Rogers Corp. posted record sales and profits for the second quarter, led by the performance of a six-month-old German acquisition whose performance top executives for the Killingly technology manufacturer admit surprised even them.
Rogers earned $12.2 million, or 73 cents a share, in the three months ended June 30, up from $8.3 million, or 52 cents a share, earned the same period a year earlier.
Second-quarter revenues jumped to $143.7 million vs. $96.6 million last year.
The company had previously estimated revenue in the range of $134 million to $140 million and earnings at 62 cents to 71 a share.
It was Rogers’ second straight record quarter for revenue.
Pacing the quarter, the company says, was its Curamik Electronic Solutions division. Acquired in January for $154 million cash, Curamik makes direct copper bonded ceramic substrate products used in power modules for industrial motors, wind and solar energy converters and hybrid electric vehicle drive systems.
“… The Curamik acquisition continues to exceed our expectations,” Rogers CEO Robert D. Wachob said in Tuesday’s earnings statement.
The company makes, among other things, printed circuit boards and foam materials used in wireless and other portable electronic devices.
