Cabot reports 56% sequential growth in CMP copper slurry sales during quarter
Semiconductor Business News
(10/25/01 11:05 a.m. EST)
AURORA, Ill.--Cabot Microelectronics Corp. here today reported sequentially flat revenues at $51.4 million in the company's fiscal fourth quarter, ended Sept. 30, compared to results from the prior three-month period. Compared to a year ago, revenues were down 8.5%, said the supplier of slurries for chemical mechanical planaraization (CMP) processes.
The company's net income was $9.2 million in the fiscal fourth quarter, which was up 4.1% from the prior fiscal third quarter but down 14.4% from the period last year.
"Our fourth quarter results benefited from copper product revenues, which grew 56% sequentially from the third quarter and 2.5 times on a full year over year basis," said Matthew Neville, chairman, president and CEO of Cabot Microelectronics. "This demonstrates the continued technology advancements being made by our customers, through device feature shrinks and the adoption of copper wiring, notwithstanding the present severity of the semiconductor industry downturn."
For the entire fiscal 2001 year, ended Sept. 30, Cabot Microelectronics posted revenues of $227.2 million, an increase of 25.8% compared with pro forma revenues of $180.6 million last year. Net income for the fiscal year was $41.9 million vs. $29.4 million in the 2000 year. |
