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Rogers Releases Q1 Results |
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Written by Tracy Heffner
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Thursday, 03 May 2007 |
ROGERS, CT – Rogers Corp. announced record first quarter sales of $115.8 million, up 12% compared to the $103 million sold in the first quarter of 2006 and above the company’s February 21, 2007 guidance of $108 to $112 million. Net income for the quarter was $9.5 million compared to $12.6 million a year ago.
Sales of custom electrical components were $39.3 million for the quarter, up 36% compared to last year’s first quarter sales of $28.8 million. The sales increase was primarily driven by portable communication applications and higher demand in the locomotive market.
Printed Circuit Materials segment sales totaled $39 million, up 7% over the first quarter of 2006. Sales into communications infrastructure, satellite TV dishes and military applications were up over last year’s first quarter, and more than mitigated a decline in sales into the portable communications and hard disk drive markets. The company anticipates that the on-going global roll-out of next generation cellular wireless broadband communication networks will continue to drive revenue growth in this business segment for the foreseeable future. Also, consumer demand for increased high-definition satellite television offerings will provide sales growth as newer systems are deployed.
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