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PREFORMED LINE PRODUCTS ANNOUNCES INCREASED SALES AND EARNINGS FOR FISCAL 1992

 CLEVELAND, March 17 /PRNewswire/ -- Preformed Line Products Company today reported increased sales and earnings for the year ended Dec. 31, 1992.
 Net income of the Cleveland-based supplier to the power utility and telecommunications industries totaled $7,018,000, or $2.27 per share, up 10 percent from the $6,353,000, or $2.05 per share, earned in 1991. The earnings gain was achieved on a 3 percent increase in consolidated sales, which totaled $110,714,000 versus $107,507,000 in the prior year.
 In the fourth quarter, net income of $1,177,000, or $.38 per share, was down 28 percent from the $1,633,000, or $.53 per share, recorded in the final period a year ago. The decline resulted from increased expenses and intense price competition in the company's domestic and international markets. Sales of $25,034,000 were up 2 percent from the 1991 quarter total of $24,426,000.
 Jon R. Ruhlman, president and chief executive officer, said that the company held or gained market share in all key areas of its business. However, capital spending by power and communications utility customers remained very cautious in 1992, as it was throughout the recession. He added that the improving economy and aggressive efforts by the company to expand sales should lead to continued growth of operations in 1993.
 Preformed Line Products is a leading supplier of high quality cable anchoring and control hardware and systems, overhead and underground splice cases and related products, and fiber optic splicing and communications systems. The company's shares are traded in the over- the-counter market.
 PREFORMED LINE PRODUCTS COMPANY and Subsidiaries
 Summary of Consolidated Income
 3 MONTHS
 Period ended December 31 1992 1991
 Net sales $25,033,791 $24,426,478
 Income before income taxes $ 1,340,939 $ 2,125,502
 Federal, foreign and
 state income taxes $ 163,860 $ 492,075
 Net income $ 1,177,079 $ 1,633,427
 Net income per share $ .38 $ .53
 Average shares outstanding 3,089,364 3,093,012
 12 MONTHS
 Period ended December 31 1992 1991
 Net sales $110,713,959 $107,506,806
 Income before income taxes $ 10,751,878 $ 11,201,624
 Federal, foreign and
 state income taxes $ 3,733,388 $ 4,849,084
 Net income $ 7,018,490 $ 6,352,540
 Net income per share $ 2.27 $ 2.05
 Average shares outstanding 3,089,364 3,093,012
 -0- 3/17/93
 /CONTACT: John J. Herda of Preformed Line Products Company, 216-461-5200/


CO: Preformed Line Products Company ST: Ohio IN: SU: ERN

BM -- CL007 -- 7012 03/17/93 11:54 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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