KMG Updates Fiscal Second Quarter Earnings Outlook and Schedules Fiscal Second Quarter 2013 Results Call
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 Call
KMG 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
The conference call will also be webcast live via the "Investors" section of the Company's website at http://kmgchemicals.com. To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software.
If you are unable to listen live, the conference call will be archived on the KMG website. A telephone replay of the call will also be available for one week, starting at 12:00 p.m. ET on March 8, 2013. To access the call, dial 888-286-8010 or 617-801-6888 using participant passcode 51894882.
KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to select markets. The Company grows by acquiring and optimizing stable chemical product lines and businesses with established production processes. Its current operations are focused on the electronic and industrial wood treatment chemical markets. For more information, visit the Company's web site at http://kmgchemicals.com.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development acceptance, the impact of competitive services and pricing and general economic risks and uncertainties.
KMG Chemicals, Inc.
Eric Glover, 713-600-3865
Investor Relations Manager
KEYWORDS: United States North America Texas
The article KMG Updates Fiscal Second Quarter Earnings Outlook and Schedules Fiscal Second Quarter 2013 Results Call originally appeared on Fool.com.
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