STAMFORD, Conn. (AP) _ Hexcel Corp. (HXL) on Monday reported a fourth-quarter loss of $19.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 23 cents. Losses, adjusted for non-recurring costs, were 18 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for a loss of 18 cents per share.
The maker of lightweight composite materials posted revenue of $295.8 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $296.9 million.
For the year, the company reported profit of $31.7 million, or 38 cents per share. Revenue was reported as $1.5 billion.
Hexcel shares have declined 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $47.05, a drop of 37% in the last 12 months.