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(AMM) Exide net slips, addresses Wal-Mart rebuff

February 08, 2010 - 20:53 GMT Location: NEW YORK

KEYWORDS: Exide Technologies , Wal-Mart , batteries , Johnson Controls

Battery manufacturer Exide Technologies? earnings slumped in its fiscal third quarter due to lower unit volumes.

The company held its earnings conference call a day earlier than originally scheduled to address investor concerns after Wal-Mart Stores Inc. announced it was dropping Exide and another battery maker from its suppliers and will now source its battery needs solely from competitor Johnson Controls Inc

"This is obviously disappointing," Exide chief executive officer Gordon Ulsh told investors during the conference call. "We recognize that we'll be facing...

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