Park Aerospace Clocks 22% Sales Growth In Q1

Park Aerospace Corp. (NYSE:PKE) reported a first-quarter FY24 sales increase of 21.7% year-over-year to $15.55 million.
EPS remained flat year over year at $0.09 for the quarter. Adjusted EPS was $0.12.
Adjusted EBITDA for the first quarter was $3.31 million compared to $2.80 million a year ago.
The gross margin contracted by 90 bps to 31.1%, while gross profit jumped 18.1%.
Earnings from operations fell 9.8% on year to $2.22 million.
The company recorded $570,000 of pre-tax activist shareholder defense costs and $65,000 of pre-tax losses on sales of investments to fund the $1.00 per share special dividend paid on April 6, 2023, to shareholders of record on March 9, 2023.
Price Action: PKE shares are trading higher by 0.71% to $14.15 on the last check Thursday.