Park Electrochemical Bottom Line Declines 54% In Q3

(RTTNews) - Park Electrochemical (PKE) announced a profit for third quarter that lost ground from last year.

The company said its profit dropped to $1.94 million, or $0.10 per share. This was lower than $4.21 million, or $0.21 per share, in last year's third quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 22.9% to $26.46 million. This was down from $34.32 million last year.

Park Electrochemical earnings at a glance:

-Earnings (Q3): $1.94 Mln. vs. $4.21 Mln. last year. -Earnings Decline (Y-o-Y): -53.9% -EPS (Q3): $0.10 vs. $0.21 last year. -EPS Decline (Y-o-Y): -52.4% -Analysts Estimate: $0.12 -Revenue (Q3): $26.46 Mln vs. $34.32 Mln last year. -Revenue Change (Y-o-Y): -22.9%