Rogers Lowers Q4 Sales Guidance, Citing December Freeze | Print |  E-mail
Written by Mike Buetow   
Tuesday, 29 January 2013 13:44

ROGERS, CT -- Rogers Corp. today slightly lowered its guidance for the quarter ended Dec. 31, saying net sales from continuing operations would total $124 million.

The revised outlook is lower than the laminate materials developer's Nov. 5 guidance of $129 million to $135 million. That guidance included $1.6 million of net sales from its non-woven products operating segment, which the company previously announced would cease operations at the end of the 2012. The company is treating that segment as a discontinued operation as of the fourth quarter 2012 and is not including its sales in the revised sales guidance.

The company also lowered its GAAP earnings from continuing operations.

President and CEO Bruce Hoechner said the company remains optimistic for the long-term. “October and November sales were very strong but during the month of December we experienced a considerable decline in orders across all of our businesses. This decrease in demand is likely related to the broader economic environment, including concerns over the US fiscal cliff issues. The market indices appear to be more positive as we enter 2013 and we believe we will see improved growth as the year unfolds. There is still a strong outlook in 2013 for the build out of 4G/LTE in the telecom space and the China stimulus package that will benefit the mass transit and energy markets. We continue to have a strong presence in several faster growing markets such as hand held mobile devices and expect them to have a favorable impact on our results going forward.”

 

 

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