Park Electrochemical Q3 Profit Down On Weak Sales - Quick Facts

(RTTNews) - Park Electrochemical Corp. (PKE), an advanced materials company, reported Thursday that its third-quarter net earnings were $1.875 million, lower than last year's $4.109 million.

Earnings per share were $0.09 for the current year's third quarter, compared to $0.20 for last year.

The latest results included pre-tax restructuring charges of $113 thousand related to the closure in fiscal year 2009 of its New England Laminates Co., Inc. facility located in Newburgh, New York. In last year's third quarter, pre-tax restructuring charges were $158 thousand.

Park reported net earnings before special items of $1.94 million, compared to $4.21 million a year ago. Adjusted earnings per share were $0.10, compared to $0.21 last year.

Net sales of $26.46 million declined from previous year's $34.32 million.