08 June 2012 13:50 [Source: ICIS news]
HOUSTON (ICIS)--KMG Chemicals’ fiscal 2012 third-quarter net income rose 52% year on year to $3.97m (€3.14m), partly because of higher prices in its electronic chemicals and wood treating chemicals businesses, the US-based producer said on Friday.
Furthermore, KMG said that the quarter's results benefited from the consolidation and integration of electronic chemical assets it acquired last year.
Sales for the three months ended 30 April rose by 7.6% to $66.6m.
Operating income increased by 65.9% to $6.9m. Operating margins were 10.3% in the third quarter of 2012, up from 6.7% in the prior-year period.
“Our third quarter earnings were up substantially from the preceding quarter and from the prior-year period, reflecting the benefits of our electronic chemicals plant consolidation and integration efforts,” CEO Neal Butler said.
“Targeted pricing actions in our electronic chemicals and wood treating business segments also benefited results, and enabled us to recoup higher raw materials costs,” ?xml:namespace>
($1 = €0.79)
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