Arbitration Updates, Conference Participations, Stockholder Meeting Updates, and Earnings Results - Analyst Notes on EnerSys, Ballard, GrafTech, Belden and Arotech

NEW YORK, May 21, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding EnerSys Incorporated (NYSE: ENS), Ballard Power Systems, Inc. (NASDAQ: BLDP), GrafTech International Ltd. (NYSE: GTI), Belden Inc. (NYSE: BDC) and Arotech Corporation (NASDAQ: ARTX). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2718-100free.

EnerSys Incorporated Analyst Notes

On May 14, 2014, EnerSys Incorporated (EnerSys) announced that it has received the arbitration ruling in the EnerSys Delaware Inc. v. Altergy Systems arbitration matter. The ruling follows the action initiated by EnerSys' subsidiary EnerSys Delaware Inc. (EDI) in November 2012, seeking arbitration of claims involving a Supply and Distribution Agreement (SDA) with Altergy Systems (Altergy), as required by the SDA. EnerSys informed that on May 13, 2014, the arbitration panel issued an award in favor of Altergy after discovery, a hearing and post-hearing submissions by both the parties, consequent to which Altergy should recover $58.2 million in net money damages from EDI. "We are shocked and extremely disappointed with the decision of the arbitration panel. We firmly believe the panel's ruling is not supported by the facts of this case or the Supply and Distribution Agreement with Altergy," said John D. Craig, Chairman, President and CEO of EnerSys. The full analyst notes on EnerSys are available to download free of charge at:

http://www.analystsreview.com/2718-ENS-21May2014.pdf

Ballard Power Systems, Inc. Analyst Notes

On May 16, 2014, Ballard Power Systems Inc. (Ballard) announced that its CFO, Tony Guglielmin, is scheduled to present and participate in upcoming panel sessions at three investor conferences in May 2014. On May 22, 2014, Guglielmin will present at the Houlihan Lokey 9th Annual Global Industrials Conference at 3:00 p.m. ET at the New York Marriott Marquis in New York. On May 28, 2014, he will participate in the FBR Energy Technology Summit at 12:30 p.m. ET at the Grand Hyatt in New York, while he will also attend the Cowen and Company 42nd Annual Technology, Media & Telecom Conference at 1:00 p.m. ET at the New York Palace Hotel in New York on May 29, 2014. The full analyst notes on Ballard are available to download free of charge at:

http://www.analystsreview.com/2718-BLDP-21May2014.pdf

GrafTech International Ltd. Analyst Notes

On May 15, 2014, GrafTech International Ltd. (GrafTech) announced that at the Company's 2014 Annual Meeting of Stockholders, four GrafTech nominees and three nominees put forth by the Daniel and Nathan Milikowsky Group were elected by the stockholders, based on the preliminary vote count provided by the Company's proxy solicitor. The Company informed that it expects to announce the final results of the election after the official tabulation of voting from the Inspector of Elections, IVS Associates, Inc. The preliminary results of the Annual Meeting of Stockholders suggested that stockholders have voted in favor of the compensation of the Company's named executive officers, the performance goals of the Executive Incentive Compensation Plan, ratification of PricewaterhouseCoopers LLP as GrafTech's independent registered public accounting firm, as well as the repeal of certain provisions of the Company's by-laws that were not in effect as of September 30, 2012. The full analyst notes on GrafTech are available to download free of charge at:

http://www.analystsreview.com/2718-GTI-21May2014.pdf

Belden Inc. Analyst Notes

On May 1, 2014, Belden Inc. (Belden) reported financial results for Q1 FY 2014 (period ended March 30, 2014). In Q1 FY 2014, the Company's revenues were down 3.9% YoY to $487.7 million. Q1 FY 2014 net income was $24.6 million, or $0.56 per diluted share, compared to $22.2 million, or $0.49 per diluted share, in Q1 2013. For FY 2014, the Company expects adjusted revenues to be between $2.30 billion and $2.35 billion with adjusted income from continuing operations to be in the range of $4.05 to $4.35 per diluted share. John Stroup, President and CEO, said, "Despite a reduction in revenue, due to difficult prior year comparisons and unforeseen adjustments in channel inventory, I'm pleased with gross margin expansion of 160 basis points. I'm especially proud of the results of our Broadcast platform that benefitted from leverage on strong growth." The full analyst notes on Belden are available to download free of charge at:

http://www.analystsreview.com/2718-BDC-21May2014.pdf

Arotech Corporation Analyst Notes

On May 13, 2014, Arotech Corporation (Arotech) reported Q1 2014 financial results. In Q1 2014, the Company's revenues increased 1.5% YoY to $22.4 million. Q1 2014 net income was $1.0 million, or $0.05 per diluted share, compared to $0.4 million, or $0.03 per diluted share, in Q1 2013. "We are especially pleased with the strong improvement in profitability, in particular our gross margins. We look forward to a jump in the coming quarter as UEC is fully consolidated into Arotech," said Robert S. Ehrlich, Chairman and CEO of Arotech. "We are now looking to capitalize on our newly expanded market opportunities in battery, electronics and power systems. UEC's sales have historically been concentrated in the United States, and we hope to bring some of our international experience to bear in realizing UEC's enormous potential." The full analyst notes on Arotech are available to download free of charge at:

http://www.analystsreview.com/2718-ARTX-21May2014.pdf

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