MELVILLE, NY -- Park Electrochemical today reported fiscal third quarter net sales of $26.5 million, down 22.7% from a year ago.

For the period ended Nov. 27, net income fell 54% to $1.88 million. Net earnings before special items were $1.94 million, down from $4.2 million

 On a sequential basis, sales were down 8.9% and net income was off 5.4%.

Year to date net sales were $87 million, down from $110.1 million the previous nine months. Net earnings slild to $6.81 million from $135 million. 

Park took pretax restructuring charges of $113,000 related to the closure in fiscal 2009 of its New England Laminates facility. 

For the nine-month period ended Nov. 27, Park reported net earnings before special items of $6.93 million, versus $13.7 million in the previous fiscal year’s first nine-month period. The firm took pretax restructuring charges of $206,000 and $373,000, respectively, related to facility closures during the periods.

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