Preformed Line Products(PLPC)2025-05-01 20:26Financial Performance - Net sales for Q1 2025 were $148.5 million, a 5% increase from $140.9 million in Q1 2024[3] - Net income for Q1 2025 was $11.5 million, or $2.33 per diluted share, compared to $9.6 million, or $1.94 per diluted share in Q1 2024, representing a 20% increase[4] - Gross profit margin increased to 32.8%, up 150 basis points from the same quarter in 2024[4] Business Operations - The USA communications business experienced significant sales growth, contributing to overall performance[5] - Foreign currency translation negatively impacted net sales by $4.4 million in Q1 2025[3] - The company is facing cost increases due to tariffs on key commodities, particularly steel and aluminum[5] - PLP is implementing targeted selling price increases and cost containment strategies to mitigate the impact of rising costs[5] Balance Sheet - Total assets as of March 31, 2025, were $592.5 million, an increase from $573.9 million at the end of 2024[11] - Total shareholders' equity increased to $435.8 million as of March 31, 2025, compared to $422.3 million at the end of 2024[11] Dividends - Cash dividends declared per share remained steady at $0.20 for both Q1 2025 and Q1 2024[13]