$PKE (Park Electrochemical Corp.)

$PKE {{ '2016-10-06T12:27:11+0000' | timeago}} • Announcement

Telecommunications and network equipment components provider $PKE reported a drop in 2Q17 earnings due to lower sales and a rise in selling, general and administrative expenses. Net income dropped to $1.98MM or $0.10 per share from $4.57MM or $0.23 per share last year. Sales fell to $29.06MM from $37.95MM.

$PKE {{ '2017-06-28T15:50:03+0000' | timeago}} • Webcast

$PKE said it is actively carrying out marketing programs in Asia, where it hopes to see growth by 2H18. The company said it expects continued decline in revenue from legacy products, and hence are trying to offset it through revenue from new products.

$PKE {{ '2017-06-28T15:16:50+0000' | timeago}} • Webcast

In 1Q18, $PKE's North American sales were 56% of total sales; European sales were 7%; and Asian sales were 37% of total sales, compared to 53%, 8% and 39% respectively in the year-over period.

$PKE {{ '2017-06-28T11:11:29+0000' | timeago}} • Announcement

Earnings halved in 1Q18 for $PKE, a developer of advanced composite materials. Net income was $1.4MM, or $0.07 per share, compared to $3MM, or $0.15 per share a year ago. Excluding special items, $PKE earned $0.12 per share during the quarter. Sales slid 13% to $27.4MM.

$PKE {{ '2017-06-26T21:12:40+0000' | timeago}} • Announcement

$PKE said its subsidiary, Park Aerospace Technologies Corp., entered into a long-term agreement with MRA Systems, LLC, a subsidiary of GE Aviation, for the purchase of composite materials used in the manufacture of engine nacelles and thrust reversers.

$PKE {{ '2017-05-16T11:54:50+0000' | timeago}} • Announcement

$PKE appointed John Jamieson as the President of Neltec Inc., its electronics Business Unit based in Tempe, Arizona. In this new role, Jamieson will report to Mark Esquivel, $PKE's VP Aerospace and President of Park Aerospace Technologies Corp., its aerospace Business Unit located in Newton, Kansas.

$PKE {{ '2017-04-20T20:35:13+0000' | timeago}} • Announcement

$PKE appointed Patrick Crowley as the President of Neltec Inc., its electronics Business Unit located in Tempe, Arizona. Crowley will report to Mark Esquivel, $PKE's VP Aerospace and President of Park Aerospace Technologies Corp., its aerospace Business Unit located in Newton, Kansas.

$PKE {{ '2017-01-09T18:43:32+0000' | timeago}} • Announcement

$PKE announced the appointment of Frank Alberto, Jr. as President of Nelco Products Pte. Ltd., $PKE’s Asian Business Unit based in Singapore.  Mr. Alberto will report to Chris Mastrogiacomo, President and COO. Mr. Alberto is succeeding Ron Brett who has retired.

$PKE {{ '2017-01-05T17:26:10+0000' | timeago}} • Webcast

$PKE stated that self driving vehicles would relate to RF electronics and in this area the company is not strong enough. $PKE added that it is facing manpower challenges in the aerospace business.

$PKE {{ '2017-01-05T16:50:59+0000' | timeago}} • Webcast

$PKE plans to restructure the California and Arizona facilities and make them as one business unit. Within a month, the company will plan about the restructuring. Once the company completes the restructuring, which is expected to be completed in six months, $PKE expects $3-4MM benefit per year and one-time costs of about $3-4MM.

$PKE {{ '2017-01-05T16:34:21+0000' | timeago}} • Webcast

$PKE said that if the tax law changes, the company expects to pay cash dividends and also look for acquisition opportunities. The company added that when the new tax law is enacted, it would intend to give large dividend or will return cash to shareholders through some other way, subject to restrictions that would be imposed by the government.

$PKE {{ '2017-01-05T16:19:53+0000' | timeago}} • Webcast

During 3Q17, $PKE's North American sales were 49% of total sales, European sales were 10% of total sales and Asian sales were 41% of total sales, compared to 53%, 7% and 40%, respectively, for 3Q16. The top five customers were Daeduck Electronics, GE, Sanmina, TTM, and Wus, and they accounted for approx. 36% of the company's total sales.

$PKE {{ '2017-01-05T11:57:42+0000' | timeago}} • Announcement

$PKE recorded pre-tax restructuring charges of $113,000 in 3Q17 related to the closure in FY09 of its New England Laminates Co. facility located in Newburgh, New York. In comparison, in 3Q16, $PKE recorded pre-tax restructuring charges of $158,000 related to facility closure and closure in FY13 of Nelco Technology facility located in Zhuhai, China.

$PKE {{ '2017-01-05T11:54:40+0000' | timeago}} • Announcement

$PKE reported a drop in 3Q17 earnings due to lower sales. Net income fell to $1.88MM or $0.09 per share from $4.11MM or $0.20 per share last year. Sales dropped to $26.46MM from $34.32MM. Before special items, EPS tumbled to $0.10 from $0.21.

$PKE {{ '2016-10-06T16:15:01+0000' | timeago}} • Webcast

$PKE is not seeing big opportunities in the self-driving automobile space. This is because, the company's radio frequency business, which connects it to the self-driving automobile industry, is not its focus area. However, $PKE said it is working on the segment.

$PKE {{ '2016-10-06T15:19:41+0000' | timeago}} • Webcast

For 2Q17, $PKE's top five customers were Data Electronics, GE, Sanmina, TTM and Wus, in alphabetical order. The top five customers totaled approx. 39% of total sales during 2Q17. Top 10 customers totaled approx. 51% of total sales and the top 20 customers totaled about 66% of total sales for 2Q17.

$PKE {{ '2016-10-06T15:11:31+0000' | timeago}} • Webcast

$PKE stated that Park's electronic sales were $20.2MM or 70% of total sales in 2Q17, compared to $26.2MM or 69% of total sales last year. Park's aerospace sales were $8.8MM or 30% of total sales in 2Q17, compared to $11.8MM or 31% of total sales in 2Q16.

$PKE {{ '2016-10-06T15:09:32+0000' | timeago}} • Webcast

$PKE said that in 2Q17, North American sales were 55% of total sales, European sales were 7% of total sales, and Asian sales were 38% of total sales, compared to 56%, 6%, and 38% respectively for 2Q16. Sales of Park's high-performance non-FR-4 electronics materials were 93% of total electronics material sales, flat with the prior year.

$PKE {{ '2016-10-06T12:29:01+0000' | timeago}} • Announcement

$PKE's net earnings before special items for 2Q17 fell to $1.99MM or $0.10 per share from $4.64MM or $0.23 per share in the previous year quarter. In the latest quarter, $PKE recorded pre-tax restructuring charges of $23,000 related to the closure in FY09 of its New England Laminates Co. facility located in Newburgh, New York.

$PKE {{ '2016-10-06T12:27:11+0000' | timeago}} • Announcement

Telecommunications and network equipment components provider $PKE reported a drop in 2Q17 earnings due to lower sales and a rise in selling, general and administrative expenses. Net income dropped to $1.98MM or $0.10 per share from $4.57MM or $0.23 per share last year. Sales fell to $29.06MM from $37.95MM.

$PKE {{ '2016-06-29T16:41:29+0000' | timeago}} • Webcast

$PKE said Asia, particularly China, was a good growth driver of electronic sales in 1Q17. Aerospace revenues were down. $PKE expects aerospace top line to improve in 2Q17. In electronics, $PKE signed a joint development agreement with a large electronics company in Asia and the development activities are proceeding.

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