UPDATE 1-Rogers Q3 lags Wall Street; shares down

* Q3 EPS $0.55 vs est $0.57

* Sees Q4 EPS $0.52-$0.57, rev $91-$96 mln

* Says Q4 view includes $0.15/shr gain from JV stake sale

* Shares down 5 pct

Nov 1 (BestGrowthStock) – Rogers Corp (ROG.N: ), a maker of specialty
materials for the portable communications industry, reported a
third-quarter profit (Read more your timing to make a profit.) below analysts’ estimates on higher
expenses, and forecast slower growth in one of its key
segments.

“Looking forward, I see the markets for our products to
continue to be healthy, albeit at a slower rate of growth than
earlier in the year, and with some customer inventory
corrections, especially in our high-performance foams
business,” Chief Executive Robert Wachob said in a statement.

The business, which provides cushioning, sealing and
protecting sensitive chomponents in mobile internet devices,
accounted for 40 percent of the company’s third-quarter
revenue.

The company said it expects fourth-quarter earning of 52-57
cents a share, including a one-time gain of 15 cents a share
from the sale of its 50 percent stake in joint venture Rogers
Chang Chun Technology Co Ltd, completing the company’s exit
from the commoditized flexible circuit materials business.

It expects fourth-quarter revenue of $91-$96 million.

Analysts expect fourth-quarter earnings of 50 cents a
share, on revenue of $95.83 million, according to Thomson
Reuters I/B/E/S.

For the quarter ended Sept. 30, the company earned $8.9
million, or 55 cents a share, compared with $6.3 million, or 40
cents a share, a year ago.

Revenue rose 25 percent to $101.3 million. Its
high-performance foams unit sales rose 20 percent to $40.6
million.

Analysts were expecting earnings of 57 cents a share on
revenue of $100.2 million.

Shares of Rogers Corp (ROG.N: ) fell 5.9 percent to $32.20 in
extended trading on Monday. Shares of the company, which had
touched a year high of $35.75 on Oct 29, closed at $34.22 on
Monday on the New York Stock Exchange.
(Reporting by Soham Chatterjee in Bangalore; Editing by Vyas
Mohan)

UPDATE 1-Rogers Q3 lags Wall Street; shares down