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Markets :: Specialty Chemicals :: Electronic chemicals
KMG Chemicals Net Income Soars on Higher Prices
11:26 AM MDT | June 8, 2012 | Vincent Valk
KMG Chemicals fiscal third-quarter net income rose 54% year-on-year to $4 million, or 34 cts/share, on net sales up 7.6%, to $66.6 million and higher operating margins. Sales rose due to improved pricing in electronic chemicals and wood treating chemicals. Earnings slightly beat analysts’ estimates of 33 cts/share, as reported by Thomson Reuters (New York). Electronic chemicals net sales rose 2.4% year-on-year, to $39 million, on higher prices. Sales volumes have “remained firm” despite softness in Europe, KMG says. Operating profits rose...
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