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ROGERS CORPORATION REPORTS HIGHEST EARNINGS FOR FIRST HALF SINCE 1984

 ROGERS, Conn., July 20 /PRNewswire/ -- Rogers Corporation (AMEX: ROG) reports net income of $1,612,000 or 51 cents per share, for the second quarter. With only a small tax provision, income before taxes was about the same as net income. In the first quarter of 1993, the company's net income was $1,641,000, or 53 cents per share. This brings the total for the first six months of 1993 to $3,253,000 or $1.04 per share.
 The previously announced sale of the Flexible Interconnections Division (FID) and the company's 50 percent interest in a related joint venture, Smartflex Systems, was completed on June 28. The company will receive a total of approximately $11 million from this sale, $7.6 million of which was received in June. These funds will be used to reduce debt and for other general corporate purposes.
 In the first six months of the year, short and long-term debt was reduced by $12.1 million, and will be further reduced with the proceeds of the FID sale.
 Volume for continuing product lines was up 12 percent in the first six months of 1993, over the comparable 1992 period. Plant expansions are underway at the Poron Materials Division facility, in East Woodstock, Conn., and at the Willimantic Division in South Windham, Conn.
 Rogers two 50 percent owned joint ventures are also growing. In Japan, Rogers Inoac Corporation, Rogers joint venture with Inoac Corporation, is putting another production line in place to meet the growing demand in Asia for Poron(R) materials. In Arizona, Durel Corporation, Rogers joint venture with 3M, is expanding its capacity to meet the rapidly increasing demand for its electroluminescent lamps.
 Harry Birkenruth, president and chief executive officer of Rogers Corporation, said, "Rogers is financially much stronger and can now build its future solidly on its capabilities in specialty polymer composite materials." He also said, "The third quarter of the year is usually affected by lower sales in Europe and some slowness in other markets. That may be the case again this year. For the year as a whole, we expect much higher profits than Rogers has earned in many years."
 Based in Rogers, Conn., Rogers Corporation manufactures polymer composite materials and components, which it markets around the world. Rogers is a recognized leader in circuit materials for high frequency and computer applications, in high performance elastomer materials and components for office equipment and other applications, in moldable composite materials for automotive and electrical applications, and in power distribution products for computer and communications equipment.
 ROGERS CORPORATION
 Financial Results
 Quarters Ended: Six Months Ended:
 7/4/93 6/28/92 7/4/93 6/28/92
 (Dollars in thousands,
 except per share amounts)
 Sales $30,939 $40,325 $63,718 $82,125
 Income Before
 Cumulative Effect
 of Accounting
 Change 1,612 123 3,253 212
 Cumulative Effect
 of Change in
 Accounting for
 Postretirement
 Benefits --- --- --- (6,241)
 Net Income (Loss) 1,612 123 3,253 (6,029)
 Income Per Share
 Before Cumulative
 Effect of Accounting
 Change 51 cents 4 cents 1.04 7 cents
 Loss Per Share of
 Cumulative Effect
 of Accounting Change --- --- --- (2.02)
 Net Income (Loss)
 Per Share 51 cents 4 cents 1.04 (1.95)
 Shares
 Outstanding 3,140,550 3,097,737 3,127,321 3,091,552
 -0- 7/20/93
 /CONTACT: Robert White or Karen Krider of Rogers Corporation; (fax) 203-774-9630, (phone) 203-774-9605/
 (ROG)


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

CM -- NE016 -- 3427 07/20/93 13:43 EDT
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Date:Jul 20, 1993
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