Cabot Corporation Announces Realignment of Business Reporting Segments

January 20, 2015

BOSTON--(BUSINESS WIRE)--Jan. 20, 2015-- Cabot Corporation (NYSE: CBT) announced today that it has realigned its global business segments. The new segment structure is designed to improve efficiency and resource prioritization. It will also enable stronger customer focus and better align with the recently announced organizational structure.

The company is organized into four segments that now include Reinforcement Materials, Performance Chemicals, Specialty Fluids and Purification Solutions. The Reinforcement Materials segment now combines the rubber blacks and elastomer composites product lines. This segment’s main objective is to serve the tire and industrial rubber industries. The Performance Chemicals segment now combines the specialty carbons and compounds, and inkjet colorants product lines into the Specialty Carbons and Formulations business, and combines the fumed metal oxides and aerogel product lines into the Metal Oxides business. This new structure better leverages Cabot’s global activities across common customer applications, production, and research and development. The Specialty Fluids business will now be a stand-alone reporting segment. Finally, there is no change to the Purification Solutions segment, which includes the Cabot Norit Activated Carbon business.

The new segment structure is aligned with recently announced senior management changes. Sean Keohane is the executive vice president and president of the Reinforcement Materials segment. Nick Cross is the executive vice president and president of the Performance Chemicals and Specialty Fluids segments. Fred von Gottberg is the senior vice president and president of the Purification Solutions segment.

Beginning with the first quarter of fiscal 2015, financial results for the company will reflect the realigned segment structure. Included with this press release are recast financial statements for fiscal 2013 and fiscal 2014 consistent with these realigned segments.

Commenting on the changes, Cabot President and CEO Patrick Prevost, said, “The new segment structure will better align with our organization and improve resource prioritization. Our objective remains to deliver earnings growth through superior customer relationships, manufacturing excellence, and outstanding technology development and engagement.”

About Cabot Corporation

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants , cesium formate drilling fluids, fumed silica, and aerogel. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.





CABOT CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS


Periods ended September 30			Three Months						Twelve Months
Dollars in millions, except per share amounts				2014			2013			2014			2013

Net sales and other operating revenues			$	911		$	896		$	3,647		$	3,456

Cost of sales				729			729			2,926			2,823

Gross profit				182			167			721			633


Selling and administrative expenses				81			75			326			297

Research and technical expenses				14			18			60			68
Income from operations				87			74			335			268


Other (expense) income

Interest and dividend income				-			1			3			5

Interest expense				(14	)		(15	)		(55	)		(62	)

Other (expense) income ^(A)				(2	)		(4	)		25			(1	)

Total other (expense) income				(16	)		(18	)		(27	)		(58	)

Income from continuing operations before income taxes and equity in
earnings of affiliated companies				71			56			308			210

Provision for income taxes				(41	)		(8	)		(92	)		(60	)

Equity in earnings of affiliated companies, net of tax				2			2			-			11


Income from continuing operations				32			50			216			161

Income (loss) from discontinued operations, net of tax ^(B)				4			1			2			(1	)

Net income				36			51			218			160

Net income attributable to noncontrolling interests				5			4			19			7

Net income attributable to Cabot Corporation			$	31		$	47		$	199		$	153



Diluted earnings per share of common stock
attributable to Cabot Corporation

Continuing operations			$	0.43		$	0.72		$	3.01		$	2.37

Discontinued operations ^(B)				0.05			0.01			0.02			(0.01	)

Net income attributable to Cabot Corporation			$	0.48		$	0.73		$	3.03		$	2.36

Weighted average common shares outstanding
Diluted				65.1			64.7			65.1			64.5

	^(A)	Other (expense) income for the twelve months of fiscal 2014 includes a $29 million non-cash gain on Cabot's existing investment in its Mexican joint venture (NHUMO) recognized upon acquiring our former joint venture partner's common stock in NHUMO, which represented approximately 60% of the common equity of the joint venture.
	^(B)	Amounts relate primarily to the divestiture of the Security Materials business and the divestiture of the Supermetals business.





CABOT CORPORATION SUMMARY RESULTS BY SEGMENTS


Periods ended September 30		Three Months						Twelve Months
Dollars in millions, except per share amounts (unaudited)			2014			2013			2014			2013

Sales

Reinforcement Materials ^(A)		$	525		$	494		$	2,108		$	1,931

Performance Chemicals ^(A)			259			254			1,022			989
Specialty Carbons and Formulations ^(A)			178			176			709			686
Metal Oxides ^(A)			81			78			313			303

Purification Solutions ^(B)			85			84			315			328

Specialty Fluids ^(A)			21			38			98			101

Segment sales			890			870			3,543			3,349

Unallocated and other ^{(B) (C)}			21			26			104			107

Net sales and other operating revenues		$	911		$	896		$	3,647		$	3,456

Segment Earnings Before Interest and Taxes ^{(D) (E)}

Reinforcement Materials ^(A)		$	59		$	52		$	259		$	194

Performance Chemicals ^(A)			41			36			168			150

Purification Solutions			1			(8	)		(19	)		(4	)

Specialty Fluids ^(A)			7			18			39			46

Total Segment Earnings Before Interest and Taxes ^(E)			108			98			447			386

Unallocated and Other

Interest expense			(14	)		(15	)		(55	)		(62	)
Certain items ^(F)			(9	)		(11	)		(28	)		(54	)
Unallocated corporate costs ^(E)			(11	)		(11	)		(54	)		(48	)
General unallocated expense ^(G)			(1	)		(3	)		(2	)		(1	)
Less: Equity in earnings of affiliated companies			(2	)		(2	)		-			(11	)

Income from continuing operations before income taxes and equity in
earnings of affiliated companies			71			56			308			210

Provision for income taxes (including tax certain items)			(41	)		(8	)		(92	)		(60	)

Equity in earnings of affiliated companies			2			2			-			11

Income from continuing operations			32			50			216			161

Income (loss) from discontinued operations, net of tax^(H)			4			1			2			(1	)

	Net income		36			51			218			160

Net income attributable to noncontrolling interests			5			4			19			7

Net income attributable to Cabot Corporation		$	31		$	47		$	199		$	153

Diluted earnings per share of common stock
	attributable to Cabot Corporation

Continuing operations		$	0.43		$	0.72		$	3.01		$	2.37

Discontinued operations^(H)			0.05			0.01			0.02			(0.01	)

Net income attributable to Cabot Corporation		$	0.48		$	0.73		$	3.03		$	2.36

Adjusted earnings per share
Adjusted EPS^(I)		$	0.85		$	0.78		$	3.43		$	2.93

Weighted average common shares outstanding

Diluted			65.1			64.7			65.1			64.5

^(A)	The amounts above have been recast for all periods to reflect the movement of the Elastomer Composites product line from the Advanced Technologies segment to the Reinforcement Materials segment and the Inkjet Colorants and Aerogel product lines from the Advanced Technologies segment to the Performance Chemicals segment. Specialty Fluids, which was previously included in the Advanced Technologies segment, will now be a stand-alone reporting segment.
^(B)	Beginning in the second quarter of fiscal 2014, a reclassification between Purification Solutions and Unallocated and other sales has been made in the table above in order to align the presentation of shipping and handling fees on customer sales with the rest of Cabot’s businesses. Historical periods have been adjusted to reflect this reclassification.
^(C)	Unallocated and other reflects royalties, other operating revenues, external shipping and handling fees, the impact of unearned revenue, the removal of 100% of the sales of an equity method affiliate and discounting charges for certain Notes receivable.
^(D)	Segment EBIT is a measure used by Cabot's Chief Operating Decision-Maker to measure consolidated operating results, assess segment performance and allocate resources. Segment EBIT includes equity in earnings of affiliated companies, royalty income, and allocated corporate costs.
^(E)	Fiscal 2013 Segment EBIT and unallocated corporate costs have been recast from the reporting of the first three quarters of fiscal 2013 to reflect an allocation of costs to the Purification Solutions segment for corporate administrative and functional support. These allocations were previously reflected in Unallocated corporate costs and other segment results. The recast results for each quarter of fiscal 2013 are consistent with those that were presented in conjunction with Cabot's year end fiscal 2013 earnings release.
^(F)	Details of certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.
^(G)	General unallocated expense includes foreign currency transaction gains (losses), interest income, dividend income, the profit related to unearned revenue, and the impact of LIFO accounting.
^(H)	Amounts relate primarily to the divestiture of the Security Materials business and the Supermetals business.
^(I)	Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.





CABOT CORPORATION CONSOLIDATED STATEMENT OF FINANCIAL POSITION


	September 30,		September 30,
	2014		2013
Dollars in millions

Current assets:

Cash and cash equivalents	$	67	$	95
Accounts and notes receivable, net of reserve for doubtful accounts of $7 and $8		688		633
Inventories:
Raw materials		111		100
Work in process		2		2
Finished goods		341		309
Other		44		44
Total inventories		498		455
Prepaid expenses and other current assets		69		58
Notes receivable from sale of business		-		214
Deferred income taxes		42		36
Current assets held for sale ^(A)		-		4
Total current assets		1,364		1,495

Property, plant and equipment, net		1,581		1,600

Goodwill		536		502
Equity affiliates		68		119
Intangible assets, net of accumulated amortization of $33 and $16		347		308
Assets held for rent		56		49
Deferred income taxes		80		68
Other assets		52		83
Non-current assets held for sale ^(A)		-		9

Total assets	$	4,084	$	4,233

^(A)Includes amounts related to the divestiture of the Security Materials business.





CABOT CORPORATION CONSOLIDATED STATEMENT OF FINANCIAL POSITION


	September 30,	September 30,
	2014	2013
Dollars in millions, except share and per share amounts

Current liabilities:

Notes payable	$ 44	$ 264
Accounts payable and accrued liabilities	512	534
Income taxes payable	49	30
Deferred income taxes	1	2
Current portion of long-term debt	24	14
Total current liabilities	630	844

Long-term debt	1,004	1,020
Deferred income taxes	68	21
Other liabilities	291	265
Redeemable preferred stock	27	-

Stockholders' equity:
Preferred stock:
Authorized: 2,000,000 shares of $1 par value
Issued and Outstanding: None and none	-	-
Common stock:
Authorized: 200,000,000 shares of $1 par value
Issued: 64,634,731 and 64,223,985 shares
Outstanding: 64,382,366 and 63,970,502 shares	64	64
Less cost of 252,365 and 253,483 shares of common treasury stock	(7)	(8)
Additional paid-in capital	49	39
Retained earnings	1,900	1,755
Deferred employee benefits	-	(2)
Accumulated other comprehensive income	(64)	103
Total Cabot Corporation stockholders' equity	1,942	1,951
Noncontrolling interests	122	132
Total stockholders' equity	2,064	2,083
Total liabilities and stockholders' equity	$ 4,084	$ 4,233


CABOT CORPORATION

		Fiscal 2013															Fiscal 2014
Dollars in millions,
except per share amounts (unaudited)		Dec. Q.			Mar. Q.			June Q.			Sept. Q.			FY			Dec. Q.			Mar. Q.			June Q.			Sept. Q.			FY

Sales
Reinforcement Materials ^(A)			483			463			491			494			1,931			533			512			538			525			2,108
Performance Chemicals ^(A)			217			258			260			254			989			237			264			262			259			1,022
Specialty Carbons and Formulations^(A)			148			185			177			176			686			163			186			182			178			709
Metal Oxides ^(A)			69			73			83			78			303			74			78			80			81			313
Purification Solutions ^(B)			88			75			81			84			328			72			80			78			85			315
Specialty Fluids^(A)			8			20			35			38			101			28			25			24			21			98
Segment Sales			796			816			867			870			3,349			870			881			902			890			3,543
Unallocated and other ^{(B) (C)}			23			24			34			26			107			28			17			38			21			104

Net sales and other operating revenues		$	819		$	840		$	901		$	896		$	3,456		$	898		$	898		$	940		$	911		$	3,647

Segment Earnings Before Interest and Taxes ^{(D) (E)}
Reinforcement Materials ^(A)			52			41			49			52			194			73			65			62			59			259
Performance Chemicals ^(A)			32			37			45			36			150			37			46			44			41			168
Purification Solutions			5			-			(1	)		(8	)		(4	)		(9	)		(4	)		(7	)		1			(19	)	-
Specialty Fluids ^(A)			1			9			18			18			46			13			9			10			7			39
Total Segment Earnings Before Interest and Taxes ^(E)			90			87			111			98			386			114			116			109			108			447


Unallocated and Other
Interest expense			(16	)		(16	)		(15	)		(15	)		(62	)		(14	)		(13	)		(14	)		(14	)		(55	)
Certain items ^(F)			(19	)		(20	)		(4	)		(11	)		(54	)		24			(36	)		(7	)		(9	)		(28	)
Unallocated corporate costs ^(E)			(12	)		(13	)		(12	)		(11	)		(48	)		(13	)		(16	)		(14	)		(11	)		(54	)
General unallocated income (expense) ^(G)			3			2			(3	)		(3	)		(1	)		-			(5	)		4			(1	)		(2	)
Less: Equity in (earnings) loss of affiliated companies			(3	)		(3	)		(3	)		(2	)		(11	)		(2	)		2			2			(2	)		-

Income from continuing operations before income taxes and
equity in earnings (loss) of affiliated companies			43			37			74			56			210			109			48			80			71			308

Provision for income taxes (including tax certain items)			(20	)		(16	)		(16	)		(8	)		(60	)		(24	)		(7	)		(20	)		(41	)		(92	)
Equity in earnings (loss) of affiliated companies			3			3			3			2			11			2			(2	)		(2	)		2			-

Income from continuing operations			26			24			61			50			161			87			39			58			32			216
(Loss) income from discontinued operations, net of tax ^(H)			(2	)		(1	)		1			1			(1	)		(1	)		-			(1	)		4			2

Net income			24			23			62			51			160			86			39			57			36			218

Net income (loss) attributable to noncontrolling interests			4			(4	)		3			4			7			6			3			5			5			19

Net income attributable to Cabot Corporation		$	20		$	27		$	59		$	47		$	153		$	80		$	36		$	52		$	31		$	199

Diluted earnings per share of common stock attributable to Cabot Corporation

Continuing operations		$	0.35		$	0.43		$	0.87		$	0.72		$	2.37		$	1.24		$	0.55		$	0.79		$	0.43		$	3.01
Discontinued operations ^(H)			(0.04	)		(0.01	)		0.03			0.01			(0.01	)		(0.01	)		(0.01	)		(0.01	)		0.05			0.02
Net income attributable to Cabot Corporation		$	0.31		$	0.42		$	0.90		$	0.73		$	2.36		$	1.23		$	0.54		$	0.78		$	0.48		$	3.03

Adjusted earnings per share
Adjusted EPS ^(H)		$	0.67		$	0.64		$	0.84		$	0.78		$	2.93		$	0.87		$	0.83		$	0.88		$	0.85		$	3.43

Weighted average common shares outstanding
Diluted			64.1			64.4			64.5			64.7			64.5			64.8			65.1			65.2			65.1			65.1

^(A)	The amounts above have been recast for all periods to reflect the movement of the Elastomer Composites product line from the Advanced Technologies segment to the Reinforcement Materials segment and the Inkjet Colorants and Aerogel product lines from the Advanced Technologies segment to the Performance Chemicals segment. Specialty Fluids, which was previously included in the Advanced Technologies segment, will now be a stand-alone reporting segment.

^(B)	Beginning in the second quarter of fiscal 2014, a reclassification between Purification Solutions and Unallocated and other sales has been made in the table above in order to align the presentation of shipping and handling fees on customer sales with the rest of Cabot’s businesses. Historical periods have been adjusted to reflect this reclassification.

^(C)	Unallocated and other reflects royalties, other operating revenues, external shipping and handling fees, the impact of unearned revenue, the removal of 100% of the sales of an equity method affiliate and discounting charges for certain Notes receivable.
^(D)	Segment EBIT is a measure used by Cabot's Chief Operating Decision-Maker to measure consolidated operating results, assess segment performance and allocate resources. Segment EBIT includes equity in earnings (loss) of affiliated companies, royalty income, and allocated corporate costs.
^(E)	The first three quarters of fiscal 2013 Segment EBIT and unallocated corporate costs have been recast to reflect an allocation of costs to the Purification Solutions segment for corporate administrative and functional support. These allocations were previously reflected in Unallocated corporate costs and other segment results. The recast results for each quarter of fiscal 2013 are consistent with those that were presented in conjunction with Cabot's year end fiscal 2013 earnings release.
^(F)	Details of certain items are presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.
^(G)	General unallocated income (expense) includes foreign currency transaction gains (losses), interest income, dividend income, the profit related to unearned revenue, and the impact of LIFO accounting.
^(H)	Amounts relate primarily to the divestiture of the Security Materials business and the Supermetals business.
^(I)	Adjusted EPS is a non-GAAP measure, and a reconciliation of Adjusted EPS to GAAP EPS is presented in the Certain Items and Reconciliation of Adjusted EPS and Operating Tax Rate table.





CABOT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


Periods ended September 30	Three Months						Twelve Months
Dollars in millions		2014			2013			2014			2013

Cash Flows from Operating Activities:
Net income	$	36		$	51		$	218		$	160
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		51			46			201			190
Other non-cash charges (income), net		38			(15	)		11			14
Changes in assets and liabilities:
Changes in certain working capital items ^(A)		(11	)		182			(139	)		80
Changes in other assets and liabilities, net		(7	)		12			(21	)		(33	)
Proceeds from tax refund		20			-			20			-
Cash dividends received from equity affiliates		3			1			25			8
Cash provided by operating activities		130			277			315			419

Cash Flows from Investing Activities:
Additions to property, plant and equipment		(56	)		(69	)		(171	)		(264	)
Receipts from notes receivable from sale of business		-			-			215			39
Proceeds from sale of business		20			-			20			-
Acquisition of business, net of cash acquired		-			-			(73	)		-
Other investing activities, net		(2	)		2			(7	)		(2	)
Cash used in investing activities		(38	)		(67	)		(16	)		(227	)

Cash Flows from Financing Activities:
Change in debt, net		(89	)		(154	)		(225	)		(123	)
Cash dividends paid to common stockholders		(14	)		(12	)		(54	)		(51	)
Other financing activities, net		(11	)		(28	)		(23	)		(32	)
Cash used in financing activities		(114	)		(194	)		(302	)		(206	)
Effect of exchange rates on cash		(12	)		3			(25	)		(11	)
(Decrease) Increase in cash and cash equivalents		(34	)		19			(28	)		(25	)
Cash and cash equivalents at beginning of period		101			76			95			120
Cash and cash equivalents at end of period	$	67		$	95		$	67		$	95

^(A)Includes Accounts and notes receivable, Inventories, and Accounts payable and accrued liabilities





CABOT CORPORATION CERTAIN ITEMS AND RECONCILIATION OF ADJUSTED EPS AND OPERATING TAX RATE


TABLE 1: DETAIL OF CERTAIN ITEMS
Periods ended September 30								Three Months						Twelve Months						Three Months						Twelve Months
Dollars in millions, except per share amounts (unaudited)								Dollars in Millions												Per Share After Tax
									2014			2013			2014			2013			2014			2013			2014			2013
									$			$			$			$		per share^(A)			per share^(A)			per share^(A)			per share^(A)

Certain items before and after income taxes

Global restructuring activities								$	(5	)	$	(6	)	$	(29	)	$	(35	)	$	(0.06	)	$	(0.03	)	$	(0.31	)	$	(0.33	)
Acquisition and integration-related charges									(2	)		(3	)		(7	)		(21	)		(0.03	)		(0.05	)		(0.08	)		(0.24	)
Foreign currency (loss) gain on revaluations									—			(1	)		(3	)		3			—			(0.02	)		(0.03	)		0.03
Gain on existing investment in NHUMO									—			—			29			—			—			—			0.45			—
Legal and environmental matters and reserves									(2	)		(1	)		(18	)		(1	)		(0.02	)		(0.01	)		(0.18	)		(0.01	)
	Total certain items, pre-tax								(9	)		(11	)		(28	)		(54	)		(0.11	)		(0.11	)		(0.15	)		(0.55	)

Tax impact of certain items									1			5			17			10
	Certain items after tax								(8	)		(6	)		(11	)		(44	)		(0.11	)		(0.11	)		(0.15	)		(0.55	)

Tax-related certain items

Tax impact of certain foreign exchange gains (losses)									1			—			—			(12	)		—			—			(0.01	)		(0.19	)

Discrete tax items									(20	)		2			(17	)		11			(0.31	)		0.05			(0.26	)		0.18



	Total tax-related certain items								(19	)		2			(17	)		(1	)		(0.31	)		0.05			(0.27	)		(0.01	)


	Total certain items after tax								(27	)		(4	)		(28	)		(45	)		(0.42	)		(0.06	)		(0.42	)		(0.56	)


Discontinued operations after income taxes ^(B)									4			1			2			(1	)		0.05			0.01			0.02			(0.01	)



	Total discontinued operations after tax							$	4		$	1		$	2		$	(1	)	$	0.05		$	0.01		$	0.02		$	(0.01	)



TABLE 2: CERTAIN ITEMS STATEMENT OF OPERATIONS LINE ITEM
Periods ended September 30								Three Months									Twelve Months
Dollars in millions, Pre-Tax (unaudited)									2014			2013						2014			2013

Statement of Operations Line Item ^(C)

Cost of sales								$	(3	)	$	(3	)				$	(31	)	$	(38	)

Selling and administrative expenses									(6	)		(6	)					(23	)		(16	)

Research and technical expenses									—			—						—			(1	)
Other income									—			(2	)					26			1

	Total certain items, pre-tax							$	(9	)	$	(11	)				$	(28	)	$	(54	)


TABLE 3: RECONCILIATION OF TAX CERTAIN ITEMS
Periods ended September 30								Three Months									Twelve Months
Dollars in millions (unaudited)									2014			2013						2014			2013

Reconciliation of Provision for income taxes, excluding certain items, to Provision for income taxes


Provision for income taxes								$	(41	)	$	(8	)				$	(92	)	$	(60	)

Less: Tax impact of certain items									1			5						17			10

Less: Tax-related certain items									(19	)		2						(17	)		(1	)

	Provision for income taxes, excluding certain items							$	(23	)	$	(15	)				$	(92	)	$	(69	)

TABLE 4: RECONCILIATION OF OPERATING TAX RATE
Periods ended September 30								Three Months									Twelve Months
Dollars in millions (unaudited)									2014			2013						2014			2013

Reconciliation of the effective tax rate to the operating tax rate


Provision for income taxes								$	(41	)	$	(8	)				$	(92	)	$	(60	)

Effective tax rate									56	%		13	%					30	%		28	%

Impact of discrete tax items:
	Unusual or infrequent items								(28	%)		1	%					(7	%)		(3	%)
	Items related to uncertain tax positions								4	%		6	%					3	%		2	%
	Other discrete tax items								(5	%)		(1	%)					(2	%)		1	%
Impact of certain items									-	%		5	%					3	%		(2	%)
Operating tax rate									27	%		24	%					27	%		26	%

TABLE 5: RECONCILIATION OF ADJUSTED EPS BY QUARTER FISCAL 2013 and FISCAL 2014
NON-GAAP MEASURE:
Periods ended (unaudited)		Fiscal 2013^(A)																		Fiscal 2014^(A)

		Dec. Q			Mar. Q			Jun. Q			Sept. Q			FY 2013 YTD						Dec. Q			Mar. Q			Jun. Q			Sept. Q			FY 2014 YTD
Reconciliation of Adjusted EPS to GAAP EPS
Net income per share attributable to Cabot Corporation		$	0.31		$	0.42		$	0.90		$	0.73		$	2.36					$	1.23		$	0.54		$	0.78		$	0.48		$	3.03
Less: Net (loss) income per share from discontinued operations ^(B)			(0.04	)		(0.01	)		0.03			0.01			(0.01	)					(0.01	)		(0.01	)		(0.01	)		0.05			0.02
Net income per share from continuing operations		$	0.35		$	0.43		$	0.87		$	0.72		$	2.37					$	1.24		$	0.55		$	0.79		$	0.43		$	3.01
Less: Certain items after tax per share			(0.32	)		(0.21	)		0.03			(0.06	)		(0.56	)					0.37			(0.28	)		(0.09	)		(0.42	)	$	(0.42	)
Adjusted earnings per share		$	0.67		$	0.64		$	0.84		$	0.78		$	2.93					$	0.87		$	0.83		$	0.88		$	0.85		$	3.43


^(A)	Per share amounts are calculated after tax and, where applicable, noncontrolling interests, net of tax.
^(B)	Amounts relate primarily to the divestiture of the Security Materials and Supermetals businesses.
^(C)	This table indicates the line items where certain items are recorded in the table titled Cabot Corporation Consolidated Statements of Operations.

Source: Cabot Corporation

Investor Contact:
for Cabot Corporation
Erica McLaughlin, (617) 342-6090

News Release Details

Cabot Corporation Announces Realignment of Business Reporting Segments