Cabot Microelectronics Corporation Reports Strong Results for

Cabot Microelectronics Corporation Reports Strong Results for First Quarter of Fiscal 2017

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

		December 31,		September 30,
		2016		2016
ASSETS:

Current assets:
Cash and cash equivalents	$	305,714	$	287,479
Accounts receivable, net		66,828		62,830
Inventories, net		71,088		72,123
Other current assets		13,679		14,398
Total current assets		457,309		436,830

Property, plant and equipment, net		102,999		106,496
Other long-term assets		180,690		183,904
Total assets	$	740,998	$	727,230


LIABILITIES AND STOCKHOLDERS' EQUITY:

Current liabilities:
Accounts payable	$	19,575	$	16,834
Current portion of long-term debt		10,938		7,656
Accrued expenses, income taxes payable and other current liabilities		39,385		41,395
Total current liabilities		69,898		65,885

Long-term debt, net of current portion		143,745		146,961
Other long-term liabilities		14,000		16,736
Total liabilities		227,643		229,582

Stockholders' equity		513,355		497,648
Total liabilities and stockholders' equity	$	740,998	$	727,230

CABOT MICROELECTRONICS CORPORATION
U.S. GAAP to Non-GAAP Reconciliation
Gross Profit as a Percentage of Revenue, Net Income and Diluted Earnings Per Share
(Unaudited and amounts in thousands, except per share and percentage amounts)

The following presents reconciliation of the Non-GAAP financial measures included in the Cabot
Microelectronics Corporation press release dated January 26, 2017.


	Three Months Ended December 31, 2016

		U.S. GAAP			Adjustments		Non-GAAP
Gross profit	$	61,505		$	1,198	$	62,703
Gross profit as a percentage of revenue (1)		49.9	%				50.9	%

Net income (2)	$	22,231		$	1,067	$	23,298

Diluted earnings per share (3)	$	0.88		$	0.04	$	0.92


(1) Non-GAAP gross profit as a percentage of revenue for the three months ended December 31, 2016 excludes $1,198 of NexPlanar amortization expense.

(2) Non-GAAP net income for the three months ended December 31, 2016 excludes the item mentioned above in (1) plus $468 of NexPlanar amortization
expense recorded in operating expenses. These adjustments are partially offset by a $599 related increase in the provision for income taxes.

(3) Non-GAAP diluted earnings per share is calculated based upon Non-GAAP net income.

« Previous Page 1 | 2 | 3