Delaware
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000-30205
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36-4324765
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(State or other jurisdiction of incorporation)
|
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(Commission File Number)
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|
(IRS Employer Identification)
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870 Commons Drive, Aurora, Illinois
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|
60504
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(Address of principal executive offices)
|
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(Zip Code)
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(630) 375-6631
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(Registrant's telephone number, including area code)
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Not applicable
|
(Former name or former address, if changed since last report)
|
o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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(c)
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Exhibits
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|
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The following exhibit is being furnished, not filed, herewith pursuant to Item 2.02 of Form 8-K:
|
|
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99.1 Press release, dated April 25, 2013, entitled "Cabot Microelectronics Corporation Reports Results for Second Quarter of Fiscal 2013."
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CABOT MICROELECTRONICS CORPORATION
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||
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|
|
|
|
|
|
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Date: April 25, 2013
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By:
|
/s/ WILLIAM S. JOHNSON
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|
|
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William S. Johnson
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|
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Vice President and Chief Financial Officer
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|
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[Principal Financial Officer]
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Exhibit Number
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Title
|
||
99.1
|
Press release, dated April 25, 2013, entitled "Cabot Microelectronics Corporation Reports Results for Second Quarter of Fiscal 2013."
|
CABOT MICROELECTRONICS CORPORATION
|
||||||||||||||||||||
CONSOLIDATED STATEMENTS OF INCOME
|
||||||||||||||||||||
(Unaudited and amounts in thousands, except per share amounts)
|
||||||||||||||||||||
|
||||||||||||||||||||
|
||||||||||||||||||||
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Quarter Ended
|
Six Months Ended
|
||||||||||||||||||
|
March 31,
|
December 31,
|
March 31,
|
March 31,
|
March 31,
|
|||||||||||||||
|
2013
|
2012
|
2012
|
2013
|
2012
|
|||||||||||||||
|
||||||||||||||||||||
Revenue
|
$
|
100,364
|
$
|
106,533
|
$
|
99,236
|
$
|
206,897
|
$
|
201,358
|
||||||||||
|
||||||||||||||||||||
Cost of goods sold
|
52,019
|
56,494
|
53,442
|
108,513
|
106,285
|
|||||||||||||||
|
||||||||||||||||||||
Gross profit
|
48,345
|
50,039
|
45,794
|
98,384
|
95,073
|
|||||||||||||||
|
||||||||||||||||||||
Operating expenses:
|
||||||||||||||||||||
|
||||||||||||||||||||
Research, development & technical
|
15,073
|
15,316
|
14,071
|
30,389
|
27,826
|
|||||||||||||||
|
||||||||||||||||||||
Selling & marketing
|
7,046
|
7,109
|
7,434
|
14,155
|
14,770
|
|||||||||||||||
|
||||||||||||||||||||
General & administrative
|
12,287
|
10,954
|
15,177
|
23,241
|
28,078
|
|||||||||||||||
|
||||||||||||||||||||
Total operating expenses
|
34,406
|
33,379
|
36,682
|
67,785
|
70,674
|
|||||||||||||||
|
||||||||||||||||||||
Operating income
|
13,939
|
16,660
|
9,112
|
30,599
|
24,399
|
|||||||||||||||
|
||||||||||||||||||||
Interest expense
|
872
|
953
|
354
|
1,825
|
393
|
|||||||||||||||
|
||||||||||||||||||||
Other income (expense), net
|
463
|
854
|
97
|
1,317
|
201
|
|||||||||||||||
|
||||||||||||||||||||
Income before income taxes
|
13,530
|
16,561
|
8,855
|
30,091
|
24,207
|
|||||||||||||||
|
||||||||||||||||||||
Provision for income taxes
|
4,110
|
6,858
|
3,325
|
10,968
|
8,262
|
|||||||||||||||
|
||||||||||||||||||||
Net income
|
$
|
9,420
|
$
|
9,703
|
$
|
5,530
|
$
|
19,123
|
$
|
15,945
|
||||||||||
|
||||||||||||||||||||
Basic earnings per share
|
$
|
0.41
|
$
|
0.42
|
$
|
0.24
|
$
|
0.84
|
$
|
0.70
|
||||||||||
|
||||||||||||||||||||
Weighted average basic shares outstanding
|
22,974
|
22,845
|
22,768
|
22,914
|
22,624
|
|||||||||||||||
|
||||||||||||||||||||
Diluted earnings per share
|
$
|
0.40
|
$
|
0.41
|
$
|
0.23
|
$
|
0.81
|
$
|
0.68
|
||||||||||
|
||||||||||||||||||||
Weighted average diluted shares outstanding
|
23,871
|
23,658
|
23,780
|
23,755
|
23,378
|
CABOT MICROELECTRONICS CORPORATION
|
||||||||
CONSOLIDATED CONDENSED BALANCE SHEETS
|
||||||||
(Unaudited and amounts in thousands)
|
||||||||
|
||||||||
|
March 31,
|
September 30,
|
||||||
|
2013
|
2012
|
||||||
ASSETS:
|
||||||||
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
188,354
|
$
|
178,459
|
||||
Accounts receivable, net
|
51,220
|
53,506
|
||||||
Inventories, net
|
66,075
|
66,472
|
||||||
Other current assets
|
20,397
|
19,451
|
||||||
Total current assets
|
326,046
|
317,888
|
||||||
|
||||||||
Property, plant and equipment, net
|
112,632
|
125,020
|
||||||
Other long-term assets
|
72,174
|
74,917
|
||||||
Total assets
|
$
|
510,852
|
$
|
517,825
|
||||
|
||||||||
|
||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY:
|
||||||||
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
13,913
|
$
|
19,542
|
||||
Current portion of long-term debt
|
10,938
|
10,937
|
||||||
Capital lease obligations
|
-
|
2
|
||||||
Accrued expenses, income taxes payable and other current liabilities
|
29,411
|
32,738
|
||||||
Total current liabilities
|
54,262
|
63,219
|
||||||
|
||||||||
Long-term debt, net of current portion
|
157,500
|
161,875
|
||||||
Capital lease obligations, net of current portion
|
-
|
19
|
||||||
Other long-term liabilities
|
8,947
|
9,121
|
||||||
Total liabilities
|
220,709
|
234,234
|
||||||
|
||||||||
Stockholders' equity
|
290,143
|
283,591
|
||||||
Total liabilities and stockholders' equity
|
$
|
510,852
|
$
|
517,825
|