ROGERS, CT -- Rogers today announced second-quarter sales hit an all-time record of $153.5 million, up 15.9% from a year ago on demand for materials for the 4G buildout in China. 

Net income nearly doubled from last year to $10.9 million. Rogers ended the second with cash and cash equivalents of $218.7 million, up 14% year to date. 

The firm's Printed Circuit Materials unit reported all-time record quarterly net sales of $61.5 million for the quarter, up 34.9% from 2013. This strong growth was driven primarily by significant demand for high frequency materials to support wireless base station and antenna applications in connection with the global 4G/LTE infrastructure build-out, especially in China. In addition, there was increased demand for automotive radar applications for Advanced Driver Assistance Systems and certain applications in handheld devices for improved internet connectivity.

Power Electronics Solutions reported net sales of $42.9 million, up 5.2%.

Gross margins were up 330 basis points to 37.2%, while operating margin was up 50 basis points to 10.6%. 

"We are very pleased to report that in the second quarter we achieved strong topline performance and continued to improve our gross margins," CEO and president Bruce D. Hoechner said. "Growth across each of the business segments led Rogers to record all-time quarterly net sales." 

The firm guided for third-quarter revenue of $153 million to $159 million.

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