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Cabot Reports Loss on Weak Demand

9:51 AM MDT | April 30, 2009 | Vincent Valk

Cabot reported a loss of $56 million for the second-quarter, or 90 cts/share, compared to income of $11 million, or 17 cts/share, in the year-ago period. Excluding restructuring charges, the loss for the quarter amounted to 27 cts/share. The company cited “lower volumes from weak demand” in its rubber blacks, supermetals and performance businesses as the driver of the loss. Sales declined to $470 million, compared to $786 million in the year-ago period. For the first six months of 2009, sales totaled $1.1 billion, compared to $1.5 billion during the...

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