KMG Chemicals net income soars

KMG Chemicals fiscal fourth-quarter net income more than tripled from the year-ago period, to $3.9 million, on higher profit margins and a lower cost of sales. Sales declined 4.7% year-on-year, to $67.6 million, due to weak volumes in the company’s wood treatment chemicals business. Earnings totaled 34 cts/share. KMG’s fiscal fourth-quarter ended on 31 July.   Electronic chemicals sales were up 7% year-on-year, to $43.1 million, due to strong demand from fabrication facility expansions. Segment operating income rose more than tenfold, to $4.3...

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