Rogers Corporation reports Q2 adjusted EPS 34c, two estimates 50c

Reports Q2 revenue $202.8M, two estimates $198.75M. “As anticipated, second quarter sales increased sequentially due to incremental improvements across most end markets,” stated Ali El-Haj, Rogers’ Interim President and CEO. “Sales, gross margin and adjusted earnings per share were all within our guidance ranges for the quarter. We also utilized our strong balance sheet to repurchase $28 million of shares in Q2. Looking ahead to the third quarter we expect further improvement in our results from slightly higher sales and cost reduction measures. Today we also announced further cost savings initiatives targeted to our AES curamik business, in response to evolving market conditions. We are intently focused on achieving more significant improvements in the Company’s performance over the coming quarters as we improve sales growth with a more agile organization and increased speed of execution.”