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.

 

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article