C&D Technologies, Inc. announced financial results for the fiscal 2011 second quarter ended July 31, 2010.

Dr. Jeffrey A. Graves, President and CEO, said, "In the second quarter, we achieved positive improvements in our operational performance, excluding the impact of the non-cash goodwill impairment of $60 million, or approximately $46 million net of tax, and took steps to address our financial capital structure, which needs to be restructured. New product introductions, increased Asian market penetration, a focused pricing strategy and ongoing efficiency initiatives drove gross margins to 13.2% in the second quarter, up from 12.1% in the second quarter of fiscal year 2010 and 11.8% in the first quarter of fiscal 2011. The progress in margin improvement was dampened by the impact of a temporary labor disruption in our Asian operations during the second half of the quarter, which negatively impacted second quarter operating income by slightly more than an estimated $1 million, and was resolved by quarter end."

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