Park Electrochemical reports drop in 2nd quarter earnings, sales
The office building where Park Electrochemical is located in Melville is shown in this file photo taken on July 29, 2014. Credit: Newsday / J. Conrad Williams Jr.
Park Electrochemical Corp., a maker of materials for aerospace and printed circuit boards, on Wednesday reported a 10.6 percent decline in second-quarter net sales to $37.9 million compared with the year-ago period.
Net income at the Melville company fell 7.5 percent to $4.6 million versus the prior year's quarter. Gross profit as a percentage of net sales shrank more than 1 percentage point to 27.3 percent. Earnings per diluted share were 23 cents compared with 24 cents in the 2014 quarter.
Shares of Park fell 3.9 percent Wednesday to close at $17.74.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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