12 October 2012 13:35 [Source: ICIS news]
HOUSTON (ICIS)--KMG Chemicals' fiscal 2012 fourth-quarter net income rose to $3.86m (€2.97m), from $1.18m in the same period last year, even though sales fell, the US-based producer said on Friday.
KMG credited higher margins and improved operating profitability in its core electronic chemicals and wood treatment chemicals businesses for the year-on-year increase in net income.
KMG’s sales for the three months ended 31 July were down 4.7% to $67.6m as wood treatment chemical sales declined.
Looking ahead, CEO Neal Butler said that despite continued economic weakness in Europe, and to a lesser extent in the ?xml:namespace>
“We have been encouraged by demand trends within our electronic chemicals business and anticipate our results within this segment will remain stable in the first fiscal quarter, aided by customer fab [fabrication] expansion activities,”
“As always, we remain active in pursuing accretive acquisitions and have identified promising opportunities in both the electronic chemicals and wood treating chemicals segments,” he added.
($1 = €0.77)
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