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KMG Earnings Fall 65% on Integration and Raw Material Costs
10:08 AM MDT | October 13, 2011 | Rebecca Coons
KMG Chemicals reported net income of $1.2 million in its fiscal fourth quarter ended July 31, down 65% from the same period last year, as the company’s electronic chemicals business was hit by raw material cost inflation and manufacturing consolidation costs. Sales increased 19%, to $74.2 million. Earnings of 10 cts/share fell short of analysts’ estimates of 11 cts/share, as reported by Thomson One, and KMG’s guidance of 11 cts-12 cts/share. Electronic chemicals posted a 10% increase, to a record $40.2 million, due to a strong semiconductor...
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