Park Electrochemical Corp. (NYSE:PKE) Q4 2018 Earnings Conference Call - Final Transcript
May 07, 2018 • 11:00 am ET
Good morning. My name is Christie, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Park Electrochemical Corp. Fourth Quarter and Full Year 2018 Earnings Release Conference Call. [Operator Instructions]
At this time, I will turn today's call over to Mr. Brian Shore, Chairman and Chief Executive Officer. Mr. Shore, you may begin your conference.
Thank you very much, operator. First of all, I want to apologize for the late start. We had some last-minute logistics problems, so we've been scrambling for the last half hour, but we made it, at least a little bit late. So sorry about that again.
I have with me, of course, Matt Farabaugh, our CFO. And this is our fourth quarter conference call. So Matt, why don't you get started with the financial analysis? And Matt is going to be reading from the transcript which was already posted on our website. And as you know, there's some detailed information in Matt's commentary, which is posted on our website. So I recommend you check the website for the details.
Go ahead, Matt.
Okay. Thanks, Brian. Certain statements we may make during the course of this discussion which do not relate to historical financial information may be deemed to constitute forward-looking statements. Any forward-looking statements are subject to various factors that could cause actual results to differ materially from our expectations. We have set forth in our most recent annual report on Form 10-K for the fiscal year ended February 26, 2017, various factors that could affect future results.
Those factors are found in Item 1A and after Item 7 of that Form 10-K. Any forward-looking statements we may make are subject to those factors. I'd like to briefly review some of the items in our fiscal year 2018 fourth quarter ended February 25, 2018 P&L, which are not specifically addressed in the earnings release.
During the fiscal year 2018 fourth quarter, North American sales were 62% of sales -- of total sales, European sales were 6% of total sales and Asian sales were 32% of total sales compared to 55%, 7% and 38%, respectively, for the 2017 fiscal year fourth quarter, and 63%, 9% and 28%, respectively, for the 2018 fiscal year third quarter.
Sales of Park's high-performance, non-FR4 electronics materials were 94% of total electronic material sales in each of the 2018 fiscal year fourth quarter and 2017 fiscal year fourth quarter and 93% of total electronics materials sales in the 2018 fiscal year third quarter.
Park's aerospace sales were $9.9 million or 36% of total sales in the 2018 fiscal year fourth quarter compared to $8.2 million or 30% of total sales in the 2017 fiscal year fourth quarter, and $10.2 million or 39% of total sales in the 2018 fiscal year third quarter.
Park's electronics sales were $17.9 million or 64% of total sales in the 2018 fiscal year fourth quarter compared to $19.4 million or 70% of total sales in the 2017 fiscal