Park Aerospace Corp. develops and manufactures advanced composite materials and structures for aerospace markets, serving OEMs and tier 1 suppliers globally.

# Company Overview: Park Aerospace Corp.

## Business Description
- **Industry:** Aerospace composites and structures
- **Core Activities:**
  - Development and manufacturing of advanced composite materials
  - Designing and fabricating composite parts, structures, and assemblies
  - Producing low-volume aerospace tooling and prototype structures
- **Products:**
  - Thermoset prepregs (resin formulations with reinforcement fabrics such as carbon fiber, fiberglass, aramids)
  - Specialty ablative materials for rocket motors and nozzles
  - Lightning strike protection materials
  - Film adhesives
  - Radome materials for antenna covers
  - Proprietary product lines: SigmaStrut™, AlphaStrut™

## Target Markets & Uses
- Primary/Secondary structures for:
  - Jet engines
  - Commercial and regional transport aircraft
  - Military aircraft
  - Unmanned Aerial Vehicles (UAVs/drones)
  - Business jets
  - General aviation aircraft
  - Rotary wing aircraft
- Spacecraft and rocket components:
  - Rocket motor heat shields
  - Nozzle components
- Prototype, development, special mission aircraft, aircraft spares for legacy military/civilian planes, and exotic spacecraft

## Operations & Facilities
- Main manufacturing and R&D located in **Newton, Kansas**
- Recent expansion in Newton, Kansas, doubling manufacturing capacity, including new hot-melt film/tape lines, mixing and testing labs
- Capabilities include polymer chemistry formulation, coating technology, composite structure development, and low-volume tooling

## Customers & Market Position
- Significant customer concentration: approximately **66%** of net sales from the biggest customers are **subtier suppliers of GE Aerospace**
- No other customer accounted for 10% or more of total worldwide sales in the last three fiscal years
- Customers include OEMs (original equipment manufacturers) and tier 1 suppliers in aerospace
- Products are used in FAA-certified aircraft and defense programs

## Revenue & Financials (Fiscal Year Ending March 2, 2025)
- **Net Sales:** \$62.0 million (11% increase from \$56.0 million in 2024)
- **Gross Profit:** \$17.6 million (28.4% margin)
- **Net Earnings:** \$5.9 million (down from \$7.5 million in 2024, a 21% decrease), including a storm damage charge of \$1.1 million
- **Employees:** 132 (as of March 2, 2025)

## Key Financial Highlights
- Total market value of common equity held by non-affiliates: **\$245.5 million** (as of August 30, 2024)
- Shares Outstanding: approximately **19.85 million** (as of May 19, 2025)
- Dividends: Regular quarterly dividend of **\$0.125 per share**
- No material legal proceedings or unresolved staff comments

## Summary
Park Aerospace Corp. specializes in the development and production of high-performance composite materials and structures for the aerospace industry. It serves primary aerospace OEMs, tier 1 suppliers, and defense contractors, with key markets including commercial and military aircraft, space vehicles, and rocket systems. The company has approximately 132 employees, significant customer concentration with a major customer base linked to GE Aerospace, and reported \$62 million in revenue for the fiscal year ending March 2, 2025. Despite recent challenges such as storm damage, the company maintains a strong financial position with a market value of approximately \$245.5 million.

Park Aerospace Corp. develops and manufactures advanced composite materials specifically for the aerospace industry, focusing on a diverse range of applications including jet engines and military aircraft.

# Park Aerospace Corp.

## Business
Park Aerospace develops and manufactures advanced composite materials for the aerospace industry. Core products include engineered thermoset composites, film adhesives, and specialized materials used in composite structures, ablative materials for rocket motors and nozzles, and finished composite parts and assemblies such as SigmaStrut™ and AlphaStrut™.

## Manufacturing Facilities
- Main facility: Newton, Kansas  
  - Size: 183,500 square feet  
  - Capabilities: Development and production of aerospace composite materials, components, and structures

## Workforce
- Employees: 123 as of March 3, 2024  
The company emphasizes employee development, retention, and maintaining a diverse workforce aligned with its values of integrity and humility.

## Customers and Markets
- Primary customers: aerospace OEMs and tier-1 suppliers  
- Customer concentration: Top 10 customers accounted for about 64% of net sales for the fiscal year ended March 3, 2024. Approximately 37.7% of total sales in fiscal years 2024, 2023, and 2022 were to GE Aerospace suppliers.

## Financials and Backlog
- Backlog of orders as of May 31, 2024: $31,085,988

## Products and Innovation
- Produces advanced composite prepregs from proprietary formulations  
- Works directly with customers to develop materials tailored to specific requirements and applications

## Certifications
- NADCAP accreditation for non-metallic materials manufacturing, testing, and composites fabrication  
- AS9100C certification for aerospace quality management systems

## Market Position
- Competes in the aerospace composites market and maintains strategic partnerships, including an exclusive North American distribution agreement with ArianeGroup for RAYCARB C2B® NG products

## Environmental Commitment
- Operates within stringent environmental regulations and develops products that improve fuel efficiency and reduce greenhouse gas emissions

## Risk Factors
- Exposure to geopolitical events and supply chain disruptions  
- Market fluctuations and concentrated customer relationships that could affect sales and profitability  
- Compliance requirements related to environmental regulations

PARK AEROSPACE CORP

10-K / May 30, 2025

10-K / June 11, 2024

10-K / May 30, 2025

Company Overview: Park Aerospace Corp.

Business Description

Target Markets & Uses

Operations & Facilities

Customers & Market Position

Revenue & Financials (Fiscal Year Ending March 2, 2025)

Key Financial Highlights

Summary