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Hexcel Reports 2012 Second Quarter Results

Stocks in this article: HXL

(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
Second Quarter 2012                        
Net sales to external customers   $ 316.7   $ 82.5   $   $ 399.2
Intersegment sales     14.9       0.2       (15.1 )      
Total sales 331.6 82.7 (15.1 ) 399.2
Operating income (loss) 80.9 11.7 (18.7 ) 73.9
% Operating margin 24.4 % 14.1 % 18.5 %
 
Other operating (income) expense (b) (14.5 ) 5.0 (9.5 )
Depreciation and amortization 13.3 1.0 14.3
Stock-based compensation expense 0.9 0.1 2.0 3.0
Accrual based additions to capital expenditures     67.0       2.6       0.2       69.8  
Second Quarter 2011                  
Net sales to external customers $ 276.8 $ 76.9 $ $ 353.7
Intersegment sales     13.9       0.2       (14.1 )      
Total sales 290.7 77.1 (14.1 ) 353.7
Operating income (loss) (b) 48.5 11.9 (11.0 ) 49.4
% Operating margin 16.7 % 15.4 % 14.0 %
 
Depreciation and amortization 12.8 1.0 13.8
Stock-based compensation expense 0.9 0.1 1.4 2.4
Accrual based additions to capital expenditures     28.4       1.5             29.9  

First Six Months 2012

                       
Net sales to external customers $ 632.9 $ 166.4 $ $ 799.3
Intersegment sales     30.8       0.3       (31.1 )      
Total sales 663.7 166.7 (31.1 ) 799.3
Operating income (loss) 146.7 23.5 (35.7 ) 134.5
% Operating margin 22.1 % 14.1 % 16.8 %
 
Other operating (income) expense (b) (14.5 ) 5.0 (9.5 )
Depreciation and amortization 26.2 2.1 28.3
Stock-based compensation expense 3.0 0.5 7.0 10.5
Accrual based additions to capital expenditures     110.6       3.7       0.2       114.5  
First Six Months 2011                  
Net sales to external customers $ 533.1 $ 152.2 $ $ 685.3
Intersegment sales     27.8       0.5       (28.3 )      
Total sales 560.9 152.7 (28.3 ) 685.3
Operating income (loss) 98.3 24.4 (26.1 ) 96.6
% Operating margin 17.5 % 16.0 % 14.1 %
 
Other operating (income) expense (b) (5.7 ) (5.7 )
Depreciation and amortization 25.7 2.1 0.1 27.9
Stock-based compensation expense 2.5 0.4 5.9 8.8
Accrual based additions to capital expenditures     52.7       2.4             55.1  

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

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