Cabot profits double in Q1 on lower feedstock prices

Boston, Massachussetts - Cabot Corp. has announced net income of $54 million (€41.6 million) for the first quarter of 2007. This is compared to net income of $24 million for the first quarter of fiscal 2006.

Commenting on the results, Kennett Burnes, Cabot's Chairman and CEO, said, "For the first time in nearly two years we experienced relief from carbon black feedstock costs, which positively impacted performance in both rubber blacks and performance products."

Cabot said the decline in feedstock prices led to an increase in margins in the carbon black business. This, combined with an 8 percent increase in volume in the rubber black business, despite the effects of the strike at Goodyear, led to the higher profits in the carbon business.

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Press release from Cabot