Exide Technologies Announces Expected First-Quarter Losses
Exide Technologies (Princeton, NJ) announced that it expects a loss per diluted share in the range of $0.39 to $0.44 for its first fiscal quarter, ending on June 30, 2001. The company also reported that it expects earnings per diluted share in the range of $0.60 to $0.75 for the full fiscal year, ending on March 31, 2002. This compares, on a pro-forma basis, to a loss per diluted share of $0.44, excluding nonrecurring items for the first fiscal quarter of last year, and a loss per diluted share of $0.05, excluding nonrecurring items for the full year fiscal 2001.
Robert A. Lutz, chairman and CEO of the company, commented, “With our post-acquisition restructuring program well underway, we are now moving to the next level by implementing a world-class lean system throughout our company and identifying and securing new opportunities for growth around the world. While the current economic environment is challenging, I have confidence in our strategy and in our abilities to improve our operating and financial performance.”