ERJ staff report (LMH)
Boston, Massachusetts - Carbon black and speciality chemical company Cabot Corp. has reported full year earnings (EBITDA) of $508 million, an increase of 16% year-on-year, despite lower volumes.
For the fiscal year ended the 30 Sept 2012, Cabot said sales were $3.3 billion up from $3.1 billion in 2011. Fourth-quarter sales were $389 million up from $236 million in 2011.
Sales in the rubber blacks business were $227 million, up from $183 million in 2011.
Cabot also reported a 37% improvement in adjusted earnings-per-share, which reached $3.34 up from $2.43 the previous year.
Commenting on the outlook for the company, Patrick Prevost, Cabot's President and
CEO, said, â€œDue to the uncertainty in the global economy, we are cautious about the near term as we expect a man to remain soft at least through calendar year 2012. Due to the non-discretionary nature of the products we sell, we anticipate a man to recover in 2013.â€
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Press release from Cabot