Rogers, Connecticut - Net income at Rogers Corp. has fallen by 47 percent in the second quarter of 2012 to $6.5 million. Sales for the period were $126.7 million, an 11 percent decrease from the same period in 2011, the technology company said in its quarterly report.
In its high performance foams, which include polyurethane foams for applications such as mobile internet devices, Rogers reported net sales of $43.3 million, a decrease of 1.6 percent. Sales were down slightly due to softer sales in general industrial applications, Rogers said.
However, there was continued strong demand for Poron urethane foams in tablet computers and for Poron materials for extreme impact protection, such as cases for smart phones and tablets, as well as sports impact apparel.
Rogers said sales at its 50-percent owned joint venture in high performance foams with INOAC Corp. totalled $15.9 million this quarter, a decrease of 5.4 percent from Q2 2011. The decrease was due to continued weakness in the Japanese domestic and export markets, particularly LCD TVs, domestic mobile phones and general industrial applications.
"In a tough global environment, our second quarter results were as expected given the overall uncertainty in the world economy and the continued volatility and sluggishness in many of our key markets," Bruce Hoechner, Rogers ceo commented.