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KMG preliminary results beat estimates

11:15 AM MDT | October 14, 2013 | Vincent Valk

KMG Chemicals today announced preliminary fiscal fourth-quarter operating income of $2.5 million, down 62.7% year-on-year (YOY), on net sales of $81.1 million, up 19.9%. Operating income included a number of charges related to the acquisition of OM Group’s ultrapure chemicals (UPC) business. Excluding those charges, operating income for the quarter totaled $5.3 million, down 20.9%. Adjusted earnings totaled 28 cts/share, down 15.2% and beating analysts’ consensus estimate of 27 cts/share, as reported by Thomson Reuters (New York). KMG was originally...

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