Park Aerospace(PKE) - 2025 Q3 - Quarterly Results

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]