THIRD QUARTER RESULTS

Press Release

Contact: Adrienne Binenstock
Park Electrochemical Corp.
(516) 354-4100

PARK ELECTROCHEMICAL REPORTS THIRD QUARTER RESULTS

LAKE SUCCESS, New York, December 19, 1996......Park Electrochemical Corp. (NYSE-PKE) reported sales of $88,972,000 for the third quarter ended December 1, 1996 as compared to $81,866,000 for the third quarter of the prior year. Park's sales for the first nine months were $246,352,000 as compared to last year's first nine months of $227,215,000.

Park reported earnings of $4,888,000 for the third quarter compared to $4,681,000 for the second quarter ended September 1, 1996 and $6,467,000 for last year's third quarter. Earnings for the first nine months of this year were $12,694,000, which compares to $17,857,000 for last year's first nine months.

Park's third quarter earnings per share were $.43 primary and $.42 fully diluted versus $.40 per share (primary and fully diluted) for the second quarter and $.55 per share (primary and fully diluted) for last year's third quarter. Park's earnings per share for the nine months were $1.09 both primary and fully diluted as compared to $1.52 primary and $1.51 fully diluted for last year's first nine months.

Brian Shore, Park's President and CEO, said, "The market environment for our high technology electronic materials products improved somewhat during the third quarter, and the overall industry trends seem to be positive. However, the industry recovery is still somewhat inconsistent and we believe it is not yet completely clear whether the recovery is sustainable."

Shore added, "During the third quarter, we experienced a significant disruption in our business with our largest customer as a result of the Canadian Auto Workers and United Auto Workers strikes against General Motors. This disruption had a negative impact on our third quarter results."

Shore concluded, "I am quite pleased with the performance of our people during the third quarter considering the mixed market environment in which we operated and the significant disruption experienced with our largest customer. Our short-term outlook for our industry continues to be cautiously optimistic, as we believe much of the excess inventory has now been absorbed and therefore our market is once again being driven more by end market fundamentals than by market distortions based upon inventory overbuilds. We continue to be very optimistic about the long-term prospects for the high technology electronics industry and our company in particular."

Certain portions of this press release which do not relate to historical financial information may be deemed to constitute forward looking statements that are subject to various factors which could cause actual results to differ materially from Park's expectations. Such factors include, but are not limited to, general conditions in the electronics industry, Park's competitive position, the status of customer orders, and the various factors set forth under the caption "Factors That May Affect Future Results" in Item 7 of Park's Annual Report on Form 10-K for the fiscal year ended March 3, 1996.

Park Electrochemical Corp. is a leading designer and producer of advanced electronics materials used to fabricate complex multilayer printed circuit boards, semiconductor packages and interconnection systems. Park also manufactures specialty adhesive tapes, advanced composite materials and microwave circuitry materials.

The performance table...

For the 13 weeks ended*	12/1/96	11/26/95
Sales	$88,972,000	$81,866,000
Net Income	$4,888,000	$6,467,000
Shares Outstanding:
Primary	11,444,000	11,857,000
Fully Diluted	13,835,000	11,857,000
Earnings Per Share:
Primary	$ .43	$ .55
Fully Diluted	$ .42	$ .55

For the 39 weeks ended*	12/1/96	11/26/95
Sales	$246,352,000	$227,215,000
Net Income	$12,694,000	$17,857,000
Shares Outstanding:
Primary	11,617,000	11,763,000
Fully Diluted	11,617,000	11,801,000
Earnings Per Share:
Primary	$1.09	$1.52
Fully Diluted	$1.09	$1.51
*unaudited

A Comparative Operating Analysis for the Recent Periods (in thousands-unaudited):	CURRENT YEAR				PRIOR YEAR
	1st QTR	2nd QTR	3nd QTR	9 MOS	1st QTR	2nd QTR	3nd QTR	9 MOS
Net Sales	$75,406	$81,974	$88,972	$246,352	$75,412	$69,937	$81,866	$227,215
Cost of Sales	63,574	67,120	73,587	204,281	57,695	54,728	63,469	175,892
%	84.3%	81.9%	82.7%	82.9%	76.5%	78.3%	77.5%	77.4%
Gross Profit	11,832	14,854	15,385	42,071	17,717	15,209	18,397	51,323
%	15.7%	18.1%	17.3%	17.1%	23.5%	21.7%	22.5%	22.6%
Operating Expenses	7,801	8,375	8,810	24,986	8,857	7,630	9,312	25,799
%	10.4%	10.2%	9.9%	10.2%	11.7%	10.9%	11.4%	11.4%
Profit from Operations	4,031	6,479	6,575	17,085	8,860	7,579	9,085	25,524
%	5.3%	7.9%	7.4%	6.9%	11.8%	10.8%	11.1%	11.2%
Other Income	498	305	509	1,312	568	551	564	1,683
%	.7%	.4%	.6%	.6%	.7%	.8%	.7%	.8%
Pre-Tax Earnings	4,529	6,784	7,084	18,397	9,428	8,130	9,649	27,207
%	6.0%	8.3%	8.0%	7.5%	12.5%	11.6%	11.8%	12.0%
Income Tax Provision	1,404	2,103	2,196	5,703	3,404	2,764	3,182	9,350
Rate	31.0%	31.0%	31.0%	31.0%	36.1%	34.0%	33.0%	34.4%
Net Earnings	$ 3,125	$ 4,681	$ 4,888	$ 12,694	$ 6,024	$ 5,366	$ 6,467	$17,857
%	4.1%	5.7%	5.5%	5.2%	8.0%	7.7%	7.9%	7.9%

The comparative balance sheet (in thousands-unaudited):
ASSETS	12/1/96	3/3/96
Current Assets:
Cash & Temporary Investments	$ 143,308	$ 143,213
Accounts Receivable, Net	48,222	42,821
Inventories	21,826	27,712
Other Current Assets	4,472	4,026
Total Current Assets	217,828	217,772
Fixed Assets, Net	82,201	76,439
Other Assets	4,406	4,764
Total	$304,435	$298,975

LIABILITIES & STOCKHOLDERS' EQUITY	9/1/96	3/3/96
Current Liabilities
Accounts Payable	$ 37,133	$ 35,924
Accrued Liabilities	16,247	16,941
Income Taxes Payable	3,379	3,942
Total Current Liabilities	56,759	56,807
Long-Term Debt	100,000	100,000
Deferred Income Taxes	7,158	6,324
Deferred Pension Liability	1,417	1,417
Total Liabilities	165,334	164,548
Stockholders' Equity	139,101	134,427
Total	$304,435	$298,975
Equity Per Share	$12.36	$11.64

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