8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): March 30, 2007

Exide Technologies
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	1-11263	23-0552730
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
13000 Deerfield Parkway, Building 200, Alpharetta, Georgia		30004
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (678) 566-9000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

In connection with the filing of a registration statement on Form S-3 with the Securities and Exchange Commission (the "SEC") on the date of this current report on Form 8-K, Exide Technologies (the "Company") is providing the information set forth in Exhibit 99.1 hereto and incorporated herein by reference to provide certain historical earnings per share data to give effect to the Company's $75.0 million rights offering and $50.0 million private placement of common stock, both consummated on September 18, 2006, to comply with the SEC guidance applicable to registration statements filed under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.

99.1 Select Financial Data

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Exide Technologies
March 30, 2007	By:	Francis M. Corby, Jr.
		Name: Francis M. Corby, Jr.
		Title: Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Selected Financial Data

EX-99.1

Exhibit 99.1
Selected Financial Data
(in thousands, except per share data)
	Predecessor Company												Successor Company
										Period from			Period From
	Fiscal Year Ended									April 1, 2004			May 6, 2004			Fiscal			Nine Months Ended
										to			to			Year Ended			December 31,			December 31,
	2002			2003			2004			May 5, 2004			March 31, 2005			2006			2006			2005
Statement of Operations Data
Net sales	$	2,428,550		$	2,361,101		$	2,500,493		$	214,607		$	2,476,259		$	2,819,876		$	2,133,232		$	2,089,259
Gross profit		463,919			516,541			509,325			35,470			377,502			406,831			344,785			324,942
Selling, marketing and advertising expenses		290,957			261,299			264,753			24,504			251,085			271,059			201,786			204,948
General and administrative expenses		178,842			175,177			161,271			17,940			150,871			190,993			124,650			129,347
Restructuring expense		33,122			25,658			52,708			602			42,479			21,714			22,222			16,051
Goodwill impairment charge		105,000			37,000			—			—			388,524			—			—			—
Other (income) expense net		24,554			(11,035	)		(40,724	)		6,222			(56,898	)		3,684			6,448			12,781
Interest expense, net		136,241			105,788			99,027			8,870			42,636			69,464			67,742			51,163
Loss before reorganization items, income tax, minority interest and cumulative effect of change in accounting principle		(304,797	)		(77,346	)		(27,710	)		(22,668	)		(441,195	)		(150,083	)		(78,063	)		(89,348	)
Reorganization items, net		—			36,370			67,042			18,434			11,527			6,158			3,784			4,398
Fresh start accounting		—			—			—			(228,371	)		—			—			—			—
Gain on discharge		—			—			—			(1,558,839	)		—			—			—			—
Minority interest		211			200			467			26			(18	)		529			478			72
Income taxes		(1,422	)		26,969			3,271			(2,482	)		14,219			15,962			1,924			2,572
Income (Loss) before cumulative effect of change in accounting principle		(303,586	)		(140,885	)		(98,490	)		1,748,564			(466,923	)		(172,732	)		(84,249	)		(96,390	)
Cumulative effect of change in accounting principle (1)		(496	)		—			(15,593	)		—			—			—			—			—
Net income (loss)	$	(304,082	)	$	(140,885	)	$	(114,083	)	$	1,748,564		$	(466,923	)	$	(172,732	)	$	(84,249	)	$	(96,390	)
Basic and diluted net income (loss) per share (2)	$	(11.35	)	$	(5.14	)	$	(4.17	)	$	63.86		$	(18.26	)	$	(6.75	)	$	(2.16	)	$	(3.77	)
Weighted Average Shares (2)		26,798			27,383			27,383			27,383			25,576			25,576			38,940			25,576
Balance Sheet Data (at period end)
Working capital (deficit) (3)	$	(951,866	)	$	(15,876	)	$	(270,394	)	$	402,076		$	(180,172	)	$	431,570		$	505,697		$	413,819
Property, plant and equipment, net		530,220			533,375			543,124			826,900			799,763			685,842			651,320			691,384
Total assets		1,915,868			2,372,691			2,471,808			2,729,404			2,290,780			2,082,909			2,141,232			2,123,179
Total debt		1,413,272			1,804,903			1,847,656			547,549			653,758			701,004			685,380			678,293
Total stockholders’ equity (deficit)		(555,742	)		(695,369	)		(769,769	)		888,391			427,259			224,739			299,495			301,992
Other Financial Data
Cash provided by (used in):
Operating activities (4)	$	(6,665	)	$	(239,858	)	$	40,551		$	(7,186	)	$	(9,691	)	$	(44,348	)	$	(35,052	)	$	(44,401	)
Investing activities		(58,462	)		(39,095	)		(38,411	)		(4,352	)		(44,013	)		(32,817	)		(25,593	)		(18,204	)
Financing activities		73,720			278,882			(9,667	)		35,168			68,925			34,646			90,882			25,156
Capital expenditures		61,323			45,878			65,128			7,152			69,114			58,133			28,978			37,861
Cash dividents per share		0.04			—			—			—			—			—			—			—

(1) The cumulative effect of change in accounting principle in fiscal 2002 resulted from the adoption of SFAS 133 on April 1, 2001 and in fiscal 2004 resulted from the adoption of SFAS 143 on April 1, 2003.

(2) On September 18, 2006, the Company completed a $75.0 million rights offering and $50.0 million private sale which allowed stockholders to purchase additional shares of common stock. The Company distributed, at no charge to its holders of common stock, non-transferable subscription rights to purchase additional shares of the Company’s common stock. Each holder received 0.85753 of a subscription right for each share of common stock owned at the close of business on August 23, 2006, subject to adjustments to eliminate fractional rights. The per share price was equal to a 20% discount to the average closing price of the Company’s common stock for the 30 trading day period ended July 6, 2006. Upon consummation of the rights offering, the fair value of the Company’s common stock was more than the rights offering’s $3.50 per share subscription price. Accordingly, basic and diluted loss per common share have been restated for the Successor Company for the period May 6, 2004 to March 31, 2005, the fiscal year ended 2006, and the nine months ended December 31, 2006 and 2005 to reflect a stock dividend of 576 shares of the Company’s common stock.

(3) Working capital (deficit) is calculated as current assets less current liabilities, which at March 31, 2005 and March 31, 2002 reflects the reclassification of certain long-term debt as current. At March 31, 2003 and March 31, 2004, working capital (deficit) excludes liabilities of the Debtors classified as subject to compromise.

(4) Cash used in operating activities in fiscal 2003 includes the repurchase of uncollected securitized accounts receivable under the terminated U.S. and European securitization programs of $117,455 and $124,793, respectively.