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PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS

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CLEVELAND, May 1, 2025 /PRNewswire/ — Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2025.

Q1 2025 Highlights compared to Q1 2024:

Net sales growth of 5%Gross margin increase of 150 bpsNet income and fully diluted EPS increase of 20%

Net sales in the first quarter of 2025 were $148.5 million compared to $140.9 million in the first quarter of 2024, a 5% increase. PLP-USA as well as the international segments recorded sales growth compared to the first quarter of 2024 with the USA business benefiting from increased communication sales and the rest of the world experiencing growth in energy sales. Foreign currency translation had a negative impact of $4.4 million for the first quarter of 2025 net sales.

Net income for the quarter ended March 31, 2025, was $11.5 million, or $2.33 per diluted share, compared to $9.6 million, or $1.94 per diluted share, for the comparable period in 2024. The first quarter of 2025 net income was impacted by an increase in gross profit from higher sales levels, partially offset by higher personnel-related period expenses. Gross profit as a percentage of net sales was 32.8% for the first quarter of 2025, an increase of 150 basis points versus the same quarter in 2024.

Rob Ruhlman, Executive Chairman, said, “After a strong finish in 2024, we are off to a solid start for 2025. I am especially pleased with the sales growth in the USA communications business as well as growth in most of the international operations. While we remain optimistic about continued growth in our primary end markets, we are cautious about the impact on customer demand caused by the newly enacted tariffs. Our strong commitment to USA manufacturing will provide a competitive advantage in the current high-tariff environment, but we will incur certain cost increases related to key commodity inputs necessary for our USA production process, primarily steel and aluminum raw materials and component parts. We are actively working to mitigate the impact of cost increases caused by tariffs and other global commodity cost increases by implementing targeted selling price increases and continued focus on cost containment strategies.  Our current focus is unchanged: provide our customers with the high-quality products and timely service they have come to expect from PLP.”

A presentation on first quarter results will also be available on PLP’s website at www.plp.com/investor-relations.

FORWARD-LOOKING STATEMENTS

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 global business conditions and the economy due to factors such as inflation, rising interest rates, tariffs, labor disruptions, military conflict, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding 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, opportunities for business growth through acquisitions and the ability to successfully integrate any acquired businesses, changes in regulations and tax rates, security breaches, litigation and claims 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 2024 Annual Report on Form 10-K filed with the SEC on March 13, 2025 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.

ABOUT PLP

PLP protects the world’s most critical connections by creating stronger and more reliable networks. The company’s precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.

 

PREFORMED LINE PRODUCTS COMPANY

CONSOLIDATED BALANCE SHEETS

March 31, 2025

December 31, 2024

(Thousands of dollars, except share and per share data)

(Unaudited)

ASSETS

Cash, cash equivalents and restricted cash

$                         54,835

$                         57,244

Accounts receivable, net

118,504

111,402

Inventories, net

135,098

129,913

Prepaid expenses

12,261

11,720

Other current assets

6,024

5,514

TOTAL CURRENT ASSETS

326,722

315,793

Property, plant and equipment, net

203,083

195,086

Goodwill

27,746

26,685

Other intangible assets, net

9,736

9,656

Deferred income taxes

6,284

6,546

Other assets

18,880

20,111

TOTAL ASSETS

$                       592,451

$                       573,877

LIABILITIES AND SHAREHOLDERS’ EQUITY

Trade accounts payable

$                         45,252

$                         41,951

Notes payable to banks

5,845

7,782

Current portion of long-term debt

3,378

2,430

Accrued compensation and other benefits

20,788

25,904

Accrued expenses and other liabilities

30,654

30,346

TOTAL CURRENT LIABILITIES

105,917

108,413

Long-term debt, less current portion

25,682

18,357

Other noncurrent liabilities and deferred income taxes

25,031

24,783

SHAREHOLDERS’ EQUITY

Common shares – $2 par value per share, 15,000,000 shares authorized, 4,940,131
and 4,913,621 issued and outstanding, at March 31, 2025 and December 31, 2024

13,820

13,752

Common shares issued to rabbi trust, 223,034 and 222,887 shares at March 31, 2025
and December 31, 2024, respectively

(9,594)

(9,575)

Deferred compensation liability

9,594

9,575

Paid-in capital

62,205

65,093

Retained earnings

563,678

553,179

Treasury shares, at cost, 1,969,354 and 1,961,772 shares at March 31, 2025 and
December 31, 2024, respectively

(127,812)

(126,800)

Accumulated other comprehensive loss

(76,115)

(82,909)

TOTAL PREFORMED LINE PRODUCTS COMPANY SHAREHOLDERS’ EQUITY

435,776

422,315

Noncontrolling interest

45

9

TOTAL SHAREHOLDERS’ EQUITY

435,821

422,324

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$                       592,451

$                       573,877

 

PREFORMED LINE PRODUCTS COMPANY

STATEMENTS OF CONSOLIDATED INCOME

Three Months Ended March 31,

2025

2024

(Thousands, except per share data)

(Unaudited)

Net sales

$                         148,541

$                         140,904

Cost of products sold

99,870

96,773

GROSS PROFIT

48,671

44,131

Costs and expenses

Selling

12,181

11,900

General and administrative

17,626

16,608

Research and engineering

5,479

5,431

Other operating expense (income), net

255

(1,367)

35,541

32,572

OPERATING INCOME

13,130

11,559

Other income (expense)

Interest income

510

972

Interest expense

(376)

(708)

Other income, net

407

35

541

299

INCOME BEFORE INCOME TAXES

13,671

11,858

Income tax expense

2,118

2,255

NET INCOME

$                           11,553

$                              9,603

Net loss (income) attributable to noncontrolling interests

(36)

(7)

NET INCOME ATTRIBUTABLE TO PREFORMED LINE PRODUCTS COMPANY
SHAREHOLDERS

$                           11,517

$                              9,596

AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:

Basic

4,928

4,915

Diluted

4,950

4,944

EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PREFORMED
LINE PRODUCTS COMPANY SHAREHOLDERS:

Basic

$                                2.34

$                                1.95

Diluted

$                                2.33

$                                1.94

Cash dividends declared per share

$                                0.20

$                                0.20

 

 

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SOURCE Preformed Line Products Company

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/laifen-expands-us-retail-footprint-with-costco-launch-of-best-selling-se-hair-dryer-302828573.html

SOURCE Laifen

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

View original content to download multimedia:https://www.prnewswire.com/news-releases/from-remote-racing-to-embodied-ai-fibocom-and-intedigo-bring-5g-bidirectional-data-transmission-into-real-world-applications-302828996.html

SOURCE Fibocom Wireless Inc.

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