MELVILLE, NY – Park Electrochemical reported fiscal third quarter net sales of $26.1 million, down 1.2% year-over-year and 12.4% sequentially. For the quarter ended Nov. 26, Park posted net earnings of $716,000, compared to $1.88 million for the prior year quarter and $520,000 for the fiscal second quarter.
Park's net sales for the nine months ended Nov. 26 were $83.4 million, down 4.2% year-over-year. Net earnings were $2.63 million, down 61.4% year-over-year.
Park also announced it is conducting a strategic evaluation, including the potential sale, of its high-technology digital and radio frequency/microwave printed circuit materials business, collectively the Electronics Business. Park expects to conclude its strategic evaluation in the second quarter of its 2019 fiscal year ending Mar. 3, 2019.