Rogers Corporation (NYSE:ROG) today announced revised guidance for its
third quarter ending September 30, 2009. Rogers now projects third
quarter net sales to be between $74 and $77 million compared to the
August 3, 2009 guidance of $68 to $73 million. Earnings for the third
quarter are now projected to be $0.22 to $0.28 per diluted share versus
the previous guidance of $0.05 to $0.15 earnings per diluted share, both
of which include $1 million or $0.06 per share of projected one-time
integration costs associated with the silicone business assets the
Company acquired from MTI Global Inc. during the second quarter.
Robert D. Wachob, President and CEO commented, "Sales of High
Performance Foams in the cell phone and consumer electronics markets
will be higher than anticipated for the third quarter. Also during the
quarter, the Printed Circuit Materials business experienced stronger
growth in both satellite television and military applications. With
increased sales and the full effect of our cost reductions in place
Rogers is experiencing better than anticipated earnings growth for the
third quarter.”
The Company expects to report its third quarter results during the first
week of November, and plans to provide guidance for the fourth quarter
2009 at that time.
Rogers Corporation, headquartered in Rogers, CT, is a global technology
leader in the development and manufacture of high performance,
specialty-material-based products for a variety of applications in
diverse markets including: portable communications, communications
infrastructure, computer and office equipment, consumer products, ground
transportation, aerospace and defense. Rogers operates manufacturing
facilities in the United States (Arizona, Connecticut, Illinois and
Virginia), Europe (Ghent, Belgium and Bremen, Germany) and Asia (Suzhou,
China). In Asia, Rogers maintains sales offices in Japan, China, Taiwan,
Korea and Singapore. Rogers has joint ventures in Japan and China with
INOAC Corporation, in Taiwan with Chang Chun Plastics Co., Ltd. and in
the U.S. with Mitsui Chemicals, Inc.
The world runs better with Rogers.® www.rogerscorp.com
Safe Harbor Statement
Statements in this news release that are not strictly historical may be
deemed to be "forward-looking” statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on management’s current expectations and are
subject to the many uncertainties that exist in the Company’s operations
and environment. These uncertainties, which include economic conditions,
market demand and pricing, competitive and cost factors, rapid
technological change, new product introductions, legal proceedings, and
the like, are incorporated by reference from the Rogers Corporation 2008
Form 10-K filed with the Securities and Exchange Commission. Such
factors could cause actual results to differ materially from those in
the forward-looking statements. All information in this press release is
as of September 15, 2009 and Rogers undertakes no duty to update this
information unless required by law.