$PKE
PARK AEROSPACE CORP

2015 Q2 Form 10-Q Financial Statement

#000143774915013444 Filed on July 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $37.83M $48.82M
YoY Change -22.51% 12.48%
Cost Of Revenue $26.46M $31.89M
YoY Change -17.02% 4.89%
Gross Profit $11.37M $16.93M
YoY Change -32.85% 30.22%
Gross Profit Margin 30.05% 34.68%
Selling, General & Admin $5.801M $6.596M
YoY Change -12.05% -0.06%
% of Gross Profit 51.03% 38.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $837.0K $898.0K
YoY Change -6.79% -7.42%
% of Gross Profit 7.36% 5.3%
Operating Expenses $5.801M $6.596M
YoY Change -12.05% -0.06%
Operating Profit $5.442M $10.07M
YoY Change -45.94% 57.28%
Interest Expense $369.0K $353.0K
YoY Change 4.53% -453.0%
% of Operating Profit 6.78% 3.51%
Other Income/Expense, Net
YoY Change
Pretax Income $5.338M $9.860M
YoY Change -45.86% 61.64%
Income Tax $561.0K $1.644M
% Of Pretax Income 10.51% 16.67%
Net Earnings $4.777M $8.216M
YoY Change -41.86% 67.67%
Net Earnings / Revenue 12.63% 16.83%
Basic Earnings Per Share $0.23 $0.39
Diluted Earnings Per Share $0.23 $0.39
COMMON SHARES
Basic Shares Outstanding 20.55M 20.88M
Diluted Shares Outstanding 20.57M 20.99M

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.0M $277.2M
YoY Change -17.39% -0.75%
Cash & Equivalents $61.56M $135.1M
Short-Term Investments $167.5M $142.1M
Other Short-Term Assets $6.100M $3.700M
YoY Change 64.86% -45.59%
Inventory $14.53M $15.10M
Prepaid Expenses
Receivables $21.52M $28.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $271.2M $324.5M
YoY Change -16.43% -0.79%
LONG-TERM ASSETS
Property, Plant & Equipment $23.82M $28.80M
YoY Change -17.29% -9.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $946.0K $26.40M
YoY Change -96.42% 277.14%
Total Long-Term Assets $59.61M $65.00M
YoY Change -8.3% 33.74%
TOTAL ASSETS
Total Short-Term Assets $271.2M $324.5M
Total Long-Term Assets $59.61M $65.00M
Total Assets $330.8M $389.5M
YoY Change -15.07% 3.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.904M $9.300M
YoY Change -36.52% 25.68%
Accrued Expenses $5.330M $6.300M
YoY Change -15.4% -1.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.25M $12.50M
YoY Change -10.0%
Total Short-Term Liabilities $26.77M $32.70M
YoY Change -18.14% 70.31%
LONG-TERM LIABILITIES
Long-Term Debt $80.25M $91.50M
YoY Change -12.3% 75.96%
Other Long-Term Liabilities $1.204M $200.0K
YoY Change 502.0% 0.0%
Total Long-Term Liabilities $81.45M $91.70M
YoY Change -11.17% 75.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.77M $32.70M
Total Long-Term Liabilities $81.45M $91.70M
Total Liabilities $155.4M $182.5M
YoY Change -14.86% 152.77%
SHAREHOLDERS EQUITY
Retained Earnings $18.76M
YoY Change
Common Stock $2.096M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.32M
YoY Change
Treasury Stock Shares
Shareholders Equity $175.4M $207.0M
YoY Change
Total Liabilities & Shareholders Equity $330.8M $389.5M
YoY Change -15.07% 3.67%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $4.777M $8.216M
YoY Change -41.86% 67.67%
Depreciation, Depletion And Amortization $837.0K $898.0K
YoY Change -6.79% -7.42%
Cash From Operating Activities -$5.818M $9.339M
YoY Change -162.3% 46.61%
INVESTING ACTIVITIES
Capital Expenditures $176.0K $53.00K
YoY Change 232.08% -111.52%
Acquisitions
YoY Change
Other Investing Activities -$35.33M -$5.210M
YoY Change 578.12% 269.5%
Cash From Investing Activities -$35.51M -$5.263M
YoY Change 574.67% 179.95%
FINANCING ACTIVITIES
Cash Dividend Paid $2.065M $2.088M
YoY Change -1.1%
Common Stock Issuance & Retirement, Net $9.484M $0.00
YoY Change
Debt Paid & Issued, Net $2.500M $0.00
YoY Change
Cash From Financing Activities -39.00M -2.012M
YoY Change 1838.32% -1.37%
NET CHANGE
Cash From Operating Activities -5.818M 9.339M
Cash From Investing Activities -35.51M -5.263M
Cash From Financing Activities -39.00M -2.012M
Net Change In Cash -80.33M 2.064M
YoY Change -3991.72% -15.76%
FREE CASH FLOW
Cash From Operating Activities -$5.818M $9.339M
Capital Expenditures $176.0K $53.00K
Free Cash Flow -$5.994M $9.286M
YoY Change -164.55% 35.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q2 dei Entity Registrant Name
EntityRegistrantName
PARK ELECTROCHEMICAL CORP
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NumberOfInsuranceCarriersThatHaveFiledAnswersToLawsuit
3
CY2015Q2 pke Number Of Sites Of Company Or Subsidiaries That Have Been Named For Potential Environmental Remediation Liability
NumberOfSitesOfCompanyOrSubsidiariesThatHaveBeenNamedForPotentialEnvironmentalRemediationLiability
4
CY2015Q2 pke Number Of Units Covered Under General Liability Insurance Coverage
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3
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ShareBasedCompensation
301000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0184
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.3171
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2873
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0175
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0168
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
750
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
23.28
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
171100
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.56
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
966692
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1134542
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.55
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.43
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
22.22
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
692283
CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.91
CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
21.71
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2500
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1250000
CY2015Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
686410
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
175420000
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
181599000
CY2015Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
21.32
CY2015Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
444834
CY2015Q2 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
444834
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
12316000
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2832000
CY2015Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
9493000
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
19000
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
108000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20565000
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20988000
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20546000
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20880000

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