Cabot Microelectronics reports record 4Q revenues

AURORA - Cabot Microelectronics Corp. reported a 22.5 percent increase in revenue for the fourth quarter of fiscal year 2016 amid strength from all of the company's products,

The supplier of chemical mechanical planarization polishing slurries and CMP pads to the semiconductor industry said total revenue during the quarter was $122.7 million, a record level for the company. The company achieved year-over-year revenue growth in all of its major product areas and record quarterly revenue in its tungsten slurry, pads and engineered surface finishes products.

The CMP pads benefited from the October 2015 acquisition of NexPlanar Corp.

For the full fiscal year, the company generated revenue of $430.4 million, 3.9 percent higher than last year, including record annual revenue in its tungsten slurry and pads products.

"We are very pleased with our performance in the fourth quarter of our fiscal year, as we achieved record levels of revenue and profit," said David Li, president and CEO of Cabot Microelectronics. "Further, continued successful execution of our strategic initiatives, along with stronger industry demand in the second half of the fiscal year, enabled us to grow revenue for the full fiscal year by four percent, and achieve a record level of profit for our company, representing approximately eight percent earnings growth compared to the prior year."

Li added he is confident that the company will continue to growth in fiscal year 2017 given its strong momentum.