Benzinga | Jan 6, 2022 08:04AM EST

Park Aerospace Clocks 34% Sales Growth In Q3

* Park Aerospace Corp (NYSE:PKE) reported third-quarter FY22 sales growth of 33.7% year-over-year to $13.86 million,

* Adjusted EPS improved to $0.09 for the quarter compared to $0.05 in 3Q21.

* The gross margin expanded by 310 bps to 27.7%.

* Net earnings from continuing operations totaled $1.74 million (+67.9% Y/Y), and the margin expanded by 256 bps to 12.6%.

* Adjusted EBITDA was $2.7 million, compared to $1.38 million in 3Q21, and margin expanded by 595 bps to 19.3%.

* The company's cash and equivalents totaled $109.63 million as of November 28, 2021.

* Price Action: PKE shares closed higher by 0.68% at $13.33 on Wednesday.