The 2020 Mid-Year Economic Update_long

Hexcel Sales Up 14% in Fourth Quarter

Profit for the advanced composites manufacturer grew 72.5%.

Hexcel Corporation (NYSE: HXL), Stamford, CT, reported sales for the fourth quarter were $355.3 million, up 14.2 percent over the same period a year ago. Profit increased 72.5 percent to $39.5 million.

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For the full year, sales were $1.4 billion, up 18.6 percent in a year-over-year comparison. Profit increased 75 percent to $135.5 million.

\”Despite concerns about the global economy, the large backlogs of orders at our major customers suggest we are well positioned for 2012 and beyond,\” CEO David E. Berges said.

Commercial Aerospace sales of $210.7 million increased 21 percent (21.3 percent in constant currency) for the quarter as compared to the fourth quarter of 2010. For the full year 2011, Commercial Aerospace sales were up 27.1 percent in constant currency.

Space & Defense sales of $77.1 million were 8.4 percent lower (8.2 percent in constant currency) than the record fourth quarter of 2010, due primarily to the timing of shipments. For the year, Space & Defense sales were up 2 percent in constant currency over 2010.

Total Industrial sales of $67.5 million for the fourth quarter of 2011 were 28.1 percent higher (27.8 percent in constant currency) than the fourth quarter of 2010. Wind sales were up significantly from a weak fourth quarter of 2010. For the year, wind sales were up more than 15 percent in constant currency and grew sequentially in each of the four quarters.

Hexcel Corporation is manufacturer of advanced composites used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.

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