Rogers earnings skyrocket, sales dip

ROGERS, Conn. (July 24)—Rogers Corp. posted record profits and earnings per share in the second quarter. Sales were down slightly, however, to $61.3 million in the quarter from $62.8 million in the similar period last year. Half-year sales were down 2.2 percent to $124.9 million from $127.7 million in 1999. Net income in the quarter skyrocketed 48.4 percent to $6.4 million from $4.3 million last year. For the six months, earnings reached $12.4 million, up 36.6 percent from the $9 million reported in the similar period last year. Earnings per share increased 46.4 percent in the quarter to $0.41 from $0.28 and 34.4 percent to $0.78 from $0.58 for the half-year. The company attributed the strong earnings to good margins from sales to communications and computer markets. The sales decrease was the result of a change in reporting of sales of a specialty flexible circuit board laminate, according to the company.