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Park Electrochemical Says May Sales Off 9% |
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Written by Administrator
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Tuesday, 03 July 2007 |
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NEW YORK – Electronics materials maker Park, parent of Nelco, said net sales in the May quarter fell 9% year-over-year to $57.1 million. Earnings from operations fell $2.1 million, to $7.5 million for the period ended May 27. Net earnings dropped 16.9% to $7.4 million.
The company blamed a drop in printed circuit material demand in North America and Europe, which was partially offset by an increase in sales in Asia. Sales volumes declined 17% in North America and 22% in Europe and increased 12% in Asia during the quarter.
The company said the PWB materials weakness has lasted two quarters. |
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