29.06.06

29.6.2006: Meldung: Exide Technologies: Fiscal 2006 Results

Exide Technologies Provides Fiscal 2006 Results
Wednesday June 28, 9:02 pm ET

ALPHARETTA, Ga.----June 28, 2006--Exide Technologies, a global leader in stored electrical-energy solutions, announced today that it will file its Annual Report on Form 10-K for the fiscal year ended March 31, 2006 on June 29, 2006.

Net sales for the fourth fiscal quarter were $730.6 million compared to $712.8 million in the prior year quarter. Foreign currency negatively impacted year-over-year fourth quarter sales by approximately $32 million, which was more than offset by favorable pricing in all businesses as well as increased volume in both of our Transportation Divisions and in our Industrial Energy North American Division.

The net loss for the fourth quarter of fiscal 2006 was $76.3 million or $(3.05) a share compared with a net loss of $44.4 million or $(1.78) a share in the prior year period. The increase in the net loss in the fourth quarter is principally driven by the recording of $24 million for a settlement with the U.S. Attorney for the Southern District of Illinois relating to a historic fine and a $5 million increase in interest cost due to higher debt and rates.

In the Form 10-K, the Company reported net sales of $2.82 billion in fiscal 2006 compared with $2.69 billion in fiscal 2005. This increase was principally attributable to growth in Industrial Energy worldwide and Transportation North America, partially offset by $53 million of negative foreign currency impact. Additionally, net sales were favorably impacted by overall pricing actions throughout all segments.

Net loss as reported was $172.7 million or $(6.91) a share in fiscal 2006 compared with net loss of $466.9 million or $(18.68) a share in the period May 6, 2004 to March 31, 2005 (Successor Company). The fiscal 2005 results included a goodwill impairment charge of $389 million. Excluding this, the net loss for the current fiscal year increased by approximately $95 million, principally driven by a $54 million reduction on the gain from revaluation of the Company"s warrants" liability (from $63 million in fiscal 2005 to $9 million in fiscal 2006), $27 million of increased interest expense due to higher debt and rates and the recording of the aforementioned settlement with the U.S. Attorney.

The Company, as it has said in the past, uses adjusted EBITDA as a key measure of its operational financial performance and it is also a key element of the covenants in its bank agreements. This measure underlies the Company"s operational performance and excludes the nonrecurring impact of the Company"s current restructuring actions. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and restructuring charges. Our adjusted EBITDA definition also adjusts reported earnings for the effect of non-cash currency remeasurement gains or losses, the non-cash gain or loss from revaluation of the Company"s warrants liability, impairment charges and non-cash gains or losses on asset sales as well as a specific exclusion for the aforementioned settlement with the U.S. Attorney. See the reconciliations of net losses to adjusted EBITDA in the attachments to this release.

Adjusted EBITDA in the fourth quarter of 2006 was $19.3 million compared to $6.5 million in the fourth quarter of the fiscal year. Full year 2006 adjusted EBITDA was $104.5 million compared to $105.7 million in fiscal 2005.

The Company has also concluded, after further review of various tax and non-tax related entries, that it will not be restating prior period financials results, as was previously reported in a press release dated June 14, 2006.

As communicated on June 27, 2006, the Company will hold a conference call to discuss its results on Thursday, June 29, 2006.

About Exide Technologies:

Exide Technologies, with operations in 89 countries, is one of the world"s largest producers and recyclers of lead-acid batteries. The Company"s four global business groups - Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.

Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.

Further information about Exide, including its financial results, are available at www.exide.com.


Contact:

J.Addams & Partners, Inc.
Media Contacts:
Jeannine Addams or Kristin Wohlleben, 404/231-1132
jfaddams@jaddams.com or kwohlleben@jaddams.com

Source: Exide Technologies




Exide Technologies Announces Planned $75 Million Rights Offering and Sale of Additional Shares of Common Stock for $50 Million
Wednesday June 28, 8:14 pm ET

ALPHARETTA, Ga.-- June 28, 2006--Exide Technologies, a global leader in stored electrical energy solutions, today announced that it is planning to make a $75.0 million rights offering of common stock to its shareholders. The subscription price for the rights offering will be equal to 80% of the average closing price per share of the Company"s common stock for the 30 trading day period ending July 6, 2006, but it will not be higher than $4.50 per share nor lower than $3.00 per share.

The Company has also entered into a standby purchase agreement with Tontine Capital Partners, L.P., Legg Mason Investment Trust, Inc. and Arklow Capital, LLC pursuant to which the investors have agreed to backstop the rights offering by exercising any rights remaining unexercised at the close of the rights offering and Tontine and Legg Mason have agreed to purchase at the rights offering subscription price additional shares for $50.0 million.

The agreement is subject to several closing conditions, including shareholder approval which will be sought at the Company"s annual meeting scheduled to take place in August 2006. Because the Company must register the rights offering with the Securities and Exchange Commission, no record date has been set yet. Further information is contained in the Company"s Form 8-K to be filed with the Securities and Exchange Commission.

The Company will utilize the proceeds of the transactions to accelerate its restructuring plans and planned capital expenditures.

This announcement is neither an offer to purchase nor a solicitation of an offer to sell any securities. The shares to be sold to the investors will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

About Exide Technologies:

Exide Technologies, with operations in 89 countries, is one of the world"s largest producers and recyclers of lead-acid batteries. The Company"s four global business groups - Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications. Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.

Further information about Exide is available at www.exide.com.


Contact:

J.Addams & Partners, Inc.
Jeannine Addams, 404-231-1132
jfaddams@jaddams.com
or
Kristin Wohlleben, 404-231-1132
kwohlleben@jaddams.com

Source: Exide Technologies




Exide Technologies Withdraws Potential Sale of European Industrial Energy Group
Wednesday June 28, 8:15 pm ET

ALPHARETTA, Ga.-- June 28, 2006--Exide Technologies, a global leader in stored electrical-energy solutions, announced today that it is withdrawing the sale of its European Industrial Energy and Rest of World (ROW) operations announced earlier this year.

In the Form 8-K filed on April 20, 2006, Exide announced that it had begun examining a number of strategic alternatives - including the potential sale of the Company"s European Industrial Energy operations.

"During the first quarter of FY "07, we evaluated a number of alternatives to increase profitability and maximize shareholder value, said Gordon A. Ulsh, President and Chief Executive Officer of Exide Technologies. "As a result of this process, we have decided not to proceed with the sale of our European Industrial Energy and ROW business, and instead intend to maximize the value of that business as part of our ongoing FY"07 Business Plan."

About Exide Technologies:

Exide Technologies, with operations in 89 countries, is one of the world"s largest producers and recyclers of lead-acid batteries. The Company"s four global business groups - Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.

Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.

Further information about Exide, including its financial results, are available at www.exide.com.

Contact:

J.Addams & Partners, Inc. for Exide Technologies
Media Contacts:
Jeannine Addams or Kristin Wohlleben, 404-231-1132
jfaddams@jaddams.com
kwohlleben@jaddams.com

Source: Exide Technologies
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