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CMC Materials, Inc. (Nasdaq: CCMP) announced a favorable ruling regarding its intellectual property litigation against DuPont. A U.S. International Trade Commission judge found that DuPont infringed CMC's patent related to chemical mechanical planarization (CMP) slurries used in semiconductor manufacturing. If confirmed, the ruling could lead to a ban on DuPont's infringing products in the U.S. CMC's commitment to protecting its intellectual property and investment in research and development was emphasized by General Counsel H. Carol Bernstein.
CMC Materials, Inc. (Nasdaq: CCMP) has declared a quarterly cash dividend of $0.46 per share, amounting to $1.84 annually. This dividend is payable on or about July 30, 2021 to shareholders recorded by the close of business on June 23, 2021. CMC Materials is a leading supplier of consumable materials for semiconductor manufacturers and pipeline operators, employing approximately 2,100 employees globally.
CMC Materials, Inc. (Nasdaq: CCMP) has elected Dr. Anne K. Roby to its Board of Directors, effective immediately. Dr. Roby brings over 30 years of experience from her previous role as Executive Vice President at Linde plc, overseeing $1.7 billion in annual revenue. She has a strong background in semiconductor materials, safety, sustainability, and digital transformation. The Board anticipates that her expertise will enhance operational excellence and strategic growth. Dr. Roby's term will last until the 2022 annual meeting of stockholders.
CMC Materials reported a record revenue of $290.5 million for Q2 FY2021, marking a 2.2% year-over-year increase and 0.9% sequential growth. The Electronic Materials segment generated $242.5 million, up 10.8% year-on-year. Despite strong performance, the company faced a $149.8 million net loss due to a non-cash goodwill impairment of $201.5 million and an exit from the wood treatment business. Adjusted EBITDA was $84.8 million, slightly down from last year. The company expects revenue growth of mid to high single digits for the next quarter and increased its full-year EBITDA guidance to $370-$390 million.
CMC Materials (Nasdaq: CCMP) has announced the timing for its second quarter earnings release and conference call for fiscal year 2021, which ended on March 31, 2021. The earnings release will be available after market close on May 5, 2021, on the company's Investor Relations website. A conference call is scheduled for May 6, 2021, at 10:00 a.m. ET, where company management will address analysts' questions without reviewing prepared remarks. CMC Materials is a global supplier of consumable materials, primarily for semiconductor manufacturers.
CMC Materials (CCMP) has successfully completed the acquisition of International Test Solutions (ITS), making it a wholly-owned subsidiary. This move aims to enhance CMC Materials' portfolio in the semiconductor sector, leveraging ITS's technical expertise and distribution network. According to CEO David Li, the acquisition positions CMC Materials to capture growth trends in the semiconductor industry. This strategic addition is expected to bolster the company’s leadership in providing application-specific materials critical for maximizing yield and throughput in semiconductor manufacturing.
CMC Materials, Inc. (Nasdaq: CCMP) has declared a quarterly cash dividend of $0.46 per share, an increase of approximately 5% over the previous dividend. This brings the annualized dividend to $1.84. The dividend will be payable on April 23, 2021, to shareholders of record by March 23, 2021. Additionally, the Board has increased the share repurchase program to $150 million, significantly up from $27 million remaining at the end of 2020. Over the last 17 years, the company has returned nearly $1 billion to shareholders.
CMC Materials has announced an agreement to acquire International Test Solutions (ITS) for approximately $125 million in cash, expected to close in April 2021. This acquisition strengthens CMC's Electronic Materials segment by adding ITS's high-performance consumables for semiconductor testing. The integration aims to enhance product offerings, operational yields, and customer value in an evolving semiconductor landscape. The transaction will be funded using cash on hand and is subject to regulatory approvals.
CMC Materials, Inc. (Nasdaq: CCMP) announced its Annual Meeting of Stockholders scheduled for March 3, 2021, at 8:00 a.m. CT, held virtually. Stockholders can access the meeting through the provided link, logging in five minutes prior to the start. A replay will be available until March 3, 2022. CMC Materials supplies consumable materials to semiconductor manufacturers and pipeline operators globally, employing approximately 2,100 people. The company focuses on delivering high-performing, innovative solutions to meet its customers' challenges.
CMC Materials, Inc. (CCMP) reported a record revenue of $287.9 million for Q1 FY2021, up 1.7% year-over-year and 5.0% sequentially, driven by strong demand in CMP slurries and pads. Diluted EPS was $1.07, with adjusted diluted EPS flat at $1.92. Net income declined to $31.5 million from $38.5 million due to a $7.3 million impairment charge. The company anticipates low single-digit revenue growth in Q2 and has raised full-year adjusted EBITDA guidance to $367 million to $387 million.
