WASHINGTON (dpa-AFX) - Hexcel Corp. (HXL) Monday reported an increase in profit for the second quarter, helped mainly by higher revenues. The company also re-affirmed its fiscal year 2012 guidance.
Net income for the quarter increased to $48.0 million or $0.47 per share from $37.4 million or $0.37 per share in the prior-year quarter.
Adjusted earnings were $42.7 million or $0.42 per share, compared to $31.9 million or $0.32 per share last year.
On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.
Second-quarter revenues totaled $399.2 million, up 12.9 percent from $353.7 million last year. Analysts expected revenues of $403.89 million.
Looking ahead to the fiscal year 2012, the company re-affirmed its earnings guidance range of $1.45 to $1.55 per share. Revenues are forecast in the range of $1.55 billion to $1.65 billion.
Analysts currently expect the company to report full-year earnings of $1.54 per share on revenues of $1.61 billion.
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