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KMG earnings down, electronic chemical sales up

5:22 AM MDT | June 9, 2014 | Lindsay Frost

KMG announced results for its third quarter ended 30 April, including lower electronics chemicals sales with strength in wood-treating chemicals. Net income of $1.2 million was down 58% year-over-year (YOY), with earnings per share of 11 cts. Net sales were $84.4 million—a 41% increase YOY, reflecting the addition of the ultra-pure chemicals (UPC) business acquired in May 2013, the company says. “In our third quarter we continued to make progress on the integration of the UPC business and strategic manufacturing realignment of our global electronic...

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