MELVILLE, NY – Park Electrochemical Corp. reported net sales of $43.7 million for the fourth quarter ended Feb. 26, down 14.6% year-over-year.

The firm reported net earnings before special items of $3.9 million, down 53% year-over-year.

In the fourth quarter, the firm recorded a restructuring charge of $1.25 million in connection with the closing of its Park Advanced Composite Materials facility in Waterbury, CT.

Park’s net sales for the fiscal year were $193.3 million, down 8.7% compared to last year.

Net earnings before special items were $23.2 million, down 32% year-over-year.

Park Electrochemical develops and manufactures digital and RF/microwave printed circuit materials.