Cabot Microelectronics (CCMP) - 500 Beiträge pro Seite

[panik]

Profile:Cabot Microelectronics Corporation is a supplier of high performance polishing slurries used in the manufacture of the most advanced integrated circuit (IC) devices, within a process called chemical mechanical planarization. The Company supplies slurries to IC device manufacturers worldwide. Most of the Company`s CMP slurries are used to polish insulating layers and the tungsten plugs that go through the insulating layers and connect the multiple wiring layers of IC devices. The Company is developing and selling new slurries used to polish copper, a new metal used in wiring layers of IC device fabrication. Also, the Company has developed and has begun sales of new CMP slurries designed for polishing several components in hard disk drives, specifically rigid disks and magnetic heads. In addition, the Company has recently begun producing and selling polishing pads used in the CMP process.

[panik]

http://www.cabotcmp.com/

[panik]

Press Releases 2001

03/13/01 - Cabot Microelectronics Corporations`s President and CEO, Matthew Neville, elected Chairman of the Board

03/12/01 - Cabot Microelectronics Updates Its Fiscal Second Quarter 2001 Outlook

03/07/01 - Cabot Microelectronics Unveils iCue™ Copper CMP Technology

03/06/01 - International Finance Veteran Martin M. Ellen Joins Cabot Microelectronics as Vice President and Chief Financial Officer

01/29/01 - Cabot Microelectronics Reports Record Revenue and Earnings for First Quarter Fiscal 2001

01/16/01 - Cabot Microelectronics to Release First Quarter Fiscal 2001 Financial Results on January 29, 2001

Press Releases 2000

12/05/00 - Cabot Microelectronics To Double Manufacturing Capacity At Facility In Geino, Japan

11/21/00 - William C. McCarthy To Retire As Vice President And Chief Financial Officer

11/14/00 - Cabot Microelectronics Appoints Carol Bernstein As Vice President, Secretary And General Counsel

11/13/00 - CMP Industry Veteran Kathleen Perry Joins Cabot Microelectronics As Vice President Of Research And Development

10/26/00 - Cabot Microelectronics Reports Record Revenue And Earnings For Fourth Quarter and Fiscal Year 2000

10/12/00 - Cabot Unveils Lustra™ 3010 Polishing Slurry

10/05/00 - Cabot Microelectronics Completes New U. S. Manufacturing Facility

07/25/00 – Cabot Microelectronics Reports Record Revenues and Earnings for Third Quarter FY2000

07/10/00 - Cabot Microelectronics Unveils New Dielectric Slurry That Enables A Ten-Fold Improvement In CMP Defectivity

04/26/00 - Cabot Microelectronics Reports Record Revenues and Earnings for Second Fiscal Quarter 2000


03/07/00 - Cabot MMD Appoints Gentner Global Director, SH&E

02/29/00 - Cabot MMD Appoints Polishing Pad Program Manager

02/23/00 - Cabot MMD Announces New Slurry Manufacturing Plant

02/14/00 - Cabot MMD Announces Plans For New Korean Facility
Press Releases 1999

12/01/99 - Cabot MMD Expands Manufacturing Capacity

09/21/99 - Cabot Debuts Lustra™ 2090 Rigid Disk Slurry

07/12/99 - Cabot MMD Introduces New Polysilicon Slurry

07/12/99 - Cabot Enters CMP Pad Market

06/30/99 - Cabot MMD Introduces New Tungsten CMP Slurry

04/13/99 - Cabot MMD to Expand Wales Manufacturing Facility

03/30/99 - Cabot MMD Appoints New CFO And Director Of Global Quality

02/19/99 - Industry Experts Participate In Cabot MMD’S "Copper Talk"

02/08/99 - Cabot MMD Appoints IBM Veteran To Head Dielectric Program

01/11/99 - Cabot MMD Opens New Manufacturing Facility In Japan

01/06/99 - Cabot MMD Names Jeremy Jones To Head Pad Polishing Business

[panik]

[panik]

Cabot Microelectronics Appoints Two Industry Veterans to Senior Management Team
AURORA, Ill.--(BUSINESS WIRE)--March 27, 2001--Cabot Microelectronics Corp. (Nasdaq: CCMP - news), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, announced today the appointment of two officers--Jeremy Jones has been named Vice President of New Business and Hiro Nishiya Vice President of Asia Pacific Business. Both positions report directly to Cabot Microelectronics` Chairman of the Board, President and CEO Matthew Neville.

``The pursuit of new business opportunities and continued support of the Asia Pacific Region are critical to our company`s growth,`` stated Dr. Neville. ``These promotions demonstrate our commitment to a strong, deep leadership team, and with Jeremy`s and Hiro`s help we are well positioned to move forward with our continued global expansion.``

Jones is chartered with leading Cabot Microelectronics` new business initiatives, including the identification, assessment and development of new opportunities to fuel the company`s aggressive growth plan. Jones joined Cabot Microelectronics in 1998 as the Pad Business Development Manager and led the company`s successful entry into the disk drive industry with polishing slurries for rigid disk substrates and other components used by disk drive manufacturers.

Previously, Jones served as the Market Development Manager of the Flat Panel Display Division at Motorola and led the development of several new businesses at Polaroid. He holds multiple degrees from Worcester Polytechnic Institute, including a Bachelor of Science in Mechanical Engineering and a Masters of Science in Materials Engineering. In addition, Jones holds a Masters in Business Administration from Babson College.

Hiro Nishiya will oversee Cabot Microelectronics` Japan, Korea, Taiwan, China and Southeast Asia business operations. He is responsible for developing and implementing a regional strategy that includes fulfilling the company`s international business goals, supported by the international manufacturing, engineering and technical support teams. Nishiya was most recently the Japan Business Manager at Cabot Microelectronics, where he built the organization necessary to meet the business needs of this critical region. In addition, he facilitated the establishment and expansion of the company`s Geino facility to support Asian customer-capacity demands.

Before joining Cabot Microelectronics in 1997, Nishiya held various positions at OKIDATA and Materials Research Corporation. Nishiya received a Bachelor of Business Administration degree from George Washington University.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics` global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

This news release may include statements that constitute ``forward-looking statements`` within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth, growth of this market, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics` filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, see ``Risks Related to our Business`` in Management`s Discussion and Analysis in our annual report on Form 10-K for the fiscal year ended September 30, 2000 filed with the SEC, and in our quarterly report on Form 10-Q for the quarter ended December 31, 2000. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information.


--------------------------------------------------------------------------------
Contact:

Company Contact:
Cabot Microelectronics Corporation
Rick Foster, 630/375-5541
OR
Agency Contact:
Edelman Public Relations
Cynthia Rogers, 312/233-1390
[e-mail]
Howard Karesh, 312/240-2724
[e-mail]

[panik]

Cabot Microelectronics Reports Results for Second Fiscal Quarter 2001
Second quarter revenue up 43% year over year Second quarter net income up 91% year over year
AURORA, Ill.--(BUSINESS WIRE)--April 26, 2001-- Cabot Microelectronics Corporation (Nasdaq:CCMP - news), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today reported results for its second fiscal quarter ended March 31, 2001.

Revenue for the quarter was $55.7 million, up 43%, compared to the prior-year results on a pro forma(1) basis. Net income was $9.4 million, up 91%, and diluted earnings per share were $0.39, up 86%, compared to prior-year pro forma results. Included in second quarter results is a $0.6 million reduction in cost of goods sold resulting from certain favorable inventory adjustments, which increased net income by $0.4 million ($0.02 per diluted share) in the quarter. Second quarter results also include a $0.9 million non-cash charge included in administrative expenses related to a stock option agreement, which decreased net income by $0.6 million ($0.02 per diluted share).

For the six-month fiscal period, revenues reached $124.3 million, an increase of 68% compared with pro forma revenues of $73.8 million in the same period last year. Net income for the six-month period was $23.8 million, up 147% and diluted earnings per share of $0.98 were up 139%, over the same period last year on a pro form basis.

``Our strong growth year over year in both revenue and earnings demonstrates the fundamental value and essential nature of CMP in advanced IC device manufacturing, and the continued penetration of advanced technology like copper, feature shrinks and 300 mm,`` stated Dr. Matthew Neville, Cabot Microelectronics` Chairman, President and CEO. ``However, as we indicated on March 12th, the significant inventory build of IC chips over the last several quarters and the weakening demand in most of the end market applications for electronic systems, compounded by the overall economic slowdown, has led to a rapid decline in semiconductor capacity utilization, capital spending and wafer starts, which has appeared most pronounced at semiconductor foundry manufacturers. The rapid and sudden decline in wafer starts of even the leading edge IC products has impacted our business. As a result, second quarter revenue was down 18.8% from our exceptionally strong 2001 first quarter, when we achieved record quarterly revenue of $68.6 million and net income of $14.4 million.

``Furthermore, we are unable to predict when the current industry situation will improve. Thus, it now does not appear likely that we will achieve our previous guidance for fiscal 2001 revenue growth of 50% or more, which was based on the assumptions we made earlier in the year about the rate of the burn off to normal levels of our customers` end market chip inventory and the overall economy. In response to the soft conditions we are experiencing, we have implemented more stringent spending controls and have postponed certain capacity-related capital investments. During this period, we will continue executing our strategies designed to enhance our market and technology leadership position so that we are able to emerge from this industry downturn with an even more compelling customer value proposition.

``We remain confident about our long-term growth prospects, in spite of the current challenges. The industry is continuing to invest in more advanced IC device manufacturing technology which involves smaller feature sizes, more layers, new materials and new processes. CMP is a critical value enhancer for our customers as they adopt these leading edge technologies. We also see potential growth of our customer base in pad, as well as rigid disk and magnetic head polishing technologies. Importantly, we continue to invest in all necessary research and development activities to maintain and enhance our industry technology leadership position,`` concluded Neville.

(1)Pro Forma Reporting
To provide a consistent basis of comparison with current year results, prior year historical financial results are presented together with prior year results on a pro forma basis. Pro forma adjustments have been made to present the results as they would have occurred if certain agreements entered into in connection with our separation from Cabot Corporation had been in place throughout the prior year. These pro forma adjustments reduced reported net income for the three and six month periods ended March 31, 2000 by $1.3 million and $2.3 million, respectively. Cabot Microelectronics Corporation operated as the Microelectronics Materials Division of Cabot Corporation prior to its initial public offering on April 4, 2000. The spin-off of Cabot Microelectronics Corporation from Cabot Corporation was completed on September 29, 2000. See the notes to the statements of income for a list of adjustments.

Conference Call

Cabot Microelectronics` quarterly earnings conference call will be held today at 11:00 a.m. Central Time. The live conference call and a subsequent replay will be available via Webcast at www.cabotcmp.com or www.streetfusion.com. For assistance, call 1-630-499-2600.

About Cabot Microelectronics

Cabot Microelectronics Corp., headquartered in Aurora, Ill., is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. These products enable IC manufacturers to make smaller, faster and more complex devices and improve their production processes. For more information on Cabot Microelectronics, visit www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

This news release may include statements that constitute ``forward-looking statements`` within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth, growth of this market, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics` filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, see ``Risks Related to our Business`` in Management`s Discussion and Analysis in our quarterly report on Form 10Q for the quarter ended December 31, 2000, and our Annual Report on Form 10K for the fiscal year ended September 30, 2000, both filed with the SEC. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information.


CABOT MICROELECTRONICS CORPORATION
PRO FORMA STATEMENTS OF INCOME
(Unaudited and in thousands, except per share amounts)

Three Months Six Months
Ended March 31 Ended March 31
2001 2000 2001 2000
---- ---- ---- ----
Revenue $55,695 $38,993 $124,311 $73,797
Cost of goods sold 25,923 21,195 58,486 38,567
------ ------ ------ ------
Gross profit 29,772 17,798 65,825 35,230
Operating expenses:
Research and development 6,805 4,729 13,343 9,305
Selling and marketing 2,249 1,675 4,518 3,032
General and
administrative 6,485 3,326 11,632 6,901
Amortization of goodwill
and other intangibles 180 180 359 360
---- ---- ---- ----
Total operating
expenses 15,719 9,910 29,852 19,598
------ ----- ------ ------
Operating income 14,053 7,888 35,973 15,632
Other income (expense) 238 (206) 675 (522)
---- ---- ---- ----
Income before
income taxes 14,291 7,682 36,648 15,110
Provision for income taxes 4,907 2,767 12,825 5,476
------ ----- ------ -----
Net income $9,384 $4,915 $23,823 $9,634
====== ====== ======= ======
Basic net income per share $0.39 $0.21 $1.00 $0.41
===== ===== ===== =====
Weighted average basic
shares outstanding 23,800 23,590 23,705 23,590
====== ====== ====== ======
Diluted net income
per share $0.39 $0.21 $0.98 $0.41
===== ===== ===== =====
Weighted average diluted
shares outstanding 24,328 23,590 24,223 23,590
====== ====== ====== ======

Notes to Pro Forma Unaudited Statements of Income

a. Certain amounts in the prior fiscal year have been reclassified to
conform with the current year presentation.

b. Pro forma results reflect the revenue and cost of goods sold which
would have resulted had our dispersions services agreement and
fumed metal oxide supply agreement with Cabot Corporation been in
effect. Also includes interest expense which would have been
incurred on the borrowings necessary to finance a dividend to
Cabot Corporation.

c. Pro forma basic and diluted net income per share for the three and
six months ended March 31, 2000 have been calculated using the
23,590 shares outstanding subsequent to the initial public
offering. Prior to the initial public offering 18,990 shares were
owned by Cabot Corporation.

CABOT MICROELECTRONICS CORPORATION
STATEMENTS OF INCOME
(Unaudited and in thousands, except per share amounts)

Three Months Six Months
Ended March 31 Ended March 31
2001 2000 2001 2000
---- ---- ---- ----
Revenue $55,695 $39,335 $124,311 $74,381
Cost of goods sold 25,923 19,815 58,486 36,125
------ ------ ------ ------
Gross profit 29,772 19,520 65,825 38,256
Operating expenses:
Research and development 6,805 4,729 13,343 9,305
Selling and marketing 2,249 1,675 4,518 3,032
General and
administrative 6,485 3,326 11,632 6,901
Amortization of goodwill
and other intangibles 180 180 359 360
------ ----- ----- -----
Total operating
expenses 15,719 9,910 29,852 19,598
------ ----- ------ ------
Operating income 14,053 9,610 35,973 18,658
Other income (expense) 238 107 675 107
----- ---- ----- -----
Income before
income taxes 14,291 9,717 36,648 18,765
Provision for income taxes 4,907 3,500 12,825 6,800
----- ----- ----- -----
Net income $9,384 $6,217 $23,823 $11,965
====== ====== ======= =======
Basic net income
per share $0.39 $0.33 $1.00 $0.63
====== ====== ======= =======

Weighted average basic
shares outstanding 23,800 18,990 23,705 18,990
====== ====== ====== ======
Diluted net income
per share $0.39 $0.33 $0.98 $0.63
====== ====== ====== ======
Weighted average diluted
shares outstanding 24,328 18,990 24,223 18,990
====== ====== ====== ======

Notes to Unaudited Statements of Income

a. Certain amounts in the prior fiscal year have been reclassified to
conform with the current year presentation.

b. Basic and diluted net income per share for the three and six
months ended March 31, 2000 have been calculated using the pro
forma 18,990 shares owned by Cabot Corporation for the period
prior to the initial public offering.

[panik]

Industry Veteran Joins Cabot Microelectronics as European Business Manager
AURORA, Ill.--(BUSINESS WIRE)--May 21, 2001--Cabot Microelectronics Corp. (NASDAQ: CCMP - news), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today announced the appointment of Jean-Pol Delrue to the position of European Regional Business Manager. He will be responsible for the company`s business in Europe. Mr. Delrue will be joining Cabot Microelectronics later next month.

``We are confident that Jean-Pol`s proven business leadership capabilities combined with a strong customer and market focused management approach will assist Cabot Microelectronics in achieving our objectives in Europe,`` stated Matthew Neville, Cabot Microelectronics` Chairman, President and CEO. ``Growth in the region has been significant as customers continue to invest in advanced semiconductor technology including device shrinks, implementation of copper interconnect and other new materials, and the deployment of 300mm wafers. All of these trends favor growth in our IC CMP business. Jean-Pol will play a pivotal role as we expand our product offering in the region to include pads as well as slurries.``

Mr. Delrue joins Cabot Microelectronics with more than 20 years of semiconductor materials and capital equipment business experience in the cross-cultural environments of Asia, North America and Europe. In his role at Cabot Microelectronics, Mr. Delrue will be responsible for the overall leadership of the company`s business initiatives in the European region including the development and implementation of a business strategy as well as customer and distributor relationship management.

Prior to joining Cabot Microelectronics, Mr. Delrue worked at Ebara Precision Machinery Europe, serving most recently as Vice President of CMP Europe. He is credited with generating new customer business and increasing the demand for such products as CMP polishing tools and dry-pump vacuum systems. Previously, he served as the Business and Technical Development Director and Member of the Management Board at Riber, a supplier of molecular beam epitaxial products and services to the compound semiconductor industry. Mr. Delrue is an expert in the chemistry of semiconductors, polymers, gas, catalysis, surface treatments, thin film processes and related techniques of evaporation and vacuum processes and the installation, integration and service of CMP systems.

Mr. Delrue holds a Masters in Business Administration from the Centre de Perfectionnement aux Affaires in Paris, France, a post doctorate degree in Chemical engineering from Stanford University and a Ph.D. in Physical Chemistry from Belgium`s University of Mons.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics` global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

The statements contained in this news release may contain ``forward-looking statements.`` Actual results may differ materially from those anticipated in such forward-looking statements. All of these statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics` filings with the Securities and Exchange Commission.


--------------------------------------------------------------------------------
Contact:

Cabot Microelectronics Corporation
Rick Foster, 630/375-5541
or
Edelman Worldwide
Cynthia Rogers or Howard Karesh,
312/233-1390 or 312/240-2724
[e-mail]
[e-mail]

[panik]

Cabot earnings fall, outlook cloudy
AURORA, Ill., July 25 (Reuters) - Cabot Microelectronics Corp. (NasdaqNM:CCMP - news), a maker of materials used in the semiconductor finishing process, on Wednesday reported third-quarter earnings fell a smaller-than-expected 2 percent amid weak conditions across the integrated circuits market.

The company reported earnings of $8.9 million, or 36 cents per share, compared with adjusted earnings of $9 million, or 38 cents per share, a year earlier. Last year`s results were reported on a pro forma basis, adjusting for certain transactions associated with the company`s spin-off from chemicals maker Cabot Corp. (NYSE:CBT - news) last September.

Analysts had expected earnings of 28 to 34 cents per share, with a mean expectation of 31 cents, according to research firm Thomson Financial/First Call.

On a net basis, including all special items from a year earlier, the company`s earnings rose fractionally from about $8.8 million, or 37 cents per share. Earnings per share were lower than a year earlier because the company had more shares outstanding this year.

``Visibility remains clouded relative to the duration of this downturn,`` Cabot Chairman, President and Chief Executive Officer Matthew Neville said in a statement.

[panik]

Cabot Microelectronics Named One of the Greater Chicagoland`s Fastest Growing Technology Companies in Deloitte & Touche ``Fast 50`` Program
AURORA, Ill.--(BUSINESS WIRE)--Sept. 24, 2001--


Cabot Microelectronics attributes its 644 Percent Revenue Growth to

its Innovation of High-Performance Products, Successful Global

Supply Chain, Unparalleled Technical Support and

Responsive Customer Service

Cabot Microelectronics has been named to Deloitte & Touche`s prestigious ``Fast 50`` Program for greater Chicagoland, a ranking of the 50 fastest growing technology companies in the area. Rankings are based on five-year revenue growth, from 1996-2000. The program is sponsored by Deloitte & Touche, in association with Jenner & Block, Lexis Nexis, and the following participating organizations: the University of Chicago Graduate School of Business, Internet Executives Club, World Business Chicago, Illinois Coalition, and the Chicagoland Chamber of Commerce. On September 20, 2001, Deloitte & Touche announced the ranked Greater Chicagoland Technology Fast 50 list. Cabot Microelectronics ranked no.7.

``We at Cabot Microelectronics proudly accept this award on behalf of our employees, customers and partners within both the Chicago community and the semiconductor industry,`` said Matthew Neville, chairman, president and CEO of Cabot Microelectronics. ``We plan to continue working with our customers to develop the most advanced technologies and solutions to keep up with today`s dynamic marketplace.``

In today`s fast-paced world of technology, it`s an honor to be named one of the fastest growing technology companies,`` said Tim McCarty, Partner of Deloitte & Touche. ``We commend Cabot Microelectronics for making the commitment to technology and delivering on the promise of market longevity.``

To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 1996 and $1,000,000 in 2000, must be a public or private company headquartered in Greater Chicagoland, and be a ``technology company`` defined as a company that produces technology, manufactures a technology product, or devotes a high percentage of effort to research and development of technology. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics` global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600.

About Deloitte & Touche

Deloitte & Touche, one of the nation`s leading professional services firms, provides assurance and advisory, tax, and management consulting services through 30,000 people in more than 100 U.S. cities. The firm`s technology and communications practice in the Midwest region focuses on developing and delivering superior customer service and products to rapidly changing technology and communications markets. Deloitte & Touche is part of Deloitte Touche Tohmatsu, a global leader in professional service with more than 90,000 people in over 130 countries. Deloitte & Touche refers to Deloitte & Touche LLP, Deloitte Consulting LLC, and related entities. For additional information, please visit Deloitte & Touche`s web site at www.us.deloitte.com.


--------------------------------------------------------------------------------
Contact:

Company Contact
Cabot Microelectronics Corporation
Rick Foster, 630/375-5541
or
Agency Contact
Edelman Public Relations
Cynthia Rogers, 312/233-1390
[e-mail]
Howard Karesh, 312/240-2724
[e-mail]

[panik]

Cabot Microelectronics Appoints Japan Business Manager
AURORA, Ill.--(BUSINESS WIRE)--Oct. 4, 2001--Cabot Microelectronics Corp. (NASDAQ: CCMP - news), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today announced the appointment of Koki Hongo to the position of Japan Business Manager. He will be responsible for the company`s business development operations in Japan. In this role, he will report directly to Hiro Nishiya, Vice President of Asia Pacific Business.

``Japan is one of the largest producing countries for semiconductor devices and, therefore, a key market for our advanced CMP polishing slurries and pads. We are confident that the combination of Koki`s deep understanding of the semiconductor materials industry and his business management experience in Japan will enable Cabot Microelectronics to maintain our market leadership position,`` stated Hiro Nishiya. ``Koki will play an integral role as we continue to introduce new products and services, expand our customer service organization and pursue new business opportunities in Japan.``

Mr. Hongo will be responsible for the overall leadership of the company`s business initiatives in Japan, including the development and implementation of Cabot Microelectronics` business strategy as well as customer and distributor relationship management and the expansion and improvement of application support services.

Prior to joining Cabot Microelectronics, Mr. Hongo served as Director of the Micro Division Unit at Shipley Far East Ltd. where he was credited with supporting the company`s aggressive sales and new business initiatives. Previously, Mr. Hongo was the Manager of Sales at MEMC Japan Ltd., responsible for silicon wafer sales to leading Japanese semiconductor manufacturers. He contributed to the company`s tenfold sales increase during five years, including new customer development. In recognition of his efforts, Mr. Hongo received Monsanto Japan`s MVP Award. Mr. Hongo has also held similar positions at Takeda Medical Inc. and Osawa Company, Ltd. Mr. Hongo holds a Bachelor of Arts in Economics from Hokkaido University.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics` global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

The statements contained in this news release may contain ``forward-looking statements.`` Actual results may differ materially from those anticipated in such forward-looking statements. All of these statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics` filings with the Securities and Exchange Commission.


--------------------------------------------------------------------------------
Contact:

Cabot Microelectronics Corporation

[panik]

Cabot Microelectronics Reports Results for Fourth Fiscal Quarter 2001
Fiscal Year 2001 Revenue Up 26% and Full Year Net Income Up 42% Over Fiscal Year 2000
AURORA, Ill.--(BUSINESS WIRE)--Oct. 25, 2001--Cabot Microelectronics Corporation (Nasdaq: CCMP - news), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today reported financial results for its fourth fiscal quarter ended September 30, 2001.

Revenue for the quarter was $51.4 million, down 8.5% compared to the prior-year results on a pro forma(a) basis. On a sequential basis, fourth quarter revenue was essentially flat with the third quarter of this year. Net income was $9.2 million, down 14.4% from the prior-year pro forma results, but was up 4.1% sequentially. Diluted earnings per share were $0.38, compared to $0.44 in the prior-year fourth quarter pro forma results and $0.36 in the third quarter of this year.

For the fiscal year, revenues reached $227.2 million, an increase of 25.8% compared with pro forma revenues of $180.6 million last year. Net income for the fiscal year was $41.9 million, up 42.4% over last year on a pro forma basis and diluted earnings per share were $1.72, compared to $1.34 last year.

``Our fourth quarter results benefited from copper product revenues, which grew 56% sequentially from the third quarter and 2.5 times on a full year over year basis,`` stated Dr. Matthew Neville, Cabot Microelectronics` Chairman, President and CEO. ``This demonstrates the continued technology advancements being made by our customers, through device feature shrinks and the adoption of copper wiring, notwithstanding the present severity of the semiconductor industry downturn. It also provides further evidence that leading edge technology chip activities appear to have been less impacted during this downturn than the industry as a whole. Our efforts at continuous product innovation during the quarter were not only evident in our copper results, but also in the market gains we experienced in the hard disk drive sector. These successes, coupled with tight control over discretionary costs, contributed to our 4% sequential quarterly earnings improvement.

``As we begin our new fiscal year, we are encouraged by the continued pace of technology advancement, which we expect to provide growth for our business over time. We remain more committed than ever to our customer-driven support initiatives, including developing new and improved products to support our customers` advancing technology needs, making all necessary strategic R&D and other investments, and stringently managing discretionary costs,`` concluded Neville.

(a)Pro Forma Reporting
To provide a consistent basis of comparison with current year results, prior year historical financial results are presented together with prior year results on a pro forma basis. Pro forma adjustments have been made to present the results as they would have occurred if certain agreements entered into in connection with our separation from Cabot Corporation had been in place throughout the prior year. Pro forma adjustments also have been made to exclude certain one-time transactions associated with our separation from Cabot Corporation. These pro forma adjustments increased reported net income for the three months ended September 30, 2000 by $1.0 million while reducing reported net income for the fiscal year ended September 30, 2000 by $1.1 million. Cabot Microelectronics Corporation operated as the Microelectronics Materials Division of Cabot Corporation prior to its initial public offering on April 4, 2000. The spin-off of Cabot Microelectronics Corporation from Cabot Corporation was completed on September 29, 2000.

Conference Call

Cabot Microelectronics` quarterly earnings conference call will be held today at 11:00 a.m. Central Time. The live conference call and a subsequent replay will be available via Webcast at www.cabotcmp.com or www.streetfusion.com. For assistance, call 1-630-499-2600.

About Cabot Microelectronics

Cabot Microelectronics Corp., headquartered in Aurora, Ill., is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. These products enable IC manufacturers to make smaller, faster and more complex devices and improve their production processes. For more information on Cabot Microelectronics, visit www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

This news release may include statements that constitute ``forward-looking statements`` within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth and trends, growth of this market, international events, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics` filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, see ``Risks Relating to our Business`` in Management`s Discussion and Analysis in our quarterly report on Form 10Q for the quarter ended June 30, 2001, and our Annual Report on Form 10K for the fiscal year ended September 30, 2000, both filed with the SEC. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information.


(Tables to follow)

CABOT MICROELECTRONICS CORPORATION
PRO FORMA STATEMENTS OF INCOME
(Unaudited and in thousands, except per share amounts)

Three Months Twelve Months
Ended September 30 Ended September 30
2001 2000 2001 2000
--------- --------- --------- ---------

Revenue $ 51,411 $ 56,186 $227,192 $180,572

Cost of goods sold 25,305 27,182 108,419 90,478
--------- --------- --------- ---------
Gross profit 26,106 29,004 118,773 90,094

Operating expenses:

Research and development 6,297 5,244 25,805 19,762

Selling and marketing 2,292 2,433 8,757 7,594

General and administrative 4,106 5,114 21,054 16,219

Amortization of goodwill
and other intangibles 179 180 718 718
--------- --------- --------- ---------
Total operating
expenses 12,874 12,971 56,334 44,293
--------- --------- --------- ---------
Operating income 13,232 16,033 62,439 45,801

Other income (expense) 208 3 1,049 (499)
--------- --------- --------- ---------
Income before income taxes 13,440 16,036 63,488 45,302

Provision for income taxes 4,217 5,262 21,586 15,870
--------- --------- --------- ---------
Net income $ 9,223 $ 10,774 $ 41,902 $ 29,432
========= ========= ========= =========


Basic net income per share $0.38 $0.46 $1.76 $1.39
========= ========= ========= =========


Weighted average basic
shares outstanding 24,043 23,590 23,824 21,214
========= ========= ========= =========


Diluted net income per share $0.38 $0.44 $1.72 $1.34
========= ========= ========= =========
Weighted average diluted
shares outstanding 24,510 24,353 24,327 21,888
========= ========= ========= =========

Notes to Unaudited Pro Forma Statements of Income:

a. Certain amounts in the prior fiscal year have been
reclassified to conform with the current year presentation.

b. Pro forma results reflect the revenue and cost of goods sold
which would have resulted had our dispersion services
agreement and fumed metal oxide supply agreement with Cabot
Corporation been in effect for the periods presented. Pro
forma results also include interest expense which would have
been incurred on the borrowings necessary to finance a
dividend to Cabot Corporation and exclude a one-time charge of
$2,113 related to stock options granted to non-Cabot
Microelectronics employees and a one-time charge of $1,642 for
the accelerated vesting of Cabot Microelectronics` employee
incentive compensation and benefits at the time of the
spin-off from Cabot Corporation.



CABOT MICROELECTRONICS CORPORATION
STATEMENTS OF INCOME
(Amounts in thousands, except per share amounts)


Three Months Twelve Months
Ended September 30 Ended September 30
2001 2000 2001 2000
--------- --------- --------- ---------
(unaudited)

Revenue $ 51,411 $ 56,186 $227,192 $181,156

Cost of goods sold 25,305 27,182 108,419 86,290
--------- --------- --------- ---------
Gross profit 26,106 29,004 118,773 94,866

Operating expenses:

Research and development 6,297 5,244 25,805 19,762

Selling and marketing 2,292 2,433 8,757 7,594

General and administrative 4,106 6,756 21,054 19,974

Amortization of goodwill
and other intangibles 179 180 718 718
--------- --------- --------- ---------
Total operating
expenses 12,874 14,613 56,334 48,048
--------- --------- --------- ---------
Operating income 13,232 14,391 62,439 46,818

Other income (expense) 208 3 1,049 130
--------- --------- --------- ---------
Income before income taxes 13,440 14,394 63,488 46,948

Provision for income taxes 4,217 4,646 21,586 16,446
--------- --------- --------- ---------
Net income $ 9,223 $ 9,748 $ 41,902 $ 30,502
========= ========= ========= =========

Basic net income per share $0.38 $0.41 $1.76 $1.44
========= ========= ========= =========
Weighted average basic
shares outstanding 24,043 23,590 23,824 21,214
========= ========= ========= =========

Diluted net income per share $0.38 $0.40 $1.72 $1.39
========= ========= ========= =========
Weighted average diluted
shares outstanding 24,510 24,353 24,327 21,888
========= ========= ========= =========

Note to Statements of Income:

Certain amounts in the prior fiscal year have been
reclassified to conform with the current year presentation.


CABOT MICROELECTRONICS CORPORATION
CONDENSED BALANCE SHEETS
(Amounts in thousands)

September 30, September 30,
2001 2000
------------- -------------

ASSETS:

Current assets:
Cash and cash equivalents $ 47,677 $ 9,971
Accounts receivable, net 26,735 30,595
Inventories, net 16,806 14,014
Other current assets 5,236 4,473
------------- -------------
Total current assets 96,454 59,053

Property, plant and equipment, net 97,426 71,873
Other long-term assets 2,801 5,180
------------- -------------
Total assets $ 196,681 $ 136,106
============= =============


LIABILITIES AND STOCKHOLDERS` EQUITY:

Current liabilities:
Accounts payable $ 13,557 $ 11,646
Accrued expenses and other
current liabilities 12,809 12,554
------------- -------------
Total current liabilities 26,366 24,200

Long-term debt 3,500 3,500
Deferred income taxes and other
long-term liabilities 528 844
------------- -------------
Total liabilities 30,394 28,544

Stockholders` equity 166,287 107,562
------------- -------------
Total liabilities and
stockholders` equity $ 196,681 $ 136,106
============= =============



--------------------------------------------------------------------------------
Contact:
Cabot Microelectronics Corporation
Martin M. Ellen, 630/375-6631

[Chipdesign]

Thursday January 24, 9:07 am Eastern Time
Cabot Q1 profits drop amid weak semiconductor demand
AURORA, Ill., Jan 24 (Reuters) - Cabot Microelectronics Corp. (NasdaqNM:CCMP - news), a supplier of chemical products to the semiconductor industry, said on Thursday earnings dropped sharply on lower revenues due to weak semiconductor demand.

Revenue for the first fiscal quarter ended December 31, 2001 was $51 million, down from $68.6 million a year earlier due to semiconductor industry downturn and weak global economic conditions.

Operating income was $14 million, down from $22 million while net income was $9 million, or 37 cents per share, down from $14.4 million, or 59 cents per share.

Analysts expected earnings of 38 cents per share, according to research firm Thomson Financial/First Call.

``Revenues have remained relatively flat over the last three quarters. This trend could be an indication that we and our customers may have hit the bottom of this cycle,`` Chief Executive Matthew Neville said.

[panik]

08:20 ET Cabot Micro blows past consensus (CCMP) 34.75: Reports Q3 earnings of $0.54 per share, $0.21 better than the Multex consensus. Revenues rose 32.8% to $68.4 mln vs the $55.3 mln consensus. CCMP says it is difficult to predict Q4 revs, but is encouraged by the pace of technology advancement being made by its customers.

[veco]

http://www.forbes.com/2002/08/14/0814sf.html?partner=yahoo&r…


Stock Focus
Catching Stocks On The Rebound
Jody Yen, 08.14.02, 8:30 AM ET

NEW YORK - Wall Street doesn`t like disappointments--especially from former favorites such as Merck, which is expected to post a 1% decline in profits per share this year. Shares of Merck are off 31% from their 52-week high.

Merck (nyse: MRK - news - people ) has been hurt by the loss of patent protection for such drugs as Prinivil, for hypertension, and Mevacor, for high cholesterol levels. The company is also facing growing competition from generic manufacturers. Sales growth is expected to slow to just 8% this year, which is a big letdown from Merck`s five-year annualized growth rate of 19%.

But 2003 may prove more favorable for Merck. "Merck is in the last stage of patent expirations, which marks the beginning of its recovery," says Michael Krensavage, Raymond James senior drug analyst. Krensavage notes that several of Merck`s current drugs still have strong sales, especially Fosamax, an treatment for osteoporosis; Singulair, used for asthma; and Zocor, which reduces the risk of heart attack and stroke.

Krensavage is positive on Zetia, a drug Merck is co-developing with Schering-Plough (nyse: SGP - news - people ) to treat high cholesterol levels. A new drug-approval application for Zetia was filed with the Food and Drug Administration in January.

Next year Krensavage expects Merck to file applications for a formulation currently known as MK-869, to treat depression, and KRP-297, to treat diabetes. Krensavage thinks that some of these new compounds could be on the market as early as 2004. Another potential new drug, according to Krensavage, is a cervical cancer vaccine that is in Phase III of development.

Krensavage estimates Merck`s earnings will bounce back 10% to $3.35 per share in 2003. Merck trades for 15 times this estimate.

The following table lists seven companies whose earnings are expected to fall this year but recover in 2003. As a group, profits are expected to increase 24% in 2003. These stocks trade for an average of just 15 times estimated 2003 earnings.

Chelmsford, Mass.-based Mercury Computer Systems (nasdaq: MRCY - news - people ), which designs and manufactures digital signal and image processing systems for military and medical use, posted an earnings decline of 48%, to 69 cents per share, in June 2002. Analysts reporting to Thomson Financial/IBES expect a strong rebound in 2003, with profits of 94 cents per share.

Mercury`s sales of military electronics equipment are likely to benefit from the war on terrorism. Bradley Mook, director at Investec, an investment bank, says many of the new manless surveillance planes, such as Predator and Global Hawk, will require advanced electronic equipment. Mook expects Mercury`s sales will rise 15% in 2003, to $172 million.

Spun off from Cabot (nasdaq: CCBT - news - people ) in April 2000, Cabot Microelectronics (nasdaq: CCMP - news - people ) supplies slurries used to polish surfaces on semiconductor wafers. Not surprisingly, Cabot Microelectronics has been hurt by the slowdown in the semiconductor industry. Analysts expect Cabot Microelectronics to end the year with earnings of $1.64 per share, down 4% from 2001.

What about next year? Analysts currently expect profits of $2.20 per share, or 34% higher than expected 2002 results. Cabot trades at 18 times this forecast.

2003 Rebound Stocks
Company Price Year-To-Date Price Change 2003 Estimated P/E Estimated EPS Growth* Market Value ($mil)
Barra (nasdaq: BARZ - news - people ) $33.47 -29% 16 17% $681
Cabot Microelectronics (nasdaq: CCMP - news - people ) 39.44 -50 18 32 954
MDC Holdings (nyse: MDC - news - people ) 41.21 9 7 13 1,099
Merck (nyse: MRK - news - people ) 49.68 -16 15 10 111,759
Mercury Computer Systems (nasdaq: MRCY - news - people ) 24.52 -37 26 23 530
Triumph Group (nyse: TGI - news - people ) 34.78 7 10 14 551
Universal Electronics (nasdaq: UEIC - news - people ) 9.00 -48 11 19 124

Prices as of Aug. 13. P/E: Price-to-earnings ratio. EPS: Earnings per share. *Annualized; projected over the next three to five years. Sources: Bloomberg Financial Markets; FT Interactive Data, Market Guide and Thomson Financial/IBES via FactSet Research Systems

[panik]

Cabot Microelectronics Reports Results for Fourth Fiscal Quarter 2002
Thursday October 24, 7:05 am ET


AURORA, Ill., Oct. 24 /PRNewswire-FirstCall/ -- Cabot Microelectronics Corporation (Nasdaq: CCMP - News), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today reported financial results for its fourth fiscal quarter ended September 30, 2002.
ADVERTISEMENT


Revenue for the fourth fiscal quarter ended September 30, 2002 was $65.3 million, up 26.9% from the fourth quarter a year ago. Net income for the quarter of $11.5 million, or $0.47 per diluted share, was up 24.1% from the fourth quarter a year ago. Compared to the near record level of revenue achieved in the third fiscal quarter of 2002, fourth quarter 2002 revenue was down 4.6%, as a result of reduced sales volumes of 8% while average selling prices increased 3.5%. This average selling price increase was primarily due to product mix.

Fourth quarter copper revenue increased 12.2% sequentially as the Company benefited from the semiconductor industry`s continued ramp of this technology, while overall softening of demand in the semiconductor and data storage industries contributed to sequential revenue declines in the Company`s other product lines.

Gross margins in the fourth fiscal quarter of 51.1% were slightly ahead of the 50.8% in the year ago fourth quarter, although down from the 53.0% earned in the third fiscal quarter of 2002. Included in the current fourth quarter`s cost of goods sold is a $0.6 million final payment under a royalty obligation and $1.1 million of sequentially higher inventory-related expenses, mostly for the write-off of certain experimental, qualification and other products.

Operating expenses of $16.6 million were down sequentially by $0.4 million but were up $3.7 million from the year ago fourth quarter. Included in operating expenses are research and development expenses of $10.1 million in the 2002 fourth quarter, which increased by $3.8 million from the fourth quarter a year ago. This increase is primarily due to the higher level of R&D activity enabled by the Company`s mid year opening of its new state-of-the-art class 1 clean room and R&D facility.

For the 2002 fiscal year, revenues were $235.2 million, up 3.5% from fiscal 2001. Net income of $40.7 million in fiscal 2002 was down 2.9% from fiscal 2001. Earnings per diluted share in fiscal 2002 were $1.66 compared to $1.72 in fiscal 2001. Net income and diluted earnings per share in fiscal 2002 were reduced by $0.7 million and $0.02, respectively, resulting from the settlement of certain patent litigation in the second fiscal quarter of 2002.

"I am pleased with our financial results and accomplishments this year given the overall difficult economic environment and its impact on the semiconductor industry," stated Dr. Matthew Neville, Cabot Microelectronics Chairman, President and CEO. "We were able to benefit from the industry`s continued adoption of copper technology. Our copper product revenues for the fiscal year increased 115% over fiscal 2001. Unfortunately, in the last month of our fourth quarter, some of the strengthening in our product revenues which had occurred earlier in the spring and summer did not hold, and it also now appears we are entering fiscal 2003 with customers decreasing their level of demand for our products from these earlier levels. However, as a result of our many product development activities this year and the investments we`ve made that have furthered our research and development capabilities, I believe that we are well positioned to benefit from an industry recovery when it occurs.

"I am also pleased with a milestone reached in the fourth quarter in our pad program, through a distribution agreement we entered into with Freudenberg Nonwovens Limited, an existing pad supplier to the industry. Freudenberg`s current products meet the needs of certain of the industry`s existing pad applications, and we bring a strong channel to market for these products. We currently expect to have revenues from this program in 2003.

"In addition, we believe our position in the marketplace is strong. We have maintained our dedicated focus to meeting the technology needs of our customers and believe we have supported those initiatives with appropriate investments. For these reasons, we are optimistic about fiscal 2003," concluded Neville.

Conference Call

Cabot Microelectronics` quarterly earnings conference call will be held today at 9:00 a.m. Central Time. The live conference call and a subsequent replay will be available via Webcast at www.cabotcmp.com or www.ccbn.com. For assistance, call 1-630-499-2600.

About Cabot Microelectronics

Cabot Microelectronics Corp., headquartered in Aurora, Ill., is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. These products enable IC manufacturers to make smaller, faster and more complex devices and improve their production processes. For more information on Cabot Microelectronics, visit www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

This news release may include statements that constitute "forward-looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth and trends, growth of this market, international events, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics` filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those described by these forward-looking statements. In particular, see "Risks Relating to our Business" in Management`s Discussion and Analysis in our quarterly report on Form 10Q for the quarter ended June 30, 2002 and our Annual Report on Form 10K for the fiscal year ended September 30, 2001, both filed with the SEC. Cabot Microelectronics Corporation assumes no obligation to update this forward- looking information.

CABOT MICROELECTRONICS CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share amounts)
Quarter Ended (unaudited) Twelve Months Ended
Sept. 30, June 30, Sept. 30, Sept. 30, Sept. 30,
2002 2002 2001 2002 2001

Revenue $65,264 $68,377 $51,411 $235,165 $227,192

Cost of goods sold 31,946 32,113 25,305 113,067 108,419

Gross profit 33,318 36,264 26,106 122,098 118,773

Operating expenses:

Research and
development 10,102 10,190 6,297 33,668 25,805

Selling and
marketing 2,469 2,470 2,292 9,667 8,757

General and
administrative 3,917 4,260 4,106 17,458 21,054

Litigation
settlement - - - 1,000 -

Amortization of
goodwill and other
intangibles 74 90 179 345 718

Total operating
expenses 16,562 17,010 12,874 62,138 56,334

Operating income 16,756 19,254 13,232 59,960 62,439

Other income
(expense), net 71 1,160 208 763 1,049

Income before
income taxes 16,827 20,414 13,440 60,723 63,488

Provision for income
taxes 5,377 7,147 4,217 20,038 21,586

Net income $11,450 $13,267 $9,223 $40,685 $41,902


Basic earnings
per share $0.47 $0.55 $0.38 $1.68 $1.76

Weighted average
basic shares
outstanding 24,231 24,193 24,043 24,160 23,824

Diluted earnings
per share $0.47 $0.54 $0.38 $1.66 $1.72

Weighted average
diluted shares
outstanding 24,501 24,521 24,510 24,565 24,327


CABOT MICROELECTRONICS CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEETS
(Amounts in thousands)

September 30, September 30,
2002 2001
ASSETS:

Current assets:
Cash and cash equivalents $69,605 $47,677
Accounts receivable, net 26,082 26,735
Inventories, net 21,959 16,806
Other current assets 5,637 5,236
Total current assets 123,283 96,454

Property, plant and equipment, net 132,264 97,426
Other long-term assets 2,838 2,801
Total assets $258,385 $196,681

LIABILITIES AND STOCKHOLDERS`
EQUITY:

Current liabilities:
Accounts payable $11,748 $13,557
Capital lease obligation 1,585 -
Accrued expenses, income taxes
payable and other current
liabilities 17,238 12,809
Total current liabilities 30,571 26,366

Long-term debt 3,500 3,500
Capital lease obligation 8,865 -
Deferred income taxes and other long-
term liabilities 1,943 528
Total liabilities 44,879 30,394

Stockholders` equity 213,506 166,287
Total liabilities and
stockholders` equity $258,385 $196,681



CONTACT: Martin M. Ellen, Vice President and Chief Financial Officer of Cabot Microelectronics Corporation, 630-375-6631.




--------------------------------------------------------------------------------
Source: Cabot Microelectronics Corp.

[panik]

Cabot Microelectronics and Ondeo Nalco Announce a Wastewater Management And Water Recycle Alliance
Wednesday December 4, 4:15 pm ET


AURORA, Ill., Dec. 4 /PRNewswire-FirstCall/ -- Cabot Microelectronics Corp. (Nasdaq: CCMP - News), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today announced that it has formed an alliance with Ondeo Nalco to provide flexible strategic sourcing solutions for wastewater management and water recycle (WWM/WR) to CMP customers in defined segments of the Electronics industry. In order to provide CMP customers with the benefit of the leading- edge expertise of both Cabot Microelectronics and Ondeo Nalco in this critical area of the overall semiconductor manufacturing process, Cabot Microelectronics brings its extensive knowledge of CMP consumables and the CMP process and Ondeo Nalco will deliver the WWM/WR strategic sourcing packages directly to customers.
ADVERTISEMENT


"As a technology leader in CMP, Cabot Microelectronics prides itself on providing our customers with added value and complete solutions for their CMP requirements. Among the critical issues facing semiconductor manufacturers are increasingly stringent requirements for reducing wastewater generation and water usage. We believe this alliance will combine our in-depth knowledge of CMP processes and chemistries with Ondeo Nalco`s leadership in wastewater management and water recycling to offer our customers robust solutions to these challenges," stated Jeremy Jones, Cabot Microelectronics` Vice President of New Business Development.

"We finance, operate, maintain, and continuously adapt and improve the water management/water recycle process for the customer," said Matt Knight, Vice President of the Industrial and Institutional Services Division for Ondeo Nalco. "This allows customers to focus on their core competency -- making semiconductors -- while accessing the technology needed to manage their wastewater needs." Where appropriate, Ondeo Nalco will utilize the services and products of its affiliate, Ondeo Industrial Solutions, in delivering WWM/WR solutions to customers.

About Cabot Microelectronics Corporation

Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. The Company reported fiscal 2002 revenues of $235.2 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600.

About Ondeo Nalco

Ondeo Nalco, a subsidiary of SUEZ Environment Industrial Services division, is the worldwide leader in water treatment and process chemicals with 10,000 employees working with more than 60,000 customers in 130 countries and annual revenues of $2.7 billion. For more information, please visit the Ondeo Nalco website at www.ondeo-nalco.com .

Safe Harbor Statement

The statements contained in this news release may contain "forward-looking statements." Actual results may differ materially from those anticipated in such forward-looking statements. All of these statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics` filings with the Securities and Exchange Commission. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information.

CONTACT: Jeremy Jones, Vice President, New Business Development of Cabot Microelectronics Corporation, [phone], or Olivia Barberis, External Communications Manager of Ondeo Nalco, [phone].




--------------------------------------------------------------------------------
Source: Cabot Microelectronics Corp.

[panik]

Cabot Microelectronics Reports Results for First Fiscal Quarter 2003
Thursday January 23, 7:01 am ET


AURORA, Ill., Jan. 23 /PRNewswire-FirstCall/ -- Cabot Microelectronics Corporation (Nasdaq: CCMP - News), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today reported financial results for its first fiscal quarter ended December 31, 2002.
ADVERTISEMENT


Total revenue for the first fiscal quarter of 2003 was $57.3 million, up 12.3% from the first quarter a year ago. On a sequential basis, revenue was down 12.2% from the fourth fiscal quarter of 2002. The majority of the revenue decrease from the prior quarter was due to decreased demand caused by a decline in wafer starts along with a few customers drawing down their slurry inventories. The Company`s overall average selling price was unchanged.

Gross margin in the first fiscal quarter of 51.7% was up sequentially from 51.1%. The improvement in margin primarily resulted from lower manufacturing operating costs and other expenses, which more than offset the effect of lower production volumes. Gross margin in the year ago quarter was 53.4%.

Operating expenses of $15.7 million, consisting of research and development (R&D), selling and marketing and general and administrative expenses, were down sequentially by $0.9 million, mainly due to lower spending on research and development supplies as well as other reduced discretionary items. Operating expenses increased on a year-over-year basis by $2.4 million, primarily due to increases in R&D efforts consistent with the Company`s strategy of investing to maintain its technology leadership. The Company`s current estimate of its worldwide effective tax rate for all of fiscal 2003 is 33.5%.

Net income for the quarter was $9.3 million, compared to $11.5 million in the fourth quarter and $9.0 million in the year ago quarter. On a diluted share basis, earnings were $0.38 this quarter, compared to $0.47 in the fourth quarter and $0.37 in the year ago first quarter.

"During our first fiscal quarter of 2003, Cabot Microelectronics delivered solid financial performance that showed concrete improvement in our overall year-over-year financial measures and operational initiatives," stated Dr. Matthew Neville, Cabot Microelectronics, Chairman and CEO. "Despite the ongoing effects of the global and industry downturn and sequential impact of our customers` reduction in wafer starts to meet current end-market demand, we were able to deliver these results because of our continued mission critical focus to advance our product technologies and improve our customer relationships, while stringently managing our costs. We remain encouraged about the long-term growth opportunities for the CMP consumables market, given factors such as our customers` continued implementation of advanced technologies, feature shrinks, and the adoption of new materials and processes that require CMP."

Conference Call

Cabot Microelectronics` quarterly earnings conference call will be held today at 9:00 a.m. Central Time. The live conference call and a subsequent replay will be available via Webcast at www.cabotcmp.com or www.ccbn.com. For assistance, call 1-630-499-2600.

About Cabot Microelectronics

Cabot Microelectronics Corp., headquartered in Aurora, Ill., is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. These products enable IC manufacturers to make smaller, faster and more complex devices and improve their production processes. For more information on Cabot Microelectronics, visit www.cabotcmp.com or call 1-630-499-2600.

Safe Harbor Statement

This news release may include statements that constitute "forward-looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth and trends, growth of this market, international events, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics` filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those described by these forward-looking statements. In particular, see "Risks Relating to our Business" in Management`s Discussion and Analysis in our Annual Report on Form 10K for the fiscal year ended September 30, 2002, filed with the SEC. Cabot Microelectronics Corporation assumes no obligation to update this forward- looking information.

CABOT MICROELECTRONICS CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited in thousands, except per share amounts)

Quarter Ended
Dec. 31, Sept. 30, Dec. 31,
2002 2002 2001

Revenue $57,273 $65,264 $51,004
Cost of goods sold 27,665 31,946 23,746
Gross profit 29,608 33,318 27,258
Operating expenses:
Research and development 8,635 10,102 6,947
Selling and marketing 2,578 2,469 2,358
General and administrative 4,368 3,917 3,884
Amortization of intangibles 85 74 90
Total operating expenses 15,666 16,562 13,279
Operating income 13,942 16,756 13,979
Other income (expense) (5) 71 (317)
Income before income taxes 13,937 16,827 13,662
Provision for income taxes 4,669 5,377 4,645
Net income $9,268 $11,450 $9,017

Basic net income per share $0.38 $0.47 $0.37
Weighted average
basic shares outstanding 24,300 24,231 24,096

Diluted net income per share $0.38 $0.47 $0.37
Weighted average diluted
shares outstanding 24,579 24,501 24,532


CABOT MICROELECTRONICS CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited and amounts in thousands)

December 31, September 30,
2002 2002

ASSETS:
Current assets:
Cash and cash equivalents $76,796 $69,605
Accounts receivable, net 28,141 26,082
Inventories, net 24,390 21,959
Other current assets 5,910 5,637
Total current assets 135,237 123,283

Property, plant and equipment, net 131,449 132,264
Other long-term assets 2,637 2,838
Total assets $269,323 $258,385

LIABILITIES AND STOCKHOLDERS` EQUITY:
Current liabilities:
Accounts payable $9,405 $11,748
Capital lease obligation 1,612 1,585
Accrued expenses, income
taxes payable and other
current liabilities 17,248 17,238
Total current liabilities 28,265 30,571

Long-term debt 3,500 3,500
Capital lease obligation 8,499 8,865
Deferred income taxes and
other long-term liabilities 2,197 1,943
Total liabilities 42,461 44,879

Stockholders` equity 226,862 213,506
Total liabilities
and stockholders` equity $269,323 $258,385



CONTACT: Daniel S. Wobby, Corporate Controller and Acting Chief Financial Officer of Cabot Microelectronics Corporation, [phone]




--------------------------------------------------------------------------------
Source: Cabot Microelectronics Corp.

[panik]

10:53AM Short-Squeeze Alert -- Cabot Micro (CCMP) 54.40 +2.21: Stock has made a very aggressive move to its highs of the day. Intraday price action suggests that shorts are covering positions in this extremely volatile name. As of last reporting date, short-interest in this name stood at approx. 25% of the float.

[panik]

11:19AM Reversal Alert : Cabot Microelectronics (CCMP 56.71 +1.07) has experienced a rather sharp reversal off its early lows, with CCMP shares now trading at their best levels of the day. This stock was highlighted yesterday as a Short-Squeeze candidate due to relative strength coupled with 25% short interest.