Preformed Line Products (PLPC) 8-K Preformed Line Products Announces Financial Results for the Second Quarter and First Six Months of 2006

Exhibit 99.1

For immediate release
July 27, 2006 Eric R. Graef
Preformed Line Products
(440) 473-9249

PREFORMED LINE PRODUCTS ANNOUNCES FINANCIAL RESULTS FOR THE
SECOND QUARTER AND FIRST SIX MONTHS OF 2006

Mayfield Village, Ohio, July 27, 2006 –Preformed Line Products Company (Nasdaq: PLPC)today reported financial results for the second quarter and the first six months of 2006.

Net income for the quarter ended June 30, 2006 was $3,545,000, or $.61 per diluted share, compared to $3,696,000, or $.64 per diluted share, for the comparable period in 2005. Net sales in the second quarter 2006 were $56,098,000, an increase of 6% from last year’s $52,692,000.

Net income for the six months ended June 30, 2006 was $6,029,000, or $1.04 per diluted share, compared to the prior year’s $6,924,000, or $1.20 per diluted share. Net sales increased 5% to $108,733,000 for the first six months of 2006 compared to $103,464,000 in 2005.

Rob Ruhlman, Chairman and Chief Executive Officer, said, “Sales improved for the quarter by 5% and for the first six months by 4%, excluding the favorable impact of currency. These sales increases were driven by our foreign operations. Our domestic sales in the first half were lower than last year due to an exceptionally strong first quarter in 2005. Our costs and expenses continue at a higher rate due to rising raw material costs, the cost of energy, higher product testing costs, compliance costs, and our continued investment in our employees.

Sales were more than 6% higher than the previous quarter while our costs and expenses remained relatively flat. Our domestic sales improved 2% over the first quarter due to continued strong sales in the energy market and improvement in fiber-to-the-premise sales.

We expect to recover a portion of the rising costs through price increases effective in the third quarter. Our progress on a new production process and alternative raw materials continues to move forward, although we do not expect to fully benefit from these improvements until next year.”

PAGE 2 / PLP ANNOUNCES SECOND QUARTER RESULTS

Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.

Preformed’s world headquarters are in Cleveland, Ohio, and the Company operates three domestic manufacturing centers located in Rogers, Arkansas, Albemarle, North Carolina, and Asheville, North Carolina. The Company serves its worldwide market through international operations in Australia, Brazil, Canada, China, England, Mexico, New Zealand, South Africa, Spain and Thailand.

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 strength of the economy and demand for the Company’s products, increases in raw material prices, the Company’s ability to identify, complete and integrate acquisitions for profitable growth, and other factors described under the heading “Forward-Looking Statements” in the Company’s Form 10-K filed with the SEC on March 15, 2006. The Form 10-K and the Company’s other filings with the SEC can be found on the SEC’s website athttp://www.sec.gov. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

PREFORMED LINE PRODUCTS COMPANY
STATEMENTS OF CONSOLIDATED INCOME
(Unaudited)

	Three month periods						Six month periods
In thousands, except per share data	ended June 30,						ended June 30,
	2006			2005			2006			2005
Net sales	$	56,098		$	52,692		$	108,733		$	103,464
Cost of products sold		37,652			35,275			73,816			69,420
GROSS PROFIT		18,446			17,417			34,917			34,044
Costs and expenses
Selling		5,630			5,519			11,397			10,574
General and administrative		5,880			5,552			11,698			10,479
Research and engineering		2,006			1,527			3,879			3,070
Other operating expenses (income) — net		121			(185	)		182			(70	)
		13,637			12,413			27,156			24,053
Royalty income — net		371			345			717			537
OPERATING INCOME		5,180			5,349			8,478			10,528
Other income (expense)
Interest income		353			241			755			454
Interest expense		(133	)		(86	)		(235	)		(180	)
Other expense — net		(15	)		(27	)		(34	)		(54	)
		205			128			486			220
INCOME BEFORE INCOME TAXES		5,385			5,477			8,964			10,748
Income taxes		1,840			1,781			2,935			3,824
NET INCOME	$	3,545		$	3,696		$	6,029		$	6,924
Net income per share — basic	$	0.62		$	0.65		$	1.05		$	1.21
Net income per share — diluted	$	0.61		$	0.64		$	1.04		$	1.20
Cash dividends declared per share	$	0.20		$	0.20		$	0.40		$	0.40
Average number of shares outstanding — basic		5,720			5,726			5,725			5,723
Average number of shares outstanding — diluted		5,766			5,784			5,776			5,778

PREFORMED LINE PRODUCTS COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)

	June 30,			December 31,
Thousands of dollars, except share data	2006			2005
ASSETS
Cash and cash equivalents	$	34,424		$	39,592
Accounts receivable, less allowances of $942 ($789 in 2005)		34,975			26,481
Inventories-net		38,655			37,618
Deferred income taxes		3,912			3,870
Prepaids and other		3,094			2,832
TOTAL CURRENT ASSETS		115,060			110,393
Property and equipment — net		52,432			48,804
Deferred income taxes		2,460			2,060
Goodwill — net		2,027			2,018
Patents and other intangibles — net		2,709			2,871
Other assets		2,453			2,401
TOTAL ASSETS	$	177,141		$	168,547
LIABILITIES AND SHAREHOLDERS’ EQUITY
Notes payable to banks	$	2,714		$	1,156
Current portion of long-term debt		3,320			4,806
Trade accounts payable		13,416			10,878
Accrued compensation and amounts withheld from employees		6,036			5,161
Accrued expenses and other liabilities		5,243			6,406
Accrued profit-sharing and pension contributions		3,704			4,290
Dividends payable		1,145			1,147
Income taxes		1,226			881
Deferred income taxes		12			—
TOTAL CURRENT LIABILITIES		36,816			34,725
Long-term debt, less current portion		1,925			122
Deferred income taxes		390			157
SHAREHOLDERS’ EQUITY
Common shares — $2 par value, 15,000,000 shares authorized, 5,724,570 and 5,734,797 outstanding, net of 0 and 511,159 treasury shares at par, respectively		11,449			11,470
Paid in capital		1,448			1,237
Retained earnings		138,617			135,481
Accumulated other comprehensive loss		(13,504	)		(14,645	)
TOTAL SHAREHOLDERS’ EQUITY		138,010			133,543
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	177,141		$	168,547