Stamford, CT-based Hexcel Corp. (NYSE: HXL) reported sales for the first quarter 2010 were $263.0 million, down 14.4 percent in a year-over-year comparison. Profit declined 32 percent to $15.8 million.
Industrial sales totaled $38.5 million for the quarter, down 52 percent in constant currency from last year, primarily a result of lower demand from wind energy. Excluding sales to wind energy customers, sales in the Industrial segment were down 20 percent.
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Commercial aerospace sales of $152.0 million declined 1.2% (3.1% in constant currency) for the quarter. Space & Defense sales of $72.5 million for the quarter were down 6.2% (7.4% in constant currency) compared to the first quarter of 2009.
Hexcel is a manufacturer of advanced composites used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.
