07 August 2012
07 August 2012
Hexcel customer CORIMA, manufacturer of carbon fibre bike wheels for road racing, was one of the technology players in this year’s Tour de France, supplying the ASTANA and SOJASUN teams.
Hexcel said “We were delighted to see Corima’s CHRONO wheels, made with Hexcel’s HexPly prepregs and Primetex 12K carbon fibre reinforcements, performing so well on the Tour de France roads.”
Hexcel says its PrimeTex technology allows light fabrics to be woven from higher K tow fibres (with weights as low as 200gsm possible using 12K fibre) while maintaining perfect quality and uniformity of reinforcement. It explains that the HexPly range of industrial resins enables the twin objectives of “industrial processability” (competitive and efficient cure cycles) and high performance to be achieved, meeting the high demands to which a wheel is subjected during the Tour de France challenge.
In further news, Hexcel has reported results for the second quarter of 2012. Net sales during the quarter were $399.2 million, 12.9% higher than the $353.7 million reported for the second quarter of 2011. Operating income for the period was $73.9 million, compared to $49.4 million last year. Net income for the second quarter of 2012 was $48.0 million, or $0.47 per diluted share, compared to $37.4 million or $0.37 per diluted share in 2011. Excluding the impact of items in Table C, adjusted diluted net income for the second quarter of 2012 was $0.42 per share compared to $0.32 per share in 2011.
David Berges, Hexcel Chairman and CEO, commented, “This was another strong quarter for Hexcel, as solid execution combined with increased sales to yield excellent results. For the quarter, our adjusted diluted EPS of $0.42 was 31% higher than last year, on a 16% increase in constant currency sales. We are also particularly pleased that our adjusted operating income was 16.1% of net sales for the quarter, over 200 basis points better than last year.”
Looking ahead, Mr. Berges said, “Historically, seasonal effects result in slightly lower second half margins, but this strong first half of the year gives us confidence to reaffirm our 2012 guidance despite global economic concerns. While we were certainly helped by the revenue growth, our operational execution truly stands out in our first half as we delivered over 26% incremental operating income on the growth after excluding the benefits of the strong dollar.”