Park Aerospace Corp. Files 10-Q for Q3 2024
Ticker: PKE · Form: 10-Q · Filed: Jan 15, 2025 · CIK: 76267
| Field | Detail |
|---|---|
| Company | Park Aerospace Corp (PKE) |
| Form Type | 10-Q |
| Filed Date | Jan 15, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, aerospace, financials
TL;DR
**PARK AEROSPACE CORP 10-Q FILED: Q3 2024 RESULTS OUT NOW.**
AI Summary
Park Aerospace Corp. filed its 10-Q for the period ending November 30, 2024, reporting on its financial performance. The company, headquartered in Melville, NY, operates in the aircraft part and auxiliary equipment sector. Key financial details and operational updates for the third quarter of fiscal year 2024 are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational status of Park Aerospace Corp., crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard 10-Q, but the aerospace sector can be subject to cyclicality and supply chain risks.
Key Numbers
- Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q filing.)
- November 30, 2024 — Period End Date (The date through which financial information is reported.)
- 20250115 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- PARK AEROSPACE CORP (company) — Filer of the 10-Q
- Melville, NY (location) — Company headquarters
- November 30, 2024 (date) — End of the reporting period
- 20250115 (date) — Filing date
FAQ
What is the primary business of Park Aerospace Corp.?
Park Aerospace Corp. is primarily involved in the aircraft part & auxiliary equipment sector, NEC, as indicated by its SIC code [3728].
When was the period covered by this 10-Q filing?
The 10-Q filing covers the period ending November 30, 2024.
Where is Park Aerospace Corp. headquartered?
Park Aerospace Corp. is headquartered in Melville, NY.
What is the SEC file number for Park Aerospace Corp.?
The SEC file number for Park Aerospace Corp. is 001-04415.
What was the previous name of Park Aerospace Corp.?
The company was formerly known as PARK ELECTROCHEMICAL CORP, with a name change date of July 3, 1992.
Filing Stats: 4,640 words · 19 min read · ~15 pages · Grade level 13.7 · Accepted 2025-01-15 15:22:43
Filing Documents
- pke20241130_10q.htm (10-Q) — 1074KB
- ex_764126.htm (EX-31.1) — 13KB
- ex_764127.htm (EX-31.2) — 13KB
- ex_764128.htm (EX-32.1) — 5KB
- ex_764129.htm (EX-32.2) — 4KB
- 0001437749-25-001203.txt ( ) — 4447KB
- pke-20241201.xsd (EX-101.SCH) — 37KB
- pke-20241201_def.xml (EX-101.DEF) — 244KB
- pke-20241201_lab.xml (EX-101.LAB) — 231KB
- pke-20241201_pre.xml (EX-101.PRE) — 272KB
- pke-20241201_cal.xml (EX-101.CAL) — 37KB
- pke20241130_10q_htm.xml (XML) — 593KB
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets December 1, 2024 (Unaudited) and March 3, 2024 3 Consolidated Statements of Operations 13 weeks and 39 weeks ended December 1, 2024 and November 26, 2023 (Unaudited) 4 Consolidated Statements of Comprehensive Earnings 13 weeks and 39 weeks ended December 1, 2024 and November 26, 2023 (Unaudited) 5 Consolidated Statements of Shareholders' Equity December 1, 2024 and November 26, 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows 39 weeks ended December 1, 2024 and November 26, 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Factors That May Affect Future Results 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.
Controls and Procedures
Controls and Procedures 25 PART II. OTHER INFORMATION: Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 27 EXHIBIT INDEX 28
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. PARK AEROSPACE CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands) December 1, 2024 (unaudited) March 3, 2024* ASSETS Current assets Cash and cash equivalents $ 12,754 $ 6,567 Marketable securities (Note 3) 57,288 70,644 Accounts receivable, less allowance for credit losses of $ 140 and $ 128 , respectively 9,687 12,381 Inventories (Note 4) 10,592 6,404 Prepaid expenses and other current assets 2,243 2,849 Total current assets 92,564 98,845 Property, plant and equipment, net 21,479 23,499 Operating right-of-use assets (Note 5) 320 95 Goodwill and other intangible assets 9,776 9,776 Other assets 83 94 Total assets $ 124,222 $ 132,309 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 5,532 $ 3,514 Operating lease liability (Note 5) 39 53 Accrued liabilities 1,427 1,986 Income taxes payable 5,258 4,105 Total current liabilities 12,256 9,658 Long-term operating lease liability (Note 5) 328 82 Non-current income taxes payable (Note 9) - 5,259 Deferred income taxes (Note 9) 3,034 3,222 Other liabilities 1,246 1,174 Total liabilities 16,864 19,395 Commitments and contingencies (Note 12) Shareholders' equity (Note 8) Common stock 2,096 2,096 Additional paid-in capital 170,731 170,445 Accumulated deficit ( 48,305 ) ( 45,374 ) Accumulated other comprehensive loss ( 965 ) ( 2,271 ) 123,557 124,896 Less treasury stock, at cost ( 16,199 ) ( 11,982 ) Total shareholders' equity 107,358 112,914 Total liabilities and shareholders' equity $ 124,222 $ 132,309 * The balance sheet at March 3, 2024 has been derived from the audited consolidated financial statements at that date. See Notes to Condensed Consolidated Financial Statements (Unaudited). 3 PARK AEROSPACE CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS