Park Electrochemical Corp. (PKE) reported a fall in second-quarter net earnings to $3.25 million, or $0.16 per share, from $7.67 million, or $0.37 per share last year.
Excluding special items, net earnings were $5.77 million, or $0.28 per share for the quarter, lower than $6.615 million, or $0.32 per share for the 2011 second quarter. On average, 3 analysts polled by Thomson Reuters expected earnings per share of $0.27 for the quarter. Analysts' estimates typically exclude one-time items.
The company reported quarterly net sales of $46.43 million for the second quarter, compared with the prior year's $50.45 million. Analysts estimated revenues of $47.03 million for the quarter.
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