This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cabot Microelectronics Corporation Reports Results For Second Quarter Of Fiscal 2013

  • Revenue of $100.4 Million
  • Gross Profit Margin of 48.2 Percent of Revenue, Up 210 Basis Points Year-Over-Year
  • Earnings Per Share of 40 Cents
  • Received Supplier Awards from Intel and Texas Instruments

AURORA, Ill., April 25, 2013 (GLOBE NEWSWIRE) -- Cabot Microelectronics Corporation (Nasdaq:CCMP), the world's leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, today reported financial results for its second quarter of fiscal 2013, which ended March 31, 2013.

Total revenue during the second fiscal quarter was $100.4 million. This reflects an increase of 1.1 percent compared to the same quarter last year despite continued softness in demand within the semiconductor industry and traditional seasonal weakness typically experienced by the company during its second fiscal quarter. The company achieved a gross profit margin of 48.2 percent of revenue in the second fiscal quarter, which represents increases of 210 and 120 basis points on year-over-year and sequential bases, respectively. Diluted earnings per share were $0.40, compared to $0.23 in the same quarter last year which included the impact of approximately $0.12 due to certain adverse items recorded during the prior year quarter. The company's balance sheet reflects a cash balance of $188.4 million, $18.7 million higher than in the prior quarter, and $168.4 million of debt outstanding as of March 31, 2013.

"We are pleased with our financial performance this quarter in light of continued soft demand within the semiconductor industry, along with traditional seasonal weakness," said William Noglows, Chairman and CEO of Cabot Microelectronics. "As highlighted by our performance, we continue to demonstrate our ability to successfully manage our business over a range of industry conditions. Our strong financial position allows us to continue to invest in technology innovation in CMP consumables to meet the evolving and demanding needs of our customers, and to respond quickly when industry demand strengthens."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs