Exide Technologies Reports Operating Income Up 36% For Its Fiscal 2011 Third Quarter
Net sales for the first nine months of fiscal 2011 were $1.4 billion as compared to $1.3 billion for the same period of fiscal 2010 primarily due to higher unit volumes and price increases due to higher average lead prices, partially offset by unfavorable foreign currency translation.
Adjusted EBITDA for the combined Transportation segments was $59.1 million in the fiscal 2011 third quarter versus $61.2 million in the comparable fiscal 2010 period. Adjusted EBITDA for the first nine months of fiscal 2011 was $133.5 million versus $117.6 million for the comparable fiscal 2010 period.
Industrial Energy Segments
Fiscal 2011 third quarter total net sales for the Company's combined Industrial Energy segments were $277.4 million as compared to $259.2 million in the comparable fiscal 2010 period. Price increases resulting from lead escalator agreements positively impacted net sales by $7.8 million in the fiscal 2011 third quarter as compared to the same period of fiscal 2010. Improved volumes positively impacted net sales in both the Motive Power and Network Power channels in Industrial Energy Americas as well as the Motive Power channel in Industrial Energy Europe & ROW. Volumes in the Network Power channel for Industrial Energy Europe & ROW were essentially flat in the comparative quarter. The increase in net sales was partially offset by unfavorable foreign currency translation of ($10.6 million). Net sales for the first nine months of fiscal 2011 were $749.2 million as compared to $699.4 million for the same period of fiscal 2010. The increase is primarily due to improved volumes and price increases due to higher average lead prices, partially offset by unfavorable currency translation.Adjusted EBITDA for the Industrial Energy segments in the fiscal 2011 third quarter totaled $26.6 million versus $16.1 million in the fiscal 2010 third quarter. This increase is due to increased sales volumes for motive power and network power products, and lower operating expenses. Adjusted EBITDA for the first nine months of fiscal 2011 was $59.6 million versus $41.7 million for the comparable fiscal 2010 period.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV