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UPDATE 1-KMG Chemicals Q4 profit falls
Oct 13 (Reuters) - Speciality chemicals maker KMG Chemicals quarterly profit fell, hurt partly by a rapid increase in raw material costs in its electronic chemical segment.For the fourth quarter, the company posted a net income of $1.2 million, or 10 cents per share, compared with $3.4 million, or 30 cents per share, a year ago.Net sales for the fourth quarter rose 19 percent to $74.2 million.Analysts, on average, were expecting earnings of 11 cents a share on revenue of $73.5 million, according to Thomson Reuters I/B/E/S."Absent a global recession, we believe we will see organic growth in our Electronic Chemicals business in 2012 and beyond," chief executive Neal Butler said in a statement.Shares of the Houston, Texas-based company, valued at about $160.3 million, closed at $14.81 on Nasdaq on Wednesday.
UPDATE 1-KMG Chemicals Q4 profit falls
Oct 13 (Reuters) - Speciality chemicals maker KMG Chemicals quarterly profit fell, hurt partly by a rapid increase in raw material costs in its electronic chemical segment.For the fourth quarter, the company posted a net income of $1.2 million, or 10 cents per share, compared with $3.4 million, or 30 cents per share, a year ago.Net sales for the fourth quarter rose 19 percent to $74.2 million.Analysts, on average, were expecting earnings of 11 cents a share on revenue of $73.5 million, according to Thomson Reuters I/B/E/S."Absent a global recession, we believe we will see organic growth in our Electronic Chemicals business in 2012 and beyond," chief executive Neal Butler said in a statement.Shares of the Houston, Texas-based company, valued at about $160.3 million, closed at $14.81 on Nasdaq on Wednesday.
