30 July 2010
Global performance materials and speciality chemicals company Cabot Corporation’s net sales climbed 32 percent in the financial quarter ended 30 June.
In third quarter results – Cabot’s fiscal year runs from October to September – the company reported net sales of $753 million, up from $511 million last year.
Total business profit increased $72 million from the same quarter last year, and $22 million sequentially as “all business performed at a high level”.
Revenues in the new business segment for the third quarter increased by $11 million compared to the same period last year. Operating profits in this segment illustrated a $4 million improvement.
Cabot put this rise down to “improved revenues in the Inkjet Colorants and Aerogel businesses”.
President and CEO Patrick Prevost said: “We are very pleased to report our best ever adjusted EPS quarter. Our results over the past three quarters put us solidly on the path of achieving our long-term financial targets.
“Market demand remained solid across all geographies and the investments we have made to leverage an economic recovery are paying off.
“Our leading market positions in the fastest growing regions of the world and our multiple efforts over the past eighteen months to increase the efficiency of our global operating network are contributing positively to our results.
“The continuing focus on our highest value new business opportunities is yielding steady revenue growth and improving financial performance.”