Cabot reports record revenue in fiscal year 4Q

AURORA - Cabot Microelectronics Corpo. reported record fourth quarter revenues for fiscal year 2015 as the company's slurries for polishing tungsten were in demand.

Total revenue for the quarter was $100.1 million, which helped it achieved a gross profit margin of 52 percent of revenue, an increase of 290 basis points over the same quarter last year.

For the fiscal year, company revenues were $414.1 million. The annual revenue from tungsten slurries grew 10.3 percent year-over-year. The company achieved a gross profit margin of 51.3 percent of revenue, or 350 basis points higher than last year.

"We are pleased with our strong financial performance for the full fiscal year, within a challenging industry environment," said Cabot Microelectronics President and CEO David Li. "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 3-D 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.," Li added.

Li added the company's recent acquisition of CMP pad solutions company NexPlanar Corp. will expand Cabot's portfolio for its global clients.

"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," he said.