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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:08 EDTROGRogers Corp lowers Q2 EPS view to 55c-58c from 68c-76c, consensus 74c
Raises Q2 revenue from continuing operations guidance to $153.5M from $143M-$148M, consensus $146M. These revised unaudited earnings estimates are primarily the result of increased selling, general and administrative expenses of approximately $6M-$7M and a higher than anticipated effective tax rate. The increase in SG&A expenses was driven by incentive compensation accruals and unusually high spending on internal process improvement projects, business development investments, CFO transition expenses, and other severance costs. The higher effective tax rate was the result of a change in the geographic profit mix to higher tax rate jurisdictions.
News For ROG From The Last 14 Days
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December 19, 2014
08:02 EDTROGHandy & Harman Announces Sale of Arlon to Rogers for $157M
Handy & Harman (HNH) announced that it has entered into a definitive agreement with Rogers Corporation (ROG) under which Rogers will purchase HNH’s subsidiary Arlon for a total transaction value of $157M. The companies expect to close the transaction, subject to the necessary regulatory approvals and other customary closing conditions, in the first half of 2015.
07:32 EDTROGRogers Corp agrees to acquire Arlon from Handy & Harman for $157M
Rogers Corporation (ROG) announced it has signed a definitive agreement to acquire Arlon, currently owned by Handy & Harman (HNH), for $157M, subject to closing and post-closing adjustments. The transaction, which is subject to regulatory clearances, is expected to close in the first half of 2015. Rogers intends to finance the transaction through a combination of cash and borrowings under an existing bank credit facility. Revenue and operating income for the Arlon segment of Handy & Harman were $100.4M and $16.7M, respectively, for the trailing twelve months ended September 30. Rogers expects the transaction to be accretive to its earnings in the first twelve months following the acquisition, excluding purchase accounting charges.

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