Cabot Microelectronics' sales and earnings increase

Cabot Microelectronics (Aurora, IL) says net income was $11.6 million for the fiscal fourth quarter, ended 30 September, up 24% year-on-year (YOY) due to lower revenue and a higher tax rate—offset by a higher gross profit margin. Sales were $110.6 million, a 0.8% increase YOY. Adjusted earnings per share hit 49 cts, up 22% and lower than analyst estimates of 58 cts/share, according to Thompson Reuters (New York). "While faced with challenging macroeconomic and semiconductor industry environments during the year, we grew our pads...

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