Hexcel Reports Record 2013 Fourth Quarter And 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)       2013         2012     % Change           2013         2012     % Change  
           
Net Sales $ 426.8 $ 387.3 10.2 % $ 1,678.2 $ 1,578.2 6.3 %
Net sales change in constant currency 9.1 % 5.6 %
Operating Income 67.0 54.3 23.4 % 270.9 248.8 8.9 %
Net Income 47.1 36.9 27.6 % 187.9 164.3 14.4 %
Diluted net income per common share $ 0.46 $ 0.36 27.8 % $ 1.84 $ 1.61 14.3 %
 
Non-GAAP Measures for comparisons (see Table C):
Adjusted Operating Income $ 67.0 $ 54.3 23.4 % $ 270.9 $ 239.3 13.2 %
As a % of sales 15.7 % 14.0 % 16.1 % 15.2 %
Adjusted Net Income 47.1 36.9 27.6 % 188.5 159.0 18.6 %
Adjusted diluted net income per share   $   0.46     $   0.36     27.8 %     $   1.85     $   1.56     18.6 %
 

Hexcel Corporation, today reported results for the fourth quarter of 2013. Net sales during the quarter were $426.8 million, 10.2% higher than the $387.3 million reported for the fourth quarter of 2012. Operating income for the period was $67.0 million, compared to $54.3 million last year. Net income for the fourth quarter of 2013 was $47.1 million, or $0.46 per diluted share, compared to $36.9 million or $0.36 per diluted share in 2012.

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