Exide Technologies Soars after Q3 Results (XIDE)
Exide Technologies (NASDAQ: XIDE) announced its financial results for the fiscal third quarter of the year. The company stock reacted positively to the news and spiked 14.74 percent. The stock is currently trading at $11.99. Exide announced 4.5 percent increase in its sales volume. The company reported $800.3 million in its quarterly sales, up from $746.5 million it had earned during the corresponding quarter of the last year. The company reported its operating income at $49.7 million, up from $36.6 million in operating income it had earned a year ago.
Exide said that its net income for the current year period stood at $31.2 million. The company had reported a net income of $9.8 for the corresponding time period of the last year. On per share basis, its net income stood at 38 cents per share, up from 12 cents per share. Although, its adjusted net income for the third quarter of the fiscal year 2011 stood at $27.4 million, up from $18.2 million. On per share basis, the figure stood at 33 cents per share, up from 23 cents per share figure for the last year.
Jim Bolch, president and chief executive officer of the company, said, “We are pleased with the continuing improvement in our overall performance with operating income in the most recent three month period increasing 36% compared to the prior year quarter in spite of increased commodity costs and unfavorable foreign currency translation.”
Exide stock opened at $12.00 and touched the high of $12.28, which is also its 52 weeks high. The stock’s lowest price in today’s session is $11.62. The company stock’s beta is 2.13. The company stock has traded in the range of $3.60 and $12.28 during the past 52 weeks. The company’s market cap is $922.67 million and its P/E ratio is 16.57.
Exide reported its total current assets at $1.042 billion for the year ending Mar 31, 2010. Its total assets were worth $1.956 billion for the same time period. Exide had valued its total liabilities at $1.623 billion. The company had reported its revenue at $2.685 billion and its gross profit for the year at $538.096 million. Exide’s net income for the year stood at ($11.814) million.
