Rogers Corp. posted double-digit revenue growth in its core divisions in the second quarter, but saw its profits fall 14 percent on a mix of charges and costs.
The components materials maker reported net sales of $132.5 million for the quarter, up from $125.3 million for the same period last year. Printed circuits and power electronics, the company’s two biggest divisions, increased sales 12.5 and 19.5 percent, respectively.
But profits were down at $5.6 million compared to $6.5 million a year ago. The company reported higher restructuring and impairment charges and R&D costs. It also had about half as much equity income in its high-performance foams joint venture, which saw sales drop 21 percent during the quarter.
