Park Electrochemical Corp. (NYSE:PKE) Q2 2021 Earnings Conference Call - Final Transcript

Oct 08, 2020 • 11:00 am ET


Park Electrochemical Corp. (NYSE:PKE) Q2 2021 Earnings Conference Call - Final Transcript


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Good morning. My name is Shannon, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Park Aerospace Corp. Second Quarter Fiscal Year '21 Earnings Release Conference Call and Investor Presentation.

[Operator Instructions] After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. 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.

Brian Shore

Thank you very much, Shannon. So this is Brian Shore -- this is Brian, and I have with me as usual Matt Farabaugh, our CFO. Welcome to our second quarter investor conference call. So we filed our earnings release this morning, I think about 6:30 AM New York Time. It will be important for you to access that, and also in an earnings release are instructions as to how to access the presentation that we'll be going through. And it's really recommended you get the presentation in front of you to make this call out more meaningful. Also just an FYI, there is supplemental financial information that's attached to the presentation as Appendix 1, I think it's called.

So just a little bit of the introductory comment. So Q4, Q1 calls -- Q4 of last year, Q1 of this year, I went into great detail about the impact of the virus and the economic crisis on Park in the aerospace industry. We will touch on those things today, but we're not going to go back and rehash everything. It's just too much. What we try to do in these calls is kind of mix it up a little bit. We don't try to cover everything, these presentations take a long time to go through as they -- as is. So we can't -- we don't really try to cover everything, try to mix up like I said. But at the end of the presentation, I'll be sure we'll take questions. So you feel free to ask any questions you want, about any topics you want.

So we're going to go ahead and start the presentation. And like I said, after we're done with that, we'll go right into questions. So I want to give you a little warning though, I think the -- it will take at least half an hour to go through the presentation. So buckle up. Why don't we just get right at it then. We'll go to Slide 2 please. That's our forward-looking disclaimer language. Let us know if you have any questions about that, you call us afterwards, of course.

Slide 3, get right into it here, the fiscal '21 Q2 results. So it's highlighted obviously in the right hand column with the yellow highlight. So we're showing the effects of the downturn in the aerospace industry, particularly commercial aircraft, and we could see the top line, $9,250,000. The gross profit is down, gross profit margin is down below 30%. Now, we'd like to see an