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Hexcel Reports Strong 2013 Second Quarter Results

Regulatory News:

 
  Quarter Ended

June 30,

    Six Months Ended

June 30,

 
(In millions, except per share data)     2013     2012   % Change     2013     2012   % Change
   
Net Sales $ 422.6 $ 399.2 5.9% $ 839.1 $ 799.3 5.0%
Net sales change in constant currency 5.2% 4.6%
Operating Income 71.9 73.9 (2.7)% 134.9 134.5 0.3%
Net Income 48.5 48.0 1.0% 92.1 87.6 5.1%
Diluted net income per common share $ 0.48 $ 0.47 2.1% $ 0.90 $ 0.86 4.7%
 
Non-GAAP Measures for y-o-y comparisons:
Adjusted Operating Income (table C) $ 71.9 $ 64.4 11.6% $ 134.9 $ 125.0 7.9%
As a % of sales 17.0% 16.1% 16.1% 15.6%
Adjusted Net Income (table C) 49.1 42.7 15.0% 92.7 82.3 12.6%
Adjusted diluted net income per share   $ 0.48   $ 0.42   14.3%   $ 0.91   $ 0.81   12.3%

Hexcel Corporation (NYSE:HXL) (Paris:HXL), today reported results for the second quarter of 2013. Net sales during the quarter were $422.6 million, 5.9% higher than the $399.2 million reported for the second quarter of 2012. Operating income for the period was $71.9 million compared to $73.9 million last year ($64.4 million adjusted operating income, see Table C). Net income for the second quarter of 2013 was $48.5 million or $0.48 per diluted share, compared to $48.0 million or $0.47 per diluted share in 2012 ($0.42 per share as adjusted, see Table C).

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