Note 1 - Consolidated Financial Statements	9 Months Ended
Dec. 01, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 . CONSOLIDATED FINANCIAL STATEMENTS The Condensed Consolidated Balance Sheet as of December 1, 2019, the Consolidated Statements of Operations, the Consolidated Statements of Comprehensive Earnings and the Consolidated Statements of Shareholders’ Equity for the 13 weeks and 39 weeks ended December 1, 2019 and November 25, 2018 and the Condensed Consolidated Statements of Cash Flows for the 39 weeks then ended have been prepared by Park Aerospace Corp., formerly Park Electrochemical Corp. (the “Company”), without audit. In the opinion of management, these unaudited consolidated financial statements contain all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at December 1, 2019 and the results of operations and cash flows for all periods presented. The Consolidated Statements of Operations are not necessarily indicative of the results to be expected for the full fiscal year or any subsequent interim period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10 -K for the fiscal year ended March 3, 2019. There have been no significant changes to such accounting policies during the 39 weeks ended December 1, 2019, except for adoption of Accounting Standards Codification (“ASC”) 842. (See Note 13, Accounting Pronouncements) On July 25, 2018, the Company entered into an agreement to sell its Electronics Business for $145,000 in cash. The Company completed this transaction on December 4, 2018. ( See Note 11, Discontinued Operations) The Company has classified the operating results of its Electronics Business, together with certain costs related to the transaction, as discontinued operations, net of tax, in the Consolidated Statements of Operations, in accordance with ASC 205 - 20 Discontinued Operations. (See Note 11, Discontinued Operations) On July 16, 2019, the Company filed with the State of New York Department of State a Certificate of Amendment of its Restated Certificate of Incorporation, as amended, changing its name to “Park Aerospace Corp.” after the Board of Directors of the Company approved such amendment and the shareholders of the Company approved such amendment at the Annual Meeting of Shareholders. On July 16, 2019, the Company also filed with the Secretary of State of the State of Kansas, a Certificate of Ownership and Merger whereby the Company’s wholly owned subsidiary, Park Aerospace Technologies Corp. (“PATC”), located at the Newton, Kansas Airport was merged into the Company and ceased to exist.

CONSOLIDATED FINANCIAL STATEMENTS

The Condensed Consolidated Balance Sheet as of

December 1, 2019,

the Consolidated Statements of Operations, the Consolidated Statements of Comprehensive Earnings and the Consolidated Statements of Shareholders’ Equity for the

weeks and

weeks ended

December 1, 2019

and

November 25, 2018

and the Condensed Consolidated Statements of Cash Flows for the

weeks then ended have been prepared by Park Aerospace Corp., formerly Park Electrochemical Corp. (the “Company”), without audit. In the opinion of management, these unaudited consolidated financial statements contain all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at

December 1, 2019

and the results of operations and cash flows for all periods presented. The Consolidated Statements of Operations are

not

necessarily indicative of the results to be expected for the full fiscal year or any subsequent interim period.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form

-K for the fiscal year ended

March 3, 2019.

There have been

significant changes to such accounting policies during the

weeks ended

December 1, 2019,

except for adoption of Accounting Standards Codification (“ASC”)

842.

(See Note

13,

Accounting Pronouncements)

July 25, 2018,

the Company entered into an agreement to sell its Electronics Business for

$145,000

in cash. The Company completed this transaction on

December 4, 2018. (

See Note

11,

Discontinued Operations)

The Company has classified the operating results of its Electronics Business, together with certain costs related to the transaction, as discontinued operations, net of tax, in the Consolidated Statements of Operations, in accordance with ASC

205

Discontinued Operations.

(See Note

11,

Discontinued Operations)

July 16, 2019,

the Company filed with the State of New York Department of State a Certificate of Amendment of its Restated Certificate of Incorporation, as amended, changing its name to “Park Aerospace Corp.” after the Board of Directors of the Company approved such amendment and the shareholders of the Company approved such amendment at the Annual Meeting of Shareholders. On

July 16, 2019,

the Company also filed with the Secretary of State of the State of Kansas, a Certificate of Ownership and Merger whereby the Company’s wholly owned subsidiary, Park Aerospace Technologies Corp. (“PATC”), located at the Newton, Kansas Airport was merged into the Company and ceased to exist.