Killingly manufacturer Rogers Corp. returned to profitability in the first quarter, riding strong sales of materials for printed-circuits and hand-held electronics.
Rogers earned $6.9 million, or 43 cents a share, in the three months ended March 31, compared to a loss of $8.7 million, or 56 cents a share, the same period last year.
First-quarter revenues rose to $83.9 million from $65.5 million a year ago.
The company recently raised its outlook for first-quarter earnings of 35 cents to 39 cents per share, up from previous guidance of 23 cents to 30 cents per share.
Rogers said sales of printed-circuit materials for electronics and aerospace and high-performance foam used in casings for portable wireless devices, shoes and railcar seating rose 15 percent and 85 percent, respectively.
On March 31, Rogers completed the first phase of its buyout of polyurethane foam-maker SK Utis Co. Ltd. of Korea for $29 million.
Custom electronics components was the only sales segment that declined in the quarter, primarily due to softer demand in Europe’s renewable energy market and weakness in Asia’s mass-transit market.
