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TheStreet Open House

Hexcel Reports Strong 2012 Fourth Quarter And Record Full Year Results

Regulatory News:

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

 
  Quarter Ended

December 31,

    Year Ended

December 31,

 
(In millions, except per share data)     2012     2011   % Change     2012     2011   % Change
   
Net Sales $ 387.3 $ 355.3 9.0% $ 1,578.2 $ 1,392.4 13%
Net sales change in constant currency 9.5% 15%
Operating Income 54.3 49.4 9.9% 248.8 192.0 30%
Net Income 36.9 39.5 (6.6)% 164.3 135.5 21%
Diluted net income per common share $ 0.36 $ 0.39 (7.7)% $ 1.61 $ 1.35 19%
 
Non-GAAP Measures for comparisons (see Table C):
Adjusted Operating Income $ 54.3 $ 49.4 9.9% $ 239.3 $ 189.0 27%
As a % of sales 14.0% 13.9% 15.2% 13.6%
Adjusted Net Income 36.9 33.7 9.5% 159.0 124.9 27%
Adjusted diluted net income per share   $ 0.36   $ 0.33   9.1%   $ 1.56   $ 1.24   26%

Hexcel Corporation (NYSE: HXL), today reported results for the fourth quarter of 2012. Net sales during the quarter were $387.3 million, 9.0% higher than the $355.3 million reported for the fourth quarter of 2011. Operating income for the period was $54.3 million, compared to $49.4 million last year. Net income for the fourth quarter of 2012 was $36.9 million, or $0.36 per diluted share, compared to $39.5 million or $0.39 per diluted share in 2011. Excluding the impact of tax adjustments in 2011 (Table C), adjusted diluted net income for the fourth quarter of 2011 was $0.33 per share.

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