KMG Chemicals, Inc. (NYSE: KMG), a global provider of specialty chemicals in select markets, today announced preliminary results for the fiscal second quarter of 2013.
Neal Butler, President and CEO of KMG, stated, “Our fiscal second quarter proved somewhat more challenging than we had expected, as market demand for our Electronic Chemicals and Wood Treating products was sluggish for much of the quarter. The weakness we experienced was volume-related, reflecting a global slowdown in semiconductor production and reduced North American demand for wood treating products. Although we previously had provided second quarter earnings expectations roughly equal to last year’s second quarter, as a result of the weakened demand environment, we now expect fiscal second quarter diluted earnings per share to be approximately 80% of prior year second quarter results. This forecast includes expenses associated with the advancement of our consolidation strategy.”
Mr. Butler continued, “Recently, we have begun to see a recovery in demand from our Electronic Chemicals and Wood Treating customers, providing a positive start to our fiscal third quarter. We remain optimistic on the outlook for fiscal 2013 as we anticipate further improvement in our sales volumes.”
Second Quarter Results and Conference CallKMG will provide fiscal second quarter 2013 results on Friday, March 8, 2013, when the Company issues a news release prior to the open of the stock market. At 10:00 a.m. ET on the same day, the Company will conduct a conference call with investors and analysts. Interested parties may participate in the call by dialing:
|800-561-2693 or 617-614-3523|
|Participant passcode: 57079806|