KMG Chemicals Posts Drop In Net Income
Butler said the company expects to fall "modestly below" its original goal of $200 million in annual revenue due to the economic slowdown, but still expects about 20 percent annual revenue growth and improved earnings from fiscal 2008.
"While second-quarter earnings were lower than originally expected, we believe the company is well positioned in the current economy to have a stronger second half," Butler said. Shares rose 12 cents to $4.32 in morning trading. KMG produces and distributes specialty chemicals.- Loading Comments...
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