Park Electrochemical reports 3Q results

Park Electrochemical Corp. reported sales of $68,195,000 for its 2007 fiscal year third quarter ended November 26, 2006 compared to sales of $57,159,000 for the third quarter of last year. Park's sales for the first nine months were $197,551,000 compared to sales of $165,277,000 for last year's first nine months.

Park reported net earnings of $9,529,000 for the third quarter ended November 26, 2006 compared to net earnings before special items of $8,233,000 for the third quarter ended November 27, 2005. During last year's third quarter, the Company recognized a tax benefit of $1,512,000 relating to the elimination of certain valuation allowances previously established related to deferred tax assets in the United States. Accordingly, net earnings were $9,529,000 for the third quarter ended November 26, 2006 compared to net earnings of $9,745,000 for the third quarter ended November 27, 2005.

Park reported diluted earnings per share before special items of $.47 and $1.32, respectively, for the third quarter and nine-month period ended November 26, 2006, compared to $.41 and $1.03, respectively, for last year's third quarter and nine-month period. Diluted earnings per share after special items were $.47 and $1.52, respectively, for the third quarter and nine month period ended November 26, 2006 compared to $.48 and $1.05, respectively, for last year's third quarter and nine-month period.