MELVILLE, NY – Park Electrochemical Corp. reported first-quarter sales fell 38% from last year to $36.7 million.
The company cites weak sales of printed circuits for telecommunications and Internet infrastructure companies for the decline.
For the quarter ended May 31, net earnings were $3.1 million, compared to $7.6 million last year. Gross profit was 25.1%.
Interest income for the quarter was $688,000, compared to $1.7 million last year.