Rogers Corp., the Killingly electronics and aerospace parts manufacturer, has raised its third-quarter revenue and profit outlook, saying sales of high-performance foams for mobile phones and other devices have been better than expected.
Rogers now forecasts quarterly revenue between $74 million and $77 million, up from an August estimate of $68 million to $73 million.
Earnings for the September quarter are expected between 22 cents and 28 cents per share, up sharply from prior estimates of 5 cents to 15 cents per share. The profit guidance includes a charge of $1 million, or 6 cents per share, for one-time integration costs related to its acquisition of MTI Global Inc.
On average, analysts surveyed by Thomson Reuters are expecting quarterly profit of 16 cents per share. Such estimates typically exclude one-time charges and gains.
The company also said it is seeing stronger growth in its printed circuit materials business for satellite television and military applications. (AP)
