Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 51

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 51
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 increase in personnel costs and engineering costs. 

Other Expense, net. Other expense, net of $10.8 million for the three months ended September 30, 2025 was unfavorable by $10.8 million when compared to the nominal Other income, net for the three months ended September 30, 2024. The unfavorable movement was mainly due to an $11.7 million pension termination charge recorded, partially offset by government incentives received in 2025 related to our facility in China.

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Income taxes. Income taxes for the three months ended September 30, 2025 and 2024 were $(0.3) million and $2.7 million based on pre-tax income of $2.4 million and $10.4 million, respectively. The tax rate for the three months ended September 30, 2025 and 2024 was (11)% and 26%, respectively. The lower effective tax rates for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 was due the decrease in income before income taxes attributable to the pension termination charges recorded in the third quarter of 2025 and a discrete tax benefit recorded related to the release of amounts in OCI attributed to the pension termination.

Net income. As a result of the preceding items, net income for the three months ended September 30, 2025 was $2.6 million, compared to $7.7 million for 2024. Excluding the effect of currency translation, net income decreased $5.3 million as summarized in the following table. The decrease in net income was due to the pension termination charge recorded in the third quarter of 2025, offset by increases in operating income described above:

Three Months Ended September 30,(Thousands of dollars)20252024ChangeChange Due to Currency Translation Change Excluding Currency Translation % Change Net income (loss)PLP-USA$(1,684)$3,059 $(4,743)$— $(4,743)(155)%The Americas1,455 1,574 (119)3 (122)(8)%EMEA2,987 1,337 1,650 111 1,539 115 %Asia-Pacific(132)1,710 (1,842)143 (1,985)(116)%Consolidated$2,626 $7,680 $(5,054)$257 $(5,311)(69)%

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