8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):  August 4, 2010

POLYPORE INTERNATIONAL, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-32266	43-2049334
(Commission File Number)	(IRS Employer Identification No.)

11430 North Community House Road, Suite 350, Charlotte, North Carolina	28277
(Address of Principal Executive Offices)	(Zip Code)

(704) 587-8409

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.        Results of Operations and Financial Condition.

On August 4, 2010, Polypore International, Inc. (“Polypore”) posted to the Investor Relations area of Polypore’s website at http://investor.polypore.net/ a slide presentation of supplemental financial information regarding its second quarter ended July 3, 2010.  A copy of the slide presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01.        Financial Statements and Exhibits.

(d)             Exhibits.

Exhibit No.	Description
99.1	Slide Presentation of Second Quarter 2010 Supplemental Financial Information of Polypore International, Inc.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	POLYPORE INTERNATIONAL, INC.
	(Registrant)
Date: August 4, 2010	By:	/s/ Lynn Amos
		Lynn Amos
		Chief Financial Officer

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EX-99.1

Exhibit 99.1

 (NYSE Listed: PPO) Second Quarter 2010 Supplemental Financial Information

These materials include "forward-looking statements". All statements other than statements of historical facts included in these materials that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about Polypore International's plans, objectives, strategies and prospects regarding, among other things, the financial condition, results of operations and business of Polypore International and its subsidiaries. We have identified some of these forward-looking statements with words like "believe," "may," "will," "should," "expect," "intend," "plan," "predict," "anticipate," "estimate" or "continue" and other words and terms of similar meaning. These forward-looking statements are based on current expectations about future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Many factors mentioned in our discussion in these materials will be important in determining future results. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties, including with respect to Polypore International, the following, among other things: the highly competitive nature of the markets in which we sell our products; the failure to continue to develop innovative products; the loss of our customers; the vertical integration by our customers of the production of our products into their own manufacturing process; increases in prices for raw materials or the loss of key supplier contracts; our substantial indebtedness; interest rate risk related to our variable rate indebtedness; our inability to generate cash; restrictions related to the senior secured credit facility; employee slowdowns, strikes or similar actions; product liability claims exposure; risks in connection with our operations outside the United States; the incurrence of substantial costs to comply with, or as a result of violations of, or liabilities under environmental laws; the failure to protect our intellectual property; the loss of senior management; the incurrence of additional debt, contingent liabilities and expenses in connection with future acquisitions; the failure to effectively integrate newly acquired operations; the adverse impact on our financial condition of restructuring activities; the absence of expected returns from the amount of intangible assets we have recorded; the adverse impact from legal proceedings on our financial condition; natural disasters, epidemics, terrorist acts and other events beyond our control; and economic uncertainty and the current crisis in global credit and financial markets. Because our actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements, we cannot give any assurance that any of the events anticipated by the forward-looking statements will occur or, if any of them do, what impact they will have on Polypore International's results of operations and financial condition. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of these materials. We do not undertake any obligation to update these forward-looking statements in these materials to reflect new information, future events or otherwise, except as may be required under federal securities laws. Safe Harbor Statement

Second Quarter Results* * The adjusted results on this page represent non-GAAP financial information. Refer to Exhibits A, C and E for reconciliation from GAAP results to adjusted results. (unaudited) Three Months Ended (in millions, except net income per share) Adjusted Adjusted July 3, 2010 July 4, 2009 Net sales $150.1 $118.2 Cost of goods sold 89.0 71.6 Gross profit 61.1 46.6 Gross profit margin 40.7% 39.4% Selling, general and administrative expenses 28.4 23.6 Operating income 32.7 23.0 Operating income margin 21.8% 19.5% Other (income) expense: Interest expense, net 11.0 14.6 Foreign currency and other (0.3) 1.3 10.7 15.9 Income before income taxes 22.0 7.1 Income taxes 6.8 1.9 Net income $15.2 $5.2 Net income per share - diluted $0.33 $0.12 Weighted average shares outstanding - diluted 46.2 44.6

Second Quarter Year to Date Results* * The adjusted results on this page represent non-GAAP financial information. Refer to Exhibits B, D and E for reconciliation from GAAP results to adjusted results. (unaudited) Six Months Ended (in millions, except net income per share) Adjusted Adjusted July 3, 2010 July 4, 2009 Net sales $295.5 $227.1 Cost of goods sold 176.0 137.1 Gross profit 119.5 90.0 Gross profit margin 40.4% 39.6% Selling, general and administrative expenses 55.5 48.0 Operating income 64.0 42.0 Operating income margin 21.7% 18.5% Other (income) expense: Interest expense, net 23.3 28.8 Foreign currency and other (0.8) 0.7 22.5 29.5 Income before income taxes 41.5 12.5 Income taxes 12.2 3.3 Net income 29.3 9.2 Net income per share - diluted $0.64 $0.21 Weighted average shares outstanding - diluted 46.0 44.5

Segment Results* * See Exhibit F for a reconciliation of Segment Operating Income to Income Before Income Taxes. (unaudited, in millions) Three Months Ended Six Months Ended Sales July 3, 2010 July 4, 2009 Change July 3, 2010 July 4, 2009 Change Energy storage Lead acid battery separators $74.9 $61.6 21.6% $145.9 $118.0 23.6% Lithium battery separators 32.6 20.7 57.5% 63.0 38.0 65.8% Total 107.5 82.3 30.6% 208.9 156.0 33.9% Separations media Healthcare 25.5 24.8 2.8% 54.5 49.8 9.4% Filtration and specialty 17.1 11.1 54.1% 32.1 21.3 50.7% Total 42.6 35.9 18.7% 86.6 71.1 21.8% Total $150.1 $118.2 27.0% $295.5 $227.1 30.1% Gross Profit Energy storage - $ $40.6 $29.8 36.2% $78.2 $55.8 40.1% % sales 37.8% 36.2% 37.4% 35.8% Separations media - $ 20.5 16.8 22.0% 41.3 34.2 20.8% % sales 48.1% 46.8% 47.7% 48.1% Gross profit $61.1 $46.6 31.1% $119.5 $90.0 32.8% Gross profit % 40.7% 39.4% 40.4% 39.6% Segment Operating Income* Energy storage - $ $21.2 $13.5 57.0% $40.6 $22.8 78.1% % sales 19.7% 16.4% 19.4% 14.6% Separations media - $ 12.0 9.9 21.2% 24.5 19.9 23.1% % sales 28.2% 27.6% 28.3% 28.0% Corporate - $ (0.5) (0.4) (1.1) (0.7)% sales - 0.3% -0.3% -0.4% -0.3% Segment operating income $32.7 $23.0 42.2% $64.0 $42.0 52.4% Segment operating income % 21.8% 19.5% 21.7% 18.5%

EXHIBITS

Exhibit A Second Quarter 2010 Results Please see Exhibit E for description of adjustments. (unaudited) Three Months Ended July 3, 2010 (in millions, except net income per share) As Reported Adjustments As Adjusted Net sales $150.1 $- $150.1 Cost of goods sold 89.0 - 89.0 Gross profit 61.1 - 61.1 Selling, general and administrative expenses 28.7 0.3 a 28.4 Business restructuring (1.3) (1.3) - Operating income 33.7 1.0 32.7 Other (income) expense: Interest expense, net 11.0 - 11.0 Foreign currency and other (0.3) - (0.3) 10.7 - 10.7 Income before income taxes 23.0 1.0 22.0 Income taxes 7.1 0.3 b 6.8 Net income $15.9 $0.7 $15.2 Net income per share - diluted $0.34 $0.01 $0.33 Weighted average shares outstanding - diluted 46.2 46.2

Exhibit B Second Quarter YTD 2010 Results Please see Exhibit E for description of adjustments. (unaudited) Six Months Ended July 3, 2010 (in millions, except net income per share) As Reported Adjustments As Adjusted Net sales $295.5 $- $295.5 Cost of goods sold 176.0 - 176.0 Gross profit 119.5 - 119.5 Selling, general and administrative expenses 56.0 0.5 a 55.5 Business restructuring (0.9) (0.9) - Operating income 64.4 0.4 64.0 Other (income) expense: Interest expense, net 23.3 - 23.3 Gain on sale of Italian subsidiary (3.3) (3.3) - Foreign currency and other (0.8) - (0.8) 19.2 (3.3) 22.5 Income before income taxes 45.2 3.7 41.5 Income taxes 11.7 (0.5) b 12.2 Net income $33.5 $4.2 $29.3 Net income per share - diluted $0.73 $0.09 $0.64 Weighted average shares outstanding - diluted 46.0 46.0

Exhibit C Second Quarter 2009 Results Please see Exhibit E for description of adjustments. (unaudited) Three Months Ended July 4, 2009 (in millions, except net income per share) As Reported Adjustments As Adjusted Net sales $118.2 $- $118.2 Cost of goods sold 71.6 - 71.6 Gross profit 46.6 - 46.6 Selling, general and administrative expenses 25.1 1.5 a 23.6 Business restructuring - - - Operating income 21.5 (1.5) 23.0 Other (income) expense: Interest expense, net 14.6 - 14.6 Foreign currency and other 1.3 - 1.3 15.9 - 15.9 Income before income taxes 5.6 (1.5) 7.1 Income taxes 1.4 (0.5) b 1.9 Net income $4.2 $(1.0) $5.2 Net income per share - diluted $0.09 $(0.03) $0.12 Weighted average shares outstanding - diluted 44.6 44.6

Exhibit D Second Quarter YTD 2009 Results Please see Exhibit E for description of adjustments. (unaudited) Six Months Ended July 4, 2009 (in millions, except net income per share) As Reported Adjustments As Adjusted Net sales $227.1 $- $227.1 Cost of goods sold 137.1 - 137.1 Gross profit 90.0 - 90.0 Selling, general and administrative expenses 50.3 2.3 a 48.0 Business restructuring 0.6 0.6 - Operating income 39.1 (2.9) 42.0 Other (income) expense: Interest expense, net 28.8 - 28.8 Foreign currency and other 0.7 - 0.7 29.5 - 29.5 Income before income taxes 9.6 (2.9) 12.5 Income taxes 2.4 (0.9) b 3.3 Net income $7.2 $(2.0) $9.2 Net income per share - diluted $0.16 $(0.05) $0.21 Weighted average shares outstanding - diluted 44.5 44.5

Exhibit E Description of adjustments a FTC-related costs incurred due to the ongoing litigation concerning the acquisition of Microporous. b Impact of adjustments on provision for income taxes.

Exhibit F Reconciliation of Segment Operating Income Reconciliation of Segment Operating Income to Income Before Income Taxes (unaudited, in millions) Three Months Ended Six Months Ended July 3, 2010 July 4, 2009 July 3, 2010 July 4, 2009 Operating income: Energy storage $21.2 $13.5 $40.6 $22.8 Separations media 12.0 9.9 24.5 19.9 Corporate (0.5) (0.4) (1.1) (0.7) Total segment operating income 32.7 23.0 64.0 42.0 Business restructuring (1.3) - (0.9) 0.6 Non-recurring costs 0.3 1.5 0.5 2.3 Total operating income 33.7 21.5 64.4 39.1 Reconciling items: Interest expense 11.0 14.6 23.3 28.8 Gain on sale of Italian subsidiary - - (3.3) - Foreign currency and other (0.3) 1.3 (0.8) 0.7 Income before income taxes $23.0 $5.6 $45.2 $9.6