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TheStreet Open House

Hexcel Raises Guidance On Strong 2012 Third Quarter Results

Regulatory News:

Hexcel Corporation (NYSE:HXL)(Paris:HXL):

 
  Quarter Ended

September 30,

    Nine Months Ended

September 30,

 
(In millions, except per share data)     2012     2011   % Change     2012     2011   % Change
   
Net Sales $ 391.6 $ 351.8 11.3% $ 1,190.9 $ 1,037.1 14.8%
Net sales change in constant currency 13.4% 17.0%
Operating Income 60.0 46.0 30% 194.5 142.6 36%
Net Income 39.8 32.2 24% 127.4 96.0 33%
Diluted net income per common share $ 0.39 $ 0.32 22% $ 1.25 $ 0.95 32%
 
Non-GAAP Measures for y-o-y comparisons:
Adjusted Operating Income (table C) $ 60.0 $ 48.7 23% $ 185.0 $ 139.6 33%
As a % of sales 15.3% 13.8% 15.5% 13.5%
Adjusted Net Income (table C) 39.8 34.0 17.1% 122.1 91.2 34%
Adjusted diluted net income per share   $ 0.39   $ 0.34   14.7%   $ 1.20   $ 0.91   32%

Hexcel Corporation (NYSE:HXL), today reported results for the third quarter of 2012. Net sales during the quarter were $391.6 million, 11.3% higher than the $351.8 million reported for the third quarter of 2011. Operating income for the period was $60.0 million, compared to $46.0 million last year, while net income for the third quarter of 2012 was $39.8 million, or $0.39 per diluted share, compared to $32.2 million or $0.32 per diluted share in 2011. Excluding the impact of items in Table C, adjusted diluted net income for the third quarter of 2012 was $0.39 per share compared to $0.34 per share in 2011.

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