June 3, 2010 / 1:32 PM / 9 years ago

Exide Technologies shares up 26 pct on strong Q4 results

June 3 (Reuters) - Shares of Exide Technologies XIDE.O rose as much as 22 percent in pre-market trade Thursday, a day after the provider of stored electrical energy solutions posted a quarterly profit that handily beat the consensus view, driven largely by higher sales across its segments.

For the fourth-quarter ended March 31, Exide reported net income of $40.4 million, 53 cents a share, compared with a net loss of $64.4 million, or 85 cents a share a year earlier. [ID:nWNAB5693]

Separately, the company’s Chief Operating Officer, Edward O’Leary submitted his resignation effective June 16, 2010.

Shares of the Georgia-based Exide Technologies were up almost 26 percent at $5.42 before the bell. They had closed at $4.27, Wednesday, on Nasdaq.

Reporting by Biswarup Gooptu in Bangalore; Editing by Vyas Mohan

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