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Mayfield Village, Ohio, November 3, 2017 – Preformed Line Products Company (Nasdaq: PLPC) today reported financial results for its third quarter and first nine months of 2017. 

Net income for the quarter ended September 30, 2017 was $6.3 million, or $1.23 per diluted share, compared to $4.7 million, or $.92 per diluted share, for the comparable period in 2016.

Net sales in the third quarter of 2017 were $99.2 million, compared to $88.3 million in the third quarter of 2016. 

Net income for the nine months ended September 30, 2017 was $12.0 million, or $2.33 per diluted share, compared to $10.2 million, or $1.95 per diluted share, for the comparable period in 2016. 

Net sales were $281.3 million for the first nine months of 2017 compared to $250.2 million in the first nine months of 2016. 

Currency translation rates favorably impacted net sales by $1.6 million for the third quarter and $3.0 million for the first nine months of 2017, and had a negligible impact on net income for the third quarter and for the first nine months of 2017. 

Rob Ruhlman, Chairman and Chief Executive Officer, said, “Our world-wide balanced business portfolio has now delivered double-digit consolidated sales growth in back-to-back quarters. Even though there has been no relief in rising raw material costs, our gross profit growth exceeded our sales growth for the quarter. This led us to our largest third quarter bottom line results and generation of cash flow from operations in the last five years.”

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