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Hexcel Reports 2011 Second Quarter Results

Regulatory News:

 
        Quarter Ended

June 30,

      Six Months Ended

June 30,

 
(In millions, except per share data)           2011         2010         % Change           2011         2010         % Change
                   
Net Sales $ 353.7 $ 305.1 15.9 % $ 685.3 $ 568.1 20.6 %
Net sales change in constant currency 11.9 % 18.4 %
Operating Income 49.4 40.5 22 % 96.6 64.3 50 %
Net Income 37.4 23.1 62 % 63.8 38.9 64 %
Diluted net income per common share $ 0.37 $ 0.23 61 % $ 0.63 $ 0.39 62 %
 
Non-GAAP Measures for y-o-y comparisons:
Adjusted Operating Income (table C) $ 49.4 $ 40.5 22 % $ 90.9 $ 67.8 34 %
As a % of sales 14.0 % 13.3

%

 

13.3 % 11.9 %
Adjusted Net Income (table C) 31.9 23.1 38 % 57.2 37.6 52 %
Adjusted diluted net income per share         $ 0.32       $ 0.23         39 %       $ 0.57       $ 0.38         50 %

Hexcel Corporation (NYSE: HXL), today reported results for the second quarter of 2011. Net sales during the quarter were $353.7 million, 15.9% higher than the $305.1 million reported for the second quarter of 2010. Operating income for the period was $49.4 million, compared to $40.5 million last year. Net income for the second quarter of 2011 was $37.4 million, or $0.37 per diluted share, compared to $23.1 million or $0.23 per diluted share in 2010. Excluding the $5.5 million impact of a tax settlement (Table C), adjusted diluted net income for the second quarter of 2011 was $0.32 per share compared to $0.23 per share in 2010.

Stock quotes in this article: HXL 

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