Originally published at www.seclive.com
KMG Chemicals Inc. (NYSE:KMG) announced its third quarter financial results for the fiscal year 2014, reporting a rise in net sales. The specialty chemicals maker posted net sales of $84.4M, a 40.9% increase from $59.9M reported a year ago. Earnings fell from $2.9M and $0.25 per share a year ago to $1.2M and $0.11 per share this quarter. The company's largest segment, Electronic Chemicals, grew sales from $36.3M to $61.5M while operating margin shrunk from 8.2% to 5.2%. The Wood Treating Chemicals segment saw sales fall 2.9% from $23.5M to $22.9M, with operating margin falling from 10.8% to 9.2%. Chairman and CEO Chris Fraser commented that the company made several large internal moves during the quarter that included integration of the UPC business as well as the restructuring and consolidation of some of its manufacturing facilities.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.