Killingly specialty-products manufacturer Rogers Corp. rode the cresting wave of demand for smartphones, tablets and other high-margin electronics to post soaring fourth-quarter and 2012 profits.
For three months ended Dec. 31, Rogers netted $5.1 million, or 29 cents a diluted share, up from $1.1 million, or 7 cents a share, netted the same period a year earlier.
Three-month revenue was $124.2 million vs. $125.3 million a year ago.
For the year, Rogers netted $68.7 million, or $4.04 a diluted share, up from $37.1 million, or $2.21 a share, netted in 2011.
Full-year revenue was $498.8 million vs. $548.3 million.
Named for the Rogers section of the eastern Connecticut town where it’s based, the company said gross margins hit 34.4 percent in the fourth quarter, up from 29.7 percent for the same period a year earlier.
Rogers provides, among other products and services, foam cushioning and sealing materials for smartphones and tablets, as well as high-frequency printed circuit materials for liquid crystal display TV monitors.
CEO Bruce D. Hoechner said cost-cutting programs begun in early 2012 also helped the bottom line and will continue through 2013.
For the first quarter, Rogers forecasts revenues between $129 million and $133 million and non-GAAP income from continuing operations of between 57 cents and 61 cents a share.
