May. 30 at 8:26 PM
$PKE Park Aerospace reports Q4 EPS 13c vs. 6c last year
Reports Q4 revenue
$16.33M vs.
$13.53M last year. The company said, "During the 2024 fiscal year, the Company recorded
$570,000 of pre-tax activist shareholder defense costs,
$65,000 of pre-tax losses on sales of investments to fund the
$1.00 per share special dividend paid on April 6, 2023 to shareholders of record on March 9, 2023 and a
$109,000 pre-tax charge for the modification of previously granted stock options in connection with the special dividend in the 2024 fiscal year first quarter. The Company recorded
$70,000 of pre-tax costs to settle an insurance claim as the result of the bankruptcy of an insurer and
$38,000 of pre-tax recruiting fees in the 2024 fiscal year fourth quarter and fiscal year.
The Company recognized a tax benefit of
$657,000 in the 2024 fiscal year fourth quarter and fiscal year primarily from the reductions of uncertain tax positions related to expiring statutes of limitations on tax positions taken in prior years regarding the taxability of funds repatriated from the Company's subsidiary in Singapore, and the Company recorded
$224,000 of additional tax expense for tax deductions becoming unavailable related to stock options expiring unexercised in the 2024 fiscal year fourth quarter and fiscal year.
The Company recognized a tax benefit of
$2,791,000 in the 2023 fiscal year fourth quarter and fiscal year primarily from the reduction of uncertain tax positions related to expiring statutes of limitations on tax positions taken in prior years regarding the taxability of funds repatriated from the Company's subsidiary in Singapore, and the Company recorded
$61,000 and
$214,000 of additional tax expense for tax deductions becoming unavailable related to stock options expiring unexercised in the 2023 fiscal year fourth quarter and fiscal year, respectively."
