Rogers, Connecticut -- Rogers Corp. has reported record quarterly sales for the second consecutive quarter, the company said in a 1 Aug statement.
Quarterly sales for the second quarter of 2011 were $143.7 million up from $96.6 million in 2010. The company, which makes speciality materials for electronic products, reported a gross margin of 33.5 percent, which it said was in line with expectations and an improvement sequentially from the first quarter of 2011.
In its high performance foams segment, Rogers reported record sales of $44 million, an increase of 13.1 percent compared to second quarter 2010 sales of $38.9 million. Sales of urethane foam products also reached a quarterly record with significant growth in large-screen mobile internet devices and general industrial applications, Rogers said.
Rogers' 50-percent-owned high performance foams joint ventures had quarterly sales totalling $16.8 million compared to $16.4 million in the second quarter of 2010. The relatively flat joint venture sales this quarter compared to a year ago were due to strong sales into office equipment and general industrial markets offset by weakness in gaming console devices, LCD TV's, and in the Japanese market in general, the company said.
"Record sales and earnings, which exceeded our guidance, were just two of our many accomplishments in the second quarter of 2011," said Robert Wachob, Rogers' ceo, adding that he expected third quarter sales of between $144-149 million.