Cabot Updates Fourth Quarter EPS to $0.40 From $0.35 and Fiscal Year EPS to $1.14 From $1.10
Cabot Updates Fourth Quarter EPS to $0.40 From $0.35 and Fiscal Year EPS to $1.14 From $1.10
December 16, 2003
BOSTON, MA (December 16, 2003) - Cabot Corporation (CBT/NYSE) today announced that its earnings for the fourth quarter ended September 30, 2003, were $28 million ($0.40 per diluted common share) rather than $25 million ($0.35 per diluted common share) as previously reported. For the fiscal year ended September 30, 2003, the Company earned $80 million ($1.14 per diluted common share) compared with $77 million ($1.10 per diluted common share) as previously reported. The increase to earnings was the result of an adjustment for the foreign currency revaluation of a previously recorded tax liability and the recognition of a prepaid pension asset for a foreign pension plan. These adjustments do not impact segment operating profit before tax.
Cabot Corporation is a global specialty chemicals company headquartered in Boston, MA. Cabot's major products are carbon black, fumed silica, inkjet colorants, capacitor materials, and cesium formate drilling fluids.