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Hexcel Reports 2011 Fourth Quarter And Full Year Results

(b) FX effect is the estimated impact on “as reported” net sales due to changes in foreign currency exchange rates.

Hexcel Corporation and Subsidiaries
Segment Information   (Unaudited) Table B
(In millions)     Composite Materials (b)     Engineered Products     Corporate & Other (a)(b)     Total
Fourth Quarter 2011                        
Net sales to external customers   $ 279.0   $ 76.3   $   $ 355.3
Intersegment sales     11.4       0.8       (12.2 )      
Total sales 290.4 77.1 (12.2 ) 355.3
Operating income (loss) 51.1 11.0 (12.7 ) 49.4
% Operating margin 17.6 % 14.3 % 13.9 %
 
Depreciation and amortization 12.6 1.1 13.7
Stock-based compensation expense 0.9 0.2 1.5 2.6
Accrual based additions to capital expenditures     77.4       2.3       0.5       80.2  
Fourth Quarter 2010                  
Net sales to external customers $ 240.6 $ 70.4 $ $ 311.0
Intersegment sales     8.5       0.3       (8.8 )      
Total sales 249.1 70.7 (8.8 ) 311.0
 
Operating income (loss) (b) 32.0 11.8 (12.8 ) 31.0
% Operating margin 12.8 % 16.7 % 10.0 %
 
Depreciation and amortization 12.9 1.0 13.9
Stock-based compensation expense 0.7 0.1 1.1 1.9
Accrual based additions to capital expenditures     34.7       1.9             36.6  
                                 
Full Year 2011                        
Net sales to external customers $ 1,074.5 $ 317.9 $ $ 1,392.4
Intersegment sales     53.8       1.6       (55.4 )      
Total sales 1,128.3 319.5 (55.4 ) 1,392.4
 
Operating income (loss) (b) 194.5 51.6 (54.1 ) 192.0
% Operating margin 17.2 % 16.2 % 13.8 %
 
Other operating (income) expense (5.7 ) 2.7 (3.0 )
Depreciation and amortization 50.8 4.3 0.2 55.3
Stock-based compensation expense 4.3 1.1 8.5 13.9
Accrual based additions to capital expenditures     176.6       6.9       1.0       184.5  
Full Year 2010                  
Net sales to external customers $ 904.5 $ 269.1 $ $ 1,173.6
Intersegment sales     38.7       0.6       (39.3 )      
Total sales 943.2 269.7 (39.3 ) 1,173.6
 
Operating income (loss) (b) 139.6 45.7 (55.5 ) 129.8
% Operating margin 14.8 % 16.9 % 11.1 %
 
Other operating expense 3.5 3.5
Depreciation and amortization 49.1 3.9 0.2 53.2
Stock-based compensation expense 4.2 0.7 7.5 12.4
Accrual based additions to capital expenditures     57.3       3.3       0.1       60.7  

(a) We do not allocate corporate expenses to the operating segments.

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