A message from Bruce Hoechner, CEO, Rogers Corporation:
We announced our third quarter earnings on November 5th, a week later than planned due to Hurricane Sandy. We weathered the great storm well in Connecticut although thousands are still without power. My sincere thanks to all our employees who made sure that our customers saw as little interruption as possible due to this crisis. Our thoughts are with those folks who were severely impacted by the storm. Rogers has already donated $20,000 to the Red Cross storm relief effort and we are investigating how else we can help.
For the third quarter of 2012, our businesses generated net sales of $130.2 million, a decrease of 11.6% from last year’s third quarter. The majority of the decline was in our Power Electronics segment reporting a 35% decline. This segment was hard hit due to markets it serves such as industrial motor controls, driven by capital investment, and renewable energy markets that rely on governmental infrastructure investment.
We believe these markets have bottomed out and we will begin to see improvements in demand by the second half of 2013. In comparison with the results for Q3-2011, High Performance Foams was down 3.5%, while Printed Circuit Materials achieved a 1% increase for the quarter. Sequentially, however, we achieved an overall 3% net sales improvement versus the second quarter of 2012, with both High Performance Foams and Printed Circuit Materials reporting strong growth at 10.9% and 7.2%, respectively. Power Electronics Solutions declined 11.4% versus last quarter.
Although we expect our commitment to the megatrend focus areas of Clean Technology, Internet and Mass Transit to help accelerate the Company?s growth over the next few years, economic and market dynamics impacted results in the third quarter. These megatrends drove 53% of net sales in the quarter, down from 60% in Q3 of 2011. Hardest hit was our Clean Technology megatrend category where the ongoing slowdown in capital and infrastructure spending continues to impact demand for our power electronics solutions for industrial motor drive and wind energy applications. However, we have seen a significant increase in demand for our power distribution systems into several projects in the automotive market. In Mass Transit, we have not yet seen the rebound in rail investment in Europe and China that we expect will drive demand for our Power Distribution Systems products.
As for the Internet megatrend, in Mobile Internet Devices, our High Performance Foams business continues to be a market leader in cushioning and sealing for tablet computer applications, but timing of tablet model changes left inventory in the supply chain, preventing it from being a stronger quarter. Sales were strong for our PORON® XRD® cushioning materials for mobile device cases, also used in sports impact apparel. In Internet Infrastructure, our Printed Circuit Materials business showed strong growth in products that enable the latest smart antenna technologies. Sales for base station power amplifier applications were up vs. last quarter, a sign we believe indicates that the highly anticipated wireless infrastructure build is beginning to ramp. On the wired network side, our recently launched Theta® high speed digital product has won several qualifications but development of demand has been slower than previously anticipated. We have put our capacity expansion for that product on hold for now as we work to align capacity with our latest view of market timing.
Despite the difficulties we face in the global economy, we exit the third quarter with strong growth, quarter on quarter, in two of our largest businesses and we believe that all of our businesses have strong growth prospects as we look toward the future. Rogers remains focused on improving our execution, identifying new growth opportunities, and managing the areas that are within our control. As technology leaders in our key markets, we are seeing positive indicators of continued growth in our High Performance Foams and Printed Circuit Materials businesses. In Power Electronics Solutions, we are not seeing a rebound yet but we are aligning our cost structure so that Rogers will be in a strong position to deliver even greater value to our customers and shareholders in the years to come.
What a great time of year….the days are getting longer and warmer, and Major League Baseball has officially begun. It has taken a little adjustment seeing players in new uniforms. I pretty much got used to seeing Pujols in the Angels uniform during the off season but Papalbon as a Philly and a few others will take some adjusting. And in case you really have not been paying attention, don’t forget the Marlins changed to the “Miami Marlins”. Changes happen all year long on teams to help make them better. The same goes for the equipment they are wearing.
The team at Rawlings® is constantly studying and testing products to enhance the performance of the player. One of the products Rawlings has been testing and designing more and more into their products is PORON® XRD™ Impact Protection. The material is soft and flexible at rest but when impacted, it momentarily “freezes” and dissipates energy creating a “shield”. In the sport of baseball when a hard ball is moving 90+ mph, this protection is obviously important.
Rawlings has designed PORON XRD Protection into the S100 helmet which is standard for all leagues beside the Majors. It is designed specifically to protect against high-speed impacts up to 100 miles-per-hour. Rawlings has also designed this technology into chest protectors, leg guard and may of their gloves. Athletes such as World Series Champion and all-star catcher Yadier Molina have even asked for products designed with more PORON XRD Protection. Want another player using the product in his equipment….how about a 1st baseman considered by many as the best player in the game (today and historically). That’s right, Pujols has PORON XRD Protection in his gloves also.
So the next time you’re out looking for equipment, look for Rawlings products with the PORON XRD Impact Protection tag. If the players at the pinnacle of the sport trust the equipment, don’t you think you should also?
For more information about where to find products designed with PORON XRD Impact Protection, check out www.poronxrd.com
From protective equipment to hand bags and footwear to apparel, the PORON® Team knows how important it is to set your brand apart from the competition. For our PORON Brand Partners, product and brand differentiation begins at the design stage, when they decide to build their products with the best materials for comfort, impact protection and long term reliability.
But for the end customer who is choosing between one brand of protective gear versus another, sometimes this form of product differentiation isn’t enough.
That’s why our Brand Partners choose to promote PORON Technology in their latest styles and innovations. Branding with the PORON and PORON XRD name is a key step in ‘closing the loop’ and making an important connection with consumers that products enhanced with PORON Materials have been designed with long-lasting performance, comfort and innovative technology in mind.
To further assist our Brand Partners in telling their product’s story with PORON and PORON XRD Technology, we’re excited to launch the new PORON Branding Portal, which will allow our Brand Partners to search, download and most importantly use a wide range of PORON marketing support materials….INSTANTLY!
The new Branding Portal can be easily accessed directly from both the PORON and PORON XRD websites under the “Brand Support” tab. Or for those planning to regularly visit the site for all the most up-to-date and exciting PORON branding tools, we suggest bookmarking http://www.poroncushioning.com/brandsupport/ under your “Favorites!”
How do you get started?
1) Access the portal
2) Search and place the PORON information most useful to your brand into your “Shopping Cart”
3) Enter your contact information at the “Check Out” screen
4) Instantly download your selections directly to your desktop!
What will you find?
A variety of PORON and PORON XRD branding and co-branding tools including:
– Hang tag and sewn-in tag options
– Product and application photos
– Educational and product demo vide0
– Product literature
– Sales training tools
– AND MUCH MORE!
Items are being added daily, so please check back often and let us know if there are additional PORON marketing, sales or branding tools you would like added!
Simply e-mail us at: email@example.com
Okay, so enough reading…now please visit the PORON Branding Portal today and let us know what you think!
Those folks from PORON Cushioning are at it again! In this latest PORON® XRD™ video, we take a closer look at how PORON XRD works for impact protection when pairing a thin piece of mobile phone LCD display glass and a hammer! Sounds like one will be a sure loser…or will it?
Talk with our PORON brand partners to receive information on new products, brands and find where you can buy equipment with PORON XRD Protection.
For additional product information, check out the PORON XRD website.
With impact protection in the forefront of sporting goods design, Rogers Corporation has developed two customizable PORON® XRD™ molded shapes that offer product developers easy design solutions. The PORON XRD Extreme Impact X-Pad and B-Guard will be introduced at the Outdoor Retailer Show this August 4-7 in Salt Lake City, UT.
PORON XRD Technology is soft and flexible to the touch, and the material instantly forms a protective shell on impact, providing reliable, long-lasting protection. Additionally, PORON Cushioning has an exclusive license with Microban® antimicrobial product protection, which helps fight against bacteria, mold and mildew that can cause stains and odors.
The PORON XRD X-Pad was developed for applications ranging from knee and elbow pads to shin and thigh protection. Its unique and flexible shape allows it to be easily trimmed, formed and stitched to fit specific designs. It is made with a fabric backing and moisture-wicking air channels for added comfort. While extremely versatile, the PORON XRD X-Pad is also durable, abrasion resistant and easy to care for.
The PORON XRD B-Guard is a ready-to-use shape developed for high-impact protection. Having passed the EN 1621-2 impact absorbency test method for motorsports, and the EN 13158 for equestrian, the PORON XRD B-Guard is particularly suited for apparel requiring back protection along with other sports where there is risk of a hard fall such as skiing and snowboarding. It is made with flexible, grooved hinges to allow for easy contouring, and for air and moisture to move around freely. It’s lightweight, durable, easy to care for, and can be trimmed to fit men’s and women’s sizes.
For more information, read the entire press release