BOSTON (Jan. 26, 2011)—Cabot Corp.'s net income more than doubled to $80 million for the first quarter of its fiscal 2011, with sales climbing 11 percent to $753 million.
Sales for its rubber carbon black business jumped 10.8 percent to $442 million for the period ended Dec. 31, but earnings for the segment were off 11.6 percent to $38 million.
“Our continued focus on operations is generating strong results across all segments and we are seeing the global economic environment continuing to improve,” said Patrick Prevost, Cabot president and CEO. “Each of our businesses is contributing to our performance in a significant way with solid execution in our strategic areas of margin improvement, emerging market expansion and new business development.”
Provost added that Cabot is seeing strong end market growth in China and Southeast Asia, and the firm has “expanded unit margins by maintaining our disciplined cost management, utilizing our global manufacturing platform more efficiently and pricing our offerings for the value they bring to our customers.”