KMG Chemicals (NYSE:KMG), a provider of specialty chemicals, announced that net sales were $65.3 million, down 8.7% from the comparable quarter in fiscal 2012, reflecting reduced volumes within the wood treating chemicals business. Gross profit margins increased to 30.7%, from 26.1% in the first fiscal quarter of 2012. Operating income increased 1.6% to $7.1 million vs. $7.0 million in the same period a year ago. Diluted earnings per share were $0.36, up 16% from $0.31 per share in last year's first fiscal quarter.
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