CMC Materials reports record revenue

AURORA - CMC Materials Inc. Thursday reported record revenues of $309.5 million in its fiscal year third quarter, an increase of 12.7% compared to the same period in 2020.

The increase was driven by continued robust demand in the company's Electronic Materials segment, which represents more than 80% of CMS's revenue. The Aurora-based company is a global supplier of materials primarily to semiconductor manufacturers.

"Our CMC Materials team delivered another quarter of solid results, posting record revenue. Within Electronic Materials, we are particularly proud of the execution from our CMP (chemical mechanical planarization) pads and electronic chemicals businesses. We are also encouraged by the improvement in our pipeline and industrial materials business," said David Li, president and CEO.

The company's 2021 fiscal year third quarter ended June 30.

Net income was $33.6 million compared to $34.5 million in the prior year. Year to date, the company generated $179.8 million in cash flow from operations, and $263.0 million in the last 12 months, CMC said.