C&D Technologies announced financial results for the fiscal 2008 third quarter ended October 2007. For the quarter, the Company reported a consolidated net loss of $9.3 million, compared to a net loss of $17.8 million in the prior year's third quarter. Net loss from continuing operations was $7.0 million, compared to $0.3 million in the third quarter of fiscal 2007. Net loss from discontinued operations was $2.3 million, compared to a net loss of $17.6 million in the third quarter of fiscal 2007. Revenues were $91.3 million, an increase of 29.3% compared to $70.6 million in the prior year's third quarter and up approximately 10% from $82.8 million in our second quarter.

The company sold the Power Electronics Division to Murata Manufacturing of Japan, and reached agreement to sell certain assets of the Motive Power Division to Crown Battery. With record revenues of $91.3 million in the third quarter, the Standby Power division posted its fourth consecutive sequential revenue increase. Standby Power's operating loss of $4.4 million was driven by increasing raw material prices, primarily lead, which reached record highs during the quarter, but has since softened significantly, as well as increased general and administrative cost allocations principally resulting from the divestiture of the Power Electronics and Motive Power divisions.