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Park Aerospace Corp. Reports Fourth Quarter and Fiscal Year Results

NEWTON, Kan., May 15, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) reported results for the 2025 fiscal year fourth quarter and full fiscal year ended March 2, 2025. The Company will conduct a conference call to discuss its financial results and other matters at 5:00 p.m. EDT today. A live audio webcast of the event, along with presentation materials, will be available at at 5:00 p.m. EDT today. The presentation materials will also be available at approximately 4:15 p.m. EDT today at and on the Company鈥檚 website at under 鈥淚nvestor Conference Calls鈥� on the 鈥淪hareholders鈥� page.

Park reported net sales of $16,939,000 for the 2025 fiscal year fourth quarter ended March 2, 2025 compared to $16,333,000 for the 2024 fiscal year fourth quarter ended March 3, 2024 and $14,408,000 for the 2025 fiscal year third quarter ended December 1, 2024. Park鈥檚 net sales for the fiscal year ended March 2, 2025 were $62,026,000 compared to $56,004,000 for the fiscal year ended March 3, 2024. Net earnings for the 2025 fiscal year fourth quarter were $1,246,000 compared to $2,670,000 for the 2024 fiscal year fourth quarter and $1,577,000 for the 2025 fiscal year third quarter. Net earnings were $5,882,000 for the fiscal year ended March 2, 2025 compared to $7,473,000 for the fiscal year ended March 3, 2024. The 2025 fiscal year fourth quarter and 2025 fiscal year were comprised of 13 weeks and 52 weeks, respectively, while the 2024 fiscal year fourth quarter and 2024 fiscal year were comprised of 14 weeks and 53 weeks, respectively.

Net earnings before special items for the 2025 fiscal year fourth quarter were $2,417,000 compared to $2,308,000 for the 2024 fiscal year fourth quarter and $1,577,000 for the 2025 fiscal year third quarter. Net earnings before special items for the fiscal year ended March 2, 2025 were $7,867,000 compared to $7,664,000 for the fiscal year ended March 3, 2024.

Adjusted EBITDA for the 2025 fiscal year fourth quarter was $3,418,000 compared to $3,201,000 for the 2024 fiscal year fourth quarter and $2,415,000 for the 2025 fiscal year third quarter. Adjusted EBITDA for the fiscal year 2025 was $11,649,000 compared to $10,989,000 for fiscal year 2024.

During the 2025 fiscal year, the Company recorded $1,098,000 of pre-tax charges related to storm damage to the Company鈥檚 facilities in Newton Kansas. During the 2025 fiscal year fourth quarter, the Company recorded a non-cash tax charge of $2,147,000 related to the potential repatriation by the Company of undistributed foreign earnings on certain funds held by the Company鈥檚 Singapore subsidiary. The Company also recorded a tax benefit of $957,000 in the 2025 fiscal year fourth quarter related to the 鈥渞unning鈥� or expiration of the statute of limitations for certain provisions for uncertain tax positions previously established by the Company. During the 2024 fiscal year, the Company recorded $570,000 of pre-tax activist shareholder defense costs, $65,000 of pre-tax losses on sales of investments to fund the $1.00 per share special cash dividend paid on April 6, 2023 to shareholders of record on March 9, 2023 and a $109,000 pre-tax charge for the modification of previously granted stock options in connection with the special cash dividend in the 2024 fiscal year first quarter. The Company recorded $70,000 of pre-tax costs to settle an insurance claim as the result of the bankruptcy of an insurer and $38,000 of pre-tax recruiting fees in the 2024 fiscal year fourth quarter and fiscal year. The Company recognized a tax benefit of $657,000 in the 2024 fiscal year fourth quarter and fiscal year primarily from the reductions of uncertain tax positions related to expiring statutes of limitations on tax positions taken in prior years regarding the taxability of funds repatriated from the Company鈥檚 subsidiary in Singapore, and the Company recorded $224,000 of additional tax expense for tax deductions becoming unavailable related to stock options expiring unexercised in the 2024 fiscal year fourth quarter and fiscal year.听

Park reported basic and diluted earnings per share of $0.06 for the 2025 fiscal year fourth quarter compared to $0.13 for the 2024 fiscal year fourth quarter and $0.08 for the 2025 fiscal year third quarter. Basic and diluted earnings per share before special items were $0.12 for the 2025 fiscal year fourth quarter compared to $0.11 for the 2024 fiscal year fourth quarter and $0.08 for the 2025 fiscal year third quarter.

Park reported basic and diluted earnings per share of $0.29 for the 2025 fiscal year compared to $0.37 for the 2024 fiscal year. Basic and diluted earnings per share before special items were $0.39 for the 2025 fiscal year compared to $0.38 for the 2024 fiscal year.

The Company will conduct a conference call to discuss its financial results at 5:00 p.m. EDT today. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (877) 407-3982 in the United States and Canada, and (201) 493-6780 in other countries. The required passcode for attendance by phone is 13753688.

For those unable to listen to the call live, a conference call replay will be available from approximately 8:00 p.m. EDT today through 11:59 p.m. EDT on Thursday, May 22, 2025. The conference call replay will be available at and on the Company鈥檚 website at under 鈥淚nvestor Conference Calls鈥� on the 鈥淪hareholders鈥� page. It can also be accessed by dialing (844) 512-2921 in the United States and Canada, and (412) 317-6671 in other countries. The required passcode for accessing the replay by phone is 13753688.

Any additional material financial or statistical data disclosed in the conference call, including the investor presentation, will also be available at the time of the conference call on the Company's website at听.

Park believes that an evaluation of its ongoing operations would be difficult if the disclosure of its operating results were limited to accounting principles generally accepted in the United States of America (鈥淕AAP鈥�) financial measures, which include special items, such as a charge related to storm damage, a non-cash tax charge, reductions in uncertain tax positions, activist shareholder defense costs, losses on sales of investments, charges for modification of previously granted stock options, tax deductions becoming unavailable, costs to settle an insurance claim, and recruiting fees. Accordingly, in addition to disclosing its operating results determined in accordance with GAAP, Park discloses non-GAAP measures, including Adjusted EBITDA, and operating results that exclude special items in order to assist its shareholders and other readers in assessing the Company鈥檚 operating performance, since the Company鈥檚 on-going, normal business operations do not include such special items. The detailed operating information presented below includes a reconciliation of the non-GAAP operating results before special items to earnings determined in accordance with GAAP and a reconciliation of GAAP pre-tax earnings to Adjusted EBITDA. Such non-GAAP financial measures are provided to supplement the results provided in accordance with GAAP.

Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park鈥檚 advanced composite materials include film adhesives (Aeroadhere^庐) and lightning strike protection materials (Electroglide^庐). Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park鈥檚 advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as 鈥渄rones鈥�), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park鈥檚 advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park鈥檚 composite parts and structures (which include Park鈥檚 proprietary composite SigmaStrut鈩� and AlphaStrut鈩� product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park鈥檚 objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up.

Additional corporate information is available on the Company鈥檚 website at

Contact: Donna D鈥橝mico-Annitto
486 North Oliver Road, Bldg. Z
Newton, Kansas 67114
(316) 283-6500

Performance table, including non-GAAP information (in thousands, except per share amounts 鈥搖naudited):

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Reconciliation of non-GAAP financial measures (in thousands 鈥� unaudited):