Preformed Line Products (PLPC) 8-K Preformed Line Products Announces Financial Results for the Fourth Quarter and Full Year 2007

Exhibit 99.1

For immediate release
March 3, 2008 Eric R. Graef
Preformed Line Products
(440) 473-9249

PREFORMED LINE PRODUCTS ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2007

Ø Net sales increased 17% for the year 2007

Ø Earnings per diluted share increased 27% for the year 2007

Mayfield Village, Ohio, March 3, 2008 —Preformed Line Products Company (Nasdaq: PLPC)today reported financial results for the fourth quarter and the full year 2007.

Net income for the quarter ended December 31, 2007 was $1,568,000, or $.29 per diluted share, compared to $2,044,000, or $.38 per diluted share, for the comparable period in 2006. Net income for the quarter ended December 31, 2007 included non-cash, after-tax charges of $537,000 for goodwill impairment and the write off of tax loss carryforwards, both related to our Thailand operation. Net sales in the fourth quarter 2007 improved 32% to $68,224,000 compared to last year’s $51,765,000.

Net income for the year ended December 31, 2007 increased 22% to $14,766,000, or $2.72 per diluted share, compared to the prior year’s $12,103,000, or $2.14 per diluted share. Net sales for the year 2007 improved 17% to $254,607,000 compared to last year’s $216,937,000.

Currency had a favorable impact on sales for the year and fourth quarter of $10 million and $4 million, respectively. Currency favorably impacted net income for the year and quarter by $.6 million and $.3 million, respectively.

Rob Ruhlman, Chairman and Chief Executive Officer, said, “I am pleased with the growth and progress of our domestic business. Improvements in our domestic sales are allowing us to successfully leverage our expenses. Our international businesses maintained their positions after strong gains experienced in 2006. Our acquisitions were successfully integrated and provide exciting expansion of our product lines. Sales from our newly acquired companies contributed $17 million for the year and $7 million for the quarter. I see a strong future for Preformed Line Products.”

PAGE 2 / PLP ANNOUNCES FOURTH 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 four domestic manufacturing centers located in Rogers, Arkansas, Albuquerque, New Mexico, 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, Poland, 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/A filed with the SEC on January 4, 2008. The Form 10-K/A 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.

PREFORMED LINE PRODUCTS COMPANY
STATEMENTS OF CONSOLIDATED OPERATIONS
(UNAUDITED)

	Three month periods ended December 31,						Twelve month periods ended December 31,
In thousands, except per share data	2007			2006			2007			2006
Net sales	$	68,224		$	51,765		$	254,607		$	216,937
Cost of products sold		47,913			35,639			171,544			147,132
GROSS PROFIT		20,311			16,126			83,063			69,805
Costs and expenses
Selling		6,715			5,611			25,504			22,483
General and administrative		8,801			6,481			27,902			23,828
Research and engineering		2,276			1,852			8,305			7,659
Other operating expenses (income) — net		177			69			298			387
Asset impairment		199			—			199			—
		18,168			14,013			62,208			54,357
Royalty income — net		338			330			1,825			1,334
OPERATING INCOME		2,481			2,443			22,680			16,782
Other income (expense)
Interest income		297			350			1,150			1,494
Interest expense		(158	)		(165	)		(595	)		(564	)
Other expense — net		(283	)		(18	)		(305	)		(71	)
		(144	)		167			250			859
INCOME BEFORE INCOME TAXES
AND MINORITY INTERESTS		2,337			2,610			22,930			17,641
Income taxes		739			566			8,110			5,538
INCOME BEFORE MINORITY INTERESTS		1,598			2,044			14,820			12,103
Minority interests		30			—			54			—
NET INCOME	$	1,568		$	2,044		$	14,766		$	12,103
Net income per share — basic	$	0.29		$	0.38		$	2.75		$	2.16
Net income per share — diluted	$	0.29		$	0.38		$	2.72		$	2.14
Cash dividends declared per share	$	0.20		$	0.20		$	0.80		$	0.80
Weighted average number of shares outstanding — basic		5,379			5,360			5,372			5,611
Weighted average number of shares outstanding — diluted		5,430			5,405			5,422			5,660

In 2007 we adopted FASB Staff Position No. AUG AIR — 1 retrospectively. Consequently for the three month period and twelve month period ended December 31, 2006 net income increased by $12 and $43, respectively.

PREFORMED LINE PRODUCTS COMPANY
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

	December 31,			December 31,
Thousands of dollars, except share data	2007			2006
ASSETS
Cash and cash equivalents	$	23,392		$	29,949
Accounts receivable, less allowances of $1,718 ($1,209 in 2006)		40,079			30,029
Inventories — net		48,926			36,747
Deferred income taxes		3,192			1,415
Prepaids and other		4,542			2,504
TOTAL CURRENT ASSETS		120,131			100,644
Property and equipment — net		62,901			52,810
Patents and other intangibles — net		5,637			2,546
Goodwill — net		3,928			2,166
Deferred income taxes		3,685			6,258
Other assets		8,190			6,428
TOTAL ASSETS	$	204,472		$	170,852
LIABILITIES AND SHAREHOLDERS’ EQUITY
Notes payable to banks	$	4,076		$	3,738
Current portion of long-term debt		1,949			2,157
Trade accounts payable		16,083			11,606
Accrued compensation and amounts withheld from employees		7,309			5,556
Accrued expenses and other liabilities		13,866			10,022
TOTAL CURRENT LIABILITIES		43,283			33,079
Long-term debt, less current portion		3,010			2,204
Other non-current liabilities and deferred income taxes		6,947			4,421
Minority interests		904			—
SHAREHOLDERS’ EQUITY
Common shares — $2 par value, 15,000,000 shares authorized,
5,380,956 and 5,360,259 outstanding, net of
378,333 and 365,311 treasury shares at par, respectively		10,762			10,721
Paid in capital		2,720			1,562
Retained earnings		140,946			131,949
Accumulated other comprehensive loss		(4,100	)		(13,084	)
TOTAL SHAREHOLDERS’ EQUITY		150,328			131,148
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	204,472		$	170,852

In 2007 we adopted FASB Staff Position No. AUG AIR — 1 retrospectively. Consequently at December 31, 2006 retained earnings increased by $215, accrued expenses decreased by $326 and deferred income taxes decreased $111.

In 2007 we changed the classification of the portion of inventories not expected to be sold within on year to non-current and included the amount in other assets. The comparable amount at December 31, 2006 has been reclassified accordingly.