PARK AEROSPACE : Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)

Published: 2021-10-08 12:41:05 ET PKE

General:

Even after the COVID-19 Pandemic has subsided, the Company may continue to experience adverse impacts to its business as a result of the potential continuing impact of the economic crisis on the markets the Company serves.

Selling, General and Administrative Expenses

Earnings from Continuing Operations

Net Earnings from Continuing Operations

On July 25, 2018, the Company entered into a definitive agreement to sell its Electronics Business for $145.0 million in cash. The Company completed this transaction on December 4, 2018.

Basic and Diluted Earnings Per Share

Liquidity and Capital Resources - Continuing Operations:

Net cash provided by operating activities $ 2,976 $ 6,321

Cash and Marketable Securities

? accounts receivable increased by 11% at August 29, 2021 compared to February

? prepaid and other current assets decreased by 7% at August 29, 2021 compared

? accounts payable decreased by 24% at August 29, 2021 compared to February 28,

? accrued liabilities decreased by 17% at August 29, 2021 compared to February

28, 2021 primarily due to decreases in restructuring, bonus and profit sharing

In addition, the Company paid $4.1 million in cash dividends in each of the 26-week periods ended August 29, 2021 and August 30, 2020.

The Company's current ratio (the ratio of current assets to current liabilities) was 18.6 to 1.0 at August 29, 2021 compared to 16.6 to 1.0 at February 28, 2021.

The Company is not aware of any circumstances or events that are reasonably likely to occur that could materially affect its liquidity. The Company further believes its balance sheet and financial position to be very strong.

Off-Balance Sheet Arrangements:

Critical Accounting Policies and Estimates:

Factors That May Affect Future Results.