MELVILLE, NY – Park Electrochemical Corp. today reported second-quarter sales dropped 24% from last year to $42.5 million.
For the quarter ended August 30, net income slipped 2% from $4.9 million to $4.8 million. Gross profit as a percentage of sales was 25.7%, compared to 19.7% last year.
Year-over-year, first-half sales fell 31% to $79.2 million. Net income tumbled 38% to $7.8 million.
Gross profit for the first six months was 25.4%, compared to 22.1% last year.