Hexcel Corporation (NYSE:HXL) on Monday reported results for the third quarter of 2014.
Net sales during the quarter were $451.9 million, 9.6 percent higher than the $412.3 million reported for the third quarter of 2013. Operating income for the period was $79.0 million, compared to $69.0 million last year. Net income for the third quarter of 2014 was $55.8 million, or $0.57 per diluted share, compared to $48.7 million or $0.48 per diluted share in 2013.
"This was another record quarter for Hexcel, as continued solid execution combined with strong commercial aerospace sales enabled us to deliver the highest adjusted operating income percentage and net income in our history," Hexcel CEO and President Nick Stanage said.
Year-to-date sales were up 10.6 percent over last year to $1.4 billion.
Total Industrial sales of $66.9 million were 19.7 percent higher than the third quarter of 2013.Commercial Aerospace sales of $296.5 million increased 13.2 percent. Space & Defense sales of $88.5 million decreased 6.3 percent.