Net income for the 2011 fourth quarter was $39.5 million, compared to $22.9 million in 2010.
“This was another strong quarter that completed a very good year for Hexcel," said David Berges, Hexcel CEO.
"Revenues from the commercial aerospace market, now nearly 60% of our total sales, grew 21% this quarter compared to the prior year,” he added.
Commercial Aerospace
Sales in Hexcel's Commercial Aerospace business reached $210.7 million for the fourth quarter of 2011.
Revenues attributed to new aircraft programmes (A380, A350, B787, B747-8) increased more than 20% versus the same period last year and continue to comprise more than 25% of Commercial Aerospace sales.
Sales to the Other Commercial Aerospace segment, which includes regional and business aircraft customers, were up over 30% for the fourth quarter 2011 compared to 2010.
For the full year 2011, Commercial Aerospace sales were up 27.1% in constant currency. Combined sales to Airbus and Boeing and their subcontractors accounted for 82% of sales.
Space & Defense
Space & Defense sales of $77.1 million were 8.4% lower for the 2011 quarter than the record fourth quarter of 2010, primarily because of the timing of shipments. For the year, Space & Defense sales were up 2% in constant currency over 2010.
Industrial
Total sales for Hexcel's Industrial business were $67.5 million for the fourth quarter of 2011, 28.1% higher than the fourth quarter of 2010.
Sales to the wind energy market were up significantly from the weak fourth quarter of 2010, Hexcel notes. For the year, wind energy sales were up more than 15% in constant currency and grew sequentially in each of the four quarters.
2012 outlook
Hexcel reaffirms its 2012 outlook, previously issued in December 2011, of sales in the range of $1500-1600 million.
Hexcel Corporation, headquartered in Stamford, Connecticut, USA, manufactures advanced composite materials, including carbon fibres, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures.
