KMG Chemicals earnings fall on lower sales

KMG Chemicals reports fiscal second-quarter earnings down 36% year-on-year (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's 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...

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