Trouble in Your Tank: Understanding Interconnect Defects, Part 1
It’s Only Common Sense: Marketing Isn’t Fluff, It’s Ammunition
Driving Innovation: Mechanical and Optical Processes During Rigid-flex Production
Rogers Corporation Reports Q2 2024 Results
July 26, 2024 | Rogers CorporationEstimated reading time: 1 minute
Rogers Corporation announced financial results for the second quarter of 2024.
"Solid execution contributed to results that were in line with our second quarter expectations,” stated Colin Gouveia, Rogers' President and CEO. "Sales were near the mid-point of our Q2 guidance, as stronger portable electronics and wireless infrastructure revenues were tempered by lower general industrial demand. We achieved record quarterly sales of our leading EV battery solutions, but overall EV/HEV results were mixed as power substrate sales declined due to elevated customer inventory levels. Stronger gross margin results drove higher earnings and reflect the structural cost improvements we have implemented in recent quarters. We remain intently focused on executing our strategy to grow the business and drive significant margin and profitability improvements."
Q2 2024 Summary of Results
Net sales of $214.2 million increased 0.4% versus the prior quarter resulting from higher sales in the EMS business unit. EMS net sales increased by 10.5% primarily from higher EV/HEV and portable electronics sales, partially offset by slightly lower aerospace and defense (A&D) sales. AES net sales decreased by 5.4% primarily related to lower EV/HEV, industrial and A&D sales, partially offset by higher wireless infrastructure sales. Currency exchange rates unfavorably impacted total company net sales in the second quarter of 2024 by $0.7 million compared to the prior quarter.
Gross margin increased to 34.1% from 32.0% in the prior quarter primarily from favorable product mix and reductions in manufacturing costs.
Selling, general and administrative (SG&A) expenses increased by $3.4 million from the prior quarter to $50.9 million. The higher SG&A was primarily due to the timing of variable compensation expenses and factory start-up costs.
GAAP operating margin of 5.3% decreased from 5.5% in the prior quarter, primarily due to higher SG&A and restructuring expenses. Adjusted operating margin of 8.2% increased by 70 basis points versus the prior quarter.
GAAP earnings per diluted share were $0.44 compared to earnings per diluted share of $0.42 in the previous quarter. On an adjusted basis, earnings were $0.69 per diluted share compared to earnings of $0.58 per diluted share in the prior quarter.
Ending cash and cash equivalents were $119.9 million, an increase of $3.0 million versus the prior quarter. Net cash provided by operating activities in the second quarter was $22.9 million and capital expenditures were $14.1 million.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Kevin Barrett Joins Technica USA as PCB Business Development and Account Manager
11/03/2025 | Technica USATechnica USA is proud to announce that Kevin Barrett has rejoined Team Technica as PCB Business Development /Account Manager.
It’s Only Common Sense: Marketing Isn’t Fluff, It’s Ammunition
11/03/2025 | Dan Beaulieu -- Column: It's Only Common SenseI’ve lost count of the times I’ve heard someone dismiss marketing as “fluff.” You know the tone: a little smirk, a little condescension, and the implication that “real companies” don’t need marketing. They say, “We make a great product. Our work speaks for itself.”
Five Ways to Revolutionize EMS Sales With AI
10/22/2025 | Nolan Johnson, SMT007 MagazineIf you’ve been in the EMS game for any length of time, you know the sales cycle can be a challenge to navigate. It’s complex, technical, and often a marathon, not a sprint. With OEMs demanding faster turnarounds, tighter margins, and bulletproof supply chains, the pressure is on for EMS providers to stand out in a crowded field.
The Chemical Connection: The Practice of Doing Business in Foreign Lands
10/01/2025 | Don Ball -- Column: The Chemical ConnectionForeign sales can be difficult and complicated, but like many U.S. companies, we deal with foreign customers through a series of authorized sales reps. We have one that covers Europe and several covering various Asian countries. We have two technical coordinators in the U.S., one who oversees Asian activities and one who covers Europe and the rest of the world.
It’s Only Common Sense: Storytelling That Sells—Stop Pitching, Start Painting Pictures
09/15/2025 | Dan Beaulieu -- Column: It's Only Common SenseLet me tell you something that most salespeople — even the ones flashing Rolexes and bragging about crushing their quotas—still haven’t figured out: Facts don’t close deals, stories do. People file away facts while they feel stories. Facts tickle the brain, but stories punch the heart, and it’s the heart that signs the check every time.