Park Aerospace Corp. Reports Incorrect Reporting by Independent Transcription Services and News Articles of Its Fiscal Year 2025 Third Quarter Investor Conference Call and Presentation
NEWTON, Kan., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) reports incorrect reporting by independent transcription services and news articles relating to the Company's fiscal year 2025 third quarter ended December 1, 2024 Investor Conference Call and Investor Presentation which occurred on January 14, 2025.
The Company's fiscal year 2025 third quarter Investor Presentation made several references to the "requalification", by one of the Company's customers, of products supplied by one of the Company's suppliers. In addition, during the third quarter Investor Conference Call, Brian E. Shore, the Company's Chairman and CEO, made several references to the "requalification" or "requal" of the supplier's products. Unfortunately, several independent computer or AI generated transcription services incorrectly reported the references during the Investor Conference Call to the "requalification" or "requal" of the supplier's products as the "recall" of its products. In addition, several news articles written about the Company's third quarter Investor Conference Call incorrectly reported that there was a "recall" of the Company's supplier's products. Apparently, the authors of these articles relied on the incorrect computer or AI generated transcriptions rather than the Company's Investor Call Presentation and the actual comments made by Mr. Shore during the Investor Conference Call. There was no reference, in the Company's third quarter Investor Presentation, to any recall of any products, and the term "recall" was not used in the Presentation. There was no reference, during the third quarter Investor Conference Call, to any recall of any products. The term "recall" was never used during the Investor Call.
The Company is not responsible for the accuracy of independent computer or AI generated transcriptions of, or independent reports about, the Company's investor conference calls, and the Company has no obligation to correct inaccuracies in such independently generated transcriptions or independent reports now or in the future. However, while a "requalification" is a fairly common and benign event in the aerospace industry, a "recall" has potentially very negative implications. Accordingly, the Company has elected, in this instance, to correct the incorrect transcriptions and articles. As stated, there was no reference in the Company's third quarter Investor Conference Call or Investor Presentation to any "recall" of any suppliers' products, and the Company is not aware of any such recall.
The Company's third quarter Investor Presentation and third quarter Investor Conference Call audio replay are available on the Company's website under the caption "Shareholders" and may be viewed and listened to by investors and other interested parties at any time. The Company recommends that investors and other interested parties consult the Company's website for accurate information about the Company and its business. In addition, investors and news services are welcome to contact the Company directly at their convenience to have their questions answered and to have information clarified.
Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park's advanced composite materials include film adhesives (Aeroadhere®) and lightning strike protection materials (Electroglide®). Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park's advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as "drones"), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park's advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park's composite parts and structures (which include Park's proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park's objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up.
Additional corporate information is available on the Company's website at www.parkaerospace.com.
Contact: Donna D'Amico-Annitto
486 North Oliver Road, Bldg. Z
Newton, Kansas 67114
(316) 283-6500
