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<SEC-DOCUMENT>0000076267-05-000007.txt : 20050426
<SEC-HEADER>0000076267-05-000007.hdr.sgml : 20050426
<ACCEPTANCE-DATETIME>20050426100937
ACCESSION NUMBER:		0000076267-05-000007
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050426
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050426
DATE AS OF CHANGE:		20050426

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:		05771777

	BUSINESS ADDRESS:	
		STREET 1:		48 SOUTH SERVICE ROAD
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6314653600

	MAIL ADDRESS:	
		STREET 1:		48 SOUTH SERVICE ROAD
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e8k405.txt
<DESCRIPTION>FORM 8-K
<TEXT>


                        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): April 26, 2005
                                               -----------------

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


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

48 South Service Road, Melville, New York           11042
- --------------------------------------------------------------
  (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 April 26, 2005 reporting its results  of
operations for its fiscal year 2005 fourth quarter  and  for
its full fiscal year ended February 27, 200. 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 April 26, 2005



                          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:  April 26, 2005         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 April 26, 2005          5


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>enr405.txt
<DESCRIPTION>EARNINGS NEWS RELEASE 4TH QUARTER AND YE
<TEXT>



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

            PARK ELECTROCHEMICAL REPORTS FOURTH QUARTER AND
                          FISCAL YEAR RESULTS

MELVILLE,  New  York, April 26, 2005......Park Electrochemical  Corp.
(NYSE-PKE) reported sales of $51,212,000 for the fourth quarter ended
February  27,  2005 compared to sales from continuing  operations  of
$55,289,000  for the fourth quarter of last year.  Park's  sales  for
the fiscal year ended February 27, 2005 were $211,187,000 compared to
sales from continuing operations of $194,236,000 for the prior year.

Park  reported  net profit of $4,945,000 for the fourth quarter  ended
February  27,  2005 compared to net profit from continuing  operations
before  special  items  of $4,124,000 for last  fiscal  year's  fourth
quarter.   During the prior year's fourth quarter ended  February  29,
2004, the Company recognized a loss from the discontinued operation of
its Dielektra GmbH subsidiary in Germany of $23,172,000.  Inclusive of
this  loss from discontinued operations and special items the net loss
was  $15,424,000 for last fiscal year's fourth quarter ended  February
29, 2004.

For  the year ended February 27, 2005, Park reported net profit before
special  items  of $18,102,000 compared to net profit from  continuing
operations  before special items of $7,031,000 for  the  prior  fiscal
year.  Net earnings for the year ended February 27, 2005, including  a
gain  on  an  insurance  settlement and realignment  charges  recorded
during  the third quarter, were $21,605,000 compared to a net loss  of
$3,852,000,  inclusive  of  the loss on  discontinued  operations  and
special items, for last year.

Park  reported  diluted  earnings per share of  $.25  for  the  fourth
quarter ended February 27, 2005 compared to diluted earnings per share
from  continuing operations before special items $.20 for last  year's
fourth quarter. For the year ended February 27, 2005, diluted earnings
per  share before special items were $.90. Inclusive of special items,
diluted earnings per share were $1.08 for the year ended February  27,
2005.   Diluted  earnings per share from continuing operations  before
special  items were $.35 for the prior year ended February  29,  2004.
The  diluted  loss per share, inclusive of the loss from  discontinued
operations  and  special  items, was $.19 for  the  prior  year  ended
February 29, 2004.

Brian  Shore,  Park's President and CEO, said: "The condition  of  the
global  markets  for  our electronics materials  products  were  mixed
during  our  fourth quarter, and not remarkably different  from  their
condition  in the third quarter.  As we have discussed over  and  over
again with you, our forward visibility regarding our global electronic
materials  markets  is generally very poor, and,  accordingly,  it  is
difficult  to  intelligently  comment on  our  current  first  quarter
expectations,  except  to  say  that  the  condition  of  our   global
electronics  markets in our current first quarter is  similar  to  the
electronics  market condition during the third and fourth quarters  of
last  year.  On the other hand, the military, aerospace and  specialty
applications  markets for our FiberCote advanced  composite  materials
business  continued  to  be healthy during the  fourth  quarter,  with
particular  strength coming from the rocket motor, UAV and  commercial
aircraft components of those markets.  We believe the markets for  our
FiberCote  advanced composite materials business will continue  to  be
healthy  during our first quarter.  The installation of the additional
treater  at  our  FiberCote  facility  in  Waterbury,  Connecticut  is
currently  being  completed,  and  we  expect  that  treater   to   be
operational during our second quarter."

Brian Shore concluded, "We continue to invest our company's human  and
financial   resources  in  the  higher  technology  aspects   of   our
electronics  material  business and our advanced  composite  materials
business.   We are currently dedicating a significant portion  of  our
high-level  human  resources  toward the process  of  reinventing  our
company from an electronic laminate company into an advanced materials
company   which  produces  high-technology  digital  and  RF/microwave
printed  circuit  materials and advanced composite materials  for  the
electronics,  military,  aerospace, wireless communication,  specialty
and industrial markets."

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 (800) 818-6852.

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 Saturday, April 30, 2005. The conference call replay  can
be accessed by dialing (888) 203-1112 and entering passcode 4391315 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 the  gain  on  the  insurance
settlement,  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. The detailed operating information
presented  below  reconciles  the non-GAAP  results  from  continuing
operations   before  special  items  to  earnings   from   continuing
operations   determined  in  accordance  with  GAAP.  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  materials  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,  specialty  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  Company's
website at www.parkelectro.com.
The performance table (in thousands, except per share amounts):

                                   13 weeks ended      52 weeks ended
                                  2/27/05  2/29/04    2/27/05  2/29/04

Sales from Continuing Operations   $51,212  $55,289   $211,187 $194,236

Net Profit from Continuing
Operations before Special Items    $ 4,945  $ 4,124   $ 18,102 $  7,031
After-Tax Special Items                  -    3,624      3,503   22,878
Loss from Discontinued Operations,
 Net of Taxes                            -  (23,172)         -  (33,761)
     Net Earnings                  $ 4,945 $(15,424)  $ 21,605 $ (3,852)

Diluted Earnings Per Share:
Net Profit from Continuing
 Operations before Special Items   $  0.25  $  0.20   $  0.90  $   0.35
After-Tax Special Items                  -     0.18      0.18      1.15
Loss from Discontinued Operations,
 Net of Taxes                            -    (1.14)        -     (1.69)
     Net Earnings (Loss)           $  0.25  $ (0.76)   $ 1.08  $  (0.19)

Diluted Weighted Average Shares
 Outstanding                        20,058    20,167   20,075    19,991


The comparative balance sheets (in thousands):

                                          2/27/05    2/29/04
 Assets
 Current Assets
  Cash and Marketable Securities         $189,578  $189,186
  Accounts Receivable, Net                 35,722    36,149
  Inventories                              15,418    11,707
  Other Current Assets                      2,944     3,040

      Total Current Assets                243,662   240,082

  Fixed Assets, Net                        63,251    70,569
  Other Assets                                398       419

      Total Assets                       $307,311  $311,070

 Liabilities and Stockholders' Equity
 Current Liabilities
  Accounts Payable                       $ 15,121  $ 14,913
  Accrued Liabilities                      20,566    24,468

      Income Taxes Payable                  6,474     3,248

      Total Current Liabilities            42,161    42,629

  Deferred Income Taxes                     5,042     5,107
  Liabilities from Discontinued
   Operations                              17,251    19,438

      Total Liabilities                    64,454    67,174

  Stockholders' Equity                    242,857   243,896

       Total Liabilities and
        Shareholders' Equity             $307,311  $311,070

  Equity Per Share                         $12.19    $12.33

 Detailed operating information (in thousands):

                                  13 Weeks Ended     52 Weeks Ended
                                2/27/05   2/29/04   2/27/05   2/29/04
 Continuing Operations
  Net  Sales                    $51,212   $55,289  $211,187  $194,236
  Cost of Sales                  40,932    42,895   167,937   161,536
    %                             79.9%     77.6%     79.5%     83.2%
  Gross Profit                   10,280    12,394    43,250    32,700
    %                             20.1%     22.4%     20.5%     16.8%
  Selling, General and
   Administrative Expenses        5,816     7,708    26,960    27,962
    %                             11.4%     13.9%     12.8%     14.4%
  Profit from Operations          4,464     4,686    16,290     4,738
    %                              8.7%      8.5%      7.7%      2.4%
  Other Income                      988       764     3,386     2,958
    %                              1.9%      1.4%      1.6%      1.6%
  Pre-Tax Operating Profit        5,452     5,450    19,676     7,696
    %                             10.6%      9.9%      9.3%      4.0%
  Income Tax Provision              507     1,326     1,574       665
    Effective Tax Rate             9.3%     24.3%      8.0%      8.6%
  Net Profit from Continuing
   Operations before Special
   Items                          4,945     4,125    18,102     7,031
    %                              9.7%      7.5%      8.6%      3.6%

 Special Items:
  Delco Lawsuit                      -         -         -     33,088
    %                                -         -         -      17.0%
  Realignment Charges                -       (30)     (625)   (8,469)
    %                                -      -0.0%     -0.3%     -4.4%
  Gain on Sale of UK Real Estate     -         -         -        429
    %                                -         -         -       0.2%
  Insurance Gain                     -         -     4,745         -
    %                                -         -      2.2%         -
  Income Tax Provision (Benefit)     -    (3,654)      617      2,170
   Effective Tax Rate                -         -     15.0%       8.7%
   After-Tax Special Items           -     3,624     3,503     22,878
    %                                -      6.5%      1.7%      11.8%
 After Special Items:
  Earnings from Continuing
  Operations before Income Taxes  5,452    5,420    23,796     32,744
    %                             10.6%     9.8%     11.3%      16.9%
  Income Tax Provision (Benefit)    507  (2,328)     2,191      2,835
   Effective Tax Rate              9.3%   -43.0%      9.2%       8.7%
  Net Earnings from Continuing
   Operations                     4,945    7,748    21,605     29,909
    %                              9.7%    14.0%     10.2%      15.4%
 Loss from Discontinued
  Operations, Net of Taxes           -  (23,172)        -    (33,761)
    %                                -    -41.9%        -      -17.4%
  Net Earnings (Loss)          $ 4,945 $(15,424)   $21,605  $ (3,852)
    %                             9.7%      1.9%     10.2%       8.3%

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