Exide slips deeper into red, finance chief quits

Nov 14, 2005 | 06:46 AM |

Battery producer Exide Technologies Inc.'s widened loss during the fiscal second quarter ended Sept. 30 was overshadowed by the resignation of J. Timothy Gargaro, chief financial officer and executive vice president, who was named in a lawsuit filed earlier this year alleging fraud.

EXIDE TECHNOLGIES INC.(in thousands except per share) 200520042nd qtr. ended Sept. 30Net sales$686,485$637,599Net income (loss)(33,023)(17,101)Per share--Gargaro and Craig Mulhauser, Exide's former president and chief executive officer, were cited in a lawsuit brought by New York-based private investment firm Murray Capital Management Inc. The lawsuit accused the two, executives along with Alpharetta, Ga.,-based Exide and....

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