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Park Electrochemical's Sales, Profits Slide in Q3

Published: 09 January 2015
 by Mike Buetow

MELVILLE, NY -- Park Electrochemical reported net sales of $34.7 million for its third quarter ended Nov. 30, down 12.6% from a year ago.

Net earnings were $2.03 million, compared to $4.72 million last year.

Excluding one-time charges net earnings were $2.43 million. During the quarter the printed circuit board laminate supplier took pretax restructuring charges of $496,000 in connection with cost reduction initiatives in the US and $140,000 due to the ongoing closings of Nelco Technology in Zhuhai, China and New England Laminates in Newburgh, NY.

 

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