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KMG net income rises 17% on strong electronics

9:30 AM MST | December 7, 2012 | Lindsay Frost

KMG Chemicals (Houston), a specialty chemicals producer, reported a drop in sales and a slight increase in earnings for its fiscal first quarter, ended 31 October. The company says net income rose 17%, to $4.1 million. Earnings per share of 36 cts/share were up 16% from the first quarter 2012 and beat analyst estimates of 31 cts/share, according to Thomson Reuters (New York). Sales were down 8.7% year-on-year (YOY), to $65.3 million, because of reduced volumes in its wood treating chemicals business, the company says. The "results underscore the...

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