UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Amendment No. 1
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 18, 1994
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PARK ELECTROCHEMICAL CORP.
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(Exact name of registrant as specified in its charter)
New York 1-4415 11-1734643
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(State or other Jurisdic- (Commission (IRS Employer
tion of Incorporation) File Number) Ident. No.)
5 Dakota Drive, Lake Success, New York 11042
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(Address of Principal Executive Offices)
(516) 354-4100
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Registrant's telephone number, including area code
Item 4. Changes in Registrant's Certifying Accountant.
On January 18, 1994, Park Electrochemical Corp., a New York
corporation (the "Company"), engaged Ernst & Young ("E & Y"), independent
auditors, as its accountants to audit the financial statements of the
Company and certain subsidiaries for the year ended February 27, 1994. In
connection with such engagement, on January 18, 1994, the Company dismissed
Deloitte & Touche ("D & T") as independent accountants for the Company and
such subsidiaries. The engagement of E & Y and the dismissal of D & T was
approved by the Company's Board of Directors.
In connection with the audits of the Company's financial
statements for the fiscal years ended March 1, 1992 and February 28, 1993,
and in the subsequent interim period to the date of dismissal of D & T,
there did not exist any disagreement (within the meaning of Rule
304(a)(1)(iv) of Regulation S-K) between the Company and D & T on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure which, if not resolved to the satisfaction of
D & T, would have caused D & T to have referred to the subject matter of the
disagreement in connection with its report on the Company's financial
statements. D & T's reports on the Company's financial statements for the
fiscal years ended March 1, 1992 and February 28, 1993 contained no adverse
opinion or disclaimer of opinion, and were not qualified or modified as to
uncertainty, audit scope or accounting principles. During the Company's two
most recent fiscal years and the subsequent interim period to the date of
dismissal of D & T there were no "reportable events", as that term is
defined in Rule 304(a)(1)(v) of Regulation S-K.
The decision to change independent accountants was approved by
the Company's Board of Directors. The Audit Committee of the Company's
Board of Directors did not separately recommend or approve the change in the
Company's independent accountants.
Prior to the engagement of E & Y, no member of that firm was
consulted by the Company (1) for the purpose of obtaining a written report
or oral advice with regard to the application of accounting principles to
a specified transaction of the Company or any of its subsidiaries, (2)
regarding the type of audit opinion that might be rendered on the Company's
financial statements or (3) regarding any matter that was the subject of a
disagreement (within the meaning of Rule 304(a)(1)(iv) of Regulation S-K)
between the Company and D & T or which constituted a reportable event (as
defined in Rule 304(a)(1)(iv) of Regulation S-K).
D & T has furnished the Company with a letter, dated January 25,
1994, addressed to the Securities and Exchange Commission relating to the
Company's disclosure set forth in the second paragraph of this Item 4 of
this Report. A copy of D & T's letter is filed as an exhibit to this
Report.
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Item 7. Financial Statements and Exhibits.
(c) Exhibits
16 Letter, dated January 25, 1994, from Deloitte &
Touche to the Securities and Exchange Commission
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PARK ELECTROCHEMICAL CORP.
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(Registrant)
Date: January 27, 1994 By: /s/ Brian Shore
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Brian Shore
Vice President
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EXHIBIT INDEX
Page
16 Letter, dated January 25, 1994, from
Deloitte & Touche to the Securities and
Exchange Commission 6
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Exhibit 16
Deloitte & Touche
1633 Broadway
New York, New York 10019-6754
Telephone: (212) 489-1600
Facsimile: (212) 489-6944
International & Domestic
Telex: 4995706
January 25, 1994
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in the second paragraph of Item 4
of Form 8-K of Park Electrochemical Corp. dated January 21, 1994.
Yours truly,
/s/ Deloitte & Touche
Deloitte & Touche
Tohmatsu
International
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