ROGERS, Conn.—Rogers Corp. has posted gains in both sales and net income for 2016, per its financial report.
The firm's net income increased 4.2 percent to $48.3 million while sales also grew by 2.3 percent to $656.3 million for 2016. Rogers also posted gains in both categories for the fourth quarter of 2016, with net income increasing 81.1 percent to $11.9 million and sales increased to $173 million, up 13.1 percent compared to the previous period.
Its Elastomeric Material Solutions segment, which houses its silicone and urethane foams business, reported a 33.3 percent increase in sales to $56.7 million for the fourth quarter, thanks largely to the recently acquired DeWAL industries. Higher demand for portable electronics, automotive and general industrial applications also contributed to the growth.
Full-year segment results were not included with Rogers' financial report.