Hexcel Second-Quarter Earnings nearly Quadrupled


Hexcel Corp., manufacturer of composite materials for aircraft parts, announced that their second-quarter earnings nearly quadrupled due to strong commercial aerospace sales and good overhead control.

Net income after paying $2.3 million in preferred dividends surged to $23.9 million, or 28 cents per share, from $5.7 million, or 10 cents per share, a year ago.

Sales rose 14.4 percent to $311.3 million from $272.2 million last year, with commercial aerospace revenue up 25.6 percent.

Gross margin improved ever so slightly to 22.7 percent from 22.6 percent a year ago.