|
|
Article: KMG America Reports Net Income for Fourth-Quarter and Full-Year 2004; -- IPO and acquisition of Kanawha Insurance Company completed in December 2004.
- Article from:
- PR Newswire
- Article date:
- March 31, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MINNEAPOLIS, March 31 /PRNewswire-FirstCall/ -- KMG America Corporation today reported net income for fourth quarter and full year 2004. KMG America was formed on January 21, 2004, and commenced its operations shortly before December 21, 2004, when it completed its initial public offering of common stock and used a portion of the proceeds to complete its acquisition of Kanawha Insurance Company. For accounting purposes, Kanawha is treated as KMG America's predecessor entity, and the Kanawha acquisition is treated as if it closed on December 31, 2004. Accordingly, the statement of operations for fourth quarter and full year 2004 are reported for Kanawha on a historical ...