CHANDLER, AZ -- Rogers today announced second quarter net sales of $201.4 million, above previously announced guidance of $190 million to $200 million.
Sales for the period ended June 30 were up 28% from a year ago to $157.5 million. Currency exchange rates had a negative impact of $3.8 million during the quarter.
Net income was $20.9 million, up 287% from the prior year. Adjusted EBITDA was $46.5 million for the quarter, up from $29 million from 2016.
Gross margin rose 180 basis points to 40%. Operating margin rose 440 basis points to 16.3%. Adjusted operating margin was 19.1% in the second quarter of 2017, compared to 13.5% a year ago.
The firm's Advanced Connectivity Solutions reported second quarter net sales of $74.3 million, a 10.6% increase from 2016 on higher demand for high frequency circuit materials for automotive advanced driver assistance systems (ADAS) and aerospace / defense, partially offset by lower demand for wireless 4G LTE applications. Second quarter 2017 net sales were unfavorably impacted by $900,000 due to fluctuations in currency exchange rates.
Rogers ended the quarter with cash and cash equivalents of $177.3 million, a decrease of $50.5 million from $227.8 million at December 31, 2016.
Rogers guided for third quarter net sales of $193 million to $203 million.
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