<SEC-DOCUMENT>0001157523-16-004680.txt : 20160222
<SEC-HEADER>0001157523-16-004680.hdr.sgml : 20160222
<ACCEPTANCE-DATETIME>20160222162657
ACCESSION NUMBER:		0001157523-16-004680
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160222
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160222
DATE AS OF CHANGE:		20160222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROGERS CORP
		CENTRAL INDEX KEY:			0000084748
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821]
		IRS NUMBER:				060513860
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04347
		FILM NUMBER:		161445332

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 188
		STREET 2:		ONE TECHNOLOGY DRIVE
		CITY:			ROGERS
		STATE:			CT
		ZIP:			06263-0188
		BUSINESS PHONE:		860-779-5756

	MAIL ADDRESS:	
		STREET 1:		ONE TECHNOLOGY DRIVE
		CITY:			ROGERS
		STATE:			CT
		ZIP:			06263
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51284780.htm
<DESCRIPTION>ROGERS CORPORATION 8-K
<TEXT>
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    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      D.C. 20549</b></font><br>
    </p>
    <hr style="text-align: center; width: 20%; height: 1.0 pt; color: #000000">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 14pt"><b>FORM 8-K</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>
      Pursuant to Section 13 or 15(d) of the</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>
      Securities Exchange Act of 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of Earliest Event Reported):</font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>February
      22, 2016</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>ROGERS
      CORPORATION</b></font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of Registrant as specified in Charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Massachusetts</b></font>
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-4347</b>
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>06-0513860</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction of
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Incorporation)
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>One Technology Drive, P.O. Box 188, Rogers, Connecticut
            06263-0188</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal Executive Offices and Zip Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(860)
      774-9605</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
      telephone number, including area code)</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt"><b>Not
      Applicable</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt">(Former
      Name or Former Address, if Changed Since Last Report)</font>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c)) </font><br><br><br>
    </p>
    <hr style="height: 1.0 pt; text-align: center; width: 100%; color: #000000">
    <hr style="height: 1.0 pt; text-align: center; width: 100%; color: #000000">


    <p style="text-indent: 30.0px">

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">
      <b>Item 2.02 &#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="white-space: nowrap">
      <b>Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Regulation FD Disclosure</b>
    </p>
    <p>
      In a press release dated February 22, 2016, the Company announced its
      fourth quarter and fiscal year 2015 results and provided guidance for
      the first quarter of 2016.&#160;&#160;A copy of the press release is furnished
      herewith as Exhibit 99.1.&#160;&#160;The Company will also host a conference call
      and webcast on February 23, 2016 to discuss its results of operations.
    </p>
    <p>
      All information in this Form 8-K and the Exhibit attached hereto,
      including guidance or any other forward-looking statements, speaks as of
      February 22, 2016, and the Company undertakes no duty to update this
      information to reflect subsequent events, actual results or changes in
      the Company&#8217;s expectations, unless required by law.
    </p>
    <p>
      The information in Items 2.02 and 7.01 of this Form 8-K and the Exhibit
      attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18
      of the Securities Exchange Act of 1934 or otherwise subject to the
      liabilities of that section, nor shall it be deemed incorporated by
      reference in any filing under the Securities Act of 1933, except as
      shall be expressly set forth by specific reference in such filing.
    </p>
    <p>
      <b>Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; margin-left: 30.0px">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; width: 12%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="text-align: center; width: 76%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
        <td style="width: 12%">

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td style="width: 12%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 12%; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="text-align: center; width: 76%; padding-left: 0.0px" valign="top">
          Press release, dated February 22, 2016, issued by Rogers Corporation
        </td>
        <td style="width: 12%">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURES</font><br>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="width: 45%">

        </td>
        <td colspan="3" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>ROGERS CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="text-align: left; width: 17%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 5%; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 45%; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          By:
        </td>
        <td style="border-bottom-style: solid; text-align: left; width: 30%; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Janice E. Stipp
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Janice E. Stipp
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Vice President, Finance and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 10.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="text-align: left; width: 17%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date: February 22, 2016
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 17%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51284780-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Rogers
      Corporation Reports 2015 Fourth Quarter and Full Year Results</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Record
        fourth quarter net sales of $152.9 million, up 3.5%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter operating margin of 10.8% (non-GAAP), down 380 basis points
        (GAAP operating margin of 8.0%)</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Fourth
        quarter EBITDA of $28.2 million, down 9.6%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Record
        full year net sales of $641.4 million, up 5.0%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Full
        year operating margin of 13.7% (non-GAAP), down 90 basis points (GAAP
        operating margin of 11.9%)</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Full
        year EBITDA of $132.8 million, up 5.6%</b></font>
      </li>
    </ul>
    <p>
      ROGERS, Conn.--(BUSINESS WIRE)--February 22, 2016--Rogers Corporation
      (NYSE:ROG) today announced financial results for the fourth quarter and
      full year of 2015.
    </p>
    <p>
      The Company reported record fourth quarter net sales of $152.9 million,
      in line with the company&#8217;s previously announced guidance and a 3.5%
      increase from the net sales of $147.7 million for the 2014 fourth
      quarter. These results include $26.6 million of net sales from the
      acquired Arlon business. Net sales were unfavorably impacted by
      approximately $5.2 million of negative currency fluctuations primarily
      related to the decline in the value of the Euro.
    </p>
    <p>
      Earnings for the 2015 fourth quarter were $0.37 per diluted share (or
      $0.69 per diluted share excluding special charges, exceeding the
      company&#8217;s previously announced guidance), as compared to $0.39 per
      diluted share (or $0.91 per diluted share excluding special charges) for
      the fourth quarter of 2014. These results include earnings of $0.26 per
      diluted share from the acquired Arlon business.
    </p>
    <p>
      Going forward the Company will provide EBITDA and adjusted earnings as
      it believes these are key to assessing its internal core operating
      performance and will be useful information to analysts, investors and
      others. The Company defines EBITDA as net income excluding interest,
      income taxes, depreciation, amortization, restructuring, non-cash
      stock-based compensation and other discrete charges, and adjusted
      earnings as net income excluding restructuring, non-cash stock-based
      compensation, amortization and other discrete charges. The 2015 fourth
      quarter EBITDA was $28.2 million compared to $31.2 million for the 2014
      fourth quarter. The 2015 fourth quarter adjusted earnings were $0.88 per
      diluted share compared to $1.04 per diluted share for the 2014 fourth
      quarter.
    </p>
    <p>
      Net sales for the full year 2015 were a record $641.4 million, a 5.0%
      increase from the net sales of $610.9 million for the full year 2014.
      Full year 2015 net sales included $100.0 million of net sales from the
      acquired Arlon business and a negative impact of approximately $27.5
      million due to currency fluctuations (primarily related to the decline
      in the value of the Euro). Full year 2015 earnings were $2.48 per
      diluted share (or $3.08 per diluted share excluding special charges),
      compared to $2.86 per diluted share for full year 2014 (or $3.41 per
      diluted share excluding special charges). The full year 2015 includes
      earnings of $0.70 per diluted share from the acquired Arlon business.
      The full year 2015 EBITDA was $132.8 million compared to $125.7 million
      for the full year 2014. The full year 2015 adjusted earnings were $3.84
      per diluted share compared to $3.93 per diluted share for the full year
      2014.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Bruce D. Hoechner, President and CEO commented, &#8220;In 2015, Rogers was
      impacted by the volatile global economy. Despite these market headwinds,
      we delivered record sales for the year by remaining focused on our
      growth strategy and on successfully integrating the Arlon business. We
      are encouraged by the growth outlook in our global megatrend markets and
      in the progress we are making with our operational improvements. We
      believe the Company is well-positioned to capitalize on the
      opportunities that will arise when global markets recover.&#8221;
    </p>
    <p>
      <u><b>Business Segment Discussion</b></u>
    </p>
    <p>
      <u><i><b>Advanced Connectivity Solutions (ACS)</b></i></u><br>Advanced
      Connectivity Solutions reported record fourth quarter net sales of $63.8
      million, an 11.0% increase compared to 2014 fourth quarter net sales of
      $57.5 million. Organic sales declined $9.5 million or 16.4% on a
      currency neutral basis from the same quarter of the prior year.
      Fluctuations in currency exchange rates unfavorably impacted net sales
      in the fourth quarter by approximately $0.7 million or 1.2% as compared
      with the 2014 fourth quarter. Net sales during the 2015 fourth quarter
      include $16.4 million or 28.6% from the acquired Arlon business. The
      2015 fourth quarter results were favorably impacted by strong growth in
      high frequency circuit materials used in automotive Advanced Driver
      Assistance Systems and aerospace and defense applications, which
      partially offset weaker demand in the 4G LTE base station supply chain,
      primarily in China.
    </p>
    <p>
      <u><i><b>Elastomeric Material Solutions (EMS)</b></i></u><br>Elastomeric
      Material Solutions reported 2015 fourth quarter net sales of $42.5
      million, a 1.0% decrease compared to 2014 fourth quarter net sales of
      $43.0 million. Organic sales declined by $5.8 million or 13.5% on a
      currency neutral basis from the same quarter of the prior year.
      Fluctuations in currency exchange rates unfavorably impacted net sales
      in the fourth quarter by approximately $0.8 million or 1.8% as compared
      with the 2014 fourth quarter. Net sales during the 2015 fourth quarter
      include $6.1 million or 14.3% from the acquired Arlon business. The 2015
      fourth quarter results were favorably impacted by increases in certain
      consumer and automotive applications, which partially offset the
      continued decline in portable electronics.
    </p>
    <p>
      <u><i><b>Power Electronics Solutions (PES)</b></i></u><br>Power
      Electronics Solutions reported 2015 fourth quarter net sales of $36.7
      million, a 12.0% decrease compared to 2014 fourth quarter net sales of
      $41.6 million. Sales declined by $1.4 million or 3.4% on a currency
      neutral basis from the same quarter of the prior year. Net sales were
      unfavorably impacted by approximately $3.6 million or 8.6% due to
      fluctuations in currency exchange rates as compared with the 2014 fourth
      quarter. The 2015 fourth quarter results were favorably impacted by
      increased demand in electric and hybrid-electric vehicles and certain
      renewable energy applications, which partially offset lower demand in
      mass transit applications.
    </p>
    <p>
      <u><b>Other</b></u><br>Net sales of other products reported for the 2015
      fourth quarter were $10.0 million, an increase of 76.2% compared to 2014
      fourth quarter net sales of $5.6 million. This increase was driven by
      the acquired Arlon related sales of polyimide and thermoset epoxy
      laminate products of $4.0 million or 71.6% in the 2015 fourth quarter.
      Net sales were unfavorably impacted by approximately $0.2 million or
      3.0% due to fluctuations in currency exchange rates as compared with the
      2014 fourth quarter. As previously announced on December 21, 2015 the
      Company sold the portion of the acquired Arlon business related to the
      polyimide and thermoset epoxy laminate products reported within the
      Other business results.
    </p>
    <p>
      <u><b>Operational Highlights</b></u><br>Rogers ended 2015 with cash and
      cash equivalents of $204.6 million, a decrease of $32.8 million, or
      13.8%, from $237.4 million at December 31, 2014. In 2015, this cash
      utilization was predominantly a result of $33.4 million (net of
      financing proceeds) being deployed for the acquisition of Arlon, $40.0
      million used to fund the share repurchase program, as well as
      investments in capital expenditures of approximately $3.3 million in the
      fourth quarter and $24.8 million for the full year 2015. Net cash
      provided by operating activities was $73.9 million for 2015 compared to
      $85.2 million for 2014.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The Company reported 2015 fourth quarter gross margin of 34.4% and 36.7%
      (non-GAAP 36.9%) for the full year 2015, which compares to 39.7% for the
      2014 fourth quarter and 38.4% for the full year 2014. Operating margin
      was 8.0% for the 2015 fourth quarter and 11.9% for the full year 2015,
      compared to 10.0% for the 2014 fourth quarter and 13.3% for the full
      year 2014. Operating margin on a non-GAAP basis was 10.8% for the 2015
      fourth quarter and 13.7% for the full year 2015, compared to 14.6% for
      both the fourth quarter and full year 2014. The 2015 gross and operating
      margins were unfavorably impacted primarily by the lower organic volume
      and sales mix.
    </p>
    <p>
      The Company&#8217;s 2015 effective tax rate was 30.0%.
    </p>
    <p>
      <u><b>Share Repurchase Program</b></u><br>During the 2015 fourth
      quarter, the Company repurchased 49,273 shares at an aggregate cost
      of&#160;$2.5 million. A total of 727,573 shares were repurchased in 2015 with
      an aggregate cost of $40.0 million. The Company initiated a share
      repurchase program of up to $100.0 million of shares of the Company&#8217;s
      capital stock during the 2015 third quarter. This repurchase program was
      initiated to increase shareholder value and mitigate potentially
      dilutive effects of stock options and shares of restricted stock granted
      by the Company.
    </p>
    <p>
      <u><b>Outlook</b></u><br>Rogers projects its 2016 first quarter net
      sales will be between $148 to $156 million and earnings will be between
      $0.51 and $0.61 per diluted share and adjusted earnings will be between
      $0.72 and $0.82 per diluted share.
    </p>
    <p>
      For the full year 2016, Rogers expects capital expenditures to be
      approximately $25 million and its effective tax rate to be approximately
      30%.
    </p>
    <p>
      <u><b>Non-GAAP Financial Measures</b></u><br>This release refers to
      various non-GAAP financial measures. We believe that this information is
      useful to understanding the operating results and ongoing performance of
      our underlying businesses. Reconciliations of non-GAAP measures used in
      this release to the applicable GAAP financial measures appear at the end
      of the press release.
    </p>
    <p>
      <u><b>About Rogers Corporation</b></u><br>Rogers Corporation (NYSE:ROG)
      is a global leader in engineered materials to power, protect, and
      connect our world. With more than 180 years of materials science
      experience, Rogers delivers high-performance solutions that enable clean
      energy, internet connectivity, and safety and protection applications,
      as well as other technologies where reliability is critical. Rogers
      delivers Power Electronics Solutions for energy-efficient motor drives,
      vehicle electrification and alternative energy; Elastomeric Material
      Solutions for sealing, vibration management and impact protection in
      mobile devices, transportation interiors, industrial equipment and
      performance apparel; and Advanced Connectivity Solutions for wireless
      infrastructure, automotive safety and radar systems. Headquartered in
      Connecticut (USA), Rogers operates manufacturing facilities in the
      United States, China, Germany, Belgium, Hungary, and South Korea, with
      joint ventures and sales offices worldwide. For more information, visit&#160;<u>www.rogerscorp.com</u>.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><b>Safe Harbor Statement</b></u><br>This release contains
      forward-looking statements within the meaning of the Safe Harbor
      Provisions of the Private Securities Litigation Reform Act of 1995.
      These forward-looking statements do not constitute guarantees of future
      performance. Forward-looking statements include statements concerning
      our plans, objectives, goals, strategies, future events, future net
      sales or performance, capital expenditures, financing needs,
      restructuring, plans or intentions relating to expansions, business
      trends and other information that is not historical information. All
      forward-looking statements are based upon information available to us on
      the date of this release and are subject to risks, uncertainties and
      other factors, many of which are outside of our control, which could
      cause actual results to differ materially from the results discussed in
      the forward-looking statements. Risks that could cause such results to
      differ include: volatility within the Internet Connectivity, Clean
      Energy, and Safety and Protection megatrends on which our business is
      focused, as well as specific market and industry trends within these
      megatrends; business, economic and political conditions in the United
      States and abroad, particularly in China, South Korea, Germany, Hungary
      and Belgium, where we maintain significant manufacturing or
      administrative operations; fluctuations in foreign currency exchange
      rates; our ability to develop innovative products and have them
      incorporated into end-user products and systems; the extent to which
      end-user products and systems incorporating our products achieve
      commercial success; the ability of our sole or limited source suppliers
      to deliver certain key raw materials to us in a timely manner; intense
      global competition affecting both our existing products and products
      currently under development; failure to realize, or delays in the
      realization of, anticipated benefits of acquisitions and divestitures
      due to, among other things, the existence of unknown liabilities or
      difficulty integrating acquired businesses; our ability to attract and
      retain management and skilled technical personnel; our ability to
      protect our proprietary technology from infringement by third parties
      and/or allegations that our technology infringes third party rights;
      changes in effective tax rates or tax laws and regulations in the
      jurisdictions in which we operate; financial and restrictive covenants
      in our credit agreement, which could limit our operational and financial
      flexibility; the outcome of ongoing and future litigation, including our
      asbestos-related product liability litigation; changes in environmental
      laws and regulations applicable to our business; disruptions in, or
      breaches of, our information technology systems; asset impairment and
      restructuring charges; and changes in accounting standards promulgated
      by the Financial Accounting Standards Board and the Securities and
      Exchange Commission. The risks identified in our filings with the
      Securities and Exchange Commission, including the Company's most recent
      Annual Report on Form 10-K, could impact any forward-looking statements
      contained in this release. Rogers Corporation assumes no responsibility
      to update any forward-looking statements contained herein except as
      required by law.
    </p>
    <p style="text-align: center">
      <i><b>Additional Information and February 23, 2016 Conference Call</b></i>
    </p>
    <p>
      For more information, please contact the Company directly, via email or
      visit the Rogers website.
    </p>
    <p>
      <i><b>Website Address:</b></i> <u>http://www.rogerscorp.com</u>
    </p>
    <p>
      A conference call to discuss 2015 fourth quarter and full year results
      will be held on Tuesday, February 23, 2016 at 9:00AM (Eastern Time).
    </p>
    <p>
      A slide presentation will be made available prior to the start of the
      call. The slide presentation can be accessed under the investor
      relations section of the Rogers Corporation website (<u>www.rogerscorp.com/ir</u>).
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The Rogers participants in the conference call will be:
    </p>
    <p>
      Bruce D. Hoechner, President and CEO<br>Janice E. Stipp, Vice President,
      Finance, CFO and Corporate Treasurer<br>Robert C. Daigle, Senior Vice
      President and CTO
    </p>
    <p>
      A Q&amp;A session will immediately follow management&#8217;s comments.
    </p>
    <p>
      <b>To participate in the conference call, please call:</b>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
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          &#160;
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          &#160;
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          &#160;
        </td>
        <td>

        </td>
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          &#160;
        </td>
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          &#160;
        </td>
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          &#160;
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          &#160;
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          &#160;
        </td>
        <td>
          &#160;
        </td>
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        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1-800-574-8929
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Toll-free in the United States
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1-973-935-8524
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Internationally
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="text-align: left; padding-left: 0.0px" valign="top">
          There is no passcode for the live teleconference.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      For playback access, please call: 1-855-859-2056 in the United States
      and 1-404-537-3406 internationally through 11:59PM (Eastern Time),
      February 29, 2016. The passcode for the audio replay is 31680653.
    </p>
    <p>
      The call will also be webcast live in a listen-only mode. The webcast
      may be accessed through links available on the Rogers Corporation
      website at <u>www.rogerscorp.com/ir</u>. Replay of the archived webcast
      will be available on the Rogers website approximately two hours
      following the webcast.
    </p>
    <p style="text-align: center">
      (Financial Statements Follow)
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
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      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

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        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td colspan="20" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><b>Condensed Consolidated Statements of Operations (Unaudited)*</b></i>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
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        <td colspan="8">

        </td>
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        </td>
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        </td>
        <td>

        </td>
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        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <b>Quarter Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <b>Year Ended</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          (DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2015</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,<br>2014
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b><br><b>2015</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,<br>2014
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>152,928</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          147,724
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>641,443</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          610,911
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Cost of sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>100,324</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          89,030
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>406,081</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          376,158
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>52,604</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58,694
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>235,362</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          234,753
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Selling general and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>33,099</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          32,965
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>131,463</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          125,244
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Research and development expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>7,198</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,619
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>27,644</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          22,878
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Restructuring and impairment charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          5,390
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          5,390
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>12,307</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,720
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>76,255</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          81,241
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: right; padding-left: 0.0px" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Equity income in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>702</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1,131
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2,890</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4,123
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest income (expense), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>(1,045</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (779
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>(4,480</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,946
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other income (expense), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>(7,088</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          180
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>(8,492</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          (1,194
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4,876</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,252
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>66,173</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          81,224
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Income tax (benefit) expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>(1,702</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          8,005
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>19,853</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          27,812
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>6,578</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          7,247
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>46,320</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          53,412
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px; padding-bottom: 4.0px" valign="top">
          Basic earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>0.37</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          0.40
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>2.52</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          2.94
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px; padding-bottom: 4.0px" valign="top">
          Diluted earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>0.37</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          0.39
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          <b>2.48</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: double; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap" valign="bottom">
          2.86
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Shares used in computing:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>17,953</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,341
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>18,371</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,177
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 20.0px; border-bottom-width: 1.0pt" valign="top">
          Diluted
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>18,056</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          18,819
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>18,680</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          18,698
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>* </b></i>The Company changed its method for inventory costs from
      last in first out (LIFO) to first in first out (FIFO), for all
      businesses using LIFO. This change is reflected for the years presented.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td colspan="13" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><b>Condensed Consolidated Statements of Financial Position
            (Unaudited)*</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          <i>(IN THOUSANDS)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31, 2015</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31, 2014
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>204,586</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          237,375
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>101,428</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          99,065
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>91,824</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          76,806
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Prepaid income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>5,058</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,586
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>9,565</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,467
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>8,245</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,827
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px" valign="top">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>8,431</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          7,048
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>429,137</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          438,174
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>178,661</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          150,420
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Investments in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>15,348</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,214
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>8,594</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          44,051
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>175,453</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          98,227
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Other intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>75,019</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,340
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>45,114</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          46,186
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px" valign="top">
          Other long term assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>5,132</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          7,823
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>932,458</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          840,435
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Liabilities and Shareholders&#8217; Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Current liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>19,851</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,020
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accrued employee benefits and compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>23,241</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          33,983
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accrued income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,621</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,103
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Current portion of lease obligation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>284</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          747
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Current portion of long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,438</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          35,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Asbestos related liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>8,245</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,827
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px" valign="top">
          Other accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>20,440</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          17,765
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>79,120</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          120,445
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Long term lease obligation
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>5,549</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            6,042
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>175,188</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          25,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Pension liability
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>12,623</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,652
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Retiree health care and life insurance benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2,185</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,768
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Asbestos related liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>48,390</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          49,718
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Non-current income tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>11,863</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,544
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>9,455</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,647
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Other long term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,503</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          338
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Capital stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>17,957</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,404
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Additional paid in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>112,017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          137,225
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>543,066</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          496,746
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px" valign="top">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>(88,458</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          (65,094
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 60.0px; padding-bottom: 2.0px" valign="top">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>584,582</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          587,281
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px" valign="middle">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>932,458</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          840,435
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>* </b></i>The Company changed its method for inventory costs from
      last in first out (LIFO) to first in first out (FIFO), for all
      businesses using LIFO. This change is reflected for the years presented.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of non-GAAP Financial Measures to the Comparable
      GAAP Measures</b></i>
    </p>
    <p>
      <i><b>Non-GAAP Financial Measures</b></i><br>Management believes
      non-GAAP information provides meaningful supplemental information
      regarding the Company&#8217;s performance by excluding certain expenses that
      are generally non-recurring or otherwise may not be indicative of the
      core business operating results. The Company believes that this
      additional financial information is useful to management and investors
      in assessing the Company&#8217;s historical performance and for planning,
      forecasting and analyzing future periods. However, non-GAAP information
      has limitations as an analytical tool and should not be considered in
      isolation from, or solely as an alternative to, financial information
      prepared in accordance with GAAP.
    </p>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Adjusted Earnings Per Diluted
      Share for the Fourth Quarter and Full Year 2015 and 2014:</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to earnings per diluted
      share.</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Earnings Per Diluted Share</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 20.0px; border-bottom-width: 1.0pt" valign="bottom">
          YTD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.37</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.48</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.39
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.86
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Environmental charge (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.11</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.11</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Severance (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.04</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.06</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Loss on sale of business (impact to OI&amp;E)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.17</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.16</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Non-recurring purchase accounting costs (impact to gross margin)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.06</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Integration costs related to Arlon, LLC (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.18</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Tax items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.03</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Acquisition costs related to Arlon, LLC
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.11
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Pension curtailment and settlement charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.18
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Expense related to a non-cash tax charge associated with the cash
          repatriation of $40 million from Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.25
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.25
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Impairment charge on write down of investment
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.01
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          Total special adjustments
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.32</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.60</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.52
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.55
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          Non-GAAP earnings less special adjustments
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.69</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>3.08</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.91
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          3.41
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Intangible amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.11</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.40</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.24
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          Non cash equity compensation
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.08</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.36</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.07
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.28
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Non-GAAP adjusted earnings per diluted share
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.88</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>3.84</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          1.04
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          3.93
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of Net Income to EBITDA for the Fourth Quarter and
      Full Year of 2015 and 2014:</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to net income.</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          (amounts in millions)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          YTD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>6.6</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>46.3</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7.3
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          53.4
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Interest
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.9
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Income tax (benefit) expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>($1.7</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>19.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          27.8
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>6.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>23.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20.2
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Intangible amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>10.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6.1
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Non cash equity compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>9.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7.5
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Environmental charge (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Severance (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Non-recurring purchase accounting costs (impact to gross margin)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Integration costs related to Arlon, LLC (impact to SG&amp;A)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Loss on sale of business (impact to OI&amp;E)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Tax items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.5</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Acquisition costs related to Arlon, LLC
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.4
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Pension curtailment and settlement charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5.2
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Impairment charge on write down of investment
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.2
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.2
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          EBITDA
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>28.2</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>132.8</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          31.2
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          125.7
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Operating Margin for the Fourth
      Quarter and Full Year of 2015 and 2014:</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to operating margin.</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          2014
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Operating Margin</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            YTD
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          GAAP operating margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>8.0</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>11.9</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            13.3
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            %
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Environmental charge
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.1</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.5</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Severance
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.7</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.3</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Integration costs related to Arlon, LLC
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.8</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Non-recurring purchase accounting costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.2</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Pension curtailment and settlement charges
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3.5
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Acquisition costs related to Arlon, LLC
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.4
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Impairment charge on write down of investment
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.1
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Total special adjustments
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>2.8</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>1.8</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          4.6
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          1.3
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Non-GAAP operating margin
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>10.8</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>13.7</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          14.6
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          14.6
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Gross Margin for Full Year 2015</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to gross margin.</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          <b>Gross Margin</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          <b>2015 YTD</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          GAAP gross margin
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>36.7</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Non-recurring purchase accounting costs
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.2</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Total adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.2</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          Non-GAAP gross margin
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>36.9</b>
        </td>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Adjusted Earnings Per Share
      Guidance for the 2016 First Quarter and Actual 2015 First Quarter:</b></i>
    </p>
    <p>
      The following table includes adjustments to earnings per diluted share.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Guidance</b><br><b>Q1 2016</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; text-align: center; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Actual<br>Q1 2015
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          GAAP Earnings Per Diluted Share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.51 - $0.61</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.72
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Intangible amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.10</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.09
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Equity compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.11</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.06
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="bottom">
          Restructuring and other discrete charges
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          0.22
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Total adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.21</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.37
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; border-bottom-color: black; padding-left: 0.0px; border-bottom-width: 1.0pt" valign="middle">
          Adjusted Earnings Per Diluted Share
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          <b>0.72 - $0.82</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap" valign="bottom">
          $
        </td>
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          1.09
        </td>
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      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br>Rogers Corporation<br><i><b>Financial News Contact:</b></i><br>Janice
      E. Stipp, 860-779-4033<br>Vice President, Finance, Chief Financial
      Officer and Corporate Treasurer<br>FAX: 860-779-5509<br>or<br><i><b>Investor
      Contact:</b></i><br>William J. Tryon, 860-779-4037<br>Director, Investor
      and Public Relations<br>FAX: 860-779-5509<br><u>william.tryon@rogerscorp.com</u>
    </p>
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