UPDATE 1-Hexcel Q1 results top Wall Street view

Mon Apr 26, 2010 4:39pm EDT

* $0.15/shr vs est. $0.11/shr

* Rev down 14 pct at $263 mln

* Airbus, Boeing-related sales up 10 pct

April 26 (Reuters) - Hexcel Corp (HXL.N), a maker of structural materials for the aerospace industry, posted better-than-expected quarterly results, helped by an increase in airbus and Boeing-related sales.

For the first quarter, the company posted earnings of $15.8 million, or 16 cents a share, compared with $23.4 million or 24 cents a share a year earlier.

Excluding certain items, earnings was 15 cents a share.

Revenue fell 14 percent to $263 million.

Analysts on average were expecting earnings of 11 cents a share, on revenue of $259 million, according to Thomson Reuters I/B/E/S.

The company, which supplies composite materials to Boeing <BA.N<, said commercial aerospace sales of $152.0 million fell just 1.2 percent, compared with the same period last year.

"Airbus and Boeing-related sales were up over 10 percent, led by Boeing due to the B787 and last year's strike-effected first quarter," the company said in a statement.

Shares of the Stamford, Connecticut-based company closed at $14.64 Monday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore; Editing by Don Sebastian)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.