Hexcel Reports 2011 Fourth Quarter And Full Year Results

Regulatory News:
 
 

Quarter EndedDecember 31,
   

Year EndedDecember 31,
 
(In millions, except per share data)     2011     2010   % Change     2011     2010   % Change
   
Net Sales $ 355.3 $ 311.0 14.2% $ 1,392.4 $ 1,173.6 18.6%
Net sales change in constant currency 14.4% 17.1%
Operating Income 49.4 31.0 59% 192.0 129.8 48%
Net Income 39.5 22.9 72% 135.5 77.4 75%
Diluted net income per common share $ 0.39 $ 0.23 70% $ 1.35 $ 0.77 75%
 
Non-GAAP Measures for y-o-y comparisons:
Adjusted Operating Income (table C) $ 49.4 $ 31.0 59% $ 189.0 $ 133.3 42%
As a % of sales 13.9% 10.0% 13.6% 11.4%
Adjusted Net Income (table C) 33.7 20.0 69% 124.9 77.5 61%
Adjusted diluted net income per share   $ 0.33   $ 0.20   65%   $ 1.24   $ 0.78   59%

Hexcel Corporation (NYSE: HXL) (Paris:HXL), today reported results for the fourth quarter of 2011. Net sales during the quarter were $355.3 million, 14.2% higher than the $311.0 million reported for the fourth quarter of 2010. Operating income for the period was $49.4 million, compared to $31.0 million last year. Net income for the fourth quarter of 2011 was $39.5 million, or $0.39 per diluted share, compared to $22.9 million or $0.23 per diluted share in 2010. Excluding the impact of tax adjustments (Table C), adjusted diluted net income for the fourth quarter of 2011 was $0.33 per share compared to $0.20 per share in 2010.

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