Park Electrochemical Corp. (NYSE:PKE) said that less sales of its electronic components lead it to report a 18.8 percent drop in its second quarter net income on Tuesday.
The company said that for the three month period it earned a total of $7.7 million, or 37 cents per share, down from the $9.4 million, or 46 cents per share earnings that it reported during the same quarter in 2010.
Revenue also dropped by 7.4 percent to $50.4 million from $54.5 million last year.
So far today Park Electrochemical trades 1.3 percent higher at $22.94 a share.
American Greetings Corp. (NYSE:AM) is sitting more than 5.7 percent lower today despite the company reporting a 71 percent increase in its second quarter earnings. The company said that it is wary about the remainder of the year as the economy remains uncertain.
It said that for the three months which ended on August 26th it earned a total of $14.5 million, or 35 cents per share, up from $8.5 million, or 21 cents per share that it reported during the same quarter last year. Part of the improved earnings where due to the sale of some of the company’s minor characters and that last years results included losses relating to the integration of Papyrus and Recycled Paper Greetings into the company’s portfolio.
So far today American Greetings trades 5.79 percent lower at $19.19 a share.
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