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ROGERS REPORTS 1991 RESULTS

 ROGERS REPORTS 1991 RESULTS
 ROGERS, Conn., Feb. 5 /PRNewswire/ -- Rogers Corporation (AMEX: ROG)


reported 1991 sales of $182,352,000, 4 percent below 1990's volume of $190,319,000. Excluding the year-end 1991 pre-tax special charge of $2,774,000, the after-tax loss for the full year was $212,000, or 7 cents per share. Including special charges, the after-tax loss for the year was $2,320,000, or 75 cents per share, compared with the 1990 loss of $2,447,000 or 80 cents per share. Before special charges, the company had pre-tax operating income of $1,724,000 in 1991 and $4,681,000 in 1990.
 Sales of $42,668,000 for the fourth quarter were down 12 percent from $48.6 million in the comparable 1990 period. The fourth quarter loss, before the special charge, was $922,000 or 30 cents per share, compared with net income of $882,000 or 29 cents per share, for the final 1990 quarter. Including the special charge, the fourth quarter after-tax loss was $3,030,000 or 98 cents per share.
 Norman L. Greenman, president of Rogers Corporation, said, "When it became clear in the latter part of the fourth quarter that the recession's effect on sales was intensifying, the decision was made to implement another significant cut in expenses, including a reduction of approximately three percent of salaried personnel. This, together with product line pruning and various asset writeoffs, resulted in the special charge, all of which will be recovered through savings in less than one year. Furthermore, Roger's financial position remains strong, with inventories relative to sales lower than at the start of the year, and cash and equivalents higher."
 Greenman stated, "Interrupting their normal progression, Interconnection Product sales fell eight percent from the previous year, with about one quarter of the change resulting from divestiture of the keyboard business in Europe. The largest decline is attributable to flexible circuit sales, which were up in the first half but down sharply in the final six months." He went on to say, "Shipments of multimetal layer Tape Automated Bonding (TAB) components were much lower than originally projected by the computer mainframe manufacturer which was the prime customer for these TAB parts. Bus bar sales, helped by the introduction of a new generation of mainframe computers, and microwave circuit volume, spurred by Patriot missile requirements in the first part of 1991, were positive factors in the year.
 "Polymer Product shipments showed a small improvement in 1991, because of increasing sales of ENDUR(R) office equipment components and also of PORON(R) materials, particularly to the graphic arts market. These gains were offset somewhat by a modest decline in molding materials sales," said Greenman.
 Greenman went on to say, "The combined sales of our joint ventures increased to approximately $59 million from $55 million in 1990. Our joint venture in Japan, Rogers Inoac Corporation, achieved a 20 percent sales increase in its PORON and ENDUR products."
 He concluded, "As in past downturns of the economy, Rogers will emerge from this recession stronger than before; and the extensive expense reductions we have implemented will lead to a more appropriate level of profitability when the economy improves and sales again move up."
 Headquartered in Rogers, Conn., Rogers Corporation is a major manufacturer of electronic interconnection products and polymeric materials and components for the electronics and other selected industrial markets.
 ROGERS CORPORATION
 Financial Summary
 Quarter Ended Year Ended
 12/29/91 12/30/90 12/29/91 12/30/90
 Sales $42,668,000 $48,600,000 $182,352,000 $190,319,000
 Net income
 (loss) (3,030,000) 882,000 (2,320,000) (2,447,000)
 Earnings
 (loss) per
 share (98 cents) 29 cents (75 cents) (80 cents)
 Avg. shares
 outstanding 3,084,020 3,075,964 3,081,351 3,068,933
 -0- 2/5/92
 /CONTACT: Stuart J. Safft, senior vice president-finance, of Rogers Corporation, 203-774-9605/
 (ROG) CO: Rogers Corporation ST: Connecticut IN: CPR SU: ERN


EG-SH -- NE009 -- 7218 02/05/92 13:11 EST
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Date:Feb 5, 1992
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