Net income for the second quarter of 2012 was $48.0 million, compared to $37.4 million in 2011.
Commercial Aerospace
Hexcel reports says for its Commercial Aerospace business of $233.5 million for the 2012 second quarter, up 12.4% on the second quarter of 2011. Combined revenues attributed to new aircraft programs (A380, A350, B787, B747-8) increased over 30% versus the same period last year and now comprise about 30% of Commercial Aerospace sales.
Sales for Airbus and Boeing legacy aircraft were up modestly compared to the second quarter of 2011, but lower than the first quarter of 2012.
Sales to 'Other Commercial Aerospace,' which include regional and business aircraft customers, were up over 10% compared to the same period last year, but down slightly from the first quarter of 2012.
Space & Defense
Space & Defense sales of $88.1 million were 7.8% higher than the second quarter of 2011. Hexcel says it continues to benefit from rotorcraft growth.
Industrial
Total sales in Hexcel's Industrial business of $77.6 million for the second quarter of 2012 were 20.9% higher than the second quarter of 2011. Sales to the wind energy sector were up significantly from last year’s second quarter and have now grown sequentially for the last six quarters.
2012 Outlook
Hexcel reaffirms its 2012 outlook for sales to be in the range of $1.55-1.65 billion.
