Cabot Microelectronics Corporation Reports Strong Results for

Cabot Microelectronics Corporation Reports Strong Results for Second Quarter of Fiscal 2017

CABOT MICROELECTRONICS CORPORATION
U.S. GAAP to Non-GAAP Reconciliation
Gross Profit as a Percentage of Revenue, Net Income and Diluted Earnings Per Share
(Unaudited and amounts in thousands, except per share and percentage amounts)

The following presents reconciliation of the Non-GAAP financial measures included in the Cabot
Microelectronics Corporation press release dated April 27, 2017.


	Three Months Ended March 31, 2017								Six Months Ended March 31, 2017

	U.S. GAAP			Adjustments		Non-GAAP			U.S. GAAP			Adjustments		Non-GAAP
Gross profit	$	60,031		$	1,198	$	61,229		$	121,536		$	2,396	$	123,932
Gross profit as a percentage of revenue (1)		50.4	%				51.4	%		50.1	%				51.1	%


Net income (2)	$	18,280		$	1,068	$	19,348		$	40,511		$	2,135	$	42,646


Diluted earnings per share (3)	$	0.71		$	0.05	$	0.76		$	1.60		$	0.08	$	1.68

(1) Non-GAAP gross profit as a percentage of revenue for the three months ended March 31, 2017 excludes $1,198 of NexPlanar amortization expense.
Non-GAAP gross profit as a percentage of revenue for the six months ended March 31, 2017 excludes $2,396 of NexPlanar amortization expense.


(2) Non-GAAP net income for the three months ended March 31, 2017 excludes the item mentioned above in (1) plus $468 of NexPlanar amortization
expense recorded in operating expenses. These adjustments are partially offset by a $598 related increase in the provision for income taxes.
Non-GAAP net income for the six months ended March 31, 2017 excludes the item mentioned above in (1) plus $936 of NexPlanar amortization
expense recorded in operating expenses. These adjustments are partially offset by a $1,197 related increase in the provision for income taxes.

(3) Non-GAAP diluted earnings per share is calculated based upon Non-GAAP net income.

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