The Right Approach: Get Ready for ISO 9001 Version 6
Dan’s Biz Bookshelf: ‘Still Broke: Walmart’s Remarkable Transformation'
Driving Innovation: Depth Routing Processes—Achieving Unparalleled Precision in Complex PCBs
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
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
It's Only Common Sense: Leveraging AI in Your Sales Strategy
09/01/2025 | Dan Beaulieu -- Column: It's Only Common SenseLet’s get one thing straight: AI isn’t here to replace you; it’s here to make you smarter and faster. Every time a new tool shows up, half the sales floor panics: “They’re going to automate us out of a job!” This is shouted while doomscrolling LinkedIn. Relax. Sales is still, and will always be, about human connection, trust, and delivering value. However, if you’re not using AI to your advantage, you’re handing your competitors a loaded gun and asking them to shoot first.
Lessons From a Thousand Columns: Dan Beaulieu on Writing, Selling, and Staying the Course
08/21/2025 | Michelle Te, I-Connect007For 20 years, Dan Beaulieu has been a steady voice in sales and marketing, offering weekly columns that challenge, inspire, and guide professionals in the electronics industry and beyond. Soon, he will reach a remarkable milestone—his 1,000th It’s Only Common Sense weekly column. In this Q&A, we look behind the scenes of Dan’s writing journey, exploring what has kept him motivated, the lessons he’s learned along the way, and how two decades of weekly columns have shaped his career and the industry conversation.
COVID, Tough Sales, and What Made Me a Better Salesperson
08/12/2025 | Daniel Beauvois, The Component StoreBefore 2020, we approached sales differently. A persistent, gritty salesperson could approach businesses daily without an appointment. They would often be turned away, but sometimes, they would be given a shot. Then, in March 2020, the COVID-19 pandemic became official, and things started to shut down. When we finally came back, everything had changed, creating an impenetrable barrier for outside salespeople.
Indium Corporation Promotes Two Leaders in EMEA (Europe, Middle East, and Africa) Markets
08/05/2025 | Indium CorporationWith its commitment to innovation and growth through employee development, Indium Corporation today announced the promotions of Andy Seager to Associate Director, Continental Sales (EMEA), and Karthik Vijay to Senior Technical Manager (EMEA). These advancements reflect their contributions to the company’s continued innovative efforts with customers across Europe, the Middle East, and Africa (EMEA).
It’s Only Common Sense: Sales as a Team Sport
08/04/2025 | Dan Beaulieu -- Column: It's Only Common SenseAnyone who has played, or even watched, sports knows that it’s not just about scoring points or making big plays—it’s about everyone working together toward a common goal. Sales is no different. Too often, sales is considered an individual activity, with each salesperson striving to hit his or her targets. However, the reality is that sales works best when it’s treated as a team sport, with everyone working toward a common goal.