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ROGERS CORPORATION REPORTS HIGHER EARNINGS FOR QUARTER; FIRST NINE MONTHS' PROFITS ARE BEST SINCE 1984

 ROGERS, Conn., Oct. 18 /PRNewswire/ -- Rogers Corporation (AMEX: ROG) today reports third quarter net income of $1.7 million, or 53 cents per share, on sales of $30.3 million. With only a small tax provision, net income was about the same as income before taxes. Third quarter sales include, for the first time, sales of materials to ADFlex Solutions , Inc., the newly-formed company which purchased the flexible interconnections business from Rogers.
 Pre-tax earnings for the first nine months of 1993 were the best for Rogers since 1984. Net income for the nine-month period grew from $64 thousand in 1992 (before the cumulative effect of the change in accounting for postretirement benefits -- F.A.S. 106) to $5.0 million, or $1.57 per share in 1993, again after only a small tax charge. Income for the first three quarters of 1993 is on sales of $94.0 million, down from the same nine-month period last year, mainly because of the flexible interconnections business divestiture.
 Rogers continues to reduce its level of borrowing. At the end of September, total debt was $19.3 million, down $20.0 million since the end of 1991.
 Harry Birkenruth, president and chief executive officer of Rogers Corporation, said, "This solid performance continues to demonstrate that we are building a strong foundation for Rogers, based on our core business in specialty polymer composite materials."
 Rogers Corporation manufactures polymer composite materials and components, which it markets around the world. Rogers is a recognized leader in high performance elastomer materials and components for office equipment and other applications, in circuit materials for high frequency and computer applications, in moldable composite materials for automotive and electrical applications, and in power distribution products for computer and communications equipment.
 ROGERS CORPORATION
 Financial Results
 (Dollars in Thousands,
 except Per Share Amounts)
 Quarters Ended: Nine Months Ended:
 10/03/93 9/27/92 10/03/93 9/27/92
 Sales $30,312 $43,389 $94,030 $125,514
 Income (Loss)
 Bef. Cumulative
 Effect of
 Accounting
 Change 1,712 (148) 4,965 64
 Cumulative Effect
 of Change in
 Accounting for
 Postretirement
 Benefits --- --- --- (6,241)
 Net Inc. (Loss) 1,712 (148) 4,965 (6,177)
 Primary:
 Income (Loss) Per
 Share Bef.
 Cumulative Effect
 of Accounting
 Change 0.53 (.05) 1.57 .02
 (Loss) Per Share
 of Cumulative
 Effect of Acct.
 Change --- --- --- (2.02)
 Net Inc. (Loss)
 Per Share .53 (.05) 1.57 (2.00)
 Fully Diluted:
 Inc. (Loss) Per
 Share Bef. Cumulative
 Effect of Acct.
 Change .53 (.05) 1.54 .02
 (Loss) Per Share
 of Cumulative Effect
 of Acct. Change --- --- --- (2.01)
 Net Inc. (Loss)
 Per Share .53 (.05) 1.54 (1.99)
 Shares Outstanding:
 Weighted Avg. 3,114,355 3,095,213 3,110,965 3,092,773
 Primary 3,210,166 3,099,819 3,154,951 3,097,415
 Fully Diluted 3,236,623 3,099,819 3,233,233 3,097,437
 -0- 10/18/93
 /CONTACT: Robert White or Karen Krider of Rogers Corp., 203-774-9605/
 (ROG)


CO: Rogers Corporation ST: Connecticut IN: CPR SU: ERN

CM-JL -- NE018 -- 3374 10/18/93 11:58 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
Words:515
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