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Hexcel Reports 2012 Second Quarter 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
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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