KMG Chemicals earnings fall on lower sales

KMG Chemicals reported fiscal second-quarter earnings down 36% YOY, to $1.6 million, or 14 cts/share, on sales down 15%, to $57 million. Reduced demand in both of the company’s operating segments drove the declines in earnings and sales. Earnings were short of analysts’ consensus estimate of 16 cts/share, as reported by Thomson Reuters (New York). KMG Chemicals’ fiscal second-quarter ended on 31 January. “Weakness in North American semiconductor production and reduced demand for our wood treating chemicals caused our second quarter results to come in...

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