Park Aerospace Corp. (PKE) Financial Statements (2023 and Earlier)

Company Profile

Business Address 48 S. SERVICE ROAD
MELVILLE, NY 11747
State of Incorp. NY
Fiscal Year End February 28
Industry (SIC) 3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments109,628116,542122,355151,624108,231238,590237,425
Cash and cash equivalents13,96041,5955,41071,00718,254102,43897,757
Short-term investments95,66874,947116,94580,61789,977136,152139,668
Receivables9,6937,63310,9259,35219,76217,23822,583
Inventory, net of allowances, customer advances and progress billings5,1754,7946,3795,26711,15611,10510,214
Inventory5,1754,7946,3795,26711,15611,10510,214
Other undisclosed current assets3,2153,3725,5351,6902,1192,1971,963
Total current assets:127,711132,341145,194167,933141,268269,130272,185
Noncurrent Assets
Operating lease, right-of-use asset217103420
Property, plant and equipment23,87021,13016,10010,79116,53218,63821,512
Intangible assets, net (including goodwill)9,7979,7979,8049,8119,8189,8259,833
Goodwill 9,7769,7769,7769,7769,7769,776
Intangible assets, net (excluding goodwill) 212835424957
Other undisclosed intangible assets, net (including goodwill)9,797      
Restricted cash and investments     10,00010,000
Other noncurrent assets1411412683161,4059851,247
Total noncurrent assets:34,02531,17126,59220,91827,75539,44842,592
TOTAL ASSETS:161,736163,512171,786188,851169,023308,578314,777
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,4017,9608,55511,15512,22710,62313,678
Accounts payable2,2423,3004,7353,1694,0254,1836,155
Accrued liabilities1,6711,7081,7092,9205,3813,4174,580
Taxes payable2,4882,9522,1115,0662,8213,0232,943
Debt     3,5003,000
Other undisclosed current liabilities5333152    
Total current liabilities:6,4547,9938,70711,15512,22714,12316,678
Noncurrent Liabilities
Long-term debt and lease obligation18686268  68,50072,000
Long-term debt, excluding current maturities     68,50072,000
Operating lease, liability18686268
Liabilities, other than long-term debt18,31619,49221,13618,68521,53543,12945,232
Accounts payable and accrued liabilities12,62114,30315,98617,66920,364  
Deferred tax liabilities, net 62842,08843,937
Deferred income tax liabilities1,183778834
Other liabilities4,5124,4114,3161,0165431,0411,295
Total noncurrent liabilities:18,50219,57821,40418,68521,535111,629117,232
Total liabilities:24,95627,57130,11129,84033,762125,752133,910
Stockholders' equity
Stockholders' equity attributable to parent136,780135,941141,675159,011135,261182,826180,867
Common stock2,0962,0962,0962,0962,0962,0962,096
Treasury stock, value(9,397)(10,794)(9,177)(9,853)(14,878)(15,020)(15,020)
Additional paid in capital169,591170,038169,862169,395169,011167,612166,398
Accumulated other comprehensive income (loss)(830)(336)668(22)1311,0261,471
Retained earnings (accumulated deficit)(24,680)(25,063)(21,774)(2,605)(21,099)27,11225,922
Total stockholders' equity:136,780135,941141,675159,011135,261182,826180,867
TOTAL LIABILITIES AND EQUITY:161,736163,512171,786188,851169,023308,578314,777

Income Statement (P&L) ($ in thousands)

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
Revenues42,83246,27660,01451,116111,196114,609145,855
Revenue, net 114,609145,855
Cost of revenue(29,561)(33,085)(41,341)(34,932)(84,737)(84,568)(103,103)
Cost of goods and services sold(29,561)(33,085)(41,341)(34,932) (84,568)(103,103)
Gross profit:13,27113,19118,67316,18426,45930,04142,752
Operating expenses(6,824)(7,683)(7,932)(8,968)(24,393)(20,052)(21,746)
Operating income:6,4475,50810,7417,2162,0669,98921,006
Interest and debt expense    (2,269)(1,432)(1,657)
Other undisclosed income from continuing operations before equity method investments, income taxes1,7771,7773,3308811,3331,7041,149
Income from continuing operations before equity method investments, income taxes:8,2247,28514,0718,0971,13010,26120,498
Other undisclosed loss from continuing operations before income taxes(2,327)      
Income from continuing operations before income taxes:5,8977,28514,0718,0971,13010,26120,498
Income tax expense (benefit)(1,769)(2,093)(3,866)(1,791)19,465(978)(2,469)
Income from continuing operations:4,1285,19210,2056,30620,5959,28318,029
Income (loss) from discontinued operations76(328)(651)107,239   
Net income:4,2044,8649,554113,54520,5959,28318,029
Other undisclosed net loss attributable to parent  (2)    
Net income available to common stockholders, diluted:4,2044,8649,552113,54520,5959,28318,029

Comprehensive Income ($ in thousands)

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
Net income:4,2044,8649,554113,54520,5959,28318,029
Other comprehensive income (loss)     (445)3
Comprehensive income:4,2044,8649,554113,54520,5958,83818,032
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,827)(1,004)688(153)(895)  
Comprehensive income, net of tax, attributable to parent:2,3773,86010,242113,39219,7008,83818,032

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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