Park Electrochemical sales, earnings dip
The Melville building where Park Electrochemical's offices are located on July 29, 2014. Credit: Newsday / J. Conrad Williams Jr.
A Melville-based maker of materials for aerospace and printed circuit boards on Tuesday reported a 1.34 percent decline in fourth-quarter net sales to $35.76 million compared with the year-ago period.
Park Electrochemical Corp. reported that net earnings fell by 5.52 percent, to $4.57 million, for the fourth quarter of its fiscal year, which ended Feb. 28.
Net earnings before special items dipped by 2.25 percent, to $4.87 million, for the fourth quarter. In the fourth quarter, the company recorded pretax restructuring charges of $162,000 related to the 2013 closure of a facility in China, among other charges.
Basic and diluted earnings per diluted share were 23 cents for the fourth quarter, unchanged from a year earlier.
Maura McDermott covers education. Since joining Newsday in 2012, she also has worked on the investigations team and covered real estate and the business of health care.
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