Cabot Microelectronics (CCMP) Tops Q4 EPS by 3c

Cabot Microelectronics (NASDAQ: CCMP) reported Q4 EPS of $0.50, $0.03 better than the analyst estimate of $0.47. Revenue for the quarter came in at $100.1 million versus the consensus estimate of $98.17 million.

“We are pleased with our strong financial performance for the full fiscal year, within a challenging industry environment,” said David Li, President and CEO of Cabot Microelectronics. “This fiscal year was highlighted by record revenue from our slurries for polishing tungsten, as we have been working closely with our strategic customers to support their transitions to FinFET and 3D memory. In addition, we focused on the broad transformation of our slurries for dielectrics applications, as we advanced the commercialization of a new family of much higher performing solutions, which we believe will contribute to future profitable growth for our company. The successful execution of our business initiatives enabled us to expand our gross margin percentage to its highest level since 2002, and achieve a record level of profit for our company, representing 11 percent earnings growth compared to the prior year.”

Mr. Li continued, “Further, we are delighted to have completed our acquisition of NexPlanar, which expands our pad product offerings with complementary technology that has been adopted in advanced applications by technology leading customers. By delivering a broader range of innovative, high-quality, high-performing and reliable CMP solutions, including performance-differentiated slurry and pad consumable sets, we believe we can better meet the needs of our customers around the world, and fuel continued profitable growth for our company. Over the next several months, we will be integrating NexPlanar with our CMP consumables business, with a focus on leveraging our extensive global infrastructure, including our direct sales channel, supply chain capabilities and quality systems, to speed adoption of NexPlanar products. Based on our achievements in fiscal 2015 to strengthen and grow our CMP consumables business, along with our very recent acquisition of NexPlanar, I am confident we are entering fiscal 2016 as a stronger company.”

For earnings history and earnings-related data on Cabot Microelectronics (CCMP) click here.

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