Park Electrochemical Q3 Profit Declines - Quick Facts

(RTTNews) - Park Electrochemical Corp. (PKE) reported that its third-quarter net income decreased to $2.03 million from $4.72 million, prior year. Earnings per Share was $0.10, compared to $0.23. Earnings before special items was $0.12 for the quarter.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $34.68 million, compared to $39.68 million, prior year. Analysts expected revenue of $41.25 million for the quarter.

The company also announced that its Board has authorized the company's purchase, on the open market and in privately negotiated transactions, of up to 1.25 million shares of common stock, representing approximately 6% of the total outstanding shares.