Cabot Micro earnings decline 6.7%

Cabot Microelectronics today reported fiscal first-quarter earnings of $9.7 million, down 6.7% from the year-ago period, on sales up 4.3% year-on-year (YOY), to $106.5 million. Earnings totaled 41 cts/share, short of analysts’ consensus of 43 cts/share, as reported by Thomson Reuters (New York). The company’s fiscal first-quarter ended on 31 December.   Earnings fell primarily due to a $1.7 million adverse tax adjustment related to a facility in Korea that opened in 2011, Cabot Microelectronics says. That was offset by higher revenue and lower...

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