FY15 net income rises 13.3% at Hexcel Corporation

Diluted net income per share for fiscal 2015 was $2.44, a rise of 15.1 per cent as compared to $2.12 last fiscal. Operating income for this period was $332.4 million, a rise of 8.7 per cent as compared to $305.8 million in previous fiscal.

Adjusted net income for this period was reported to be $225.6 million as compared to $213.6 million in previous fiscal. Adjusted diluted net income per share for fiscal 2015 was $2.32 as compared to $2.16 last fiscal.

The company reported net sales of $1,861.2 million in fiscal 2015 as compared to $1,855.5 million in fiscal 2014.

Commenting on the strong results for fiscal 2015, Nick Stanage, president, CEO and chairman of Hexcel said, “Hexcel delivered another strong quarter to end the year with record sales, operating income and margin, net income and EPS. We are particularly pleased that our operations generated $301 million of cash in 2015, which funded capital expenditures for continued capacity expansion to support our strong growth.”

“As outlined in our 2016 guidance, we are expecting 8.5 per cent sales growth this year. The company's focus in 2016 remains driving manufacturing throughput, capacity expansion and superior execution for the substantial production ramp up of new programmes, led by commercial aerospace,” he added.

The company's board of directors have declared a regular quarterly cash dividend of $0.10 per share on the common stock of Hexcel, payable on February 12, 2016 to shareholders of record as of February 5, 2016. (MCJ)

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