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HEXCEL REPORTS 2002 FIRST QUARTER RESULTS.
Advanced Materials & Composites News, May, 2002
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First Quarter, 2002 Highlights: * Adjusted EBITDA improves to $25.8 million compared to $19.9 million in the Fourth Quarter, 2001 despite $17.0 million sales decline. * Gross margin improves to 17.8% of net sales from 14.7% in the Fourth Quarter, 2001. * Total employment reduced by a further 10% in the quarter as business restructuring and fixed cost reduction program proceeds as planned.
* Net debt increases by only $13.4 million to $687.7 million in the quarter. Cash restructuring costs were $9.4 million. Hexcel Corporation (NYSE/PCX: HXL) reported results for the ...
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