ROGERS, CT -- Rogers Corp. today reported first-quarter revenues of $83.9 million, up 28.1% from a year ago.

The net income was $6.85 million, up from a loss of $8.72 million a year ago.

Printed Circuit Materials revenues for the quarter totaled $34.6 million, up 15.3% from the first quarter 2009, on a broad increase in demand for high frequency circuit materials. Sales into the wireless infrastructure market were very strong this quarter, Rogers said, but with China completing its 3G buildout in most major cities, sales to that market are expected to return to more normal levels for the second quarter.

Gross margin was a record 36.1%, up 14.8 points from 2009.

During the period, Rogers said ti would dissolve its 50/50 joint venture, Polyimide Laminate Systems, with Mitsui Chemicals. Rogers will absorb the JV's programs, which are expected to add $5 million in revenue per quarter.

Rogers’ ended the first quarter with cash and short-term investments of $42.9 million and long-term auction rate securities of $42.8 million at par value.

In a press release, president and CEO Robert D. Wachob said, "Our markets are clearly recovering, with the strongest rebound in North America with a 35% increase in sales, while Asia and Europe each gained about 25%. Historically, the second quarter is generally our slowest quarter and I see this year’s second quarter shaping up that way."

Rogers guided for second quarter sales of $83 million to $87 million.