- Net sales were $93.6 million, an increase of 43.3% from the comparable quarter in fiscal 2013. The sales increase reflected the addition of OM Group’s Ultra Pure Chemicals (UPC) business, acquired in May 2013.
- Adjusted EBITDA 1 of $8.0 million, compared to $9.3 million last year. First quarter fiscal 2014 adjusted EBITDA excludes $500,000 of integration expenses and $1.28 million of CEO transition expense, while first quarter fiscal 2013 adjusted EBITDA excludes $577,000 in acquisition expenses.
- GAAP diluted earnings per share was $0.12 vs. $0.36 reported in the same period a year ago. First quarter EPS was adversely impacted by an increase of $960,000 in audit, tax and other professional service fees.
- Adjusted (non-GAAP) diluted EPS, which excludes integration expenses and CEO transition expense, was $0.22.
KMG Chemicals Reports First Quarter 2014 Financial Results
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