Cabot Microelectronics Corporation (CCMP) Releases Earnings Results, Beats Expectations By $0.23 EPS

Cabot Microelectronics Corporation (CCMP) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.79 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.23. Analysts had a consensus of $0.56. The company posted revenue of $108.10 million in the period, compared to analysts expectations of $106.73 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Cabot Microelectronics Corporation opened for trading at $49.49 and hit $50.98 on the upside on Thursday, eventually ending the session at $50.16, with a gain of 6.88% or 3.23 points. The heightened volatility saw the trading volume jump to 6,21,951 shares. Company has a market cap of $1,206 M.

In a different news, on Jun 15, 2016, Lisa A Polezoes (VP, Human Resources) sold 2,834 shares at $43.27 per share price. According to the SEC, on Feb 10, 2016, Edward J Mooney (director) sold 8,819 shares at $38.24 per share price. On Dec 2, 2015, William S Johnson (Executive Vice President, CFO) sold 20,672 shares at $41.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry in a process called chemical mechanical planarization (CMP). The Company is into the development manufacture and sale of CMP consumables products. It also develops produces and sells CMP slurries for polishing many of the conducting insulating and isolating materials used in IC devices and also for polishing the disk substrates and magnetic heads used in hard disk drives. The Company also develops manufactures and sells CMP polishing pads which are used in conjunction with slurries in the CMP process.

Cabot Microelectronics Corporation

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