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Park Electrochemical's May Quarter Sales Take Dive

Published: 23 June 2015
 by Mike Buetow

MELVILLE, NY -- Park Electrochemical reported net sales of $37.8 million for its fiscal first quarter ended May 31, down 22.5% from a year ago. Sales were up 4.4% sequentially for the period.  

Net earnings for the quarter were $4.77 million, down 42% from last year and down 1% sequentially.

Net earnings before one-time items were $4.9 million. During the quarter the PCB laminate maker recorded pretax restructuring charges of $124,000 related to the fiscal 2013 closing of Nelco Technology (Zhuhai FTZ) in China, and the fiscal 2009 closing of its New England Laminates Co. facility located in Newburgh, NY.

 

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