(Loss)Earnings Per Share

6 Months Ended

Sep. 30, 2011

(14) (LOSS) EARNINGS PER SHARE

The Company computes basic (loss) earnings per share by dividing net (loss) earnings by the weighted average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) earnings, after adding back the after-tax amount of interest recognized in the period associated with the Company’s Floating Rate Convertible Senior Subordinated Notes, by diluted weighted average shares outstanding. For the three and six month periods ended September 30, 2011 and 2010, market rates were below the level at which interest payments for these notes are required.

Potentially dilutive shares include the assumed exercise of stock options and the assumed vesting of restricted stock and stock unit awards (using the treasury stock method) as well as the assumed conversion of the convertible debt, if dilutive (using the if-converted method). Shares which are contingently issuable under the Company’s plan of reorganization have been included as outstanding common shares for purposes of calculating basic (loss) earnings per share.


	For the Three Months Ended					For the Six Months Ended
	September 30, 2011			September 30, 2010		September 30, 2011			September 30, 2010
	(In thousands, except per share amounts)
Net (loss) income attributable to Exide Technologies	$	(3,588	)	$	17,957	$	(8,780	)	$	8,913

Basic weighted average shares outstanding		77,627			76,492		77,573			76,416


Effect of dilutive securities:
Floating Rate Convertible Senior Subordinated Notes		—			3,697		—			3,697
Employee stock options		—			350		—			393
Employee restricted stock awards (non-vested)		—			64		—			128

		—			4,111		—			4,218


Diluted weighted average shares outstanding		77,627			80,603		77,573			80,634


Basic (loss) earnings per share:	$	(0.05	)	$	0.23	$	(0.11	)	$	0.12


Diluted (loss) earnings per share:	$	(0.05	)	$	0.22	$	(0.11	)	$	0.11

Due to a net loss for the three and six month periods ended September 30, 2011, certain potentially dilutive shares were excluded from the diluted loss per share calculation for those periods because their effect would be antidilutive:


	September 30, 2011
	(In thousands)
Shares associated with convertible debt (assumed conversion)		3,697
Employee stock options		3,071
Restricted stock awards		1,259


Total shares excluded		8,027

For the three and six months ended September 30, 2010, 2,195,053 and 2,248,524 stock options, respectively, were excluded from the diluted earnings per share calculation because their exercise prices were greater than the average market price of the related common stock for the periods, and their inclusion would be antidilutive. In addition, 6,725,444 warrants were outstanding for both periods, but were all excluded from the diluted earnings per share calculation because their exercise prices were greater than the market price of the related common stock for the period, and their inclusion would also be antidilutive.