Park Electrochemical Corp. (PKE) reported that its third-quarter net income decreased to $4.71 million from $5.38 million last year. Net earnings before special items was $5.11 million for the third quarter ended November 25, 2012. Earnings per share were $0.23 compared to $0.26 for last year's third quarter. Earnings per share before special items was $0.25 for the quarter.
During the 2013 fiscal year's third quarter, the company recorded additional pre-tax charges of $559 thousand in connection with the closure of its Nelco Technology Ltd.
On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.29 for the quarter. Analysts' estimates typically exclude speical items.
Net sales were $41.26 million compared to $47.31 million last year. Analysts expected revenue of $47.25 million for the quarter.
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