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Park Electrochemical Profits Up on Special Items

Published: 30 September 2013
 by Staff

MELVILLE, NY -- Park Electrochemical reported second-quarter net sales of $44.5 million, down 3.2% from a year ago. For the period ended Sept. 1, the printed circuit laminate manufacturer reported net earnings of $8.1 million, up from $3.3 million in the August 2012 quarter.

The net profit includes one-time items of $5.98 million, including $2.18 million in tax refunds related to amended federal income tax returns, pretax restructuring charges of $119,000 related to the closure of Nelco Technology (Zhuhai FTZ). Park took a $2.5 million charge in the second quarter of the last fiscal year.

Park is the parent company of Nelco.

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