ROGERS, CT -- Rogers today announced record second quarter net sales at its PCB laminate business unit, Advanced Connectivity Solutions, led by growth in high frequency circuit materials used in automotive safety applications and 4G/LTE wireless telecom applications.

Sales at the unit were up 1.2% from a year ago to $67.2 million. Fluctuations in currency exchange rates unfavorably impacted net sales in the second quarter by $400,000, and the company saw lower demand in satellite TV dish applications during the period.

Overall second quarter net sales were $157.5 million, down 3.4% from a year ago. Not incluing $4.9 million of net sales related to divested businesses, sales for the period ended June 30 were down less than 1%. Rogers sold its polyimide and thermoset laminate business in December 2015.

Net income fell 60% to $5.38 million.

Gross margin was 38.2% in second quarter, up from 37.2% a year ago, and operating margin was 11.9%, down from 12.6% in 2015.

The results were within previous company guidance.

In a press release, CEO and president Bruce Hoechner said, “Our discipline around cost management and commitment to continuous operational improvements contributed to a gross margin of 38.2%, an increase of 100 basis points. We believe our actions, such as repatriating foreign earnings and investments in key market analyses, position us well to fulfill our strategic goals. While we are cautious in the near-term and expect market uncertainty to continue into Q3, our strategic investments will drive greater agility and flexibility to address fluctuations in market dynamics.”

Rogers projected third quarter net sales of $150 million to $160 million.

Separately, Rogers announced its would move its global headquarters to Chandler, AZ.

The move will build upon Rogers’ presence in Arizona, where it already has major business and manufacturing operations. Hoechner said that the decision supports the company’s long-term strategy and is an integral part of its plans for growth and expansion.

“Relocating our corporate headquarters to Arizona improves our access to the growing business and technology centers on the west coast.”

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