KMG Chemicals Reports First Quarter Results with 145% Increase in Revenues

KMG Chemicals, Inc. (NASDAQ: KMGB), a global provider of specialty chemicals in carefully focused markets, today announced financial results for the first quarter ended October 31, 2008 and the outlook for the remainder of the year.

Business Highlights

• First quarter sales rose 145% to $52.2 million, primarily as a result of sales from our acquisition at December 31, 2007 of our Electronic Chemicals business from Air Products and Chemicals, Inc.
• Operating income was $3.5 million, a 37% increase over the first quarter of the previous year.

  Published: 09 December 2008

  Written by Editor

  Nasdaq   Industrial   Financial Results   Up on News  

  Read more: KMG Chemicals Inc ( KMGB )

Nevada Chemicals, Inc. to Be Acquired

Nevada Chemicals, Inc. (Nasdaq: NCEM) announced that it has signed a definitive agreement to be acquired by Calypso Acquisition Corp., an affiliate of Cyanco Holding Corp. and OCM Principal Opportunities Fund IV, L.P., a fund managed by Oaktree Capital Management, L.P., for $13.37 per share of common stock. The transaction has been structured as a cash tender offer for 100% of Nevada Chemicals’ outstanding common stock. The offer price represents approximately a 36 percent premium over the closing stock market price of Nevada Chemicals’ common stock on September 5, 2008. Calypso Acquisition intends to commence the offer within approximately ten business days.