Cabot Corporation (NYSE: CBT) today announced results for its fourth quarter and full fiscal year 2012.
- Strong fiscal year-over-year performance continues with 37% adjusted EPS improvement
- Value pricing drives 16% improvement in fiscal year Total Segment EBIT despite lower volumes
- Integration of Norit proceeding well
- Macroeconomic environment remains challenging
|(In millions, except per share amounts)||Fiscal 2012||Fiscal 2011|
|Fourth Quarter||Full Year||Fourth Quarter||Full Year|
|Net income attributable to Cabot Corporation||$||37||$||389||$||50||$||236|
|Net earnings per share attributable to Cabot Corporation||$||0.58||$||6.01||$||0.76||$||3.57|
|Net income per share from discontinued operations||$||0.02||$||3.16||$||0.12||$||0.80|
|Certain items per share||$||(0.19||)||$||(0.49||)||$||0.09||$||0.34|
Commenting on the results, Patrick Prevost, Cabot’s President and CEO, said, “In 2012, we continued our transformation to a higher margin, specialty chemicals focused company, delivering adjusted EPS of $3.34 and a 16% Total Segment EBIT improvement. We delivered a record $508 million of adjusted EBITDA in fiscal 2012, despite a challenging economic environment. We achieved this performance with our ongoing focus on value pricing, operational efficiency and improvement in our product mix. We completed strategic capacity expansions in Reinforcement Materials, Performance Materials and Advanced Technologies and launched a number of innovative new products to the market. In addition, we transformed our portfolio of businesses with the acquisition of Norit, a global leader in purification solutions, and the divestiture of the tantalum business. We are well positioned for the future with an attractive group of leading businesses.”
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