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<SEC-DOCUMENT>0000076267-04-000048.txt : 20041222
<SEC-HEADER>0000076267-04-000048.hdr.sgml : 20041222
<ACCEPTANCE-DATETIME>20041222105748
ACCESSION NUMBER:		0000076267-04-000048
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041128
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20041222
DATE AS OF CHANGE:		20041222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARK ELECTROCHEMICAL CORP
		CENTRAL INDEX KEY:			0000076267
		STANDARD INDUSTRIAL CLASSIFICATION:	PRINTED CIRCUIT BOARDS [3672]
		IRS NUMBER:				111734643
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04415
		FILM NUMBER:		041219419

	BUSINESS ADDRESS:	
		STREET 1:		5 DAKOTA DR
		CITY:			LAKE SUCCESS
		STATE:			NY
		ZIP:			11042
		BUSINESS PHONE:		5163544100

	MAIL ADDRESS:	
		STREET 1:		5 DAKOTA DR
		CITY:			LAKE SUCCESS
		STATE:			NY
		ZIP:			11042
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e8k3q05.txt
<DESCRIPTION>FORM 8-K THIRD QUARTER
<TEXT>
2

                        UNITED STATES
             SECURITIES AND EXCHANGE COMMISSION

                   Washington, D.C. 20549

                   ______________________


                          FORM 8-K

                       CURRENT REPORT
           Pursuant to Section 13 or 15(d) of the
               Securities Exchange Act of 1934


      Date of report (Date of earliest event reported):
                      December 22, 2004
                      --------------------

                 PARK ELECTROCHEMICAL CORP.
- ------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)


        New York               1-4415         11-1734643
- ------------------------------------------------------------
(State      or      Other    (Commission     (IRS Employer
Jurisdiction                File Number)    Identification
    of Incorporation)                            No.)


 48 South Service Road   Melville, NY             11747
- ------------------------------------------------------------
 (Address of Principal Executive Offices)     (Zip Code)


Registrant's telephone number, including area code (631) 465-3600

                         Not Applicable
Former Name or Former Address, if Changed Since Last Report

Check  the  appropriate box below if the Form 8-K filing  is
intended to simultaneously satisfy the filing obligation  of
the registrant under any of the following provisions:

   [  ] Written communications pursuant to Rule 425 under the
      Securities Act (17 CFR 230.425)
   [  ] Soliciting material pursuant to Rule 14a-12 under the
      Exchange Act (17 CFR 240.14a-12)
   [  ] Pre-commencement communications pursuant to Rule 14d-
      2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   [  ] Pre-commencement communications pursuant to Rule 13e-
      4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 2.02 Results of Operations and Financial Condition.

           Park Electrochemical Corp. (the "Company") issued
a news release on December 22, 2004 reporting its results of
operations  for  its  fiscal year 2005 third  quarter  ended
November  28,  2004.  The  Company is  furnishing  the  news
release  to the Securities and Exchange Commission  pursuant
to Item 2.02 of Form 8-K as Exhibit 99.1 hereto.

Item 9.01 Financial Statements and Exhibits.

     (c)  Exhibits.

          99.1  News Release dated December 22, 2004




                          SIGNATURE


     Pursuant to the requirements of the Securities Exchange
Act  of 1934, the Registrant has duly caused this report  to
be  signed  on  its behalf by the undersigned hereunto  duly
authorized.


                              PARK ELECTROCHEMICAL CORP.



Date:  December 22, 2004      By:/s/ Murray O. Stamer
                              Name:  Murray O. Stamer
                              Title: Senior Vice President and
                                    Chief Financial Officer




                        EXHIBIT INDEX

Number
Exhibit     Description                               Page

   99.1     News Release dated December 22, 2004       5




























</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>enr3q05a.txt
<DESCRIPTION>THIRD QUARTER RESULTS
<TEXT>

                      PARK ELECTROCHEMICAL CORP.
                                                   NEWS RELEASE
Contact:  Murray Stamer
          48 South Service Road
          Melville, NY 11747
          (631) 465-3600

          PARK ELECTROCHEMICAL REPORTS THIRD QUARTER RESULTS

MELVILLE, New York, December 22, 2004......Park Electrochemical Corp.
(NYSE-PKE) reported sales of $50,359,000 for the third quarter  ended
November  28,  2004 compared to sales from continuing  operations  of
$51,058,000 for the third quarter of last year.  Park's sales for the
first nine months were $159,975,000 compared to sales from continuing
operations of $138,947,000 for last year's first nine months.

Park  reported  net profit from continuing operations  before  special
items  of  $4,189,000 for the third quarter ended  November  28,  2004
compared to net profit from continuing operations before special items
of  $2,394,000 for last fiscal year's third quarter.  During the third
quarter  ended November 28, 2004, the Company recognized a  $4,745,000
gain related to insurance proceeds from the November 2002 accident  at
its  Singapore  facility  and  $625,000  of  realignment  charges  for
workforce  reductions  at its North American and European  operations.
During  the prior year's third quarter, the Company realized a pre-tax
gain  of  $429,000 on the sale of real estate previously used  by  its
Nelco  UK  subsidiary and had a loss from discontinued  operations  of
$1,838,000.  Accordingly, net earnings were $7,692,000 for  the  third
quarter  ended November 28, 2004 compared to net earnings of  $985,000
for last fiscal year's third quarter.

For  the nine-month period ended November 28, 2004, Park reported  net
profit  from continuing operations before special items of $13,157,000
compared to net profit from continuing operations before special items
of $2,906,000 for last year's nine-month period.  Net earnings for the
nine months ended November 28, 2004 included the gain on the insurance
settlement  and  realignment charge described above.   For  the  prior
year's first nine-month period, the Company reported a pre-tax gain of
$33,088,000  related to the Delco lawsuit, a pre-tax gain of  $429,000
on  the sale of real estate previously used by its Nelco UK subsidiary
and  pre-tax charges of $8,438,000 related to realignment  costs.  Net
earnings  for the nine months ended November 28, 2004 were $16,660,000
compared  to  net earnings of $11,572,000 for last year's first  nine-
month period.

Park  reported  diluted earnings per share from continuing  operations
before  special items of $.21 and $.66, respectively,  for  the  third
quarter  and nine months ended November 28, 2004 compared to $.12  and
$.15, respectively, for last year's third quarter and first nine-month
period.  Diluted earnings per share were $.38 and $.83,  respectively,
for the third quarter and nine months ended November 28, 2004 compared
to  $.05  and  $.58, respectively, for last year's third  quarter  and
first nine-month period.

Brian  Shore,  Park's  President and CEO, said: "Although  the  global
markets for our electronics materials products improved to some degree
in  the  month  of  September, those markets were  anemic  during  the
remainder  of  the  third quarter. It is currently too  early  in  the
fourth  quarter  to have any intelligent opinion as to  whether  those
markets will improve during the fourth quarter. However, the military,
aerospace,  wireless  communication and  industrial  markets  for  our
FiberCote  advanced  composites business were all healthy  during  the
third  quarter, with particular strength coming from the rocket motor,
airframe  and  radome  components of those  markets.  We  believe  the
markets for our FiberCote business will continue to be healthy  during
the  fourth  quarter.  We continue to invest our company's  human  and
financial   resources  in  the  higher  technology  aspects   of   our
electronics materials business and in our FiberCote advanced composite
business. Our Singapore and China expansions are progressing on track.
In  addition, we are in the process of installing an additional  large
treater  at  our  FiberCote  advanced composite  facility  located  in
Waterbury,   Connecticut.   This  treater  will   effectively   double
FiberCote's current manufacturing capacity."

The  Company  will conduct a conference call to discuss its  financial
results  at  11:00 a.m. EST today. Forward-looking and other  material
information  may be discussed in this conference call. The  conference
call dial-in number is (800) 946-0712.

For  those unable to listen to the call live, a conference call replay
will be available from approximately 2:00 p.m. EST today through 11:59
p.m. EST on Sunday, December 26, 2004. The conference call replay  can
be  accessed by dialing (888) 203-1112 and entering passcode 154649 or
on  the  Company's  website at www.parkelectro.com under  the  caption
"Investor Conference Calls".

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 at www.parkelectro.com  under  the
caption "Investor Conference Calls".

Park  believes that an evaluation of its ongoing operations would  be
difficult if the disclosure of its financial results were limited  to
generally accepted accounting principles ("GAAP") financial measures,
which  include  special  items,  such as  realignment  and  severance
charges  and the gain on the Delco lawsuit. 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.
Such  non-GAAP  financial  measures are provided  to  supplement  the
results provided in accordance with GAAP.

Certain  portions of this press release may be deemed  to  constitute
forward looking statements that are subject to various factors  which
could   cause  actual  results  to  differ  materially  from   Park's
expectations.  Such factors include, but are not limited to,  general
conditions in the electronics industry, Park's competitive  position,
the  status  of  Park's  relationships with its  customers,  economic
conditions  in  international markets, the cost and  availability  of
utilities,  and  the  various factors set  forth  under  the  caption
"Factors  That  May Affect Future Results" after  Item  7  of  Park's
Annual  Report  on Form 10-K for the fiscal year ended  February  29,
2004.

Park  Electrochemical  Corp. is a global  advanced  material  company
which   develops   and  manufactures  high-technology   digital   and
RF/microwave   printed  circuit  materials  and  advanced   composite
materials   for   the  electronics,  military,  aerospace,   wireless
communication  and  industrial markets. The  Company's  manufacturing
facilities   are   located  in  Singapore,  China  (currently   under
construction),  France  (two  facilities),  Connecticut,  New   York,
Arizona  and  California. The Company operates under  the  FiberCote,
Nelco and Neltec names.

Additional corporate information is available on the World  Wide  Web
at www.parkelectro.com.

The  performance  table (in thousands, except  per  share  amounts  -
unaudited):

                                    13 weeks ended     39 weeks ended
                                    11/28/04 11/30/03  11/28/04 11/30/03

Sales from Continuing Operations    $50,359  $51,058  $159,975 $138,947

Net Profit from Continuing
Operations before Special Items     $ 4,189  $ 2,394  $ 13,157 $  2,906
After-Tax Special Items               3,503      429     3,503   19,255
Loss from Discontinued
Operations, Net of Taxes                  -   (1,838)        -  (10,589)
                                    -------  -------- --------  --------
     Net Earnings                   $ 7,692  $   985  $ 16,660  $11.572

Diluted Earnings Per Share:
Net Profit from Continuing
Operations before Special Items     $  0.21   $ 0.12   $  0.66   $ 0.15
After-Tax Special Items                0.17     0.02      0.17     0.96
Loss from Discontinued
Operations, Net of Taxes                  -    (0.09)        -    (0.53)
                                    -------   -------  -------   -------
     Net Earnings                   $  0.38   $ 0.05   $  0.83   $ 0.58

Diluted Weighted Average Shares
Outstanding                          20,061   20,083    20,081   19,932


The comparative balance sheets (in thousands):

                                          11/28/04     2/29/04
Assets                                  (unaudited)
Current Assets
 Cash and Marketable Securities          $204,885     $189,186
 Accounts Receivable, Net                  33,039       36,149
 Inventories                               14,342       11,707
 Other Current Assets                       4,218        3,040
                                         --------     --------
   Total Current Assets                   256,484      240,082

 Fixed Assets, Net                         64,835       70,569
 Other Assets                                 764          419
                                         --------     --------
   Total Assets                          $322,083     $311,070

Liabilities  and  Stockholders' Equity
 Current Liabilities
  Accounts Payable                       $ 11,354     $ 14,913
  Accrued Liabilities                      22,920       24,468
  Dividends Payable                        21,494            -
  Income Taxes Payable                      5,874        3,248
                                         --------      -------
   Total Current Liabilities               61,642       42,629

Deferred Income Taxes                       5,100        5,107
Liabilities from Discontinued
 Operations                                17,317       19,438
    Total Liabilities                      84,059       67,174

Stockholders' Equity                      238,024      243,896
                                         --------     --------
    Total Liabilities and
     Shareholders' Equity                 322,083     $311,070

Equity Per Share                           $11.95       $12.33


 Detailed operating information (in thousands - unaudited):

                                  13 Weeks Ended      39 Weeks Ended
                               11/28/04  11/30/03   11/28/04   11/30/03
 Continuing Operations
   Net Sales                   $ 50,359  $ 51,058  $ 159,975   $138,947
   Cost of Sales                 40,519    41,294    127,005    118,641
     %                            80.5%     80.9%      79.4%      85.4%
   Gross Profit                   9,840     9,764     32,970     20,306
     %                            19.5%     19.1%      20.6%      14.6%
   Selling, General and
    Administrative Expenses       6,282     7,838     21,144     20,255
     %                            12.4%     15.3%      13.2%      14.6%
   Profit from Operations         3,558     1,926     11,826         51
     %                             7.1%      3.8%       7.4%       0.0%
   Other Income                     971       706      2,398      2,194
     %                             1.9%      1.4%       1.5%       1.6%
   Pre-Tax Operating Profit       4,529     2,632     14,224      2,245
     %                             9.0%      5.2%       8.9%       1.6%
   Income Tax Provision (Benefit)   340       238      1,067      (661)
     Effective Tax Rate            7.5%      9.0%       7.5%     -29.4%
   Net Profit from Continuing
    Operations before Special
    Items                         4,189     2,394     13,157      2,906
     %                             8.3%      4.7%       8.2%       2.1%

 Special Items:
   Delco Lawsuit                      -         -          -     33,088
     %                                -         -          -      23.8%
   Realignment Charges            (625)         -      (625)    (8,438)
     %                            -1.2%         -      -0.4%      -6.1%
   Gain on Sale of UK Real Estate     -       429         -         429
     %                                -      0.8%         -        0.3%
   Insurance Gain                 4,745         -     4,745           -
     %                             9.4%         -      3.0%           -
   Income Tax Provision             617         -       617       5,824
     Effective Tax Rate           14.9%         -     14.9%       23.2%
   After-Tax Special Items        3,503       429     3,503      19,255
     %                             7.0%      0.8%      2.2%       13.9%
 After Special Items:
   Earnings from Continuing Operations
     before Income Taxes          8,649     3,061    18,344      27,324
     %                            17.2%      6.0%     11.5%       19.7%
   Income Tax Provision             957       238     1,684       5,163
     Effective Tax Rate           11.1%      7.8%      9.2%       18.9%
    Net Earnings from Continuing
    Operations                    7,692     2,823    16,660      22,161
     %                            15.3%      5.5%     10.4%       15.9%

 Loss from Discontinued Operations, Net
   of Taxes                           -   (1,838)         -    (10,589)
     %                                -     -3.6%         -       -7.6%
    Net Earnings               $  7,692   $   985  $ 16,660    $ 11,572
     %                            15.3%      1.9%     10.4%        8.3%


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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