Cabot Microelectronics (CCMP) Lowers Q2 Outlook; Sees Improvement in H212
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Price: $173.69 --0%
Financial Fact:
Total operating expenses: 35.35M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 35.35M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Cabot Microelectronics Corporation (Nasdaq: CCMP), sees Q2 revs of $99 million and EPS of 23 cents. EPS includes the adverse impact of approximately $0.12 related to the increase in the reserve for bad debt expense and the costs related to the leveraged recapitalization with a special cash dividend.
The company previously saw EPS of 45 cents.
The Street is looking for revs of $104.5 million and EPS of 51 cents.
"While our financial performance for the quarter is lower than we would have liked, we believe our business remains strong and we continue to expect demand for our CMP products to increase in the second half of our fiscal year with anticipated strengthening in demand within the overall semiconductor industry. While our visibility is limited, orders to date in the month of April for our CMP consumables products appear to indicate that the anticipated increase in demand has begun," said William Noglows, Chairman and CEO of Cabot Microelectronics. "We are pleased that revenue from our CMP polishing pads business increased by almost 15 percent during the second fiscal quarter. In addition, we are delighted to have recently been awarded Intel's Preferred Quality Supplier award for 2011, which we believe is a reflection of our ongoing commitment and ability to consistently deliver reliable, high quality, innovative solutions to our customers."
The company previously saw EPS of 45 cents.
The Street is looking for revs of $104.5 million and EPS of 51 cents.
"While our financial performance for the quarter is lower than we would have liked, we believe our business remains strong and we continue to expect demand for our CMP products to increase in the second half of our fiscal year with anticipated strengthening in demand within the overall semiconductor industry. While our visibility is limited, orders to date in the month of April for our CMP consumables products appear to indicate that the anticipated increase in demand has begun," said William Noglows, Chairman and CEO of Cabot Microelectronics. "We are pleased that revenue from our CMP polishing pads business increased by almost 15 percent during the second fiscal quarter. In addition, we are delighted to have recently been awarded Intel's Preferred Quality Supplier award for 2011, which we believe is a reflection of our ongoing commitment and ability to consistently deliver reliable, high quality, innovative solutions to our customers."
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