Technology
PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS
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2 months agoon
By
CLEVELAND, April 29, 2026 /PRNewswire/ — Preformed Line Products Company (NASDAQ: PLPC) today reported financial results for its first quarter of 2026.
Q1 2026 highlights:
Quarterly net sales of $176.3 million, an increase of 19% from Q1 2025.USA sales growth of 26% from Q1 2025, driven by robust demand in energy and communications markets.Gross profit margin of 31.3%, up 150 basis points from Q4 2025.Diluted EPS of $2.14 per share, up 24% from Q4 2025.
Net sales in the first quarter of 2026 were $176.3 million compared to $148.5 million in the first quarter of 2025, a 19% increase. All segments recorded sales growth compared to the first quarter of 2025, with the PLP-USA business growing by 26%, primarily due to higher demand for energy and communications products. Foreign currency translation had a favorable impact of $7.2 million on the first quarter of 2026 net sales.
Net income for the quarter ended March 31, 2026, was $10.5 million, or $2.14 per diluted share, compared to $11.5 million, or $2.33 per diluted share, for the comparable period in 2025. While gross profit was up approximately $6.5 million from Q1 2025, period expenses were impacted by increased personnel costs supporting strategic market growth in core product offerings in both energy and communications, primarily for sales, sales support and engineering resources. Net income for the first quarter of 2026 was affected by an income tax charge of $1.3 million related to PLP’s French subsidiary. Foreign currency translation had a favorable impact of $0.1 million on the first quarter of 2026 net income. Compared against Q4 2025, which contained many of the same tariff headwinds that impacted Q1 2025, gross profit margins, net income, and diluted EPS all increased.
“As we reflect on the first quarter of 2026, I am proud of the Company’s continued resilience in a challenging and dynamic global environment,” said Rob Ruhlman, Executive Chairman. “Our team achieved exceptional sales growth this quarter, propelled by outstanding results from our U.S. manufacturing operations and our ability to meet rising demand. We faced margin pressure from higher manufacturing and ongoing tariff-related costs, as well as volatility in commodity prices. However, our impressive 150 basis point increase in gross profit percentage from Q4 2025 shows that we are actively managing these challenges through supply chain optimization, pricing strategies, and investment in efficiency and innovation. Our healthy balance sheet and strong liquidity provide flexibility to pursue strategic acquisitions, while also investing in facility modernization and returning capital to our valued shareholders. While the ongoing tariff and geopolitical uncertainties present challenges, I believe our team is well prepared to adapt. Our focus is unchanged: provide our customers with the high-quality products and superior customer 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, international hostilities, political instability, exchange rates, natural disasters and health epidemics, the strength of demand and availability of funding for the Company’s products (including in light of price increases) 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 customer demand, 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 2025 Annual Report on Form 10-K filed with the SEC on March 5, 2026 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 (PLPC)
CONSOLIDATED BALANCE SHEET
March 31, 2026
December 31, 2025
(Thousands of dollars, except share and per share data)
(Unaudited)
ASSETS
Cash, cash equivalents and restricted cash
$ 69,452
$ 83,389
Accounts receivable, net
130,840
113,175
Inventories, net
151,810
148,730
Prepaid expenses
12,998
12,961
Other current assets
6,287
5,206
TOTAL CURRENT ASSETS
371,387
363,461
Property, plant and equipment, net
225,279
222,781
Goodwill
30,351
30,684
Other intangible assets, net
9,837
10,140
Deferred income taxes
6,794
7,481
Other assets
18,181
19,074
TOTAL ASSETS
$ 661,829
$ 653,621
LIABILITIES AND SHAREHOLDERS’ EQUITY
Trade accounts payable
$ 56,766
$ 49,520
Notes payable to banks
1,318
1,213
Current portion of long-term debt
5,891
5,392
Accrued compensation and other benefits
24,084
29,207
Accrued expenses and other liabilities
35,532
29,378
TOTAL CURRENT LIABILITIES
123,591
114,710
Long-term debt, less current portion
34,737
32,860
Other noncurrent liabilities and deferred income taxes
29,919
30,500
SHAREHOLDERS’ EQUITY
Common shares $2 par value per share, 15,000,000 shares authorized, 4,888,012 and 4,907,787 issued and outstanding, at March 31, 2026 and December 31, 2025
13,890
13,860
Common shares issued to rabbi trust, 222,506 and 222,506 shares at March 31, 2026 and December 31, 2025, respectively
(9,586)
(9,586)
Deferred compensation liability
9,586
9,586
Paid-in capital
66,047
67,217
Retained earnings
593,869
584,360
Treasury shares, at cost, 2,056,379 and 2,021,940 shares at March 31, 2026 and December 31, 2025, respectively
(145,492)
(136,554)
Accumulated other comprehensive loss
(54,790)
(53,365)
TOTAL PLPC SHAREHOLDERS’ EQUITY
473,524
475,518
Noncontrolling interest
58
33
TOTAL SHAREHOLDERS’ EQUITY
473,582
475,551
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$ 661,829
$ 653,621
PREFORMED LINE PRODUCTS COMPANY
STATEMENTS OF CONSOLIDATED INCOME
Three Months Ended March 31,
2026
2025
(Thousands, except per share data)
(Unaudited)
Net sales
$ 176,278
$ 148,541
Cost of products sold
121,058
99,870
GROSS PROFIT
55,220
48,671
Costs and expenses
Selling
13,769
12,181
General and administrative
21,053
17,626
Research and engineering
6,736
5,479
Other operating (income) expense, net
(54)
255
41,504
35,541
OPERATING INCOME
13,716
13,130
Other income (expense)
Interest income
777
510
Interest expense
(232)
(376)
Other income, net
69
407
614
541
INCOME BEFORE INCOME TAXES
14,330
13,671
Income tax expense
3,781
2,118
NET INCOME
$ 10,549
$ 11,553
Net loss (income) attributable to noncontrolling interests
(25)
(36)
NET INCOME ATTRIBUTABLE TO PLPC SHAREHOLDERS
$ 10,524
$ 11,517
AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:
Basic
4,906
4,928
Diluted
4,927
4,950
EARNINGS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO PLPC SHAREHOLDERS:
Basic
$ 2.15
$ 2.34
Diluted
$ 2.14
$ 2.33
Cash dividends declared per share
$ 0.21
$ 0.20
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SOURCE Preformed Line Products Company
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In the news release, MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC, issued 19-Jun-2026 by MDA Space over PR Newswire, we are advised by the company that a change has been made. The complete, corrected release follows:
MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC
Expands Total Addressable Market for MDA SpacePositions company to further pursue substantial US defence market opportunitiesAdds a profitable, cash-generating business with 18-year historyTransaction expected to be accretive to Adjusted EBITDA1 and Adjusted EPS1 in 2027Adds high-quality spacecraft and satellite component supplier business and US$3.5B (approx. C$4.9B) to pipelineComplementary technology and customer setAdds key talent & manufacturing facilities in Denver, Colorado space & aerospace hub
TORONTO, June 19, 2026 /PRNewswire/ – MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the “Company”), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX’s Raytheon business.
With more than 85 spacecraft launched and 3,500+ products on orbit, BCT has established impressive flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the US government market for defence space missions. With over 400 highly skilled employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy.
“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,” said Mike Greenley, CEO of MDA Space. “Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation.”
Transaction Details
The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA.
Conference Call
MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or +44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations.
A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and strategies to achieve these objectives, as well as information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates, intentions and views of future events, including statements regarding the proposed acquisition, the anticipated timing for the closing of the acquisition, the anticipated benefits, synergies and growth opportunities expected to result from the acquisition, and any projected, estimated or forecasted financial information presented in connection therewith. There can be no assurance that: (i) the acquisition will be completed on the anticipated timeline, or at all, and the closing of the acquisition may be delayed or may not occur within the anticipated timeframe or at all; (ii) the conditions to the closing of the acquisition will be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the failure to obtain any such approvals or satisfy any such conditions could delay or prevent the closing of the acquisition; (iii) any projected, estimated or forecasted financial information presented in connection with the acquisition will be achieved, as such projections are based on assumptions that may prove to be incorrect, and actual results may differ materially from those projected, estimated or forecasted; and (iv) the anticipated strategic benefits, growth opportunities and synergies described in connection with the acquisition will be realized as expected, or at all, as such benefits may take longer to realize than anticipated, may be more costly to achieve than expected, or may not be realized at all.
All forward-looking statements are based on assumptions and analyses made by MDA Space in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026. Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ABOUT MDA SPACE
Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission — bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit mda.space.
SOCIAL MEDIA
LinkedIn: LinkedIn.com/company/MDAspace
X: X.com/MDA_space
Facebook: Facebook.com/MDAspace
YouTube: YouTube.com/c/MDAspace
Instagram: instagram.com/MDA_space
1 Non-IFRS measure
Correction: The MDA logo has been exchanged for the MDA Space logo.
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SOURCE MDA Space
Technology
BSE Index Services launches BSE Saatvik 100 Index
Published
39 minutes agoon
June 19, 2026By
MUMBAI, India, June 19, 2026 /PRNewswire/ — BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of India’s 1st Saatvik Index, BSE Saatvik 100. The Index is derived from the constituents of BSE 500 Index that align with Saatvik principles.
The BSE Saatvik 100 Index has a base value of 1000, first value date is 20th June 2005, and it is reconstituted Semi-annually in June & December.
Speaking at the launch, Mr. Ashutosh Singh, MD & CEO, BSE Index Services Pvt. Ltd. said, “The launch of the BSE Saatvik 100 Index marks an important step in broadening the range of thematic indices available to investors seeking alignment between their investment decisions and value-based principles. As capital markets continue to evolve, investor preferences are increasingly extending beyond traditional financial metrics to include ethical, cultural and philosophy-driven considerations. The Index represents a distinctive addition to India’s indexing landscape and provides market participants with a credible foundation for the development of passive, structured and other investment products aligned with this philosophy.”
This new index can be used for running passive strategies such as ETFs and Index Funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE’s suite of indices.
Click here to know more about the index.
About BSE INDEX SERVICES PRIVATE LIMITED:
BSE Index Services Pvt. Ltd. (formerly Asia Index Pvt. Ltd.) is a wholly owned subsidiary of BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. BSE Index Services Pvt. Ltd aims to provide a full array of indices to global / domestic investors and calculates, publishes, and maintains a diverse family of indices.
About BSE:
BSE is Asia’s oldest exchange and the world’s largest exchange in terms of the number of listed companies. BSE has been playing a prominent role in developing the Indian capital market and has successfully offered an efficient capital raising platform to many companies in India. The benchmark index of BSE, Sensex, is tracked by investors across the globe is also considered as a barometer for the growth of Indian Economy. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds, stock lending and borrowing.
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Technology
Belgravia Hartford Provides Technical Progress Update on gravitio.ai it’s Prediction Intelligence Platform
Published
39 minutes agoon
June 19, 2026By
Gravitio reports 5,874 recorded AI-agent predictions since April 2026, more than 8,000 cloned AI agents, early internal crypto and football prediction-performance metrics, expanded sports coverage, and continued development of its proprietary prediction-performance data layer.
TORONTO, June 19, 2026 /PRNewswire/ – Belgravia Hartford Capital Inc. (CSE: BLGV) (OTCQB: BLGVF) (FRA: ECA) (“Belgravia” or the “Company”) is pleased to provide a technical progress update for https://gravitio.ai (“Gravitio”), the Company’s fully wholly owned AI-powered prediction intelligence platform.
Gravitio has advanced its AI-agent infrastructure, prediction-tracking systems, scoring formulas, sports coverage, and market-signal tools, generating 5,874 recorded AI-agent predictions and expanding to more than 8,000 cloned AI agents across supported categories. These developments strengthen Gravitio’s ability to analyze selected market and event data, generate structured predictions, evaluate outcomes, and build a proprietary prediction-performance data layer.
Internal Prediction Performance
Gravitio’s crypto-market agents have recorded approximately 65% accuracy across selected short-term and long-term crypto prediction categories, based on the internal tracking methodology and completed predictions measured through Gravitio’s internal result-tracking process. For World Cup 2026-related football activity, Gravitio is tracking approximately 60% live accuracy across early tournament data, including match outcomes, scoring, and tournament-related categories.
These internal performance metrics are based on Company records and internal methodology. They have not been independently validated and should be viewed as product-development indicators only, not as guarantees of future prediction accuracy, trading performance, betting results, user outcomes, revenue, or commercial success. Such predictions are not financial advice or recommendations to place any wager or expect financial returns. Past predictions do not guarantee or reflect future outcomes.
User Growth Since Pilot Stage
Since Gravitio began pilot-stage activity in April 2026, the platform has grown to more than 4,000 registered users, primarily through web-based channels, early online discovery, and initial user onboarding. Belgravia views this early registered user base as an initial indicator of interest in Gravitio’s AI-agent, prediction, challenge, and gamification features as the platform advances through its public market rollout.
AI-Agent Infrastructure and Proprietary Data Layer
Gravitio’s AI-agent architecture supports scalable testing across various markets, sports categories, time horizons, prediction models, and data-weighting structures. Beyond generating predictions, this infrastructure underpins a proprietary prediction-performance data layer: every AI-agent prediction, user prediction, confidence score, scoring event, and verified outcome can contribute structured data that may support stronger AI models, agent benchmarking, user-performance scoring, improved rankings, advanced analytics, and potential business-to-business intelligence applications.
Sports, Scoring, and Market-Signal Improvements
Gravitio has expanded its sports prediction coverage beyond FIFA 2026 Tournament to include LALIGA, SERIEA, BUNDESLIGA, LIGUE1, MLS, UCL, MLB, UFC, F1, EUROLEAGUE, NBA, AFL. Gravitio has also improved its tournament prediction and scoring framework, including updated formulas that place greater weight on higher-precision predictions and category-specific difficulty, to better evaluate prediction quality and create more useful performance data across sports and event categories. Gravitio continues to improve its data-gathering and market-signal infrastructure to support stronger data ingestion, better event tracking, and more consistent evaluation of prediction results.
Market and Jurisdictional Expansion
Belgravia is reviewing opportunities to introduce Gravitio across additional markets and jurisdictions as part of its broader growth plan, considering regulatory requirements, product availability, user demand, sports and financial-data access, technology infrastructure, third-party data dependencies, payment systems, app-store availability, and local compliance considerations.
CTO Commentary
Mr.Mehrdad Safarmohammadloo, Chief Technology Officer of Gravitio, commented:
“Since April, our focus has been on strengthening the technical foundation of Gravitio. We have expanded our AI-agent infrastructure, increased the number of recorded predictions, improved our data pipelines, and developed new scoring formulas to better evaluate prediction performance across different categories. The most important part of this work is the data layer behind the system — every agent prediction, user prediction, final result, and scoring event helps us understand how the platform performs and where it can improve. Gravitio is being designed as an adaptive prediction system, not a static prediction application. Our objective is to continue improving the relationship between data, AI agents, human prediction activity, and verified outcomes as we prepare the platform for broader commercial, market, and jurisdictional expansion.”
About Gravitio
Gravitio is an AI-powered prediction intelligence platform developed by Belgravia Hartford Capital Inc., designed to analyze selected markets, sports, events, and real-world outcomes through AI agents, data gathering, machine-learning systems, user predictions, scoring formulas, and performance tracking. Gravitio is publicly available through its web, iOS, and Android applications. For more information, visit https://gravitio.ai.
About Belgravia Hartford Capital Inc.
Belgravia Hartford Capital Inc. is an investment issuer focused on technology, finance, artificial intelligence, digital assets, and related investment opportunities. Listed for trading on the Canadian Securities Exchange and OTCQB, focused on the tech and finance sectors of the Bitcoin ecosystem. The Company’s focus, as set out in its 2018 Investment Policy, specifies cryptocurrencies, artificial intelligence, media and digital streaming opportunities. Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. Belgravia and its investments are considered very high-risk holdings, and it may expose shareholders to significant volatility and losses.
Forward-Looking Statements and Disclaimer
This press release contains forward-looking statements regarding Belgravia, Gravitio, the Company’s technology development strategy, AI-agent infrastructure, prediction systems, sports prediction features, World Cup 2026-related prediction activity, user growth, scoring systems, data infrastructure, third-party validation options, market and jurisdictional expansion, product development, and future commercial opportunities. Forward-looking statements are based on current expectations and are subject to risks, uncertainties, regulatory requirements, technical dependencies, product validation, market conditions, commercial execution risk, digital asset market volatility, user adoption, data availability, third-party service dependencies, app-store requirements, payment-processing requirements, and other factors that may cause actual results to differ materially.
Gravitio’s prediction outputs are probabilistic and are not guaranteed. Any references to prediction accuracy, verified predictions, agent performance, scoring systems, user counts, or internal tracking results are based on Company records and internal methodology and may change as additional data becomes available. The internal prediction-performance metrics described in this press release have not been independently validated and should not be interpreted as a guarantee of future prediction accuracy, investment performance, trading performance, betting results, user outcomes, revenue, or commercial success.
The content of this press release should not be interpreted as financial advice, investment advice, trading advice, betting and gambling advice, or a guarantee of profit, income, prediction accuracy, or future monetary return.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Belgravia Hartford Capital Inc.
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