Preheat the oven to 400 degrees F. Spray a cookie sheet with nonstick cooking spray. On a floured board, roll out the puff pastry to a 12-inch square. Cut into 16 (3-inch) squares. In a small bowl, mix the apricot preserves with the almonds and cinnamon.
Top each square with a heaping tsp. of the apricot mixture. Fold the squares into half to form triangles. Brush the edges of the triangles with water and press the edges together with the tines of a fork. Place the triangles on the prepared baking sheet.
Bake the empanaditas for 15 minutes or until puffed and golden brown. Transfer to a wire rack and dust with cinnamon or powdered sugar. Serve warm.
