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Rogers' Q4 sales up 7%. (Fabrication).

ROGERS, CT -- Rogers Corp.'s fourth quarter sales were up 7% to $51.5 million for the fourth quarter ended Dec. 29. Sales fell sequentially, due mostly to the divestiture of Roger's Moldable Composites division, Rogers said.

Rogers guided for revenues of $48 million to $51 million, and diluted earnings per share of 32 35 cents, a 33% to 46% increase year-on-year.

Net 2002 sales were $219.4 million, up from $216 in 2001. Including half the sales from Rogers' four 50%-owned joint ventures, sales were $286.7 million, up 4%. Full-year after-tax profits increased 18 % to $18.6 million.

Revenues from PCB materials were $21.6 million, up 12%, driven by cellphone applications and sales to a U.S. customer for disk drives. For the year, PCB materials sales were $82.4 million, down $5.9 million.

Rogers said it has seen "some positive trends in order rates" recently for high-frequency laminates.

Polyimide Laminate Systems, a JV that makes adhesiveless laminates for trace suspension assemblies, recorded its best quarter.

During the current quarter Rogers will begin production of high-frequency laminates in Evergem, Belgium, replacing operations in Afrikalaan, Belgium.
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Author:Buetow, Mike
Publication:Printed Circuit Design & Manufacture
Date:Apr 1, 2003
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