PLPC Q4 2021 net sales $131.4M (+10.9% YoY); diluted EPS $1.79 vs $0.53

PREFORMED LINE PRODUCTS CO

Full-year 2021 net sales $517.4M (third consecutive record), up 10.9% YoY; net income $35.7M ($7.19 EPS) vs $29.8M ($5.98) in 2020.
Domestic net sales rose 28% YoY; EMEA growth offset shortfalls in Americas and Asia-Pacific regions.
Credit facility increased from $65M to $90M; maturity extended to March 2026; interest rate index switched from LIBOR to BSBY.
Management expects COVID-19 and inflation to challenge business into 2022; further price increases may be needed.
Fourth quarter net income benefited from higher gross profit on incremental sales and price increases offsetting raw material and transport cost inflation.

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