Cabot Corporation reported unaudited consolidated earnings results for the first quarter ended December 31, 2012. For the quarter, the company reported net sales and other operating revenues of $820 million against $762 million for the same period last year. Income from operations was $55 million against $61 million for the same period last year. Income from continuing operations before income taxes and equity in net earnings of affiliated companies was $41 million against $55 million for the same period last year. Income from continuing operations was $25 million or $0.33 per diluted share against $40 million or $0.55 per diluted share for the same period last year. Net income attributable to the company was $20 million or $0.31 per diluted share against $46 million or $0.71 per diluted share for the same period last year. Adjusted EPS was $0.66 against $0.63 for the same period last year. The company ended the first quarter of fiscal 2013 with a cash balance of $91 million, a decrease of $29 million from the fourth quarter of fiscal 2012. The decrease was driven by capital expenditures of $62 million and an increase in net working capital.

The company provided tax rate guidance for the fiscal year 2013. The company expects operating tax rate for fiscal 2013 will be between 25% and 27%.