Park Electrochemical Corp.("Park" or the "Company") is a global advanced materials company which develops, manufactures, markets and sells high-technology digital and RF/microwave printed circuit materials products principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies products for the aerospace markets. Park's core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company's manufacturing facilities are located in Singapore, France, Kansas, Arizonaand California. The Company also maintains research and development facilities in Arizona, Kansasand Singapore. Financial Overview The Company's total net sales worldwide in the 13-week period and 26-week period ended September 1, 2013were 4% lower and 5% lower, respectively, than in last year's comparable periods principally as a result of lower sales of the Company's printed circuit materials products in Asiaand Europe, partially offset by higher sales of such products in North America. The declines in the Company's sales of printed circuit materials products were partially offset by increases in the Company's sales of aerospace composite materials, parts and assemblies products in the 13-week and 26-week periods ended September 1, 2013compared to sales of such products in last year's comparable periods. Nevertheless, the Company's total net sales worldwide in the 13-week period ended September 1, 2013were higher than its total net sales in the three immediately preceding fiscal quarters, which were the 13 weeks ended June 2, 2013, the 14 weeks ended March 3, 2013and the 13 weeks ended November 25, 2012. Despite the lower total net sales in the 13-week and 26-week periods ended September 1, 2013than in last year's comparable periods, the Company's gross profit margins, measured as percentages of sales, increased to 30.6% in the 13 weeks ended September 1, 2013and to 30.3% in the 26 weeks ended September 1, 2013from 28.4% and 28.3%, respectively, in last year's comparable periods. Such gross margin increases resulted from the improved operating performance of the Company's Park Aerospace Technologies Corp.("PATC") business unit in Newton, Kansasin the 2014 fiscal year 13 and 26 week periods and the cost reductions resulting from the closures of the Company's Park Advanced Composite Materials, Inc.("PACM") facility located in Waterbury, Connecticutand the Nelco Technology (Zhuhai FTZ) Ltd. ("Nelco Zhuhai") facility located in the Free Trade Zonein Zhuhai, Chinain the 2013 fiscal year. The increases in the gross profit margins were also attributable to the benefits from the higher percentage of sales of higher margin, high performance printed circuit materials products in the 2014 fiscal year periods than in the 2013 fiscal year comparable periods.