Exide Announces Expectations for Third Quarter Fiscal Year 2006 - aftermarketNews

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Exide Announces Expectations for Third Quarter Fiscal Year 2006

Exide Technologies announced its expectations for the third quarter of fiscal year 2006 ending Dec. 31. Current indications are that the company will fall short of meeting the results from the same quarter a year ago primarily due to lower Transportation sales in Europe and the most recent spike in lead prices.

aftermarketNews Staff
By aftermarketNews Staff

ALPHARETTA, GA — Exide Technologies announced its expectations for the third quarter of fiscal year 2006 ending Dec. 31. Current indications are that the company will fall short of meeting the results from the same quarter a year ago primarily due to lower Transportation sales in Europe and the most recent spike in lead prices.

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The quarter-over-quarter comparison is also negatively impacted by insurance proceeds in the prior-year quarter related to property damage in one of the Exide’s German facilities as well as the unfavorable impact of foreign exchange in the current quarter of approximately $2 million. The company still expects to comply with its bank covenants as calculated through the third quarter of fiscal 2006.

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