Rogers' Preliminary Q2 Results Below Guidance


Reading time ( words)

Rogers Corporation today announced preliminary results for its fiscal second quarter ended June 30, 2015. Rogers expects that it will report net sales of between $162 and $164 million for the quarter as compared to the April 29, 2015 guidance of $175 to $185 million. Non-GAAP net earnings per diluted share for the second quarter 2015 are expected to be approximately $0.60 to $0.70 (which excludes $0.02 per diluted share of integration charges and a discrete favorable tax benefit of an estimated $0.08 per diluted share), compared to the previous non-GAAP guidance of $0.81 to $0.93 per diluted share (which excluded $0.10 per diluted share of integration charges).

These revised unaudited net sales and earnings estimates are primarily the result of a sudden sales decline into the Chinese wireless telecom market. The Company believes that the widely-reported government actions in Chinese state-owned telecom enterprises may have temporarily delayed certain projects. In addition, weakness in the portable electronics market also impacted results for the quarter. The Company expects sales will progressively recover during the second half of 2015.

Bruce D. Hoechner, President and CEO commented, “We believe the Chinese wireless telecom situation is temporary, although global economic conditions are more challenging to forecast. We remain confident in our strategy and the Company is well positioned to manage through these headwinds. Our outlook for our business remains positive.”

The Company plans to release results for its 2015 second quarter after the close of trading on Wednesday, July 29, 2015 and host its quarterly teleconference on Thursday, July 30, 2015. Details will follow.

About Rogers Corporation

Rogers Corporation (NYSE:ROG) is a global leader in engineered materials helping to Power, Protect, Connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, safety and protection and other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, vehicle electrification and alternative energy; High Performance Foams for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Printed Circuit Materials for wireless infrastructure, automotive safety and radar systems. Headquartered in Connecticut (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. For more information, visit www.rogerscorp.com.

Share

Print


Suggested Items

iNEMI’s PCB Roadmap Explained

05/01/2020 | Pete Starkey, I-Connect007
In an informative and enlightening webinar, iNEMI Project Manager Steve Payne was joined by Isola Group CTO Ed Kelley to explain, review, and discuss the details of the recently published “iNEMI 2019 Roadmap for Organic PCBs.” Pete Starkey provides an overview.

Congratulations to Bhanu Sood! Dieter Bergman IPC Fellowship Award Recipient

03/16/2020 | Patty Goldman, I-Connect007
Patty Goldman speaks with Dr. Bhanu Sood of NASA, Dieter Bergman IPC Fellowship Award recipient, about his extensive involvement with IPC on many committees developing standards to his work teaching professional development courses and mentoring young engineers.

Institute of Circuit Technology Spring Seminar 2020

03/11/2020 | Pete Starkey, I-Connect007
Back to Meriden, the nominal centre of England where the daffodils were blooming. A good crowd made it to the spring seminar that followed the Annual General Meeting of the Institute of Circuit Technology (ICT), with five specialist presentations and excellent opportunities to network with their peers in the industry. Pete Starkey shares his overview of the event.



Copyright © 2020 I-Connect007. All rights reserved.