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Fiscal Year 2002 News ReleasesMay 23, 2002 — KMG Chemicals, Inc. Third Fiscal Quarter 2002 Results |
KMG CHEMICALS THIRD FISCAL QUARTER 2002 RESULTSThird fiscal quarter earnings up considerably over same period last year. Annual results expected to exceed last year’s. HOUSTON, May 23, 2002 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, today announced its unaudited financial results for the third fiscal quarter ended April 30, 2002. Net income for the third fiscal 2002 quarter was $0.799 million or $0.11 per diluted share, up from $.211 million or $0.03 per diluted share reported for the same quarter in 2001. Fiscal third quarter net sales were $8.8 million, up from $8.1 million in the year earlier quarter. At the end of the third fiscal 2002 quarter, KMG had total assets of $28.1 million and long-term debt of $0.937 million. Long-term debt to total assets was 3.3 percent on April 30, 2002. Cash and cash equivalents at that date totaled approximately $2.5 million. David Hatcher, chairman and president of KMG Chemicals, said, “Our fiscal third quarter results came in significantly ahead of our internal annual plan, and slightly ahead of the earnings guidance we gave last quarter. Although dryer-than-normal weather in the Southern cotton states is adversely impacting our herbicide sales, we believe that fiscal year 2002 results should exceed last year’s. This is the result of three primary factors:
The company anticipates that fiscal 2002 earnings will exceed fiscal
2001 earnings of $0.35 per share. The current earnings per share estimate
for fiscal year 2002 is in the range of $0.36 to $0.39. Accordingly,
fourth quarter earnings per share are expected to be in the $0.15 to
$0.18 range. Hatcher concluded, “We are currently working on several acquisition opportunities. I am very pleased with the pace of our acquisition program, and with the quality of attractive opportunities we are pursuing.” KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural industry. For more information, visit the company's Web site at www.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.
John V. Sobchak KMG CHEMICALS SECOND FISCAL QUARTER 2002 RESULTSSecond quarter results meet internal plan. Second half of fiscal 2002 expected to beat last year's numbers. HOUSTON, March 1, 2002 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, today announced its unaudited financial results for the second fiscal quarter ended January 31, 2002. For the second fiscal 2002 quarter, net income was $0.386 million or $0.05 per diluted share, down from $0.609 million or $.08 per diluted share reported for the same quarter in 2001. Fiscal second quarter net sales were $7.6 million, down from $8.2 million in the year earlier period. At the end of the second fiscal 2002-quarter, KMG had total assets of $26.1 million and long-term debt of $1.1 million. Long-term debt to total assets was 4.2 percent on January 31, 2002, and has decreased from 26.2 percent at the end of fiscal 1998. The company had approximately $1.7 million of cash and cash equivalents at January 31, 2002. David Hatcher, chief executive officer and president of KMG Chemicals, said, "Both the second quarter and the first half of fiscal 2002 went according to our internal annual plan. However, we now expect the second half of fiscal 2002 to exceed our annual plan. These higher expectations are a result of two main factors:
In spite of the recessionary environment, the company maintains strong and profitable positions in stable markets. Based on existing business, it anticipates that fiscal 2002 earnings will exceed fiscal 2001 earnings of $.35 per share. The current earnings per share estimate for the third quarter of fiscal 2002 is in the $0.09 to $0.10 range, up from the $.03 per share earned in the third quarter of fiscal 2001. Hatcher commented that because of the board's confidence in the company's improving performance, it elected to increase the cash dividend, as previously announced, by 12.5 percent to $0.045 annually. The company's MSMA (agricultural herbicide) plant in Matamoros continues to produce on schedule for the upcoming spring planting in the domestic cotton markets. Production should be sufficient for all customer needs. The selling season for the Bueno® 6 herbicide occurs in the company's third and fourth fiscal quarters, so fiscal 2002 earnings will be skewed toward the second half of the fiscal year. "We are continuing the aggressive acquisition initiative implemented at the beginning of this fiscal year," continued Hatcher. "We are greatly encouraged by the results thus far, and are actively pursuing several attractive opportunities. Our cash flow and strong balance sheet continue to provide us with a significant competitive advantage in the process."
John V. Sobchak KMG CHEMICALS ANNOUNCES DIRECT STOCK PURCHASE PLANHOUSTON, February 14, 2002 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, has implemented a Direct Stock Purchase Plan as a service to registered shareholders, customers, employees and other investors. The Plan allows participants to:
Securities Transfer Corporation, KMG's transfer agent, will serve as Administrator for the Plan. The Administrator will purchase shares of KMG's common stock for the Plan at current prices on the open market. The prospectus for the Plan can be obtained here, or by calling the company at 713-988-9252 (x100). Non-shareholders must make an initial investment of at least $200, but not more than $100,000. Once in the Plan, investments must be at least $25, and may not exceed $100,000 in each calendar year. KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc., is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural markets. For more information, visit the company's website at www.kmgchemicals.com. This is not an offer to sell or a solicitation to buy any securities of KMG. Shares of KMG common stock purchased through the KMG Direct Stock Purchase Plan will be offered by Prospectus. KMG CHEMICALS, INC. ELECTS CHARLES L. MEARS TO BOARD OF DIRECTORSIndustrial chemicals expertise augments company’s acquisition strategy HOUSTON, December 18, 2001 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, announced that Charles L. Mears was elected to the company’s board of directors. David Hatcher, chief executive officer of KMG, said, “On behalf of the board I welcome Chuck to the KMG team. He brings to the table extensive experience and broad industry contacts in the industrial chemicals sector. As per our stated strategy, our acquisitions program is currently concentrated in two primary chemical market segments -- agricultural and industrial. Chuck adds new strength in our ability to grow in the key industrial chemicals segment.” Mears, 62, retired in 2000 from Occidental Chemical Company (Oxy Chem), of Dallas, as executive vice president of the Chlor-Alkali business. This operation had annual sales of approximately $700 million. Prior to that, from 1991 until 1995, he was senior vice president of the Industrial Chemicals Division, with responsibility for the chlor-alkali business, in addition to the chrome and sodium silicate businesses for a portion of that time. Before that and since 1987, Mears held various other management positions within Oxy Chem. Mears served in various capacities with Diamond Shamrock Corporation from 1965 until 1987. He began with the company in industrial chemical sales and advanced to vice president for the Industrial Chemicals Group, where he had full P&L responsibility. He graduated from Stephen F. Austin University in 1965 with a bachelor of science degree. Mears served on the boards of several international chlor-alkali and potassium carbonate joint ventures, as well as on boards of various industry associations, including the Chlorine Institute and the Chlorine Chemistry Counsel. KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully-focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural markets. KMG CHEMICALS FIRST QUARTER FISCAL 2002 RESULTSFirst quarter results meet expectations HOUSTON, November 29, 2001 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, today announced its unaudited financial results for the first fiscal 2002 quarter ended October 31, 2001. For the first fiscal 2002 quarter, net income was $0.42 million or $0.06 per diluted share, down from $0.95 million or $.12 per diluted share reported for the same quarter in 2001. Fiscal first quarter net sales were $8.1 million, down 2.5 percent from $8.3 million in the year earlier period. At the end of the first fiscal 2002 quarter, KMG had total assets of $25.8 million and long-term debt of $1.4 million. Long-term debt to total assets has been decreasing annually from 26.2 percent at fiscal year-end 1998, and was 5.3 percent on October 31, 2001. The company had approximately $3.2 million of cash and cash equivalents at October 31, 2001. David Hatcher, chief executive officer and president of KMG Chemicals, said, "We continue to maintain strong and profitable positions in stable markets, in spite of the current recessionary environment. Our MSMA (agricultural herbicide) plant in Matamoros was recently completed and is producing product. Sales of our Bueno® 6 herbicide should contribute significantly to profitability during the upcoming spring selling season to the domestic cotton-growing markets, which straddles our third and fourth fiscal quarters. Agricultural chemical sales tend to be much more seasonal, so our new MSMA product line will cause our earnings to be skewed toward the second half of our fiscal year. However, based on our existing business, we are well positioned to achieve an increase in earnings for fiscal 2002 compared to the 2001 fiscal year of $.35 per share. Our current earnings per share estimate for the second quarter of fiscal 2002 is in the range of $.04 to $.05. "We have made significant progress in implementing our new merger and acquisition initiative," Hatcher concluded. "To give this perspective, since the beginning of our fiscal year on August 1st., We have evaluated over 20 potential acquisition candidates, and are currently pursuing a select number of those. Our strong balance sheet, healthy cash position and experienced management team will give us an edge in closing accretive acquisitions."
KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural industry. For more information, visit the company's Web site at www.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 ANNOUNCES STARTUP OF MSMA (BUENO® 6) PLANTBusiness model validated; international expansion anticipated HOUSTON, November 15, 2001 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully focused markets, today announced that its MSMA plant in Matamoros, Mexico is completing final tests and is expected to begin commercial production in late November, 2001. The herbicide MSMA, or monosodium methanearsonate, protects cotton crops from undesirable weed and grass growth. It will be marketed under the trade names Bueno® 6 and Ansar ® 6.6, primarily to the cotton-growing regions of the southern states and California. KMG purchased the plant in October 2000 from GB Biosciences Corporation, an affiliate of Zeneca Ag Products Inc. It was relocated and reconstructed on the Matamoros site, on schedule and within budget. Worldwide pesticide registrations and trademarks were included in the acquisition. The company will begin producing MSMA in commercial quantities shortly, in anticipation of the spring 2002 planting season. Wholesale product will be supplied to distribution points in Georgia, South Carolina, Mississippi, California and Texas, and will continue to be packaged in the familiar 2.5-gallon containers. MSMA inventory for 2001 sales had been provided under a tolling agreement with the seller. David Hatcher, chief executive officer and president of KMG Chemicals, said, "Our strategy is to be a very efficient and low-cost producer of quality product. We are the only North American plant producing MSMA and expect to be a major player in the market. Our domestic MSMA sales are projected to be in the $6 million range. Additionally, we expect to become more active in the international MSMA market during 2002, and are currently transferring product registrations in other countries to our name. "We consider this profitable plant acquisition an unqualified success and a tangible validation of our business model. In keeping with our key strategic initiative of growing and diversifying our revenue stream," Hatcher added, "we have already accelerated our search for other niche-market agricultural and industrial chemicals. We are screening many more deals now and the acquisition environment has improved. Our strong balance sheet and cash position give us a definite leg up in our hunt for additional accretive acquisitions. With this in mind, we can confidently say that KMG Chemicals is poised for further growth." KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural industry. For more information, visit the company's Web site at www.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 REPORTS FOURTH QUARTER AND 2001 RESULTSRevenues up, earnings off, financial flexibility for growth HOUSTON, September 6, 2001 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully-focused markets, today announced its unaudited financial results for the fiscal fourth quarter and fiscal year ended July 31, 2001. For the fiscal fourth quarter 2001, net income was $0.9 million or $.12 per share, off from $1.1 million or $.14 per share for the same quarter in 2000, after adjusting for the 10% stock dividend declared in March 2001. Fiscal fourth quarter net sales were $11.2 million, an increase of 25% from $9.0 million in the year earlier quarter. For the fiscal year 2001, net income decreased to $2.6 million or $.35 per share, from $3.8 million or $.50 per share for 2000, after adjusting for the 10% stock dividend. Net sales increased to $35.8 million for the 2001 fiscal year from $33.8 million in the prior year. At the end of fiscal 2001, KMG had total assets of $27.0 million, up 6.7% from the previous year. Long-term debt decreased to $1.6 million or 36.8% lower than a year earlier, to 6.0% of total assets. The company had approximately $3.1 million of cash and cash equivalents at July 31, 2001. "KMG's successful MSMA acquisition (the agricultural herbicide Bueno® 6) in October, 2000 contributed to revenue growth and helped offset market declines in the wood treating business," said David Hatcher, chief executive officer and president of KMG Chemicals. "Commercial demand for treated wood in the United States was below historical levels during the year, as a result of deferred maintenance on the part of the utilities and railroads that use treated wood products in their infrastructure. Despite our 7.4% net profit margin, which outperformed our peer group, we are still not satisfied with our financial results. During the year management completed significant cost control measures, including shift reductions at our Matamoros, Mexico facility, and we continue to pursue other opportunities to increase profitability." During fiscal 2001 the relocation and reconstruction of the MSMA plant to KMG's Matamoros facility continued on schedule and within budget. Hatcher stated that KMG has accelerated its search for other mature, niche-market agricultural and industrial chemicals, and that the number of deals being screened has increased significantly. He further noted that continued industry consolidation and weak overall economic conditions have created an even more attractive acquisition environment. "We have made progress in our key strategic initiative to diversify our revenue stream and are poised for more growth," concluded Hatcher. "Although we know that demand in the wood treatment markets is stable over the long-term, our near-term forecast in the current down cycle is for earnings per share in the range of $.04 to $.05 for the first quarter of fiscal 2002. With our entrance into the agricultural chemicals market, our earnings will be more skewed toward the second half of our fiscal year due to the seasonal nature of that market's sales. Fundamentally, we have strong positions in stable markets and we operate profitably. KMG's strong balance sheet and cash position going forward give our management team a competitive edge in growing the company through additional accretive acquisitions."
KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully-focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural industry. For more information, visit the company's website at www.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. DECLARES CASH DIVIDENDHOUSTON, August 29, 2001 — KMG Chemicals, Inc. (NASDAQ Small Cap: KMGB), a global provider of specialty chemicals in carefully-focused markets, today announced that its Board of Directors has declared a semiannual $0.02 per common share cash dividend. It is payable on September 28, 2001 to shareholders of record as of September 17, 2001. This is in addition to the semiannual cash dividend of $0.02 per share paid on March 30, 2001. KMG's annual dividend rate is $0.04 per common share. As of August 28, 2001, there were approximately 7.5 million common shares outstanding. KMG Chemicals, Inc., through its subsidiaries, produces and distributes specialty chemicals to carefully-focused markets. The company grows by acquiring and managing stable chemical product lines and businesses with established production processes. Its wholly owned subsidiary, KMG Bernuth, Inc. is a global provider of wood preservation chemicals to the lumber treatment industry and herbicides to the agricultural industry. For more information, visit the company's website at www.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 HIRES CHIEF FINANCIAL OFFICER
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