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Park Aerospace Corp. (PKE+2.70%) has filed its Form 10-Q filing for the quarterly period ended December 1, 2024.
The filing reports net sales of $14.4 million for the 13 weeks ended December 1, 2024, compared to $11.6 million in the same period the previous year. For the 39 weeks ended December 1, 2024, net sales were $45.1 million, up from $39.7 million in the prior year.
Gross profit for the 13 weeks ended December 1, 2024 was $3.8 million, compared to $3.2 million in the same period the previous year. For the 39 weeks ended December 1, 2024, gross profit was $12.7 million, up from $12.1 million in the prior year.
The company reported earnings from operations of $1.8 million for the 13 weeks ended December 1, 2024, compared to $1.4 million in the same period the previous year. For the 39 weeks ended December 1, 2024, earnings from operations were $6.5 million, up from $5.8 million in the prior year.
Net earnings for the 13 weeks ended December 1, 2024 were $1.6 million, up from $1.2 million in the same period the previous year. For the 39 weeks ended December 1, 2024, net earnings were $4.6 million, compared to $4.8 million in the prior year.
The company recorded a storm damage charge of $1.1 million for the 39 weeks ended December 1, 2024, related to damage at its manufacturing facilities in Newton, Kansas.
Cash and cash equivalents and marketable securities totaled $70.0 million as of December 1, 2024, down from $77.2 million as of March 3, 2024.
The company paid $7.6 million in cash dividends during the 39 weeks ended December 1, 2024, compared to $28.1 million in the same period the previous year, which included a $20.5 million special cash dividend.
Park Aerospace Corp. continues to experience cost inflation in raw materials, supplies, and freight, partially offset by pricing adjustments to customers.
The company has a long-term contract with a customer that represents a significant portion of its revenue. This contract is requirements-based and does not guarantee quantities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Park Aerospace Corp. quarterly 10-Q report dated January 15, 2025. To report an error, please email earnings@qz.com.