Company: PLPC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000080035-25-000013
Chunk: 15

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 million ($1.5 million) in 2026, PLN9.0 million ($2.5 million) in 2027, PLN9.6 million ($2.6 million) in 2028 through 2034, and PLN18.8 million ($5.2 million) in 2035. The loan will bear interest at the one month Warsaw Interbank Offered Rate ("WIBOR") plus 1.0% unless the Company does not meet the covenants as set forth in the Facility with PNC, at which point the WIBOR spread becomes 1.5%. The current manufacturing plant owned by PLP Poland, the plant under construction and all fixed assets within the plants are pledged as collateral against the loan. The loan also is guaranteed by the Company.

NOTE 9 - INCOME TAXES

For the three-month period ended June 30, 2025 and 2024, the Company’s effective tax rate was 27% and 16%, respectively. For the six-month period ended June 30, 2025 and 2024, the Company’s effective tax rate was 22% and 18%, respectively. The higher effective tax rates for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024 were due to the unfavorable impact from certain adjustments including nondeductible compensation and non-recurring rate benefits received in 2024 from amending prior year returns, partially offset by a favorable impact from the mix of earned income in certain foreign jurisdictions.

The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. During the period ended June 30, 2025, the Company did not record any additional valuation allowances in various jurisdictions on its deferred tax assets.For the six-month periods ending June 30, 2025 and 2024, the Company did not record any new uncertain tax positions.

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NOTE 10 - COMPUTATION OF EARNINGS PER SHAREBasic earnings per share were computed by dividing net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing net income by the weighted-average of all potentially dilutive common shares that were outstanding during the periods presented.The calculation of basic and diluted earnings per share for the three and six months ended June 30, was as follows:Three Months Ended June 30