Park Aerospace(PKE) - 2025 Q4 - Annual Results

Financial Performance - Park Aerospace Corp. reported net sales of $16,939,000 for Q4 2025, a 3.7% increase from $16,333,000 in Q4 2024, and a 17.5% increase from $14,408,000 in Q3 2025[2] - Net earnings for Q4 2025 were $1,246,000, down 53.3% from $2,670,000 in Q4 2024, and down 21% from $1,577,000 in Q3 2025[2] - Adjusted EBITDA for Q4 2025 was $3,418,000, an increase of 6.8% from $3,201,000 in Q4 2024, and a 41.6% increase from $2,415,000 in Q3 2025[4] - Basic and diluted earnings per share for Q4 2025 were $0.06, compared to $0.13 in Q4 2024 and $0.08 in Q3 2025[6] - For the fiscal year 2025, net sales were $62,026,000, a 10.4% increase from $56,004,000 in fiscal year 2024[2] - Net earnings for the fiscal year 2025 were $5,882,000, a decrease of 21.3% from $7,473,000 in fiscal year 2024[2] - Basic and diluted earnings per share for the fiscal year 2025 were $0.29, down from $0.37 in fiscal year 2024[7] Charges and Expenses - The company recorded $1,098,000 in pre-tax charges related to storm damage during the fiscal year 2025[5] - A non-cash tax charge of $2,147,000 was recorded in Q4 2025 related to potential repatriation of undistributed foreign earnings[5] - Selling, general, and administrative expenses were $2,107,000 for the 13 weeks ended March 2, 2025, representing 12.4% of net sales[17] Assets and Liabilities - Total current assets decreased to $90,294,000 as of March 2, 2025, down from $98,845,000 as of March 3, 2024[15] - Total liabilities decreased to $14,954,000 as of March 2, 2025, compared to $19,395,000 as of March 3, 2024[15] - Shareholders' equity decreased to $107,154,000 as of March 2, 2025, from $112,914,000 as of March 3, 2024[15] - The company had cash and marketable securities of $68,834,000 as of March 2, 2025, down from $77,211,000 as of March 3, 2024[15] Product Development - Park Aerospace Corp. continues to develop advanced composite materials for the aerospace market, including film adhesives and lightning strike protection materials[12] Gross Profit and Margin - Gross profit margin improved to 29.3% for the 13 weeks ended March 2, 2025, compared to 27.3% for the same period last year[17] - The company reported a gross profit of $4,958,000 for the 13 weeks ended March 2, 2025, compared to $4,453,000 for the same period last year[17] Quarterly Performance - Total net sales for the 13 weeks ended March 2, 2025, were $16,939,000, an increase of 3.7% compared to $16,333,000 for the 14 weeks ended March 3, 2024[17] - Net earnings for the 13 weeks ended March 2, 2025, were $1,246,000, a decrease of 53.3% from $2,670,000 for the 14 weeks ended March 3, 2024[17] - Adjusted EBITDA for the 13 weeks ended March 2, 2025, was $3,418,000, an increase from $3,201,000 for the 14 weeks ended March 3, 2024[18]