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Hexcel Corp. Message Board

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  • winmore_98 winmore_98 Nov 19, 1998 11:26 AM Flag

    Does anyone know what acquisition of CIB

    Here is how I read the report:
    Hexcel
    continued to benefit from strong commercial aerospace and
    space and defense markets as sales, adjusted operating
    income and adjusted EBITDA all reached record levels for
    the Company's third quarter. Excluding
    acquisition-related charges and other nonrecurring items, adjusted
    earnings per share for the third quarter of 1998 increased
    23% to $0.32 per diluted share, from $0.26 per share,
    for the same period in 1997...the Company also
    expects a reduction in its previously anticipated capital
    expenditures related to its existing fabrics
    operations....initiatives are expected to generate increasingly significant
    improvements in the Company's operating cost structure in 1999
    and thereafter...the Company will continue to focus
    on its goal of generating $100 million in free cash
    flow in the fifteen month period ending December,
    1999. This free cash flow will be used to repay debt
    and, following German regulatory approval, to fund
    expenditures related to the acquisition of the equity
    interests in CS-Interglas...backlog for aerospace materials
    was $384.9 million as of September 30, 1998, a 19%
    decrease over backlog as of December 31, 1997 and a 13%
    decrease over backlog as of September 30, 1997. The
    decrease in backlog probably reflects a number of factors,
    including a continuing trend toward shorter lead times and
    better supply-chain management by the industry overall.
    In the light of changing conditions in the aerospace
    industry, twelve month backlog information may no longer be
    a material trend indicator.
    I say, so the talk
    about order cancellations is really a non-factor to
    investors but sounds bad to short term traders. This gives
    us another opportunity to buy more stock at lower
    prices today.

 
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