<SEC-DOCUMENT>0001157523-16-006479.txt : 20160808
<SEC-HEADER>0001157523-16-006479.hdr.sgml : 20160808
<ACCEPTANCE-DATETIME>20160808162749
ACCESSION NUMBER:		0001157523-16-006479
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160808
DATE AS OF CHANGE:		20160808

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:		161814507

	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>a51397755.htm
<DESCRIPTION>ROGERS CORPORATION 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <hr style="color: #000000; width: 100%; text-align: center; height: 2.0 pt">
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 14pt"><b>UNITED
      STATES</b></font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-family: Times New Roman; font-size: 14pt"><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="color: #000000; width: 20%; text-align: center; height: 1.0 pt">


    <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: 12pt"><b>August
      8, 2016</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><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 style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" 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="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-4347</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>06-0513860</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" 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="padding-left: 0.0px; width: 34%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" 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 style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>One Technology Drive, P.O. Box
            188, Rogers, Connecticut 06263-0188</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" 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: 12pt"><b>(860)
      774-9605</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></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-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>Not
      Applicable</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></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="width: 100%; color: #000000; height: 1.0 pt; text-align: center">
    <hr style="width: 100%; color: #000000; height: 1.0 pt; text-align: center">


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

    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

        </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;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="white-space: nowrap">

    </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 August 8, 2016, the Company announced its
      second quarter 2016 results and provided guidance for the third 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
      August 9, 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
      August 8, 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>

    </p>
    <p>
      <b>Item 9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      (d)&#160;&#160;Exhibits<br><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 15%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="padding-left: 100.0px; width: 85%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; width: 15%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 85%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press release, dated August 8, 2016, issued by Rogers Corporation
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap; margin-left: 120.0px">

    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p style="white-space: nowrap; margin-left: 120.0px">

    </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 style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="width: 5%">
          &#160;
        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" 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="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

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

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

        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" 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="padding-left: 10.0px; width: 3%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" 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="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date: August 8, 2016
          </p>
        </td>
        <td style="width: 3%">

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

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

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

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51397755ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <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 Second Quarter 2016 Results</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Second
        quarter net sales of $157.5 million, down 3.4%; substantially all of
        the decline is due to the December 2015 divestiture of certain
        non-core assets</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Second
        quarter gross margin of 38.2%, up 100 basis points</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Second
        quarter operating margin of 11.9%, down 70 basis points; adjusted
        operating margin of 13.5%, down 110 basis points</b></font>
      </li>
    </ul>
    <p>
      ROGERS, Conn.--(BUSINESS WIRE)--August 8, 2016--Rogers Corporation
      (NYSE:ROG) today announced financial results for the 2016 second quarter.
    </p>
    <p>
      The Company reported 2016 second quarter net sales of $157.5 million,
      within the Company&#8217;s previously announced guidance range. In the 2015
      second quarter, net sales were $163.1 million, which included $4.9
      million of net sales related to the polyimide and thermoset laminate
      business, which the Company sold in December 2015. Net sales were
      unfavorably impacted by $0.3 million as a result of currency
      fluctuations, primarily related to the Euro and Renminbi.
    </p>
    <p>
      2016 second quarter earnings were $0.29 per diluted share, which fell
      below the Company&#8217;s previously announced guidance range due primarily to
      a discrete tax related expense of $0.49 per diluted share (related to
      taxes associated with the Company&#8217;s repatriation of foreign earnings
      from prior years). Adjusted earnings per diluted share were $0.88, in
      line with the Company&#8217;s previously announced guidance. The 2015 second
      quarter earnings were $0.71 per diluted share ($0.77 adjusted earnings
      per diluted share). The 2016 second quarter net income was $5.4 million
      and adjusted EBITDA was $29.0 million compared to net income of $13.6
      million and adjusted EBITDA of $29.5 million for the 2015 second quarter.
    </p>
    <p>
      The Company&#8217;s gross margin was 38.2% in the 2016 second quarter compared
      to 37.2% for the 2015 second quarter resulting from operational
      excellence and cost improvement initiatives. Operating margin was 11.9%
      (13.5% adjusted operating margin) for the 2016 second quarter compared
      to 12.6% (14.6% adjusted operating margin) for the 2015 second quarter.
    </p>
    <p>
      Bruce D. Hoechner, President and CEO stated, &#8220;Rogers&#8217; Q2 net sales and
      adjusted earnings results were within our previously announced Q2
      guidance range. Our discipline around cost management and commitment to
      continuous operational improvements contributed to a gross margin of
      38.2%, an increase of 100 basis points over Q2 2015. We believe our
      actions, such as repatriating foreign earnings and investments in key
      market analyses, position us well to fulfill our strategic goals. While
      we are cautious in the near-term and expect market uncertainty to
      continue into Q3, our strategic investments will drive greater agility
      and flexibility to address fluctuations in market dynamics.&#8221;
    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Business Segment Discussion</b></u>
    </p>
    <p>
      <u><i><b>Advanced Connectivity Solutions (ACS)</b></i></u>
    </p>
    <p>
      Advanced Connectivity Solutions reported record second quarter net sales
      of $67.2 million, a 1.2% increase compared to the 2015 second quarter
      net sales of $66.4 million. Fluctuations in currency exchange rates
      unfavorably impacted net sales in the second quarter by $0.4 million or
      0.6% as compared with the 2015 second quarter. The 2016 second quarter
      results were favorably impacted by growth in sales of high frequency
      circuit materials used in automotive safety applications and 4G/LTE
      wireless telecom applications, which more than offset lower demand in
      satellite TV dish applications.
    </p>
    <p>
      <u><i><b>Elastomeric Material Solutions (EMS)</b></i></u>
    </p>
    <p>
      Elastomeric Material Solutions reported net sales of $45.8 million for
      the 2016 second quarter, a 2.7% decline compared to 2015 second quarter
      net sales of $47.0 million. Fluctuations in currency exchange rates
      unfavorably impacted net sales in the second quarter by $0.6 million or
      1.2% as compared with the 2015 second quarter. The 2016 second quarter
      results were unfavorably impacted by lower demand in general industrial
      applications (primarily in North America), mass transit and consumer
      applications. These unfavorable impacts were partially offset by growth
      in automotive and portable electronics applications.
    </p>
    <p>
      <u><i><b>Power Electronics Solutions (PES)</b></i></u>
    </p>
    <p>
      Power Electronics Solutions reported net sales of $38.4 million for the
      2016 second quarter, a 0.5% decrease compared to 2015 second quarter net
      sales of $38.5 million. Fluctuations in currency exchange rates
      favorably impacted net sales in the second quarter by $0.8 million or
      2.1% as compared to the 2015 second quarter. The 2016 second quarter
      results were unfavorably impacted by weaker demand in mass transit,
      which more than offset increased demand in energy efficient motor drives
      (variable frequency drives), certain renewable energy and vehicle
      electrification applications.
    </p>
    <p>
      <u><b>Other</b></u>
    </p>
    <p>
      The Other segment reported net sales of $6.1 million for the 2016 second
      quarter, a decrease of 44.9% compared to 2015 second quarter net sales
      of $11.1 million, which included $4.9 million of net sales related to
      the polyimide and thermoset epoxy laminate product business, which the
      Company sold in the 2015 fourth quarter. Net sales were also unfavorably
      impacted by $0.1 million, or 1.9%, due to fluctuations in currency
      exchange rates as compared with the 2015 second quarter.
    </p>
    <p>
      <u><b>Operational Highlights</b></u>
    </p>
    <p>
      Rogers ended the 2016 second quarter with cash and cash equivalents of
      $247.4 million, an increase of $42.8 million, or 20.9%, from $204.6
      million at December 31, 2015. Net cash provided by operating activities
      was $51.3 million for the first half of 2016 compared to the $22.4
      million for the first half of 2015. Capital expenditures were $5.2
      million for the 2016 second quarter and $10.0 million year-to-date. The
      Company repurchased 31,674 shares at an aggregate cost of $2.0 million
      during the 2016 second quarter. Under its current share repurchase
      program of up to $100.0 million of shares initiated in the 2015 third
      quarter, the Company has repurchased 797,214 shares at an aggregate cost
      of $44.0 million.
    </p>
    <p>
      The Company&#8217;s 2016 second quarter tax rate was 71.0%, which was
      unfavorably impacted by withholding taxes and a non-cash tax charge
      associated with the repatriation of prior years&#8217; foreign earnings.
    </p>
    <p>
      Outlook
    </p>
    <p>
      Rogers projects its 2016 third quarter net sales to be between $150 to
      $160 million and earnings to be between $0.60 and $0.70 per diluted
      share and adjusted earnings are expected to be between $0.69 and $0.79
      per diluted share.
    </p>
    <p>
      For full year 2016, Rogers expects capital expenditures to be
      approximately $25 million and its effective tax rate to be approximately
      42% (included in the rate is the repatriation of prior years&#8217; foreign
      earnings, increasing the effective tax rate by approximately 10%).
    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p>
      <u><b>About Rogers Corporation</b></u>
    </p>
    <p>
      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>
    <p>
      <u><b>Safe Harbor Statement</b></u>
    </p>
    <p>
      This release contains forward-looking statements, which may concern our
      plans, objectives, outlook, goals, strategies, future events, future net
      sales or performance, capital expenditures, financing needs, future
      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, sales or
      administrative operations; fluctuations in foreign currency exchange
      rates; research and development efforts; competitive developments;
      business development transactions; the outcome of ongoing and future
      litigation, including our asbestos-related product liability litigation;
      and changes in laws and regulations applicable to our business. For
      additional information about the risks, uncertainties and other factors
      that may affect our business, please see our most recent Annual Report
      on Form 10-K and any subsequent forms 10-Q filed with the Securities and
      Exchange Commission. Rogers Corporation assumes no responsibility to
      update any forward-looking statements contained herein except as
      required by law.
    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <i><b>Additional Information and August 9, 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 2016 second quarter results will be held on
      Tuesday, August 9, 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>
    <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>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="12" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>To participate in the conference call, please call:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          1-800-574-8929
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Toll-free in the United States
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="7" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            There is no passcode for the live teleconference.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="12">
          &#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),
      August 15, 2016. The passcode for the audio replay is 46676844.
    </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">
      <i>(Financial Statements Follow)</i>
    </p>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><b>Condensed Consolidated Statements of Operations (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="5" valign="top">
          <b>Three Months Ended</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="5" valign="top">
          <b>Six Months Ended</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="middle">
          (DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30,</b><br><b>2016</b>
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            June 30,<br>2015
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30,</b><br><b>2016</b>
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            June 30,<br>2015
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>157,489</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          163,098
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>318,056</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          328,149
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Cost of sales
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>97,290</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          102,437
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>197,349</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          205,063
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>60,199</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          60,661
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>120,707</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          123,086
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Selling, general and administrative expenses
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>34,369</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            33,026
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>64,229</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            69,173
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Research and development expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>7,074</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          7,053
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>13,622</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          13,161
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,756</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,582
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>42,856</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          40,752
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: right" valign="top">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Equity income in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>708</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          392
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>1,321</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,311
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Other income (expense), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>191</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (517)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>(356)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (646)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>(1,115)</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          (1,304)
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>(2,236)</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          (2,310)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,540</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          19,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>41,585</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,107
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>13,163</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          5,599
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>21,280</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          11,910
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>5,377</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          13,554
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>20,305</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          27,197
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Basic net earnings per share:
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>0.30</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          0.73
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>1.13</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          1.47
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Diluted net earnings per share:
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>0.29</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          0.71
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          <b>1.11</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; text-align: right" valign="bottom">
          1.43
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,007</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          18,627
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>17,986</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          18,551
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Diluted
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>18,253</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          19,056
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>18,234</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          19,003
        </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>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="7" 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 colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="middle">
          <i>(IN THOUSANDS)</i>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>June 30, 2016</b>
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31, 2015
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Assets
        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Current assets:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>247,397</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          204,586
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>109,310</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          101,428
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>88,257</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          91,824
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Prepaid income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>4,171</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,058
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          9,565
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          8,245
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>10,718</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          7,959
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>468,098</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          428,665
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>174,808</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          178,661
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Investments in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>16,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          15,348
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,820</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          8,594
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>177,067</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          175,453
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Other intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>70,313</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          75,019
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          45,114
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Other long term assets
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>3,328</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          3,501
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>970,201</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          930,355
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Liabilities and Shareholders&#8217; Equity
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Current liabilities:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>26,751</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          22,251
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accrued employee benefits and compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>25,063</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          23,263
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accrued income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>5,438</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,599
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Current portion of long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          2,966
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Asbestos related liabilities
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          8,245
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Other accrued liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>19,388</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          18,324
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>88,538</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          78,648
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Long term lease obligation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>5,510</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,549
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>171,730</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          173,557
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Pension and post-retirement benefit obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,808</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          14,808
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Asbestos related liabilities
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          48,390
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Non-current income tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>9,849</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          11,863
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,982</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          9,455
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Other long term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,201</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Shareholders&#8217; equity
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,027</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          17,957
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Additional paid in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>114,974</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          112,017
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>563,371</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          543,066
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>(83,179)</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          (88,458)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>613,193</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          584,582
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left" valign="middle">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          <b>970,201</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: right" valign="bottom">
          930,355
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

        </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>
    </p>
    <p>
      This earnings release includes the following financial measures that are
      not presented in accordance with generally accepted accounting
      principles in the United States of America (&#8220;GAAP&#8221;):
    </p>
    <p>
      (1) Adjusted EBITDA, which the company defines as net income excluding
      interest expense, net income tax expense, depreciation and amortization,
      and discrete items, such as restructuring expenses, certain costs
      associated with acquisitions, and gains or losses on asset or business
      dispositions (collectively, &#8220;Discrete Items&#8221;);
    </p>
    <p>
      (2) Adjusted earnings per diluted share, which the Company defines as
      earnings per diluted share excluding acquisition-related amortization of
      intangible assets and Discrete Items; and
    </p>
    <p>
      (3) Adjusted operating margin, which the Company defines as operating
      margin excluding acquisition-related amortization of intangible assets
      and Discrete Items.
    </p>
    <p>
      Management believes each of these measures is useful to investors
      because they allow for comparison to the Company&#8217;s performance in prior
      periods without the effect of items that, by their nature, tend to
      obscure the Company&#8217;s core operating results due to the potential
      variability across periods based on the timing, frequency and magnitude.
      As a result, management believes that adjusted EBITDA, adjusted earnings
      per diluted share and adjusted operating margin enhance the ability of
      investors to analyze trends in the Company&#8217;s business and evaluate the
      Company&#8217;s performance relative to peer companies. However, non-GAAP
      financial measures have limitations as analytical tools and should not
      be considered in isolation from, or solely as alternatives to, financial
      measures prepared in accordance with GAAP. In addition, these non-GAAP
      financial measures may differ from similarly named measures used by
      other companies. Reconciliations of the differences between these
      non-GAAP financial measures and their most directly comparable financial
      measures calculated in accordance with GAAP are set forth below.
    </p>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Earnings Per Diluted Share for
      the Second Quarter:</b></i>
    </p>
    <p>
      The following table includes adjustments to earnings per diluted share.
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          <b>Earnings Per Diluted Share</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Q2 2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="top">
          Q2 2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$0.29</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $0.71
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Tax expense related to repatriation of earnings from prior years
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$0.49</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Net favorable tax benefit
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          ($0.06)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Acquisition integration costs (impact to SG&amp;A)
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.02
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Total Discrete Items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.49</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          ($0.04)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Earnings per diluted share adjusted for Discrete Items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.78</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.67
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Acquisition intangible amortization
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $0.10
        </td>
      </tr>
      <tr>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.88</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.77
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          (amounts in millions)
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Q2 2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>% of</b><br><b>Net</b><br><b>Sales</b>
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          Q2 2015
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            % of<br>Net<br>Sales
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$5.4</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>3.4%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $13.6
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          8.3%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Interest
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$1.1</b>
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $1.3
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          0.8%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$13.2</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>8.4%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $5.5
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          3.4%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Depreciation
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>4.2%</b>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $5.7
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          3.5%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Amortization
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$2.7</b>
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $2.8
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          1.7%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Acquisition integration costs (impact to SG&amp;A)
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.6
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          0.4%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Adjusted EBITDA
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$29.0</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>18.4%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $29.5
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          18.1%
        </td>
      </tr>
      <tr>
        <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 Second
      Quarter:</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to operating margin.</i>
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          <b>Operating Margin</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>Q2 2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          Q2 2015
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          GAAP operating margin
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          12.6%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Acquisition integration costs
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          0.3%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Total Discrete Items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          0.3%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Operating margin adjusted for Discrete Items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>11.9%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          12.9%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Acquisition intangible amortization
        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          1.7%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="bottom">
          Adjusted operating margin
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>13.5%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          14.6%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Guidance</b><br><b>Q2 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="middle">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$0.72 - $0.82</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Acquisition intangible amortization
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.09</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.81 - $0.91</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Earnings Per Share Guidance for
      the 2016 Third Quarter:</b></i>
    </p>
    <p>
      The following table includes adjustments to the Company&#8217;s guidance for
      earnings per diluted share in the 2016 third quarter.
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Guidance</b><br><b>Q3 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="middle">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$0.60 - $0.70</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Acquisition intangible amortization
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.09</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <b>$0.69 - $0.79</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Actual<br>Q3 2015
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="middle">
          Net earnings per diluted share
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $0.67
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Restructuring severance charges
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: center" valign="bottom">
          $0.02
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Tax items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.10
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          Total Discrete Items
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.12
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Acquisition intangibles amortization
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.10
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: left" valign="middle">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; text-align: center" valign="bottom">
          $0.89
        </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>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
