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Park Electrochemical Reports First Quarter Results
June 30, 2003 |Estimated reading time: Less than a minute
Lake Success, N.Y. — Park Electrochemical Corp. reported sales of $50 million for the first quarter ended June 1, 2003, compared to $56.5 million for the first quarter of last fiscal year.
Park reported a net loss of $1 million for the current year's first quarter before after-tax charges of $7.4 million related to the previously announced realignment of the company's North American FR-4 business operations and closure of its mass lamination operation in Germany, compared to a net loss of $636,000 for the first quarter of last year. Park's loss per share for the current year's first quarter was 5 cents basic and diluted before the after-tax realignment charges of 38 cents, compared to a loss per share of 3 cents basic and diluted for the first quarter of last year. For the quarter ended June 1, 2003, including realignment charges, Park reported a net loss of $8.5 million and a basic and diluted loss per share of 43 cents.
Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. For more information, visit www.parkelectro.com or www.parknelco.com.