This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Exide Technologies Reports Operating Income Up 36% For Its Fiscal 2011 Third Quarter

Selling and administrative expenses for the fiscal 2011 third quarter were $111.9 million versus the comparable prior year period of $110.0 million. Foreign currency translation favorably impacted these operating expenses by $2.2 million. After adjusting for foreign currency translation, the increase in expenses resulted from volume related costs on higher sales as well as the timing of both annual and long-term incentive plan charges and executive transition costs in fiscal year 2011.

Fiscal 2011 Nine Month Consolidated Results

Net sales for the first nine months of fiscal 2011 aggregated $2.1 billion as compared with $2.0 billion for the prior fiscal year period, an increase of approximately 7%. Net sales in the fiscal 2011 period were positively impacted by price increases estimated at $130.9 million due to approximately 11% higher average lead prices period over period and overall higher unit volumes, partially offset by unfavorable foreign currency translation of ($58.7 million).

The Company reported net income for the nine months ended December 31, 2010 of $40.1 million or $0.50 per diluted share as compared to a net loss of $52.2 million or ($0.69) per share in the nine months ended December 31, 2009. The improvement in year-to-date net income was driven by significantly lower restructuring and impairment charges, higher gross profit, lower operating expenses and a significantly lower effective tax rate resulting principally from valuation allowance changes. Adjusted net income for the nine months ended December 31, 2010 was $45.0 million or $0.56 per share. This compares to adjusted net income of $11.0 million or $0.15 per share for the prior year nine month period.

Adjusted EBITDA for the nine months ended December 31, 2010 aggregated $172.5 million versus $142.6 million in the comparable prior year period. Operating income for the first nine months of fiscal 2011 amounted to $86.4 million versus $2.5 million in the comparable fiscal 2010 period. Lower restructuring costs and higher gross profit were the major drivers for the improvement.

3 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs