to 10.92 percent.

Operating income for the quarter was $62.90 million, compared with $59.60 million in the previous year period.

"I am pleased with the results of the second quarter," stated David M. Shaffer, chief executive officer of EnerSys. "Even though we experienced second quarter records in adjusted gross profit, gross margin, operating margin and earnings per share, I know there remains room to improve our business. As we embark on our Lean journey, increased profitability will be driven by eliminating waste, increasing productivity, driving organic growth through cycle time compression and reducing costs to offset the recent increases in commodity prices."

For the third-quarter 2017, On an adjusted basis, EnerSys projects diluted earnings per share to be in the range of $1.12 to $1.16.