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KMG Chemicals Reports Flat Net Income

9:26 AM MST | December 9, 2011 | Vincent Valk

KMG Chemicals today reported fiscal first-quarter net income of $3.5 million, or 31 cts/share, flat with results from the same period a year ago. Income slightly exceeded analysts’ estimates of 30 cts/share, according to Thomson Reuters (New York). Sales rose 18% year-on-year, to $73.3 million.   “As we have previously discussed, barring any substantial economic downturn we remain confident in our ability to generate significantly improved results in fiscal 2012 as compared to fiscal 2011. We believe that our operating income for the first three...

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