Park Electrochemical Corp. (NYSE-PKE) announced the appointment of Steve Pittari as Vice President-Aerospace of the Company. In this new position, Mr. Pittari will be responsible for the Company’s aerospace activities globally. Mr. Pittari will continue to serve as President of the Company’s Park Aerospace Technologies Corp. aerospace advanced composite materials, parts and assemblies manufacturing and design business unit located in Newton, Kansas. Mr. Pittari will continue to report to Brian Shore, the President and CEO of Park Electrochemical Corp. Prior to his appointment as President of Park Aerospace Technologies Corp. in March 2012, Mr. Pittari had been Senior Director of Manufacturing Engineering of Park Electrochemical Corp. since January 2011. He joined Park Electrochemical Corp. in December 2010 as Director of OEM Program Management. Prior to joining Park, Mr. Pittari was Chief Operating Officer of Sonostics, Inc., an early stage medical device manufacturing company, located in Binghamton, New York since April 2009. Prior to April 2009, Mr. Pittari held management positions with Sanmina-SCI Corporation, a leading electronics contract manufacturing services company. From June 2001 to April 2009, Mr. Pittari was Vice President and General Manager of Sanmina-SCI Owego; from January 1999 to June 2001, he was Managing Director of Sanmina Kuching; and from October 1996 to January 1999, he was Director of Operations of Sanmina Kuching. During the twelve years prior to 1996, Mr. Pittari held several positions with AMP-AKZO, Zycon Corporation and Photocircuits Corporation. Mr. Pittari received a Bachelor of Science degree in Industrial Engineering from Polytechnic Institute of New York and a Master of Business Administration degree from San Jose State University. Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies 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, Connecticut, Kansas, Arizona and California. The Company also maintains R & D facilities in Arizona, Kansas and Singapore.
Shareholders of Park Electrochemical Corp. looking to boost their income beyond the stock's 1.8% annualized dividend yield can sell the August covered call at the $25 strike and collect the premium based on the $1.00 bid, which annualizes to an additional 8.1% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.8% annualized rate in the scenario where the stock is not called away.