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ROGERS CORPORATION REPORTS IMPROVED SALES AND EARNINGS IN FIRST QUARTER 1993

 ROGERS, Conn., April 21 /PRNewswire/ -- Rogers Corporation (AMEX: ROG) reports earnings of $1,641,000, or 53 cents per share, for the first quarter. With only a small tax provision, after-tax earnings were about the same as before-tax. In the first quarter of 1992, the company earned $89,000, or 3 cents per share, before giving effect to a cumulative accounting change of $6.2 million for the adoption of Financial Accounting Standard 106. Sales for the quarter of continuing product lines were $32.8 million, 16 percent above last year's corresponding period.
 "The major changes made since early 1992 have begun to show results, with first quarter before-tax earnings the highest in five years," said Harry H. Birkenruth, president and chief executive officer.
 Birkenruth added, "During the first quarter we signed a letter of intent to sell our Flexible Interconnection Division to Ampersand Ventures. If all goes as expected, this sale will be completed before the end of the second quarter. We also completed our refinancing earlier this month, as planned."
 "Sales and profit growth is coming primarily from two of the company's four major product groups. Within high performance elastomers, we had growth in PORON(R) materials for foot comfort and for industrial, automotive, and printing uses. In our elastomer molded products area, ENDUR(R) components are being used in new office equipment applications, and we had gains in sales of fuser rolls for copiers and NITROPHYL(R) floats for automotive uses."
 "RT/duroid(R) and R/flex(R) circuit materials sales were also significantly better than in the first three months of last year, especially for commercial microwave and notebook computer applications."
 "Excluding the planned divestiture, electronic component sales were down, reflecting the drop in sales of our power distribution products to the shrinking mainframe computer market. We expect this trend to accelerate in the second quarter."
 "Although profits in the second quarter are expected to be dampened somewhat by reduced sales of power distribution products, based on the fine start we have made in the first quarter and what we see ahead, we expect healthy profits for the full year."
 Rogers is a manufacturer of specialty high performance materials and components and is based in Rogers, Conn.
 ROGERS CORPORATION REPORTS FOR THE:
 (dollars in thousands, except per share amounts)
 Quarter Ended:
 4/4/93 3/29/92
 Sales $32,799 $41,800
 Income before cumulative
 effect of accounting
 change 1,641 89
 Cumulative effect of change
 in accounting for
 postretirement benefits --- (6,241)
 Net income (loss) 1,641 (6,152)
 Income per share before
 cumulative effect of
 accounting change 53 cents 3 cents
 Loss per share of
 cumulative effect of
 accounting change --- (2.02)
 Net income (loss) per
 share 53 cents (1.99)
 Shares outstanding 3,114,093 3,090,014
 -0- 4/21/93
 /CONTACT: Robert F. White of Rogers Corp., 203-774-9605/
 (ROG)


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

DJ -- NE012 -- 8716 04/21/93 12:06 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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