Rogers Corp. (NYSE: ROG) CEO Bruce D. Hoechner has bought 3,299 shares of ROG common stock for a total of $119,905.
ROG shares are marginally higher in trading today. At last check, the stock was trading 0.30% higher at $37.25 on volume of 33,648. Year-to-date, ROG shares gained 1.06%, compared to a gain of 9.49% for the S&P 500.
Based in Rogers Connecticut, Rogers Corp. supplies a range of specialty materials and components for the portable communications, communications infrastructure, consumer electronics, mass transit, automotive, defense and clean technology.
In its most recently reported quarter (Q1), Rogers Corp. posted revenue of $121.4 million, compared with revenue of $135.9 million reported for the same period in the previous year. Net loss for the first quarter of 2012 was $0.10 per share. Excluding one-time items, the company’s income from continuing operations for the first quarter was $0.26 per share.
Hoechner said at the time of the release of first-quarter results that ROG’s efforts to drive efficiency and focus across the enterprise are starting to pay off with an expected second-quarter savings of $1.5 million increasing to a quarterly rate of $3.3 million by the fourth quarter of 2012. Hoechner said that the first quarter was challenging as expected, however, the company’s performance was in-line with expectations and guidance. Hoechner also said that overall, the company remains confident in the mid- and long-term strength of its corre markets and is beginning to see initial signs of market improvement.
For the second quarter of 2012, ROG expects to report revenue of $125 million to $132 million. Earnings for the quarter are expected to be between $0.37 per share and $0.47 per share.
Rogers Corp. will report its second-quarter financial results on July 31st, 2012.
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