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CABOT ANNOUNCES 1992 FISCAL YEAR OPERATING RESULTS: EPS FROM CONTINUING OPERATIONS UP 88 PERCENT TO $3.18 PER SHARE

 CABOT ANNOUNCES 1992 FISCAL YEAR OPERATING RESULTS:
 EPS FROM CONTINUING OPERATIONS UP 88 PERCENT TO $3.18 PER SHARE
 BOSTON, Oct. 29 /PRNewswire/ -- Cabot Corporation (NYSE: CBT) today reported a 56 percent rise in income from continuing operations to $62.2 million ($3.18 per common share) for its fiscal year ended Sept. 30, 1992, compared with $39.8 million ($1.69 per common share) for fiscal year 1991. The improved results reflect cost reductions, higher volumes and more favorable margins in the North American market. Net sales and other operating revenues from continuing operations rose 5 percent to $1.56 billion from $1.48 billion last year.
 For the fourth fiscal quarter ended Sept. 30, 1992, Cabot reported income from continuing operations of $7.2 million (34 cents per common share), compared with $4.0 million (17 cents per common share) for the same period in 1991. The 17 cents increase reflects improved operating performance and a lower effective tax rate.
 Samuel W. Bodman, chairman of Cabot Corporation, said, "We are very pleased with our fiscal 1992 results, which were achieved in the face of recessionary environments in both the United States and Europe. Higher volumes and associated economies of scale in our Specialty Chemicals and Materials Group, combined with the leverage effect of a greatly reduced number of common shares outstanding, have allowed Cabot to significantly improve earnings per share. Longer term, we expect to continue to benefit from these factors as the economy improves."
 Bodman said fourth quarter operating profit for the company's Specialty Chemical and Materials Group rose to $28.9 million from $10.7 million, with sales for the Group up 20 percent to $302.2 million. The improvement was attributed to higher volumes and the company's cost reduction program. Fourth quarter performance for Cabot's Energy Group was comparable to the year-ago quarter, with sales up slightly to $75.1 million netting to a small operating loss of $0.9 million.
 For the full fiscal year, sales in the company's Specialty Chemicals and Materials Group were up 4 percent to $1.18 billion from $1.13 billion. Operating profit climbed 50 percent to $155.0 million from $103.2 million last year, owing largely to higher volumes and associated cost improvements. Cabot's Energy Group posted a 6 percent revenue increase to $376.0 million from $353.5 million last year. Operating profit for the Group nearly doubled from $9.5 million to $18.2 million, boosted by stronger pricing and higher LNG volumes.
 Bodman also noted that as a result of continued worldwide economic uncertainty, particularly in Europe, the company has concerns about the first quarter of fiscal 1993 but is generally more sanguine about fiscal 1993 overall.
 Cabot Corporation is a Boston-based, Fortune 300 Company with operations in specialty chemicals and materials, and energy. The 110- year old company has annual sales of $1.5 billion.
 CABOT CORPORATION AND CONSOLIDATED SUBSIDIARIES
 Summary of Results of Operations
 (Dollars in Thousands)
 Three Months Ended
 Sept. 30,
 1992 1991
 Net sales and other
 operating revenues $383,248 $323,696
 Income before income
 taxes 9,984 4,395
 Provision for U.S. and
 foreign income taxes (4,368) (3,229)
 Equity in net income of
 affiliated companies 1,535 2,879
 Income from continuing
 operations 7,151 4,045
 Gain on disposal of
 discontinued operations --- (6,320)
 Net income 7,151 (2,275)
 Preferred dividends (921) (931)
 Income applicable to primary
 common shares 6,230 (3,206)
 Income per primary common
 share:
 Continuing operations 34 cents 17 cents
 Gain on disposal of
 discontinued operations --- (35 cents)
 Net income per common
 share 34 cents (18 cents)
 Average number of shares
 outstanding (000's) 18,560 18,188
 Twelve Months Ended
 Sept. 30,
 1992 1991
 Net sales and other
 operating revenues $1,556,986 $1,482,089
 Income before income taxes 116,599 62,362
 Provision for U.S. and foreign
 income taxes (54,549) (31,054)
 Equity in net income of
 affiliated companies 173 8,517
 Income from continuing
 operations 62,223 39,825
 Income from discontinued
 operations --- 9,492
 Gain on disposal of discontinued
 operations --- 77,943
 Net income 62,223 127,260
 Preferred dividends (3,709) (3,748)
 Income applicable to primary
 common shares $58,514 $123,512
 Income per common share:
 Continuing operations $3.18 $1.69
 Discontinued operations --- 45 cents
 Gain on disposal of discontinued
 operations --- $3.66
 Net income per common share $3.18 $5.80
 Average number of shares
 outstanding (000's) 18,401 21,278
 -0- 10/29/92
 /CONTACT: Kathryn I. Davis, Cabot director, investor relations, 617-342-6366/
 (CBT) CO: Cabot Corporation ST: Massachusetts IN: CHM OIL SU: ERN


CN -- NE006 -- 6535 10/29/92 11:28 EST
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Date:Oct 29, 1992
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