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PIP PREFORMED LINE PRODUCTS For immediate release July 29 , 2021 Andrew S. Klaus Preformed Line Products ( 440 ) 473-9246 PREFORMED LINE PRODUCTS ANNOUNCES SECOND QUARTER AND FIRST HALF 2021 FINANCIAL RESULTS Mayfield Village , Ohio , July 29 , 2021 Preformed Line Products Company ( NASDAQ : PLPC ) today reported financial results for its second quarter ended June 30 , 2021 . Net sales for the second quarter of 2021 were $ 133.0 million , an increase of 13.1 % , compared to $ 117.6 million in the second quarter of 2020. Currency translation rates had a favorable impact on 2021 second quarter net sales of $ 6.2 million , or 5.3 % . The Company posted net income for the second quarter of 2021 of $ 8.9 million , or $ 1.80 per diluted share , compared to $ 10.5 million , or $ 2.11 per diluted share , in the second quarter of 2020. Net income in the second quarter of 2021 was negatively impacted by the decrease in gross profit due to significant increases in raw material prices and transportation costs as well as losses on foreign currency transactions . The timing of announced price increases impacting future orders provided very little benefit during the second quarter of 2021. Currency translation rates had a favorable effect on net income of $ 0.3 million for the quarter ended June 30 , 2021 . Net sales increased 13.7 % to $ 250.6 million for the first six months of 2021 compared to $ 220.5 million in the first six months of 2020. Currency translation rates had a favorable impact on net sales of $ 8.0 million for the six months ended June 30 , 2021 . Net income for the six months ended June 30 , 2021 was $ 16.0 million , or $ 3.25 per diluted share , compared to $ 14.2 million , or $ 2.84 per diluted share , for the comparable period in 2020. Net income for the six months ended June 30 , 2021 benefited from the increase in margin from the higher sales base and was negatively impacted by the significant increases in raw material prices and transportation costs not yet mitigated by the announced price increase as well as losses on foreign currency transactions . Currency translation rates had a favorable effect on net income of $ 0.3 million for the six months ended June 30 , 2021 . Rob Ruhlman , Chairman and Chief Executive Officer , said , “ We continue to be pleased with our net sales growth and earnings generation for the first half of 2021. All regions reported a year over year increase in net sales for the first half of 2021 , however , our P.O. Box 91129 | Cleveland , Ohio 44101 | 440.461.5200 | www.preformed.com