PLPC Preformed Line Products Co.
Preformed Line Products Co. designs, manufactures, and supplies cable anchoring and control hardware and systems, fiber optic and copper splice closures, and cross-connect devices. It operates through the following geographical segments: PLP-USA, Americas, EMEA, and Asia-Pacific. The PLP-USA segment involves in manufacturing traditional products primarily supporting domestic energy, telecommunications, and solar products. The Americas, EMEA, and Asia-Pacific segments focuses on supporting energy, telecommunications, data communication, and solar products in each respective geographical region. The company was founded by Thomas F. Peterson in 1947 and is headquartered in Cleveland, OH.
Company profile
Ticker
PLPC
Exchange
Website
CEO
Robert G. Ruhlman
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Primoris Services • MasTec • MYR • Energy Services of America • Goldfield • Aegion • Dycom Industries ...
SEC CIK
Corporate docs
IRS number
340676895
PLPC stock data
()
Calendar
1 May 20
12 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 102.85M | 113.65M | 119.22M | 114.84M | |
| Net income | 3.65M | 5.6M | 8.04M | 7.87M | |
| Diluted EPS | 0.74 | 1.09 | 1.55 | 1.56 | |
| Net profit margin | 3.55% | 4.93% | 6.75% | 6.85% | |
| Operating income | 5.15M | 7.82M | 11.64M | 11.12M | |
| Net change in cash | -4.81M | -2.23M | -102K | -2.2M | |
| Cash on hand | 34.12M | 38.93M | 41.16M | 41.26M | |
| Cost of revenue | 69.94M | 77.47M | 79.87M | 77.04M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 444.86M | 420.88M | 378.21M | 336.63M | |
| Net income | 23.34M | 26.58M | 12.65M | 15.26M | |
| Diluted EPS | 4.58 | 5.21 | 2.47 | 2.95 | |
| Net profit margin | 5.25% | 6.32% | 3.35% | 4.53% | |
| Operating income | 32.63M | 32.93M | 26.11M | 21.48M | |
| Net change in cash | -4.68M | -749K | 13.62M | 344K | |
| Cash on hand | 38.93M | 43.61M | 44.36M | 30.74M | |
| Cost of revenue | 304.27M | 288.65M | 259.58M | 227.22M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 25 Jun 20 | Gibbons Michael E | Common shares, $2 par value | Grant | Aquire A | No | 49.69 | 377 | 18.73K | 10,386 |
| 25 Jun 20 | Kestner R. Steven | Common shares, $2 par value | Grant | Aquire A | No | 49.69 | 226 | 11.23K | 649 |
| 7 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 47.84 | 764 | 36.55K | 4,000 |
| 7 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 46.75 | 27 | 1.26K | 3,263 |
| 7 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 47.88 | 737 | 35.29K | 4,000 |
| 6 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 47.72 | 3,000 | 143.16K | 3,236 |
| 6 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 48.09 | 1,000 | 48.09K | 3,236 |
| 6 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 50.1 | 150 | 7.52K | 2,236 |
| 6 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 47.33 | 1,850 | 87.56K | 2,086 |
| 5 May 20 | Andrew S Klaus | Common shares, $2 par value | Buy | Aquire P | No | 51.15 | 236 | 12.07K | 236 |
Institutional ownership Q1 2020
49.0% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 66 |
| Opened positions | 5 |
| Closed positions | 10 |
| Increased positions | 25 |
| Reduced positions | 20 |
13F shares |
Current |
|---|---|
| Total value | 169.66M |
| Total shares | 2.45M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| Keybank National Association | 400.45K | $19.96M |
| Dimensional Fund Advisors | 354K | $17.64M |
| Royce & Associates | 336.04K | $16.75M |
| BLK BlackRock | 189K | $9.42M |
| HighTower Advisors | 158.92K | $7.92M |
| Vanguard | 144.17K | $7.18M |
| Dalton Greiner Hartman Maher & Co | 87.44K | $4.36M |
| Renaissance Technologies | 80.5K | $4.01M |
| LSV Asset Management | 75.7K | $3.77M |
| THB Asset Management | 63.89K | $3.18M |
Financial report summary
?Risks
- Due to the Company’s dependency on the energy and telecommunication industries, the Company is susceptible to negative trends relating to those industries that could adversely affect the Company’s operating results.
- The Company’s business will suffer if the Company fails to develop and successfully introduce new and enhanced products that meet the changing needs of the Company’s customers.
- The intense competition in the Company’s markets, particularly telecommunication, may lead to a reduction in sales and earnings.
- Competitors’ introduction of products embodying new technologies or the emergence of new industry standards can render existing products or products under development obsolete or unmarketable and result in lost sales.
- Price increases or decreased or delayed availability of raw materials could result in lower earnings.
- The Company’s international operations subject the Company to additional business risks that may have a material adverse effect on the Company’s business, operating results and financial condition.
- The Company may not be able to successfully integrate businesses that it may acquire in the future or complete acquisitions on satisfactory terms, which could have a material adverse effect on the Company’s business, operating results and financial condition.
- The Company may have interruptions in or lose business due to the uncertainty of the global economy, specifically related to the lack of available funding for the Company’s customers.
- The Company may be adversely impacted by laws, regulation, and litigation.
- The Company may not be able to successfully manage its intellectual property and may be subject to infringement claims.
- Tax matters, including changes in tax rates, disagreements with taxing authorities and imposition of new taxes could impact the Company’s operating results and financial condition.
- The Company employs information technology systems to support its business, and any material breach, interruption or failure may adversely impact the Company’s business.
Management Discussion
- Net sales. Net sales were $102.9 million for the three months ended March 31, 2020, an increase of $5.7 million, or 6%, from the three months ended March 31, 2019. Excluding the unfavorable effect of currency translation, net sales for the three months ended March 31, 2020 increased $9.8 million compared to the same period in 2019, or 10%, as summarized in the following table:
- Gross profit. Gross profit was $32.9 million and $27.3 million for the three-month periods ended March 31, 2020 and 2019, respectively. Excluding the unfavorable effect of currency translation, gross profit increased $6.9 million, or 25%, as summarized in the following table:
- Costs and expenses. Costs and expenses of $27.8 million for the three months ended March 31, 2020 increased $2.5 million, or 10%. Excluding the favorable effect of currency translation, costs and expenses increased $3.5 million, or 14%, as summarized in the following table:
Content analysis
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| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
H.S. sophomore Avg
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New words:
add, air, American, chain, contingent, diplomatic, disrupted, disruption, distancing, duration, earliest, effort, entered, entertainment, essential, evolve, exacerbate, flexibility, gain, governmental, ground, health, hedging, home, II, impose, inability, instability, internationally, job, lost, magnitude, mandatory, month, outbreak, pandemic, part, pay, produce, quantified, rapidly, reliably, safety, scaling, scope, shelter, stay, strain, strong, temporarily, terrorism, transportation, unknown, unrest, viral
Removed:
accommodate, application, applied, arranging, bad, classification, COLI, commencing, comparative, decline, detail, direct, evaluating, exclude, expedient, finalized, fully, guidance, hindsight, identification, invested, key, leasing, lessee, listed, mitigate, modified, negotiating, OCI, opening, order, package, personnel, policy, practical, preliminary, presentation, professional, qualitative, quantitative, Reclassification, reclassify, removed, restate, retained, retrospective, retrospectively, separate, short, software, standard, stranded, Subsequent, surrender, timing, training, transition, transitional
Financial reports
10-Q
2020 Q1
Quarterly report
1 May 20
10-K
2019 FY
Annual report
6 Mar 20
10-Q
2019 Q3
Quarterly report
1 Nov 19
10-Q
2019 Q2
Quarterly report
2 Aug 19
10-Q
2019 Q1
Quarterly report
3 May 19
10-K
2018 FY
Annual report
8 Mar 19
10-Q
2018 Q3
Quarterly report
8 Nov 18
10-Q
2018 Q2
Quarterly report
3 Aug 18
10-Q
2018 Q1
Quarterly report
4 May 18
10-K
2017 FY
Annual report
9 Mar 18
Current reports
8-K
Submission of Matters to a Vote of Security Holders
7 May 20
8-K
Results of Operations and Financial Condition
1 May 20
8-K
Departure of Directors or Certain Officers
13 Apr 20
8-K
Preformed Line Products Announces Change of Location of 2020
13 Apr 20
8-K
Other Events
20 Mar 20
8-K
Preformed Line Products Announces Results For The Fourth Quarter And Full Year 2019
6 Mar 20
8-K
Preformed Line Products Announces Third Quarter And First Nine Months Of 2019 Results
1 Nov 19
8-K
Preformed Line Products Announces Second Quarter And First Half 2019 Results
2 Aug 19
8-K
Submission of Matters to a Vote of Security Holders
7 May 19
8-K
Results of Operations and Financial Condition
3 May 19
Registration and prospectus
S-8
Registration of securities for employees
4 Nov 16
S-8
Registration of securities for employees
6 May 11
S-8
Registration of securities for employees
29 Aug 08
S-8
Registration of securities for employees
19 Nov 01
S-8
Registration of securities for employees
19 Nov 01
10-12G
Registration of securities
30 Apr 01
Proxies
DEFA14A
Additional proxy soliciting materials
13 Apr 20
DEF 14A
Definitive proxy
26 Mar 20
DEF 14A
Definitive proxy
29 Mar 19
DEF 14A
Definitive proxy
16 Mar 18
DEF 14A
Definitive proxy
17 Mar 17
DEF 14A
Definitive proxy
17 Mar 16
PRE 14A
Preliminary proxy
7 Mar 16
DEF 14A
Definitive proxy
12 Mar 15
DEF 14A
Definitive proxy
14 Mar 14
DEF 14A
Definitive proxy
15 Mar 13
Other
SD
Conflict minerals disclosure
27 May 20
SD
Conflict minerals disclosure
20 May 19
SD
Conflict minerals disclosure
25 May 18
SD
Conflict minerals disclosure
2 Jun 17
SD
Conflict minerals disclosure
26 May 16
SD
Conflict minerals disclosure
1 Jun 15
SD
Conflict minerals disclosure
2 Jun 14
UPLOAD
Letter from SEC
14 Aug 13
CORRESP
Correspondence with SEC
13 Aug 13
UPLOAD
Letter from SEC
24 Jul 13
Ownership
4
PREFORMED LINE PRODUCTS / R. Steven Kestner ownership change
25 Jun 20
4
PREFORMED LINE PRODUCTS / MICHAEL E GIBBONS ownership change
25 Jun 20
4/A
PREFORMED LINE PRODUCTS / Andrew S Klaus ownership change
12 May 20
4
PREFORMED LINE PRODUCTS / Andrew S Klaus ownership change
7 May 20
3
PREFORMED LINE PRODUCTS / Andrew S Klaus ownership change
21 Apr 20
4
PREFORMED LINE PRODUCTS / MICHAEL E GIBBONS ownership change
21 Apr 20
4
PREFORMED LINE PRODUCTS / R. Steven Kestner ownership change
27 Mar 20
4
PREFORMED LINE PRODUCTS / MICHAEL E GIBBONS ownership change
27 Mar 20
4
PREFORMED LINE PRODUCTS / ROBERT G RUHLMAN ownership change
11 Mar 20
SC 13G/A
Preformed Line Products Co
12 Feb 20
Patents
APP
Utility
Line Bypass System
9 Jul 20
A line bypass system includes a support structure including a first support portion and a second support portion spaced apart from the first support portion.
APP
Utility
Retrofit Cover for Fiber Optic Cable Connection
9 Jul 20
A cover for a fiber optic cable connection includes a cap portion having a first housing portion having a first housing wall, a second housing portion having a second housing wall, and a coupler portion that couples the first housing portion and the second housing portion in a closed position.
APP
Utility
Line Bypass System
25 Jun 20
A line bypass system includes a support structure including a first support portion and a second support portion spaced apart from the first support portion.
APP
Utility
Support Structure for Supporting a Wire
9 Apr 20
A support device for supporting a wire includes a first support portion.
GRANT
Utility
Retrofit cover for fiber optic cable connection
17 Mar 20
A cover for a fiber optic cable connection includes a cap portion having a first housing portion having a first housing wall, a second housing portion having a second housing wall, and a coupler portion that couples the first housing portion and the second housing portion in a closed position.