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KMG Chemicals earnings fall but beat estimates

10:30 AM MDT | June 10, 2013 | Vincent Valk

KMG Chemicals today reported fiscal third-quarter net income down 27.5% year-on-year (YOY), to $2.9 million, on sales down 10%, to $59.9 million. Earnings totaled 25 cts/share, beating analysts’ consensus of 22 cts/share, as reported by Thomson Reuters (New York). KMG’s fiscal third quarter ended on 30 April. Electronic chemicals segment sales fell 7.8% YOY, to $36.3 million, while segment operating income fell 23.1%, to $3 million. The declines were due to falling North American volumes as demand from semiconductor manufacturers remained weak...

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