Rogers, Connecticut - Net income dropped to $1.1 million in the fourth quarter of 2011 from $10.5 million at Rogers Corp., the technology company said in its end of year report. This is despite an increase in revenue from $97 million to $126.4 million in the three months ended 31 Dec 2011.
Rogers, which makes electronics and high-performance foams for applications such as mobile internet devices, said net sales for the full year 2011 were an "all-time record" at $553.2 million, an increase of 46.3 percent from $378.2 million in 2010. Income for the full-year was only slightly up at $37 million, compared to $34.6 million in 2010.
In its high-performance foams sector, which includes polyurethane foams, sales were $44.7 million for the fourth quarter of 2011, an increase of 16.4 percent compared to Q4 2010 sales of $38.4 million.
The company said its "continued success" in cushioning, sealing and energy management for portable electronic devices, particularly large touch-screen mobile internet devices, was a key driver for sales in the fourth quarter of 2011.
Rogers noted that one of the newest product lines, polyurethane-based Poron moulded components, gained momentum in the quarter, primarily for applications in sports and impact apparel as well as mobile internet devices.
Rogers said it expected foam sales to increase in 2012.