- 9 May 2007 -
Hexcel reports first quarter sales growth

HEXCEL CORP has reported first quarter net sales of US$328.7 million, an increase of $27.5 million on the first quarter (Q1) of 2006. Total net income was $23.5 million, up from $14.5 million, while operating income totalled $33.7 million compared to $29.1 million in Q1 2006.

Industrial sales grew by 9.9% for the quarter to $120.2 million led by growth in revenues from wind energy applications and increased demand for ballistic reinforcement fabrics used in the production of soft body armour.

“The quarter was a good start to the year for Hexcel despite the significant impact of the A380 delay,” comments Dave Berges, CEO of Hexcel, based in Stamford, Connecticut, USA. “Space & Defense revenues rebounded even more strongly than anticipated with revenues up 16.6% (14.6% in constant currency). Commercial Aerospace sales growth was in line with our expectations and reflected solid growth from Boeing and their subcontractors, as well as from sales to regional aircraft, engines and nacelle applications.”   

Hexcel; www.hexcel.com

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