8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2020

Preformed Line Products Company

(Exact name of Registrant as Specified in Its Charter)

Registrant’s Telephone Number, Including Area Code: (440) 461-5200

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02.      RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On August 6, 2020, Preformed Line Products Company issued a press release announcing earnings for the quarter ended June 30, 2020.  A copy of the press release is attached hereto as Exhibit 99.1.  This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except, as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01      FINANCIAL STATEMENTS AND EXHIBITS

(d)      Exhibits

99.1          Press release dated August 6, 2020, announcing earnings for the quarter ended June 30, 2020

104          Cover Page Interactive Data File (embedded within the Inline XBRL document).

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 hereunto duly authorized.

PREFORMED LINE PRODUCTS COMPANY

/s/ Andrew S. Klaus

Andrew S. Klaus, CFO

DATED:  August 6, 2020

Exhibit 99.1

Preformed Line Products Announces Second Quarter And First Half 2020 Results

MAYFIELD VILLAGE, Ohio, Aug. 6, 2020 /PRNewswire/ -- Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its second quarter and first six months of 2020.

Net income for the quarter ended June 30, 2020 was $10.5 million, or $2.11 per diluted share, compared to $7.9 million, or $1.56 per diluted share, for the comparable period in 2019.

Net sales in the second quarter of 2020 increased 2% to $117.6 million, compared to $114.8 million in the second quarter of 2019.

Net income for the six months ended June 30, 2020 was $14.1 million, or $2.84 per diluted share, compared to $9.7 million, or $1.92 per diluted share, for the comparable period in 2019.

Net sales increased 4% to $220.5 million for the first six months of 2020 compared to $212.0 million in the first six months of 2019.

Currency translation rates unfavorably impacted net sales by $7.1 million for the quarter and $11.3 million for the six months ended June 30, 2020. Currency had an unfavorable impact on net income of $.5 million for the quarter and $.7 million for the first six months of 2020.

Rob Ruhlman, Chairman and Chief Executive Officer, said, "I am so proud of our PLP employees who have gone above and beyond to serve our customers during these challenging times. Our year over year increase in net sales was largely attributable to growth in PLP USA which was certainly aided by our commitment to maintaining a significant manufacturing footprint in the USA. We appreciate the relationships we have with our PLP USA customers who value our ability to serve their product needs from our plants in Albemarle, North Carolina and Rogers, Arkansas allowing them to quickly support their customers. The challenges brought on by COVID-19 will unfortunately be with us for some time. While the extent to which COVID-19 will impact our future operations is largely unknown, we will continue to focus on the safety and well-being of our employees, their families, our customers and our valued suppliers."

Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.

Preformed's world headquarters are in Cleveland, Ohio, and the Company operates two domestic manufacturing centers located in Rogers, Arkansas, and Albemarle, North Carolina. The Company serves its worldwide market through international operations in Argentina, Australia, Austria, Brazil, Canada, China, Colombia, Czech Republic, England, France, Indonesia, Malaysia, Mexico, New Zealand, Poland, Russia, South Africa, Spain, Thailand and Vietnam.

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the uncertainty in business conditions and economy due to COVID-19 including the severity and duration of business disruption caused by the pandemic, the strength of the economy and demand for the Company's products and the mix of products sold, the relative degree of competitive and customer price pressure on the Company's products, the cost, availability and quality of raw materials required for the manufacture of products, and the Company's ability to continue to develop proprietary technology and maintain high quality products and customer service to meet or exceed new industry performance standards and individual customer expectations, and other factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company's 2019 Annual Report on Form 10-K filed with the SEC on March 6, 2020 and subsequent filings with the SEC. The Annual Report on Form 10-K and the Company's other filings with the SEC can be found on the SEC's website at http://www.sec.gov. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

All values are in US Dollars.

CONTACT: Andrew S. Klaus, Preformed Line Products, (440) 473-9246