30 October 2012 23:01 [Source: ICIS news]
HOUSTON (ICIS)--US-based carbon-black producer Cabot reported on Tuesday a fiscal fourth-quarter net income of $37m (€29m), down 26% from $50m reported from the same time last year because of higher general expenses.
However, gross profit rose 12% because revenue rose faster than cost of sales, Cabot said.
Fourth-quarter net revenue was $848m, up 1.8% from $833m reported for the same time last year. Cost of sales was $690m, down from $692m reported for the same time last year.
Selling and administrative expenses were $87m, up from $63m for the same time last year.
($1 = €0.78)
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