Core Viewpoint - Park Aerospace Corp. has appointed Constantine ("Gus") Petropoulos as Senior Vice President-Administration and General Counsel, indicating a strategic move to leverage his extensive experience in the aerospace sector [1][3]. Company Overview - Park Aerospace Corp. specializes in developing and manufacturing advanced composite materials for the global aerospace markets, including film adhesives and lightning strike protection materials [3]. - The company's product offerings are utilized in various applications, such as jet engines, transport aircraft, military aircraft, UAVs, business jets, and rocket motors [3]. - Park Aerospace aims to tackle projects that are considered too difficult or small by others, positioning itself as a unique player in the aerospace materials industry [3]. Leadership Background - Gus Petropoulos has a robust legal background, having served as a Partner at Hughes, Hubbard & Reed and previously as Senior Vice President and General Counsel at Park Aerospace [2]. - His prior experience includes roles at Scientific Games Corporation and Coca-Cola HBC SA, showcasing a diverse legal and corporate governance expertise [2]. Immediate Focus - Brian Shore, Chairman and CEO, expressed confidence in Gus Petropoulos's ability to quickly engage with ongoing matters, highlighting the immediate challenges and opportunities awaiting him [3].

Company Overview - Park Aerospace Corp. has paid a total of $601.1 million in cash dividends, equating to $29.35 per share, since the beginning of the 2005 fiscal year [1] - The company has maintained a record of 40 consecutive years of regular quarterly cash dividends without skipping or reducing payments [2] - Park Aerospace Corp. was founded in 1954 and has grown from a small operation in a garage to a significant player in the aerospace materials market [3] Product and Market Focus - The company develops and manufactures advanced composite materials for the global aerospace markets, including film adhesives and lightning strike protection materials [3] - Park's composite materials are utilized in various applications, including jet engines, transport aircraft, military aircraft, UAVs, business jets, and rotary wing aircraft [3] - The company also provides specialty ablative materials for rocket motors and radome applications, as well as composite parts and tooling for the aerospace industry [3] Corporate Philosophy - Park Aerospace Corp. aims to tackle projects that others may find too difficult or unappealing, positioning itself as a solution provider for niche markets within the aerospace sector [3]

Financial Data and Key Metrics Changes - Q3 sales were $14.4 million, exceeding the forecast range by approximately $150,000, but adjusted EBITDA was significantly below expectations at $2.4 million, compared to a forecast of $3 million to $3.3 million [10][11][48] - Gross margin for Q3 was reported at 26.6%, which is below the company's preferred threshold of 30% [10][11] Business Line Data and Key Metrics Changes - The sales value of production (SVP) for Q3 was $13.2 million, indicating a shortfall of $1.2 million compared to sales, which negatively impacted EBITDA by approximately $300,000 [13][15] - The company is ramping up new manufacturing lines, which are expected to run 25% to 50% faster than existing lines once optimized [18][19] Market Data and Key Metrics Changes - The company is experiencing challenges in production due to the ramp-up of new manufacturing lines and a relatively new workforce, which has temporarily reduced productivity [25][26] - The ongoing requalification of C2B fabric by a key customer has halted the production of ablative materials, leading to no sales from this segment during Q3 [34][37] Company Strategy and Development Direction - The company is preparing for a significant increase in demand, referred to as the "Juggernaut," by ramping up production capabilities despite short-term inefficiencies [20][23] - A focus on niche military aerospace programs continues, with ongoing partnerships and contracts expected to drive future revenue growth [57][111] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future sales once the requalification of C2B fabric is completed, anticipating significant sales contributions in fiscal 2026 [42][44] - The company acknowledged the impact of supply chain constraints on production and sales, but remains committed to preparing for increased demand in the aerospace sector [100][101] Other Important Information - The company has increased its workforce to 134 employees, up from 124 at the end of Q2, which has temporarily increased costs but is necessary for future production needs [28][30] - Significant ongoing expenses related to operating the new factory were noted, including depreciation and overhead costs [50] Q&A Session Summary Question: Why was Q3 EBITDA significantly below forecast despite higher sales? - Management indicated that the production shortfall and reduced productivity due to new manufacturing lines and workforce training were key factors [48][49] Question: What is the expected timeline for the requalification of C2B fabric? - The requalification is expected to be completed by March, after which significant sales of ablative materials are anticipated [42][44] Question: How is the company addressing the challenges in production? - The company is focusing on optimizing new manufacturing lines and training new employees to improve productivity [25][26]

Core Viewpoint - Park Aerospace Corp. clarifies that there was no recall of its supplier's products, correcting misinformation from independent transcriptions and news articles regarding its fiscal year 2025 third quarter Investor Conference Call and Presentation [1][2][3]. Group 1: Company Clarification - The term "requalification" was incorrectly reported as "recall" by independent transcription services and news articles, leading to potential misunderstandings about the company's operations [2][3]. - The company emphasizes that there was no mention of a recall in its third quarter Investor Presentation or Conference Call, and the term "recall" was never used [2][3]. - The company is not responsible for the accuracy of independent transcriptions and has no obligation to correct inaccuracies in such reports [3]. Group 2: Company Operations - Park Aerospace Corp. develops and manufactures advanced composite materials for the aerospace industry, including film adhesives and lightning strike protection materials [5]. - The company's products are utilized in various aerospace applications, including jet engines, military aircraft, and drones, as well as specialty materials for rocket motors and radome applications [5]. - Park's objective is to tackle projects that others may find too challenging or unappealing, focusing on niche markets within the aerospace sector [5].

PARK AEROSPACE CORP. FY2025 Q3 Investor Conference Call January 14, 2025 ***Celebrating Park's 70th Anniversary*** Forward Looking Disclaimer This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance, and include Pank's expectations regarding revenues, Adjusted EBITDA, EBIT, and gro ...

Financial Performance - The Company's net sales for the 13 weeks ended December 1, 2024, were $14.4 million, a 23.8% increase from $11.6 million in the same period last year [72]. - For the 39 weeks ended December 1, 2024, net sales reached $45.1 million, up 13.7% from $39.7 million in the prior year [72]. - Net earnings for the 13 weeks ended December 1, 2024, were $1.577 million, a 31.1% increase from $1.203 million in the prior year [83]. - The Company's net earnings for the 13 weeks ended December 1, 2024, were $1.6 million, an increase from $1.2 million for the same period in 2023, while net earnings for the 39 weeks were $4.6 million, down from $4.8 million [96]. - Basic and diluted earnings per share for the 13 weeks ended December 1, 2024, were $0.08 and $0.23, respectively, compared to $0.06 and $0.24 for the same period in 2023 [97]. Expenses and Costs - Gross profit margins for the 13 weeks ended December 1, 2024, were 26.6%, down from 27.2% in the same period last year [75]. - Selling, general and administrative expenses increased by 9.9% during the 13 weeks ended December 1, 2024, compared to the prior year's comparable period [88]. - The Company continues to face inflationary pressures on raw materials and supplies, but has been able to pass some of these costs onto customers [78]. Cash Flow and Dividends - Net cash provided by operating activities for the 39 weeks ended December 1, 2024, was $3.7 million, compared to a net cash used of $886,000 for the same period in 2023 [99]. - The Company paid $7.6 million in cash dividends during the 39 weeks ended December 1, 2024, significantly lower than $28.1 million in the same period in 2023, which included a special cash dividend of $20.5 million [101]. Assets and Liabilities - Cash and cash equivalents and marketable securities decreased to $70.0 million as of December 1, 2024, from $77.2 million on March 3, 2024, a change of $7.2 million [98]. - Accounts receivable decreased by 22% at December 1, 2024, compared to March 3, 2024, while inventories increased by 65% during the same period [102]. - The Company's current ratio was 7.6 to 1.0 at December 1, 2024, down from 10.2 to 1.0 at March 3, 2024 [103]. Other Financial Activities - The Company recorded a charge of $1.1 million related to storm damage and repair costs for the 39 weeks ended December 1, 2024 [71]. - Interest income increased by 11.1% and 20.7% for the 13 weeks and 39 weeks ended December 1, 2024, respectively, due to higher interest rates [92]. - The Company purchased treasury shares totaling $4.3 million during the 39 weeks ended December 1, 2024, compared to $2.9 million in the same period in 2023 [104]. - The Company believes its financial resources will be sufficient for continued investment in working capital and general corporate purposes for the foreseeable future [105]. - The Company is not engaged in any off-balance sheet financing arrangements, ensuring its liquidity is not dependent on such methods [108]. Future Expectations - The Company expects all repairs from storm damage to be completed in the first quarter of fiscal year 2026 [71].

Financial Performance - Park Aerospace Corp. reported net sales of $14,408,000 for Q3 2025, a 23.7% increase from $11,639,000 in Q3 2024, but a decrease from $16,709,000 in Q2 2025[3] - Net earnings for Q3 2025 were $1,577,000, up 31.1% from $1,203,000 in Q3 2024, but down from $2,066,000 in Q2 2025[3] - Adjusted EBITDA for Q3 2025 was $2,415,000, representing a 33.5% increase from $1,808,000 in Q3 2024, but a decrease from $3,206,000 in Q2 2025[5] - Basic and diluted earnings per share for Q3 2025 were $0.08, compared to $0.06 in Q3 2024 and $0.10 in Q2 2025[7] - For the first nine months of fiscal 2025, net sales totaled $45,087,000, a 13.9% increase from $39,671,000 in the same period of fiscal 2024[3] - Net earnings for the first nine months of fiscal 2025 were $4,636,000, slightly down from $4,803,000 in the same period of fiscal 2024[3] - Net earnings before special items for Q3 2025 were $1,577,000, compared to $1,203,000 in Q3 2024, indicating a 31.1% increase[4] - Basic earnings per share before special items for the first nine months of fiscal 2025 were $0.27, compared to $0.26 in the same period of fiscal 2024[8] Asset and Liability Management - Total current assets decreased from $98,845 thousand in March 2024 to $92,564 thousand in December 2024, a decline of approximately 6.5%[17] - Total liabilities increased from $19,395 thousand in March 2024 to $16,864 thousand in December 2024, indicating a reduction of approximately 13.1%[17] - Cash and marketable securities decreased from $77,211 thousand in March 2024 to $70,042 thousand in December 2024, a decline of about 9.2%[17] - The equity per share increased from $5.58 in March 2024 to $5.39 in December 2024, reflecting a decrease of approximately 3.4%[17] Operational Highlights - Park Aerospace Corp. continues to focus on developing advanced composite materials for the aerospace market, including new product lines and technologies[13] - Selling, general & administrative expenses as a percentage of net sales decreased to 13.8% in the 13 weeks ended December 1, 2024, compared to 15.5% in the same period of 2023[18] - Gross profit margin for the 13 weeks ended December 1, 2024, was 26.6%, slightly down from 27.2% in the previous year[18] Impact of External Factors - The company recorded $1,098,000 in pre-tax charges related to storm damage during the first nine months of fiscal 2025[6] - The company reported a storm damage charge of $1,098 thousand for the 39 weeks ended December 1, 2024, impacting net earnings[19] - Net earnings for the 39 weeks ended December 1, 2024, were $4,636 thousand, a decrease of 3.5% from $4,803 thousand in the same period of 2023[19] - Adjusted EBITDA for the 39 weeks ended December 1, 2024, increased to $8,231 thousand, up from $7,788 thousand in 2023, reflecting a growth of 5.7%[19]

NEWTON, Kan., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) reported results for the 2025 fiscal year third quarter ended December 1, 2024. The Company will conduct a conference call to discuss its financial results and other matters at 5:00 p.m. EST today. A live audio webcast of the event, along with presentation materials, will be available at https://edge.media-server.com/mmc/p/7jbapomd at 5:00 p.m. EST today. The presentation materials will also be available at approximately 4:15 p. ...

Company Overview - Park Aerospace Corp. develops and manufactures advanced composite materials for the global aerospace markets, including film adhesives and lightning strike protection materials [2] - The company's products are utilized in various aerospace applications, including jet engines, transport aircraft, military aircraft, UAVs, business jets, and rocket motors [2] - Park Aerospace aims to tackle projects that others find too difficult or unappealing, focusing on niche markets and specialized applications [2] Upcoming Events - Brian E. Shore, Chairman and CEO of Park Aerospace, will speak at the 27th Annual Needham Growth Conference on January 16, 2025, at 2:15 p.m. EST [1] - The presentation will be available via live audio webcast, with archived replay accessible for 90 days [1] - Presentation materials will be released on the company's website on the same day at approximately 8:30 a.m. EST [1]

NEWTON, Kan., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE - PKE) announced that it plans to release its financial results for its 2025 fiscal year third quarter ended December 1, 2024 after the New York Stock Exchange closes on Tuesday, January 14, 2025. The Company will conduct a conference call to discuss such results at 5:00 p.m. EST on the same day. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (877) 407-39 ...