##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended December 31, 2010
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission File Number 1-11263
 EXIDE TECHNOLOGIES
 (Exact Name of Registrant as Specified in Its Charter)
 Delaware
(State or other jurisdiction of 
incorporation or organization)
    
    23-0552730
(I.R.S. Employer
Identification Number)13000 Deerfield Parkway, 
Building 200
Milton, Georgia
(Address of principal executive offices)
    
    30004
(Zip Code)
 (678) 566-9000
(Registrants telephone number, including area code)
 þ o
 o o
  Large accelerated filer o
    
    Accelerated filer þ
    

Non-accelerated filer o(Do not check if smaller reporting company)
    
    Smaller reporting company o
 o þ




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##### 



EXIDE TECHNOLOGIES AND SUBSIDIARIES
TABLE OF CONTENTS
 PagePART I. FINANCIAL INFORMATIONItem 1 FINANCIAL STATEMENTS
    
    3CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE
THREE AND NINE MONTH PERIODS ENDED DECEMBER 31, 2010
AND 2009
    
    3CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER
31, 2010 AND MARCH 31, 2010
    
    4CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE
NINE MONTH PERIODS ENDED DECEMBER 31, 2010 AND 2009
    
    5NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
    
    6Item 2 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
    
    20Item 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
    
    30Item 4 CONTROLS AND PROCEDURES
    
    30PART II. OTHER INFORMATIONItem 1. LEGAL PROCEEDINGS
    
    33Item 1A. RISK FACTORS
    
    33Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
    
    33Item 3. DEFAULTS UPON SENIOR SECURITIES
    
    33Item 4 [REMOVED AND RESERVED]
    
    33Item 5. OTHER INFORMATION
    
    33Item 6. EXHIBITS
    
    33SIGNATURES
    
    35EX-10.6EX-31.1EX-31.2EX-32
  2




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##### Table of Contents



PART I. FINANCIAL INFORMATION
 
 Item 1 . Financial Statements
 EXIDE TECHNOLOGIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per-share data)
 For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 2010
    
    
    December
31, 2009
    
    
    December
31, 2010
    
    
    December
31, 2009Net sales
    
    $
    800,296
    
    
    $
    746,472
    
    
    $
    2,112,970
    
    
    $
    1,971,141Cost of sales
    
    
    634,697
    
    
    
    588,274
    
    
    
    1,690,277
    
    
    
    1,576,353Gross profit
    
    
    165,599
    
    
    
    158,198
    
    
    
    422,693
    
    
    
    394,788Selling and administrative expenses
    
    
    111,866
    
    
    
    110,011
    
    
    
    318,734
    
    
    
    328,429Restructuring and impairments, net
    
    
    4,081
    
    
    
    11,624
    
    
    
    17,524
    
    
    
    63,895Operating income
    
    
    49,652
    
    
    
    36,563
    
    
    
    86,435
    
    
    
    2,464Other income, net
    
    
    (3,480
    )
    
    
    (1,248
    )
    
    
    (2,111
    )
    
    
    (16,949
    )Interest expense, net
    
    
    15,298
    
    
    
    15,266
    
    
    
    45,441
    
    
    
    44,803Income (loss) before income taxes
    
    
    37,834
    
    
    
    22,545
    
    
    
    43,105
    
    
    
    (25,390
    )Income tax provision
    
    
    6,613
    
    
    
    12,524
    
    
    
    2,800
    
    
    
    26,526Net income (loss)
    
    
    31,221
    
    
    
    10,021
    
    
    
    40,305
    
    
    
    (51,916
    )Net income attributable to
noncontrolling interests
    
    
    11
    
    
    
    249
    
    
    
    181
    
    
    
    275Net income
(loss) attributable to Exide Technologies
    
    $
    31,210
    
    
    $
    9,772
    
    
    $
    40,124
    
    
    $
    (52,191
    )Earnings (loss) per shareBasic
    
    $
    0.41
    
    
    $
    0.13
    
    
    $
    0.52
    
    
    $
    (0.69
    )Diluted
    
    $
    0.38
    
    
    $
    0.12
    
    
    $
    0.50
    
    
    $
    (0.69
    )Weighted average sharesBasic
    
    
    76,675
    
    
    
    76,028
    
    
    
    76,508
    
    
    
    75,923Diluted
    
    
    81,479
    
    
    
    80,792
    
    
    
    80,893
    
    
    
    75,923
  3




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##### Table of Contents



EXIDE TECHNOLOGIES AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands, except per-share data)
 December 31, 2010
    
    
    March 31, 2010ASSETSCurrent assets:Cash and cash equivalents
    
    $
    92,339
    
    
    $
    89,558Accounts receivable, net
    
    
    504,369
    
    
    
    488,942Inventories, net
    
    
    457,107
    
    
    
    418,396Prepaid
expenses and other current assets
    
    
    28,703
    
    
    
    21,543Deferred income taxes
    
    
    28,019
    
    
    
    24,386Total current assets
    
    
    1,110,537
    
    
    
    1,042,825Property, plant and equipment, net
    
    
    591,172
    
    
    
    603,160Other assets:Goodwill and intangibles, net
    
    
    174,850
    
    
    
    180,428Deferred income taxes
    
    
    90,814
    
    
    
    85,613Other noncurrent assets
    
    
    38,477
    
    
    
    44,200304,141
    
    
    
    310,241Total assets
    
    $
    2,005,850
    
    
    $
    1,956,226LIABILITIES AND STOCKHOLDERS EQUITYCurrent
liabilities:Short-term borrowings
    
    $
    7,857
    
    
    $
    7,682Current
maturities of long-term debt
    
    
    4,839
    
    
    
    5,241Accounts payable
    
    
    364,314
    
    
    
    333,532Accrued expenses
    
    
    256,754
    
    
    
    267,374Total current liabilities
    
    
    633,764
    
    
    
    613,829Long-term debt
    
    
    635,857
    
    
    
    646,604Noncurrent
retirement obligations
    
    
    218,083
    
    
    
    221,248Deferred income taxes
    
    
    27,607
    
    
    
    23,485Other noncurrent liabilities
    
    
    105,099
    
    
    
    103,022Total liabilities
    
    
    1,620,410
    
    
    
    1,608,188STOCKHOLDERS EQUITYPreferred stock, $0.01 par value, 1,000 shares authorized, 0 shares
issued and outstanding
    
    
    
    
    
    
    Common stock, $0.01 par value, 200,000 shares authorized, 77,005 and
75,601 shares issued and outstanding
    
    
    770
    
    
    
    756Additional paid-in capital
    
    
    1,126,190
    
    
    
    1,119,959Accumulated deficit
    
    
    (758,971
    )
    
    
    (799,095
    )Accumulated other comprehensive income
    
    
    16,619
    
    
    
    10,714Total stockholders equity attributable to Exide Technologies
    
    
    384,608
    
    
    
    332,334Noncontrolling interests
    
    
    832
    
    
    
    15,704Total stockholders equity
    
    
    385,440
    
    
    
    348,038Total liabilities and
stockholders equity
    
    $
    2,005,850
    
    
    $
    1,956,226
  4




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EXIDE TECHNOLOGIES AND SUBSIDIARIES


CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
 For the Nine Months EndedDecember 31, 2010
    
    
    December 31, 2009Cash Flows From Operating Activities:Net income (loss)
    
    $
    40,305
    
    
    $
    (51,916
    )Adjustments to reconcile net income (loss) to net cash provided by
operating activitiesDepreciation and amortization
    
    
    62,998
    
    
    
    67,357Unrealized gain on warrants
    
    
    (168
    )
    
    
    (538
    )Asset sales / impairments, net
    
    
    (856
    )
    
    
    8,474Deferred income taxes
    
    
    (4,174
    )
    
    
    9,297Provision for doubtful accounts
    
    
    (170
    )
    
    
    4,165Non-cash stock compensation
    
    
    5,345
    
    
    
    8,371Amortization of deferred financing costs
    
    
    3,711
    
    
    
    3,760Currency remeasurement gain
    
    
    (4,036
    )
    
    
    (17,158
    )Changes in assets and liabilities Receivables
    
    
    (16,650
    )
    
    
    14,793Inventories
    
    
    (35,088
    )
    
    
    7,127Other current assets
    
    
    (7,047
    )
    
    
    2,620Payables
    
    
    28,838
    
    
    
    43,195Accrued expenses
    
    
    (6,714
    )
    
    
    (3,599
    )Other noncurrent liabilities
    
    
    (248
    )
    
    
    (3,969
    )Other, net
    
    
    (1,352
    )
    
    
    (10,501
    )Net cash provided by operating activities
    
    
    64,694
    
    
    
    81,478Cash Flows From Investing Activities:Capital expenditures
    
    
    (52,401
    )
    
    
    (58,556
    )Proceeds from sales of assets, net
    
    
    10,635
    
    
    
    805Net cash used in investing activities
    
    
    (41,766
    )
    
    
    (57,751
    )Cash Flows From Financing Activities:Increase in short-term borrowings, net
    
    
    1,106
    
    
    
    1,514Decrease in borrowings under Senior Secured Credit Facility
    
    
    (8,302
    )
    
    
    (2,266
    )(Decrease) increase in other debt
    
    
    (1,442
    )
    
    
    7,480Acquisition of noncontrolling interests / other
    
    
    (14,924
    )
    
    
    (1,651
    )Net cash (used in) provided by financing activities
    
    
    (23,562
    )
    
    
    5,077Effect of exchange rate changes on cash and cash equivalents
    
    
    3,415
    
    
    
    5,200Net increase in cash and cash equivalents
    
    
    2,781
    
    
    
    34,004Cash and cash equivalents, beginning of period
    
    
    89,558
    
    
    
    69,505Cash and cash equivalents, end of period
    
    $
    92,339
    
    
    $
    103,509Supplemental Disclosures of Cash Flow Information:Cash paid during the period -Interest
    
    $
    27,747
    
    
    $
    27,754Income taxes (net of refunds)
    
    $
    7,153
    
    
    $
    2,986
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EXIDE TECHNOLOGIES AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2010
(Unaudited)
 (1) BASIS OF PRESENTATION
   (2) STOCKHOLDERS EQUITY AND COMPREHENSIVE INCOME (LOSS)
  AccumulatedAdditional
    
    
    
    
    
    
    Other
    
    
    
    
    
    
    TotalCommon
    
    
    Paid-in
    
    
    Accumulated
    
    
    Comprehensive
    
    
    Noncontrolling
    
    
    StockholdersStock
    
    
    Capital
    
    
    Deficit
    
    
    Income
    
    
    Interests
    
    
    Equity(In thousands)Balance at April 1, 2010
    
    $
    756
    
    
    $
    1,119,959
    
    
    $
    (799,095
    )
    
    $
    10,714
    
    
    $
    15,704
    
    
    $
    348,038Net Income
    
    
    
    
    
    
    
    
    
    
    40,124
    
    
    
    
    
    
    
    181
    
    
    
    40,305Defined benefit plans,
net of tax
of $4
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    476
    
    
    
    
    
    
    
    476Translation adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,651
    
    
    
    (155
    )
    
    
    2,496Net recognition of unrealized
loss on derivatives,
net of tax
of $987
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,778
    
    
    
    
    
    
    
    2,778Increase in
ownership of subsidiary
    
    
    
    
    
    
    978
    
    
    
    
    
    
    
    
    
    
    
    (14,898
    )
    
    
    (13,920
    )Common stock issuance and other
    
    
    14
    
    
    
    (92
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (78
    )Stock compensation
    
    
    
    
    
    
    5,345
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    5,345Balance at December 31, 2010
    
    $
    770
    
    
    $
    1,126,190
    
    
    $
    (758,971
    )
    
    $
    16,619
    
    
    $
    832
    
    
    $
    385,440
 6




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For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 2010
    
    
    December 31, 2009
    
    
    December 31, 2010
    
    
    December 31, 2009(In thousands)Net income (loss)
    
    $
    31,221
    
    
    $
    10,021
    
    
    $
    40,305
    
    
    $
    (51,916
    )Defined benefit plans
    
    
    344
    
    
    
    7
    
    
    
    476
    
    
    
    2,181Cumulative translation adjustment
    
    
    (2,519
    )
    
    
    (1,835
    )
    
    
    2,496
    
    
    
    29,272Derivatives qualifying as hedges
    
    
    1,073
    
    
    
    441
    
    
    
    2,778
    
    
    
    861Total comprehensive income (loss)
    
    $
    30,119
    
    
    $
    8,634
    
    
    $
    46,055
    
    
    $
    (19,602
    )
 (3) ACCOUNTING FOR DERIVATIVES
      7




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Fair Value As ofBalance Sheet
    
    
    December 31, 
2010
    
    
    March 31,
 2010(In thousands)Asset Derivatives:Foreign exchange forward
    
    Current assets
    
    
    $
    3
    
    
    $
    Commodity swap
    
    Current assets
    
    
    
    572
    
    
    
    665Foreign exchange forward
    
    Noncurrent assets
    
    
    
    
    
    
    
    4,034Liability Derivatives:Foreign exchange forward
    
    Current liabilities
    
    
    $
    668
    
    
    $
    270Interest rate swap
    
    Current liabilities
    
    
    
    1,296
    
    
    
    5,350Foreign exchange forward
    
    Noncurrent liabilities
    
    
    
    2,816
    
    
    
    
 For the Three Months Ended
    
    
    For the Nine Months EndedStatement ofOperations
    
    
    December 31, 2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)
    
    
    (In thousands)Foreign Exchange
Forwards(Gain) loss
    
    Other income, net
    
    $
    (2,019
    )
    
    $
    (1,343
    )
    
    $
    (4,843
    )
    
    $
    4,170Commodity Swap
Loss (gain)
    
    Cost of sales
    
    
    4
    
    
    
    
    
    
    
    (74
    )
    
    
    Interest Rate Swap
Loss
    
    Interest expense, net
    
    
    1,467
    
    
    
    1,526
    
    
    
    4,365
    
    
    
    4,536
 (4) GOODWILL AND INTANGIBLE ASSETS
  Trademarks
    
    
    Trademarksand
    
    
    andGoodwill
    
    
    Tradenames
    
    
    Tradenames(not subject to
    
    
    (not subject to
    
    
    (subject to
    
    
    Customeramortization)
    
    
    amortization)
    
    
    amortization)
    
    
    Relationships
    
    
    Technology
    
    
    Total(In thousands)As of December 31, 2010Gross amount
    
    $
    4,551
    
    
    $
    61,453
    
    
    $
    13,964
    
    
    $
    115,489
    
    
    $
    30,974
    
    
    $
    226,431Accumulated amortization
    
    
    
    
    
    
    
    
    
    
    (7,352
    )
    
    
    (31,938
    )
    
    
    (12,291
    )
    
    
    (51,581
    )Net
    
    $
    4,551
    
    
    $
    61,453
    
    
    $
    6,612
    
    
    $
    83,551
    
    
    $
    18,683
    
    
    $
    174,850As of March 31, 2010Gross amount
    
    $
    4,538
    
    
    $
    61,110
    
    
    $
    13,886
    
    
    $
    115,175
    
    
    $
    30,742
    
    
    $
    225,451Accumulated amortization
    
    
    
    
    
    
    
    
    
    
    (6,489
    )
    
    
    (28,517
    )
    
    
    (10,017
    )
    
    
    (45,023
    )Net
    
    $
    4,538
    
    
    $
    61,110
    
    
    $
    7,397
    
    
    $
    86,658
    
    
    $
    20,725
    
    
    $
    180,428
  8




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##### Table of Contents



(5) INVENTORIES
  December 31, 2010
    
    
    March 31, 2010(In thousands)Raw materials
    
    $
    79,973
    
    
    $
    73,337Work-in-process
    
    
    126,557
    
    
    
    85,838Finished goods
    
    
    250,577
    
    
    
    259,221$
    457,107
    
    
    $
    418,396
 (6) OTHER NONCURRENT ASSETS
 December 31, 2010
    
    
    March 31, 2010(In thousands)Deposits (a)
    
    $
    17,633
    
    
    $
    18,981Deferred financing costs
    
    
    3,594
    
    
    
    7,316Investment in affiliates
    
    
    2,105
    
    
    
    2,156Capitalized software, net
    
    
    2,985
    
    
    
    4,402Loan to affiliate
    
    
    1,005
    
    
    
    1,005Retirement plans
    
    
    6,873
    
    
    
    1,958Financial instruments
    
    
    
    
    
    
    4,034Other
    
    
    4,282
    
    
    
    4,348$
    38,477
    
    
    $
    44,200
 
 (a)
    
    Deposits principally represent amounts held by beneficiaries as cash collateral for
the Companys contingent obligations with respect to certain environmental matters, workers
compensation insurance, and operating lease commitments. (7) DEBT
   December 31, 2010
    
    
    March 31, 2010(In thousands)Senior Secured Credit Facility maturing 2012
    
    $
    277,121
    
    
    $
    286,66110.5% Senior Secured Notes due 2013
    
    
    290,000
    
    
    
    290,000Floating Rate Convertible Senior Subordinated Notes due 2013
    
    
    60,000
    
    
    
    60,000Other, including capital lease obligations and other loans at interest rates
generally ranging up to 11.0% due in installments through 2015
    
    
    13,575
    
    
    
    15,184Total
    
    
    640,696
    
    
    
    651,845Less-current maturities
    
    
    4,839
    
    
    
    5,241Total Long-Term Debt
    
    $
    635,857
    
    
    $
    646,604
  9




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##### Table of Contents



(8) INTEREST EXPENSE, NET
  (9) OTHER INCOME, NET
  For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)Equity income
    
    $
    (43
    )
    
    $
    (555
    )
    
    $
    (233
    )
    
    $
    (516
    )Currency remeasurement gain, net (a)
    
    
    (4,262
    )
    
    
    (298
    )
    
    
    (4,036
    )
    
    
    (17,158
    )Gain on revaluation of warrants (b)
    
    
    
    
    
    
    (740
    )
    
    
    (168
    )
    
    
    (538
    )Reorganization items
    
    
    826
    
    
    
    388
    
    
    
    2,328
    
    
    
    1,262Other
    
    
    (1
    )
    
    
    (43
    )
    
    
    (2
    )
    
    
    1$
    (3,480
    )
    
    $
    (1,248
    )
    
    $
    (2,111
    )
    
    $
    (16,949
    )
 
 (a)
    
    The currency remeasurement gain relates primarily to intercompany loans to foreign
subsidiaries denominated in Euros and the Australian dollar.(b)
    
    The warrants entitle the holders to purchase an aggregate of up to approximately 6.7 million
shares of new common stock at an exercise price of $29.84 per share. The warrants are
exercisable through May 5, 2011. The warrants have been marked-to-market based upon quoted
market prices. Future results of operations may be subject to volatility from changes in the
market value of such warrants. 10




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##### Table of Contents



(10) EMPLOYEE BENEFITS
  Pension BenefitsFor the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)Components of net periodic benefit cost:Service cost
    
    $
    812
    
    
    $
    1,138
    
    
    $
    2,389
    
    
    $
    2,289Interest cost
    
    
    8,366
    
    
    
    10,676
    
    
    
    24,867
    
    
    
    26,148Expected return on plan assets
    
    
    (7,221
    )
    
    
    (6,597
    )
    
    
    (21,540
    )
    
    
    (16,900
    )Amortization of:Prior service cost
    
    
    3
    
    
    
    4
    
    
    
    7
    
    
    
    8Actuarial loss (gain)
    
    
    266
    
    
    
    235
    
    
    
    796
    
    
    
    801Net periodic benefit cost
    
    $
    2,226
    
    
    $
    5,456
    
    
    $
    6,519
    
    
    $
    12,346
 Other Post-Retirement BenefitsFor the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)Components of net periodic benefit cost:Service cost
    
    $
    46
    
    
    $
    47
    
    
    $
    137
    
    
    $
    91Interest cost
    
    
    255
    
    
    
    383
    
    
    
    761
    
    
    
    1,028Amortization of:Prior service cost
    
    
    (122
    )
    
    
    (96
    )
    
    
    (367
    )
    
    
    (288
    )Actuarial loss
    
    
    27
    
    
    
    16
    
    
    
    82
    
    
    
    53Net periodic benefit cost
    
    $
    206
    
    
    $
    350
    
    
    $
    613
    
    
    $
    884
  (11) COMMITMENTS AND CONTINGENCIES
 Claims Reconciliation
   11




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Private Party Lawsuits and other Legal Proceedings
    12




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Environmental Matters
       13




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Tampa, Florida
  Columbus, Georgia
  Guarantees
   Sales Returns and Allowances
   Balance at March 31, 2010
    
    $
    36,257Accrual for sales returns and allowances
    
    
    28,354Settlements made (in cash or credit) and currency translation
    
    
    (27,677
    )Balance at December 31, 2010
    
    $
    36,934
 14




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(12) INCOME TAXES
        (13) RESTRUCTURING AND IMPAIRMENTS, NET
   15




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##### Table of Contents



Asset Sale andSeverance
    
    
    
    
    
    
    Total
    
    
    ImpairmentsCosts
    
    
    Closure Costs
    
    
    Restructuring
    
    
    (gain) loss
    
    
    Total Expenses(In thousands)Balance at March 31, 2010
    
    $
    19,483
    
    
    $
    7,095
    
    
    $
    26,578Expenses
    
    
    12,238
    
    
    
    6,142
    
    
    
    18,380
    
    
    $
    (856
    )
    
    $
    17,524Payments and Currency Translation
    
    
    (21,028
    )
    
    
    (8,555
    )
    
    
    (29,583
    )Balance at December 31, 2010
    
    $
    10,693
    
    
    $
    4,682
    
    
    $
    15,375
   For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)Transportation Americas
    
    $
    3,477
    
    
    $
    1,224
    
    
    $
    5,298
    
    
    $
    5,656Transportation Europe & ROW
    
    
    (1,434
    )
    
    
    2,097
    
    
    
    902
    
    
    
    21,989Industrial Energy Americas
    
    
    779
    
    
    
    77
    
    
    
    978
    
    
    
    283Industrial Energy Europe & ROW
    
    
    1,162
    
    
    
    8,000
    
    
    
    9,650
    
    
    
    34,684Unallocated
    
    
    97
    
    
    
    226
    
    
    
    696
    
    
    
    1,283TOTAL
    
    $
    4,081
    
    
    $
    11,624
    
    
    $
    17,524
    
    
    $
    63,895
 (14) EARNINGS (LOSS) PER SHARE
   16




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For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands, except per share amounts)Net income (loss) attributable to
Exide Technologies
    
    $
    31,210
    
    
    $
    9,772
    
    
    $
    40,124
    
    
    $
    (52,191
    )Interest expense on Floating RateConvertible Senior Subordinated
Notes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    31,210
    
    
    $
    9,772
    
    
    $
    40,124
    
    
    $
    (52,191
    )Basic weighted average
shares outstanding
    
    
    76,675
    
    
    
    76,028
    
    
    
    76,508
    
    
    
    75,923Effect of dilutive securities:Floating Rate ConvertibleSenior Subordinated Notes
    
    
    3,697
    
    
    
    3,697
    
    
    
    3,697
    
    
    
    Employee stock options
    
    
    696
    
    
    
    714
    
    
    
    516
    
    
    
    Employee restricted stock
awards (non-vested)
    
    
    411
    
    
    
    353
    
    
    
    172
    
    
    
    4,804
    
    
    
    4,764
    
    
    
    4,385
    
    
    
    Diluted weighted average
shares outstanding
    
    
    81,479
    
    
    
    80,792
    
    
    
    80,893
    
    
    
    75,923Basic earnings (loss) per share:
    
    $
    0.41
    
    
    $
    0.13
    
    
    $
    0.52
    
    
    $
    (0.69
    )Diluted earnings (loss) per share:
    
    $
    0.38
    
    
    $
    0.12
    
    
    $
    0.50
    
    
    $
    (0.69
    )
  As ofDecember 31, 2009(In thousands)Shares associated with convertible debt (assumed conversion)
    
    
    3,697Employee stock options
    
    
    3,933Restricted stock awards
    
    
    855Warrants
    
    
    6,725Total shares excluded
    
    
    15,210
 (15) FAIR VALUE MEASUREMENTS
  17




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December 31, 2010
    
    
    March 31, 2010Estimated Fair
    
    
    
    
    
    
    Estimated FairCarrying Value
    
    
    Value
    
    
    Carrying Value
    
    
    Value(In thousands)(Liability) Asset:Senior Secured Credit Facility
    
    $
    (277,121
    )
    
    $
    (263,771
    )
    
    $
    (286,661
    )
    
    $
    (264,816
    )Senior Secured Notes due 2013
    
    
    (290,000
    )
    
    
    (294,350
    )
    
    
    (290,000
    )
    
    
    (294,350
    )Convertible Senior
Subordinated
Notes due 2013
    
    
    (60,000
    )
    
    
    (50,976
    )
    
    
    (60,000
    )
    
    
    (39,150
    )Interest Rate Swap (a)
    
    
    (1,296
    )
    
    
    (1,296
    )
    
    
    (5,350
    )
    
    
    (5,350
    )Foreign Currency Forwards (a)Asset
    
    
    3
    
    
    
    3
    
    
    
    4,034
    
    
    
    4,034Liability
    
    
    (3,484
    )
    
    
    (3,484
    )
    
    
    (270
    )
    
    
    (270
    )Commodity Swap (a)
    
    
    572
    
    
    
    572
    
    
    
    665
    
    
    
    665
 
 (a)
    
    These financial instruments are required to be measured at fair value, and are based on
inputs as described in the three-tier hierarchy that prioritizes inputs used in measuring fair
value as of the reported date:    Level 1 
    
    Observable inputs such as quoted prices in active markets for identical
assets and liabilities;   Level 2 
    
    Inputs other than quoted prices in active markets that are observable
either directly or indirectly; and   Level 3 
    
    Inputs from valuation techniques in which one or more key value drivers
are not observable, and must be based on the reporting entitys own assumptions.
  Quoted Price in
    
    
    SignificantActive Markets
    
    
    Other
    
    
    SignificantTotal
    
    
    for
    
    
    Observable
    
    
    UnobservableFair Value
    
    
    Identical Assets
    
    
    Inputs
    
    
    InputsMeasurement
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)(In thousands)December 31, 2010:Assets:Foreign
currency forward
    
    $
    3
    
    
    $
    
    
    
    $
    3
    
    
    $
    Commodity Swap
    
    
    572
    
    
    
    
    
    
    
    572
    
    
    
    Liabilities:Interest rate swap
    
    
    1,296
    
    
    
    
    
    
    
    1,296
    
    
    
    Foreign exchange
forward
    
    
    3,484
    
    
    
    
    
    
    
    3,484
    
    
    
    March 31, 2010:Assets:Foreign exchange
forward
    
    $
    4,034
    
    
    $
    
    
    
    $
    4,034
    
    
    $
    Commodity Swap
    
    
    665
    
    
    
    
    
    
    
    665
    
    
    
    Liabilities:Interest rate swap
    
    
    5,350
    
    
    
    
    
    
    
    5,350
    
    
    
    Foreign exchange
forward
    
    
    270
    
    
    
    
    
    
    
    270
    
    
    
    
  18




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(16) SEGMENT INFORMATION
     For the Three Months Ended
    
    
    For the Nine Months EndedDecember 31, 2010
    
    
    December 31, 
2009
    
    
    December 31, 
2010
    
    
    December 31, 
2009(In thousands)Net salesTransportation Americas
    
    $
    240,186
    
    
    $
    238,784
    
    
    $
    694,278
    
    
    $
    694,349Transportation Europe & ROW
    
    
    282,715
    
    
    
    248,556
    
    
    
    669,507
    
    
    
    577,449Industrial Energy Americas
    
    
    78,420
    
    
    
    56,758
    
    
    
    216,799
    
    
    
    173,252Industrial Energy Europe & ROW
    
    
    198,975
    
    
    
    202,374
    
    
    
    532,386
    
    
    
    526,091$
    800,296
    
    
    $
    746,472
    
    
    $
    2,112,970
    
    
    $
    1,971,141Income (loss) before
income taxesTransportation Americas
    
    $
    20,249
    
    
    $
    26,700
    
    
    $
    47,624
    
    
    $
    54,189Transportation Europe & ROW
    
    
    25,926
    
    
    
    19,912
    
    
    
    45,603
    
    
    
    687Industrial Energy Americas
    
    
    7,617
    
    
    
    4,883
    
    
    
    18,543
    
    
    
    10,610Industrial Energy Europe & ROW
    
    
    8,967
    
    
    
    (5,054
    )
    
    
    7,503
    
    
    
    (29,731
    )Unallocated expenses (a)
    
    
    (24,925
    )
    
    
    (23,896
    )
    
    
    (76,168
    )
    
    
    (61,145
    )$
    37,834
    
    
    $
    22,545
    
    
    $
    43,105
    
    
    $
    (25,390
    )
 
 (a)
    
    Includes unallocated corporate expenses, interest expense,
currency remeasurement gain/loss, and gain/loss on revaluation of
warrants. (17) SUBSEQUENT EVENT
  19




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Item 2 Managements Discussion and Analysis of Financial Condition and Results of Operations
   Executive Overview
    Factors Which Affect the Companys Financial Performance
 Lead and other Raw Materials.
 Energy Costs.
 Competition
 Exchange Rates
 20




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##### Table of Contents



Markets
 Seasonality and Weather.
  Interest Rates.
 Third quarter of Fiscal 2011 Highlights and Outlook
       21




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##### Table of Contents



Critical Accounting Policies and Estimates
   Results of Operations
 Three months ended December 31, 2010 compared with three months ended December 31, 2009
 Net Sales
  For
the Three  Months Ended
    
    
    FAVORABLE / (UNFAVORABLE)December 31,
    
    
    December 31,
    
    
    
    
    
    Currency
    
    
    Non-Currency2010
    
    
    2009
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    240,186
    
    
    $
    238,784
    
    
    $
    1,402
    
    
    $
    1,813
    
    
    $
    (411
    )Transportation Europe & ROW
    
    
    282,715
    
    
    
    248,556
    
    
    
    34,159
    
    
    
    (16,963
    )
    
    
    51,122Industrial Energy Americas
    
    
    78,420
    
    
    
    56,758
    
    
    
    21,662
    
    
    
    253
    
    
    
    21,409Industrial Energy Europe & ROW
    
    
    198,975
    
    
    
    202,374
    
    
    
    (3,399
    )
    
    
    (10,875
    )
    
    
    7,476TOTAL
    
    $
    800,296
    
    
    $
    746,472
    
    
    $
    53,824
    
    
    $
    (25,772
    )
    
    $
    79,596
     22




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##### Table of Contents



Gross Profit
  For the Three Months EndedDecember 31, 2010
    
    
    December 31, 2009
    
    
    FAVORABLE / (UNFAVORABLE)Percent of
    
    
    
    
    
    
    Percent of
    
    
    
    
    
    
    Currency
    
    
    Non-CurrencyTOTAL
    
    
    Net Sales
    
    
    TOTAL
    
    
    Net Sales
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    53,921
    
    
    
    22.5
    %
    
    $
    56,678
    
    
    
    23.7
    %
    
    $
    (2,757
    )
    
    $
    215
    
    
    $
    (2,972
    )Transportation Europe & ROW
    
    
    50,961
    
    
    
    18.0
    %
    
    
    48,639
    
    
    
    19.6
    %
    
    
    2,322
    
    
    
    (2,568
    )
    
    
    4,890Industrial Energy Americas
    
    
    20,135
    
    
    
    25.7
    %
    
    
    14,806
    
    
    
    26.1
    %
    
    
    5,329
    
    
    
    39
    
    
    
    5,290Industrial Energy Europe & ROW
    
    
    40,582
    
    
    
    20.4
    %
    
    
    38,075
    
    
    
    18.8
    %
    
    
    2,507
    
    
    
    (1,717
    )
    
    
    4,224TOTAL
    
    $
    165,599
    
    
    
    20.7
    %
    
    $
    158,198
    
    
    
    21.2
    %
    
    $
    7,401
    
    
    $
    (4,031
    )
    
    $
    11,432
     Expenses
 
    
    Selling and administrative expenses increased $1.9 million, to $111.9 million in the
third quarter of fiscal 2011 from $110.0 million in the third quarter of fiscal 2010.
Excluding favorable foreign currency translation impact of $2.2 million, the expenses
increased by $4.1 million, primarily due to increases in sales-related incentives and costs
associated with the transition of selected executive management positions. Included in
selling and administrative expenses were general and administrative expenses of $48.2
million in the third quarter of fiscal 2011 and $44.7 million in the third quarter of
fiscal 2010.
    
    Restructuring and impairment expenses decreased $7.5 million to $4.1 million in the
third quarter of fiscal 2011 from $11.6 million in the third quarter of fiscal 2010. This
decrease primarily related to fiscal 2010 restructuring activities, principally the closure
of the Over Hulton, U.K. battery plant.
    
    Other income was $3.5 million in the third quarter of fiscal 2011 versus $1.2 million in
the third quarter of fiscal 2010. The net change was primarily driven by currency
remeasurement gains of approximately $4.0 million.
    
    Interest expense was essentially flat at $15.3 million in the third quarter of fiscal
2011 versus the third quarter of fiscal 2010.
 23




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##### Table of Contents



Income (loss) before income taxes
 For
the Three  Months Ended
    
    
    FAVORABLE / (UNFAVORABLE)December 31,
    
    
    December 31,
    
    
    
    
    
    Currency
    
    
    Non-Currency2010
    
    
    2009
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    20,249
    
    
    $
    26,700
    
    
    $
    (6,451
    )
    
    $
    49
    
    
    $
    (6,500
    )Transportation Europe & ROW
    
    
    25,926
    
    
    
    19,912
    
    
    
    6,014
    
    
    
    (1,515
    )
    
    
    7,529Industrial Energy Americas
    
    
    7,617
    
    
    
    4,883
    
    
    
    2,734
    
    
    
    (17
    )
    
    
    2,751Industrial Energy Europe & ROW
    
    
    8,967
    
    
    
    (5,054
    )
    
    
    14,021
    
    
    
    46
    
    
    
    13,975Unallocated expenses
    
    
    (24,925
    )
    
    
    (23,896
    )
    
    
    (1,029
    )
    
    
    (283
    )
    
    
    (746
    )TOTAL
    
    $
    37,834
    
    
    $
    22,545
    
    
    $
    15,289
    
    
    $
    (1,720
    )
    
    $
    17,009
      For the Three Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    FAVORABLE(UNFAVORABLE)(In thousands)Corporate expenses
    
    $
    12,222
    
    
    $
    8,235
    
    
    $
    (3,987
    )Restructuring and impairments, net
    
    
    97
    
    
    
    226
    
    
    
    129Currency remeasurement (gain) loss
    
    
    (3,517
    )
    
    
    451
    
    
    
    3,968Gain on revaluation of warrants
    
    
    
    
    
    
    (740
    )
    
    
    (740
    )Reorgnization items, net
    
    
    826
    
    
    
    387
    
    
    
    (439
    )Other
    
    
    (1
    )
    
    
    71
    
    
    
    72Interest, net
    
    
    15,298
    
    
    
    15,266
    
    
    
    (32
    )TOTAL
    
    $
    24,925
    
    
    $
    23,896
    
    
    $
    (1,029
    )
 Income Taxes
 For the Three Months EndedDecember 31, 
2010
    
    
    December 31, 
2009(In thousands)Pre-tax income
    
    $
    37,834
    
    
    $
    22,545Income tax provision
    
    
    6,613
    
    
    
    12,524Effective tax rate
    
    
    17.5
    %
    
    
    55.6
    %
  24




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Nine months ended December 31, 2010 compared with nine months ended December 31, 2009
 Net Sales
  For the Nine Months Ended
    
    
    FAVORABLE / (UNFAVORABLE)December 31,
    
    
    December 31,
    
    
    
    
    
    Currency
    
    
    Non-Currency2010
    
    
    2009
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    694,278
    
    
    $
    694,349
    
    
    $
    (71
    )
    
    $
    6,667
    
    
    $
    (6,738
    )Transportation Europe & ROW
    
    
    669,507
    
    
    
    577,449
    
    
    
    92,058
    
    
    
    (36,947
    )
    
    
    129,005Industrial Energy Americas
    
    
    216,799
    
    
    
    173,252
    
    
    
    43,547
    
    
    
    1,083
    
    
    
    42,464Industrial Energy Europe & ROW
    
    
    532,386
    
    
    
    526,091
    
    
    
    6,295
    
    
    
    (29,541
    )
    
    
    35,836TOTAL
    
    $
    2,112,970
    
    
    $
    1,971,141
    
    
    $
    141,829
    
    
    $
    (58,738
    )
    
    $
    200,567
     Gross Profit
  25




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##### Table of Contents



For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    FAVORABLE / (UNFAVORABLE)Percent of
    
    
    
    
    
    
    Percent of
    
    
    
    
    
    
    Currency
    
    
    Non-CurrencyTOTAL
    
    
    Net Sales
    
    
    TOTAL
    
    
    Net Sales
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    141,352
    
    
    
    20.4
    %
    
    $
    146,683
    
    
    
    21.1
    %
    
    $
    (5,331
    )
    
    $
    1,159
    
    
    $
    (6,490
    )Transportation Europe & ROW
    
    
    120,876
    
    
    
    18.1
    %
    
    
    97,428
    
    
    
    16.9
    %
    
    
    23,448
    
    
    
    (5,483
    )
    
    
    28,931Industrial Energy Americas
    
    
    53,233
    
    
    
    24.6
    %
    
    
    41,128
    
    
    
    23.7
    %
    
    
    12,105
    
    
    
    235
    
    
    
    11,870Industrial Energy Europe & ROW
    
    
    107,232
    
    
    
    20.1
    %
    
    
    109,549
    
    
    
    20.8
    %
    
    
    (2,317
    )
    
    
    (4,558
    )
    
    
    2,241TOTAL
    
    $
    422,693
    
    
    
    20.0
    %
    
    $
    394,788
    
    
    
    20.0
    %
    
    $
    27,905
    
    
    $
    (8,647
    )
    
    $
    36,552
     Expenses
 
    
    Selling and administrative expenses decreased $9.7 million to $318.7 million in the
first nine months of fiscal 2011 from
$328.4 million in the first nine months of fiscal 2010. Foreign currency translation
favorably impacted selling, general, and administrative expenses in the first nine months of
fiscal 2011 by approximately $6.8 million. The remaining decrease was due primarily to
decreases in selling costs, and other spending controls. Included in selling and
administrative expenses were general and administrative expenses of $134.3 million in the
first nine months of fiscal 2011 and $134.0 million in the first nine months of fiscal 2010.
    
    Restructuring and impairment expenses decreased $46.4 million to $17.5 million in the
first nine months of fiscal 2011 from $63.9 million in the first nine months of fiscal
2010. This decrease primarily related to fiscal 2010 restructuring activities, principally
the closure of the Auxerre, France battery plant and the Over Hulton, U.K. battery plant.
    
    Other income was $2.1 million in the first nine months of fiscal 2011 versus $16.9
million in the first nine months of fiscal 2010. The decrease primarily relates to lower
currency remeasurement gains of approximately $13.1 million.
    
    Interest expense increased $0.6 million to $45.4 million in the first nine months of
fiscal 2011 from $44.8 million in the first nine months of fiscal 2010.
 Income (loss) before income taxes
 For the Nine Months Ended
    
    
    FAVORABLE / (UNFAVORABLE)December 31,
    
    
    December 31,
    
    
    
    
    
    Currency
    
    
    Non-Currency2010
    
    
    2009
    
    
    TOTAL
    
    
    Related
    
    
    Related(In thousands)Transportation Americas
    
    $
    47,624
    
    
    $
    54,189
    
    
    $
    (6,565
    )
    
    $
    318
    
    
    $
    (6,883
    )Transportation Europe & ROW
    
    
    45,603
    
    
    
    687
    
    
    
    44,916
    
    
    
    (2,663
    )
    
    
    47,579Industrial Energy Americas
    
    
    18,543
    
    
    
    10,610
    
    
    
    7,933
    
    
    
    (3
    )
    
    
    7,936Industrial Energy Europe & ROW
    
    
    7,503
    
    
    
    (29,731
    )
    
    
    37,234
    
    
    
    1,573
    
    
    
    35,661Unallocated expenses
    
    
    (76,168
    )
    
    
    (61,145
    )
    
    
    (15,023
    )
    
    
    258
    
    
    
    (15,281
    )TOTAL
    
    $
    43,105
    
    
    $
    (25,390
    )
    
    $
    68,495
    
    
    $
    (517
    )
    
    $
    69,012
  26




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For the Nine Months EndedDecember 31, 
2010
    
    
    December 31, 
2009
    
    
    FAVORABLE(UNFAVORABLE)(In thousands)Corporate expenses
    
    $
    31,139
    
    
    $
    29,920
    
    
    $
    (1,219
    )Restructuring and impairments, net
    
    
    696
    
    
    
    1,283
    
    
    
    587Currency remeasurement gain
    
    
    (3,266
    )
    
    
    (15,717
    )
    
    
    (12,451
    )Gain on revaluation of warrants
    
    
    (168
    )
    
    
    (538
    )
    
    
    (370
    )Reorgnization items, net
    
    
    2,328
    
    
    
    1,262
    
    
    
    (1,066
    )Other
    
    
    (2
    )
    
    
    132
    
    
    
    134Interest, net
    
    
    45,441
    
    
    
    44,803
    
    
    
    (638
    )TOTAL
    
    $
    76,168
    
    
    $
    61,145
    
    
    $
    (15,023
    )
 Income Taxes
 For the Nine Months EndedDecember 31, 2010
    
    
    December 31, 2009(In thousands)Pre-tax (loss) income
    
    $
    43,105
    
    
    $
    (25,390
    )Income tax provision
    
    
    2,800
    
    
    
    26,526Effective tax rate
    
    
    6.5
    %
    
    
    -104.5
    %
   Liquidity and Capital Resources
  27




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The Credit Agreement
  The Revolving Loan
    The Term Loan
      The Senior Notes
  28




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The Convertible Notes
     Sources of Cash
     29




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##### Table of Contents



Uses of Cash
      Financial Instruments and Market Risk
   Accounts Receivable Factoring Arrangements
  
 Item 3. Quantitative and Qualitative Disclosures about Market Risks
  
 Item 4. Controls and Procedures
 Evaluation of Disclosure Controls and Procedures
  30




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Changes in Internal Control Over Financial Reporting
  31




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CAUTIONARY STATEMENT FOR PURPOSES OF THE SAFE HARBOR
PROVISION OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
     32




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##### Table of Contents



PART II. OTHER INFORMATION
 
 Item 1. Legal Proceedings
  
 Item 1A. Risk Factors
  Any restructuring activities that we may undertake, including the Companys recently announced
alignment of its global industrial businesses, may not achieve the benefits anticipated and could
result in additional unanticipated costs, which could have a material adverse effect on the
Companys business, financial condition, cash flows, or results of operations.
  
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
 (d) Maximum Number(c) Total Number of
    
    
    (or ApproximateShares (or Units)
    
    
    Dollar Value) ofPurchased as Part
    
    
    Shares (or Units)(a) Total Number of
    
    
    (b) Average Price
    
    
    of Publicly
    
    
    that May Yet BeShares (or Units)
    
    
    Paid per Share (or
    
    
    Announced Plans or
    
    
    Purchased Under thePeriod
    
    Purchased  (1)
    
    
    Unit)
    
    
    Programs
    
    
    Plans or ProgramsOctober 1 through October 31
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    November 1 through November 30
    
    
    3,109
    
    
    $
    7.69
    
    
    
    
    
    
    
    December 1 through December 31
    
    
    31,007
    
    
    $
    9.35
    
    
    
    
    
    
    
    
 
 (1)
    
    Acquired by the Company in exchange for payment of U.S. tax
obligations for certain participants in the Companys 2004 Stock
Incentive Plan that elected to surrender a portion of their shares in
connection with vesting of restricted stock awards. 
 Item 3. Defaults Upon Senior Securities
  
 Item 4. [Removed and Reserved]
  
 Item 5. Other Information
  
 Item 6. Exhibits
 10.1
    
    U.K. Form of Non-Employee Director Restricted Stock Unit Award, incorporated by reference to
Exhibit 10.1 to the Report on Form 8-K (file no. 001-11263) dated September 20, 2010.10.2
    
    U.K. Form of Non-Employee Director Restricted Stock Unit Award for New Directors, incorporated by reference
 33




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to Exhibit 10.2 to the Report on Form 8-K (file no. 001-11263) dated September 20, 2010.10.3
    
    U.S. Form of Non-Employee Director Restricted Stock Unit Award for New Directors, incorporated by
reference to Exhibit 10.3 to the Report on Form 8-K (file no. 001-11263) dated September 20, 2010.10.4
    
    Form of Indemnification Agreement, incorporated by reference to Exhibit 10.1 to the Report on Form
8-K (file no. 001-11263) dated November 10, 2010.10.5
    
    Release, Settlement and Income Protection Agreement between Exide Technologies and Mitchell S.
Bregman, incorporated by reference to Exhibit 10.1 to the Report on Form 8-K (file no. 001-11263)
dated December 20, 2010.*10.6
    
    Amendment to Agreement between Exide Technologies and Edward R. Tetreault, dated December 22, 2010.*31.1
    
    Certification of James R. Bolch, President and Chief Executive Officer, pursuant to Section 302 of
Sarbanes-Oxley Act of 2002.*31.2
    
    Certification of Phillip A. Damaska, Executive Vice President and Chief Financial
Officer, pursuant to Section 302 of Sarbanes-Oxley Act of 2002.*32
    
    Certifications pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
 
 *
    
    Filed with this Report 34




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SIGNATURES
  EXIDE TECHNOLOGIESBy:
    /s/ Phillip A. DamaskaPhillip A. DamaskaExecutive Vice President and
Chief Financial Officer Date: February 7, 2011 35