Profits fall 32 percent at Park Electrochemical
![Park Electrochemical chief executive Brian Shore](/_next/image?url=https%3A%2F%2Fcdn.newsday.com%2Fimage-service%2Fversion%2Fc%3AZTM1OThkZGYtMzE5Zi00%3AOGZmNmM4%2Fpark-electrochemical-chief-executive-brian-shore.jpg%3Ff%3DLandscape%2B16%253A9%26w%3D770%26q%3D1&w=1920&q=80)
Park Electrochemical chief executive Brian Shore Credit: Handout
Park Electrochemical Corp. said Monday that its fiscal first-quarter profit tumbled 32 percent as sales fell 11 percent.
The Melville company, which provides components for telecommunications and network equipment, said its net income fell to $4.9 million, or 24 cents per share, down from $7.2 million, or 35 cents per share, a year ago.
The earnings matched the estimates of three analysts polled by FactSet.
For the quarter ended May 27, revenue fell to $46 million from $51.8 million a year ago.
The company's cost of sales fell 7.7 percent to $33.1 million, while selling, general and administrative expenses dropped 6.5 percent to $7.1 million.
Pictured above: Park Electrochemical chief executive Brian Shore.
![](/_next/image?url=https%3A%2F%2Fcdn.newsday.com%2Fimage-service%2Fversion%2Fc%3ANmEwODdhYzMtMDJjZi00%3AYjE4OTJh%2Fb7461-mp4-20_44_11_12-still001-jpg.jpg%3Ff%3DLandscape%2B16%253A9%26w%3D770%26q%3D1&w=1920&q=80)
Updated now Newsday travel writer Scott Vogel took the ferry over to Block Island for a weekend of fun.
![](/_next/image?url=https%3A%2F%2Fcdn.newsday.com%2Fimage-service%2Fversion%2Fc%3ANmEwODdhYzMtMDJjZi00%3AYjE4OTJh%2Fb7461-mp4-20_44_11_12-still001-jpg.jpg%3Ff%3DLandscape%2B16%253A9%26w%3D770%26q%3D1&w=1920&q=80)
Updated now Newsday travel writer Scott Vogel took the ferry over to Block Island for a weekend of fun.