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Cabot Microelectronics profits surge past estimates

1:49 PM MDT | October 29, 2013 | Rebecca Coons

Cabot Microelectronics Corp. (CMC),  a leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, reports fourth-quarter profits 44.1% higher year-on-year, to $16.8 million, on "solid demand" for its products. Excluding one-time items, earnings increased 42.9%, to 70 cts/share, and beat analysts' estimates by 10 cts, according to a consensus compiled by Thomson Reuters (New York). Sales increased 5.1%, to 116.3 million. Fourth-quarter gross profit, expressed as a...

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