Exide Technologies filed with the SEC its Form 10-Q for the three months ended September 30, 2013. According to the filing, the Company reported a $5.44 million operating loss on $697.8 million in net sales, compared to a $77.2 million operating loss on $711.7 million in net sales for the three months ended September 30, 2012. The filing states that the foreign currency translation (primarily the strengthening of the Euro against the U.S. dollar) favorably impacted net sales in the three month period ended September 30, 2013 by approximately $19.4 million. Excluding foreign currency translation impact, net sales decreased by approximately $44.5 million, or 3.2%, primarily due to lower transportation net sales resulting from the Company’s sale of its “Transportation Australasia” business. Net loss for the quarter was $39.7 million, which reflects a wide increase from $13.77 million net loss for the same period of 2012.
About Brandy Chetsas
Brandy L. Chetsas is editor in chief at Bankrupt Company News. She joined New Generation Research, Inc. in 1998. As Director of Strategic Content, she leverages 20+ years of communications and project management experience for the distressed investing sector--with particular expertise on corporate restructurings via Chapter 11. Brandy began her career writing for a law enforcement-related publication and teaching English courses at numerous colleges in the U.S. and abroad.