This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Hexcel Reports 2011 Third Quarter Results

Regulatory News:

 

Third Quarter 2011 Highlights

Sales of $351.8 million were 19.5% higher than last year (17.3% in constant currency)led again by strong Commercial Aerospace sales (up 31.2% in constant currency).

 

Net Income Was $32.2 Million, $0.32 Diluted EPS ($0.34 Adjusted Diluted EPS, See TableC), versus $15.6 Million, $0.16 Diluted EPS ($0.20 Adjusted Diluted EPS Last Year).

 

2011 adjusted diluted EPS guidance increased to a range of $1.18 to $1.23 (from $1.05 - $1.12) and sales increased to a range of $1,375 million to $1,400 million.

 
     

Quarter EndedSeptember 30,

       

Nine Months EndedSeptember 30,

   
 
(In millions, except per share data)           2011         2010     % Change         2011         2010     % Change
               
Net Sales $ 351.8 $ 294.5 19.5% $ 1,037.1 $ 862.6 20.2%
Net sales change in constant currency 17.3% 18.1%
Operating Income 46.0 34.5 33.3% 142.6 98.8 44.3%
Net Income 32.2 15.6 106% 96.0 54.5 76%
Diluted net income per common share $ 0.32 $ 0.16 100% $ 0.95 $ 0.55 73%
 

Non-GAAP Measures for y-o-y comparisons:

Adjusted Operating Income (table C) $ 48.7 $ 34.5 41.1% $ 139.6 $ 102.3 36.5%
As a % of sales 13.8% 11.7% 13.5% 11.9%
Adjusted Net Income (table C) 34.0 19.9 71% 91.2 57.5 59%
Adjusted diluted net income per share       $   0.34     $   0.20     70%     $   0.91     $   0.58     57%
 

Hexcel Corporation (NYSE:HXL)(Paris:HXL), today reported results for the third quarter of 2011. Net sales during the quarter were $351.8 million, 19.5% higher than the $294.5 million reported for the third quarter of 2010. Operating income for the period was $46.0 million, compared to $34.5 million last year. Net income for the third quarter of 2011 was $32.2 million, or $0.32 diluted earnings per share, compared to $15.6 million or $0.16 diluted earnings per share in 2010. Excluding the items in Table C, adjusted diluted net income for the third quarter of 2011 was $0.34 per share compared to $0.20 per share in the third quarter of 2010.

Stock quotes in this article: HXL 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs