Rogers Corp. posted lower second-quarter sales and profits as sluggish global demand for the Killingly manufacturer’s technology products and the cost to close a German plant chewed into earnings.
For three months ended June 30, Rogers netted $6.5 million, or 40 cents a share, down from $12.1 million, or 73 cents a share, netted the same quarter last year.
Second-quarter revenues were $126.7 million vs. $143.5 million a year ago.
During the quarter, Rogers shut its high-performance foams production plant in Bremen, Germany. Some of the Bremen operations are moving to Rogers’ plant in Carol Stream, Ill. The foams are used in plastic shell cases for tablet computers, cellphones and other electronics.
Rogers said its printed circuit materials and power distribution systems businesses, too, suffered dwindling sales during the quarter.
Rogers also disclosed its decision to end by yearend production of small non-woven composite materials at its facility in the Rogers section of Killingly. Sales had been in steady decline in recent years, the company said.
Meantime, the company said it continued progress building its presence in supplying components for base station antennas and automotive drive-by-wire systems in which the mechanical gas pedal and steering are augmented with electronics.
