Hexcel Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net sales of $426.8 million against $387.3 million a year ago. Operating income was $67.0 million against $54.3 million a year ago. Income before income taxes and equity in earnings from affiliated companies was $65.4 million against $52.5 million a year ago. Net income was $47.1 million or $0.46 per diluted share against $36.9 million or $0.36 per diluted share a year ago. Adjusted operating income was $67.8 million against $54.3 million a year ago. Adjusted EBITDA was $87.8 million against $71.2 million a year ago. Adjusted net income was $47.1 million or $0.46 per diluted share against $36.9 million or $0.36 per diluted share a year ago.

For the year, the company reported net sales of $1,678.2 million against $1,578.2 million a year ago. Operating income was $270.9 million against $248.8 million a year ago. Income before income taxes and equity in earnings from affiliated companies was $262.6 million against $237.7 million a year ago. Net income was $187.9 million or $1.84 per diluted share against $164.3 million or $1.61 per diluted share a year ago. Net cash provided by operating activities was $272.9 million against $232.4 million a year ago. Capital expenditures and deposits for capital purchases was $194.9 million against $263.7 million a year ago. Adjusted operating income was $270.9 million against $239.3 million a year ago. Adjusted EBITDA was 349.2 million against $312.3 million a year ago. Adjusted net income was $188.5 million or $1.85 per diluted share against $159.0 million or $1.56 per diluted share a year ago.

The company reaffirmed 2014 outlook of sales of $1,800 to $1,880 million, adjusted diluted earnings per share of $2.00 to $2.12, free cash flow of $25 to $75 million, with the typical use of cash in the first quarter and accrual basis capital expenditures of $225 to $250 million.