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Park Electrochemical profit misses consensus by 27.9% in fiscal Q3

Park Aerospace Corp. said its normalized net income for the fiscal third quarter ended Nov. 29, 2015, amounted to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS rose 87.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.1 million, a gain of 81.3% from $1.7 million in the year-earlier period.

The normalized profit margin rose to 8.9% from 4.9% in the year-earlier period.

Total revenue fell on an annual basis to $34.3 million from $34.7 million, and total operating expenses decreased 8.0% on an annual basis to $29.3 million from $31.8 million.

Reported net income grew 93.0% year over year to $4.1 million, or 20 cents per share, from $2.1 million, or 10 cents per share.