Park Aerospace 8K Park Electrochemical Corp. Reports First Quarter | PKE 26 Jun 13

Exhibit 99.1

	*NEWS RELEASE*
Contact: Martina Bar Kochva	48 South Service Road
	Melville, NY 11747
	(631) 465-3600

PARK ELECTROCHEMICAL CORP. REPORTS FIRST QUARTER

Melville, New York, Wednesday, June 26, 2013…..Park Electrochemical Corp. (NYSE-PKE) reported net sales of $43,438,000 for the first quarter ended June 2, 2013 compared to net sales of $46,046,000 for the first quarter ended May 27, 2012.

Park reported net earnings before special items of $5,129,000 for the first quarter ended June 2, 2013 compared to net earnings before special items of $4,940,000 for the first quarter of last year. During the first quarter ended June 2, 2013, the Company recorded pre-tax restructuring charges of $200,000 in connection with the closure of its Nelco Technology (Zhuhai FTZ) Ltd. facility located in the Free Trade Zone in Zhuhai, China. In the first quarter of last year, the Company recorded pre-tax restructuring charges of $11,000 in connection with the closure of its Park Advanced Composite Materials, Inc. facility located in Waterbury, Connecticut. Accordingly, net earnings for the first quarter ended June 2, 2013 were $4,929,000 compared to $4,933,000 for the first quarter ended May 27, 2012.

Park reported basic and diluted earnings per share before special items of $0.25 for the first quarter ended June 2, 2013 compared to basic and diluted earnings per share before special items of $0.24 for last year’s first quarter. Basic and diluted earnings per share were $0.24 for the first quarter ended June 2, 2013 compared to basic and diluted earnings per share of $0.24 for last year’s first quarter.

The Company will conduct a conference call to discuss its financial results at 11:00 a.m. EDT today. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (866) 277-1184 in the United States and Canada and (617) 597-5360 in other countries and the required passcode is 64391909.

For those unable to listen to the call live, a conference call replay will be available from approximately 2:00 p.m. EDT today through 11:59 p.m. EDT on Tuesday, July 2, 2013. The conference call replay can be accessed by dialing (888) 286-8010 in the United States and Canada and (617) 801-6888 in other countries and entering passcode 37358727 or on the Company's web site atwww.parkelectro.com/investor/investor.html.

Any additional material financial or statistical data disclosed in the conference call will also be available at the time of the conference call on the Company's web site atwww.parkelectro.com/investor/investor.html.

Park believes that an evaluation of its ongoing operations would be difficult if the disclosure of its financial results were limited to accounting principles generally accepted in the United States of America (“GAAP”) financial measures, which include special items, such as restructuring charges. Accordingly, in addition to disclosing its financial results determined in accordance with GAAP, Park discloses non-GAAP operating results that exclude special items in order to assist its shareholders and other readers in assessing the Company’s operating performance, since the Company’s on-going, normal business operations do not include such special items. The detailed operating information presented below reconciles the non-GAAP operating results before special items to earnings determined in accordance with GAAP. Such non-GAAP financial measures are provided to supplement the results provided in accordance with GAAP.

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Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company’s manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company also maintains R&D facilities in Arizona, Kansas and Singapore.

Additional corporate information is available on the Company’s web site atwww.parkelectro.com

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

	13 Weeks Ended 6/2/2013			13 Weeks Ended 5/27/2012
Sales	$	43,438		$	46,046

Net Earnings before Special Items¹	$	5,129		$	4,940
Special Items net of Tax	$	(200	)	$	(7	)
Net Earnings	$	4,929		$	4,933

Basic and Diluted Earnings per Share:
Basic Earnings before Special Items¹	$	0.25		$	0.24
Special Items	$	(0.01	)	$	-
Basic Earnings per Share	$	0.24		$	0.24

Diluted Earnings before Special Items¹	$	0.25		$	0.24
Special Items	$	(0.01	)	$	-
Diluted Earnings per Share	$	0.24		$	0.24

Weighted Average Shares Outstanding:
Basic		20,828			20,796
Diluted		20,844			20,849

¹Refer to "Detailed operating information" below for information regarding Special Items.

Comparative balance sheets(in thousands):

	6/2/2013		3/3/2013
Assets
Current Assets
Cash and Marketable Securities	$	279,318	$	275,216
Accounts Receivable, Net		26,652		25,878
Inventories		14,297		12,918
Other Current Assets		6,797		6,662
Total Current Assets		327,064		320,674

Fixed Assets, Net		31,756		32,187
Other Assets		16,851		16,797
Total Assets	$	375,671	$	369,658

Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable	$	7,419	$	6,485
Accrued Liabilities		6,385		6,016
Income Taxes Payable		5,426		4,177
Total Current Liabilities		19,230		16,678

Long-Term Debt		52,000		52,000
Deferred Income Taxes		761		812
Other Liabilities		246		246
Total Liabilities		72,237		69,736

Shareholders’ Equity		303,434		299,922

Total Liabilities and Shareholders' Equity	$	375,671	$	369,658

Equity per Share	$	14.57	$	14.40

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Detailed operating information (in thousands – unaudited):

	13 Weeks Ended June 2, 2013									13 Weeks Ended May 27, 2012
	GAAP			Specials Items			Before Special Items			GAAP			Specials Items			Before Special Items
Net Sales	$	43,438					$	43,438		$	46,046					$	46,046
Cost of Sales		30,447						30,447			33,070						33,070
%		70.1	%					70.1	%		71.8	%					71.8	%

Gross Profit		12,991						12,991			12,976						12,976
%		29.9	%					29.9	%		28.2	%					28.2	%

Selling, General & Administrative
Expenses		6,556						6,556			7,056						7,056
%		15.1	%					15.1	%		15.3	%					15.3	%

Restructuring Charge		200			(200	)		-			11			(11	)		-
%		0.5	%					0.0	%		0.0	%					0.0	%

Earnings from Operations		6,235			200			6,435			5,909			11			5,920
%		14.4	%					14.8	%		12.8	%					12.9	%

Interest Expense		167						167			-			-			-
%		0.4	%					0.4	%		0.0	%					0.0	%

Other Income, net		64						64			198						198
%		0.1	%					0.1	%		0.4	%					0.4	%

Earnings before Income Taxes		6,132			200			6,332			6,107			11			6,118
%		14.1	%					14.6	%		13.3	%					13.3	%

Income Tax Provision		1,203			-			1,203			1,174			4			1,178
Effective Tax Rate		19.6	%					19.0	%		19.2	%					19.3	%

Net Earnings		4,929			200			5,129			4,933			7			4,940
%		11.3	%					11.8	%		10.7	%					10.7	%

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Park Aerospace (PKE) 8-KPark Electrochemical Corp. Reports First Quarter