Bruce D. Hoechner, President and CEO commented, “October and November sales were very strong but during the month of December we experienced a considerable decline in orders across all of our businesses. This decrease in demand is likely related to the broader economic environment, including concerns over the US fiscal cliff issues. The market indices appear to be more positive as we enter 2013 and we believe we will see improved growth as the year unfolds. There is still a strong outlook in 2013 for the build out of 4G/LTE in the telecom space and the China stimulus package that will benefit the mass transit and energy markets. We continue to have a strong presence in several faster growing markets such as hand held mobile devices and expect them to have a favorable impact on our results going forward.”

Notes to Reconciliation of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures

Management believes non-GAAP information provides meaningful supplemental information regarding the Company’s performance by excluding certain special adjustments that may not be indicative of the core business operating results. Rogers believes that this additional financial information is useful to management and investors in assessing the Company’s historical performance and liquidity and when planning, forecasting and analyzing future periods.
   
Projected Earnings per Diluted Share Guidance Reconciliation:

Fourth Quarter 2012 EPS Range
Low     High
GAAP estimated net earnings from operations $ 0.24     $ 0.30

Impact of special adjustment items:
Special charge streamlining – primarily Curamik move to Hungary (0.19 ) (0.19 )
 
Asbestos liability increase due to forecast period change (0.13 ) (0.13 )
 
Inventory valuation accounting change 0.09 0.09
 
Foreign currency and hedge valuations (0.05 ) (0.05 )
       
Total special adjustments (0.28 ) (0.28 )
       
Non-GAAP estimated net earnings from operations $ 0.52       $ 0.58  
 

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