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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Park Electrochemical Net Sales Decline From Last Year 0 comments
    Jan 10, 2014 12:06 PM | about stocks: PKE

    Originally published at www.seclive.com

    Park Electrochemical Corp. (NYSE:PKE) has announced its third quarter financial results for the 2013 fiscal year, reporting a decline in sales from a year ago. Net sales were $39.7M, down from $41.3M this quarter last year. Earnings this quarter were $4.72M and $0.23 per share, a decline from the $5.11M last year but flat with respect to earnings per share. Of significance this quarter was the impact of a $559K restructuring charge related to the closure of its Nelco Technology facility in the Free Trade Zone of Zhuhai, China, as well as the closure of its Waterbury, Connecticut Park Advanced Composite Materials facility. The company's tax rate decreased substantially from a year ago at 18.2% to 3.3% because of increased amounts of its taxable income falling inside jurisdictions with low tax rates and incentives.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: PKE
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