Cabot Microelectronics Corp. Earnings Decline 43% In Q1

(RTTNews) - Cabot Microelectronics Corp. (CCMP) revealed a profit for first quarter that dropped from last year.

The company said its earnings declined to $11.31 million, or $0.46 per share. This was down from $19.92 million, or $0.80 per share, in last year's first quarter.

Analysts had expected the company to earn $0.47 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.3% to $100.37 million. This was down from $111.93 million last year.

Cabot Microelectronics Corp. earnings at a glance:

-Earnings (Q1): $11.31 Mln. vs. $19.92 Mln. last year. -Earnings Decline (Y-o-Y): -43.2% -EPS (Q1): $0.46 vs. $0.80 last year. -EPS Decline (Y-o-Y): -42.5% -Analysts Estimate: $0.47 -Revenue (Q1): $100.37 Mln vs. $111.93 Mln last year. -Revenue Change (Y-o-Y): -10.3%