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Park Electrochemical reports better-than-expected first-quarter earnings

The materials company develops technology for the aerospace and military markets

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Shares jumped double-digits in Friday trading

Park Electrochemical Corp (NYSE:PKE) announced better-than-expected first quarter earnings, seeing revenue increase by nearly 14%.

The materials company reported earnings of US$0.16 per share on revenue of US$31.1mln compared with US$0.07 on revenue of US$ 27.4mln in the previous year’s first quarter.

The Melville, New York-based company beat Wall Street estimates of US$0.10 EPS on revenue of $29.38mln.

The company develops and manufactures advanced composite materials and telecommunications materials for the aerospace and military markets. Its manufacturing facilities are located domestically in Arizona, California and Kansas and internationally in Singapore and France.

Shares of Park Electrochemical jumped more than 10% to US$22.09 in Friday morning trading.

Quick facts: Park Electrochemical Corp

Price: - -

NYSE:PARK
Market: NYSE
Market Cap: -
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