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Cabot Micro earnings rise but miss estimates

9:59 AM MDT | April 25, 2013 | Vincent Valk

Cabot Microelectronics net income rose 70.9% year-on-year (YOY) to $9.4 million, or 40 cts/share, on revenues up 1.1%, to $100.4 million. Higher revenue from the dielectrics and copper and chemical mechanical planarization (CMP) slurry businesses drove the increase in sales, while higher profit margins led to a rise in net income. Revenue from all other businesses declined, the company says, due to weak demand in the semiconductor market. Earnings fell short of analysts’ consensus of 45 cts/share, as reported by Thomson Reuters (New York).   "We...

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