Wednesday, Polypore International, Inc. (PPO) announced that the company and the union at the Owensboro, Kentucky plant have agreed to extend the current labor contract for a period of 18 months through March 30, 2010. As a result, employees began returning to work on September 30, marking the end of a strike that began on August 6. The Charlotte, North Carolina-based company now expects that the strike's impact, which is higher in the third quarter than in the fourth quarter, would be about $0.10 to $0.12 per share in the second half of 2008 due to higher than anticipated strike-related expenses.
Further, the company expects to incur ongoing legal expenses of $0.02 to $0.03 per diluted share during the second half of the year, due to the recent administrative complaint issued by the U.S. Federal Trade Commission against Polypore in connection with its acquisition of Microporous Products L.P. in February 2008
The company did not include the one-time strike costs and the ongoing non-operational expenses in the 2008 financial guidance.
PPO closed Wednesday's regular trading session at $23.17, up $1.66 or 7.72%. However, the stock lost 55 cents in the after-hour trade.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.