Printed Circuit Design & Fab Online Magazine - Park Electrochemical Restructurings Start to Show Returns

ENEPIG Corrosion Mechanisms
Different types of nickel corrosion and potential mitigation strategies.
READ MORE...
The Future is Thin, Flat and Flexible
What’s ahead for antennas, heaters and inks.
READ MORE...
Royalty Flush
A noted solutions architect offers an audacious plan for AI acceptance. It just might work.
READ MORE...
Rocking and Rolling at ZIW
The annual user event was tuned into AI, but that’s not the only melody being played.
READ MORE...
Can Thailand Pad its PCB Gains?
2023 saw only a handful of fabricators gain ground, but SE Asia is primed to boom.
READ MORE...

Printed Circuit Design & Fab Magazine

MELVILLE, NY -- Park Electrochemical's net income more than doubled for its fiscal third quarter ended Nov. 29, the company said today.

Net sales were down 1% year-over-year to $34.3 million, the printed circuit laminates maker added.

Net earnings before special items were $4.21 million, versus $2.43 million last year. The company took pretax restructuring charges of $158,000 related to the fiscal 2013 closure of its Nelco Technology (Zhuhai FTZ) facility in China and the fiscal 2009 closure of its New England Laminates facility in Newburgh, NY.

Park took $636,000 in pretax restructuring charges In last year’s third quarter.

Net earnings after taxes and one-time charges for the quarter were $4.11 million, up from $2.03 million a year ago.

Year-to-date sales are down 12.6% to $110.1 million.