ERJ staff report (DS)
Boston, Massachusetts - Cabot Corp reported significantly higher sales in the three months to 31 December 2011, but profits fell. In the core segment for rubber blacks, the company said profits (EBIT) increased by $18 million compared with the same period a year ago, despite a volume decrease of 9 percent. The revenue increase was due to higher prices.
Corporate revenues increased to $762 million (from $694 million a year earlier) while income from continuing operations fell to $40 million from $64 million.
In the core segment, revenues increased to $489 million, up from $438 million a year earlier. Earnings (EBIT) increased to $55 million from $37 millino a year earlier.
Global and regional volume changes for the Core Segment for the first quarter of fiscal 2012 saw volume increases of 1 percent in China and 2 percent in Japan, but declines in every other region; notably a decline of 20 percent in EMEA and 15 percent in South East Asia.
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Press release from Cabot Corp.