<SEC-DOCUMENT>0001157523-16-007205.txt : 20161102
<SEC-HEADER>0001157523-16-007205.hdr.sgml : 20161102
<ACCEPTANCE-DATETIME>20161102162338
ACCESSION NUMBER:		0001157523-16-007205
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161102
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161102
DATE AS OF CHANGE:		20161102

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:		161968140

	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>a51452496.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-size: 14pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 10pt; font-family: Times New Roman"><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-size: 14pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>
      Pursuant to Section 13 or 15(d) of the</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>
      Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of Earliest Event Reported):</font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>November
      2, 2016</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><br><font style="font-size: 14pt; font-family: Times New Roman"><b>ROGERS
      CORPORATION</b></font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of Registrant as specified in Charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-left:auto;margin-right:auto; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>Massachusetts</b></font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; width: 34%; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-4347</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; width: 33%; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>06-0513860</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <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 valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          <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 valign="bottom" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of Principal Executive Offices and Zip Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>(860)
      774-9605</b></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Registrant&#8217;s
      telephone number, including area code)</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>Not
      Applicable</b></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      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="text-align: center; height: 1.0 pt; width: 100%; color: #000000">
    <hr style="text-align: center; height: 1.0 pt; width: 100%; color: #000000">


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

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

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

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

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

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

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="white-space: nowrap">
      <b>Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Regulation FD Disclosure</b>
    </p>
    <p>
      In a press release dated November 2, 2016, the Company announced its
      third quarter 2016 results and provided guidance for the fourth 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
      November 3, 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
      November 2, 2016, and the Company undertakes no duty to update this
      information to reflect subsequent events, actual results or changes in
      the Company&#8217;s expectations, unless required by law.
    </p>
    <p>
      The information in Items 2.02 and 7.01 of this Form 8-K and the Exhibit
      attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18
      of the Securities Exchange Act of 1934 or otherwise subject to the
      liabilities of that section, nor shall it be deemed incorporated by
      reference in any filing under the Securities Act of 1933, except as
      shall be expressly set forth by specific reference in such filing.
    </p>
    <p>
      <b>Item 9.01 Financial Statements and Exhibits.</b>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt; font-family: Times New Roman">
      (d)&#160;&#160;Exhibits
    </p>
    <p style="white-space: nowrap">
      <u><b>Exhibit No</b></u><b>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description</u></b>
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release, dated November 2, 2016,
      issued by Rogers Corporation
    </p>
    <p style="white-space: nowrap">

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

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

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

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; width: 5%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; width: 45%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; width: 3%; padding-left: 0.0px">
          By:
        </td>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 30%; padding-left: 0.0px">
          <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 valign="top" style="text-align: left; width: 3%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <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 valign="top" style="text-align: left; width: 3%; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <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 valign="top" style="text-align: left; width: 3%; padding-left: 10.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <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 valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date: November 2, 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>a51452496ex99_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-size: 12pt; font-family: Times New Roman"><b>Rogers
      Corporation Reports Results for the 2016 Third Quarter</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        sales of $165.3 million, up 3.1%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Gross
        margin of 37.5%, up 30 basis points</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        income of $16.1 million, up 28.1%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Adjusted
        EBITDA of $34.1 million, 20.6% of net sales</b></font>
      </li>
    </ul>
    <p>
      ROGERS, Conn.--(BUSINESS WIRE)--November 2, 2016--Rogers Corporation
      (NYSE:ROG) today announced financial results for the 2016 third quarter.
    </p>
    <p>
      The Company reported net sales of $165.3 million for the 2016 third
      quarter, which exceeded the Company&#8217;s previously announced guidance of
      $150.0 to $160.0 million in net sales. In the 2015 third quarter, net
      sales were $160.4 million, which included $5.2 million of net sales from
      divested non-core assets. In addition, net sales during the 2016 third
      quarter were unfavorably impacted by $1.5 million as a result of
      currency fluctuations, primarily related to the Renminbi.
    </p>
    <p>
      Third quarter 2016 earnings were $0.88 per diluted share (includes a net
      discrete gain of $0.02 per diluted share), exceeding the Company&#8217;s
      previously announced guidance of $0.60 to $0.70 earnings per diluted
      share. Adjusted earnings per diluted share were $0.95, favorable to
      guidance. The 2015 third quarter earnings were $0.67 per diluted share
      ($0.89 adjusted earnings per diluted share). The 2016 third quarter net
      income was $16.1 million and adjusted EBITDA was $34.1 million or 20.6%
      of net sales compared to 2015 third quarter net income of $12.5 million
      and adjusted EBITDA of $32.5 million or 20.3% of net sales.
    </p>
    <p>
      The Company&#8217;s gross margin was 37.5% in the 2016 third quarter compared
      to 37.2% for the 2015 third quarter. Operating margin was 14.0% (15.2%
      adjusted operating margin) for the 2016 third quarter compared to 14.5%
      (16.6% adjusted operating margin) for the 2015 third quarter.
    </p>
    <p>
      Bruce D. Hoechner, President and CEO stated, &#8220;I was encouraged by our Q3
      2016 business performance despite challenging conditions in some of our
      markets. As we move forward, we see demand improving in a number of our
      key segments. Our commitment to market driven innovation, operational
      excellence and the diversification of our materials portfolio is
      enabling Rogers to achieve solid results as we navigate through
      uncertain global economic conditions.&#8221;
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Business Segment Discussion</b></u>
    </p>
    <p>
      <u><i><b>Advanced Connectivity Solutions (ACS)</b></i></u><br>Advanced
      Connectivity Solutions reported net sales of $65.5 million for the 2016
      third quarter, a 1.0% decrease compared to the 2015 third quarter net
      sales of $66.2 million. The 2016 third quarter results were unfavorably
      impacted by lower demand for 4G/LTE wireless telecom and aerospace and
      defense applications, which more than offset growth in automotive safety
      applications. Fluctuations in currency exchange rates unfavorably
      impacted net sales in the third quarter by $0.6 million or 0.8% as
      compared with the 2015 third quarter.
    </p>
    <p>
      <u><i><b>Elastomeric Material Solutions (EMS)</b></i></u><br>Elastomeric
      Material Solutions reported record quarterly net sales of $54.4 million
      for the 2016 third quarter, a 16.3% increase compared to 2015 third
      quarter net sales of $46.8 million. The 2016 third quarter results were
      favorably impacted by increased demand in portable electronics,
      automotive and general industrial applications, which more than offset
      lower demand in consumer and mass transit applications. Fluctuations in
      currency exchange rates unfavorably impacted net sales in the third
      quarter by $0.8 million or 1.6% as compared with the 2015 third quarter.
    </p>
    <p>
      <u><i><b>Power Electronics Solutions (PES)</b></i></u><br>Power
      Electronics Solutions reported net sales of $39.8 million for the 2016
      third quarter, an 8.8% increase compared to 2015 third quarter net sales
      of $36.6 million. The 2016 third quarter results were favorably impacted
      by increased demand in electric and hybrid electric vehicles, energy
      efficient motor drives (variable frequency drives), vehicle
      electrification and certain renewable energy applications, which more
      than offset lower demand in rail applications. Fluctuations in currency
      exchange rates unfavorably impacted net sales in the third quarter by
      $0.1 million or 0.2% as compared to the 2015 third quarter.
    </p>
    <p>
      <u><b>Other</b></u><br>The Other segment reported net sales of $5.6
      million for the 2016 third quarter, or $5.3 million less than 2015 third
      quarter net sales of $10.9 million. Approximately $5.2 million of this
      decline is related to 2015 third quarter net sales in the polyimide and
      thermoset laminate business, which the Company sold in December 2015.
      Fluctuations in currency exchange rates unfavorably impacted net sales
      in the third quarter by $0.1 million or 1.3% as compared with the 2015
      third quarter.
    </p>
    <p>
      <u><b>Operational Highlights</b></u><br>Rogers ended the 2016 third
      quarter with cash and cash equivalents of $173.5 million, a decrease of
      $31.1 million, or 15.2%, from $204.6 million at December 31, 2015
      primarily due to debt repayments, partially offset by net cash from
      operating activities. Net cash provided by operating activities was
      $94.2 million for the first nine months of 2016 compared to the $45.6
      million for the first nine months of 2015. Capital expenditures were
      $4.9 million for the 2016 third quarter and $14.9 million year-to-date.
      The Company repurchased 70,857 shares at an aggregate cost of $4.0
      million during the 2016 third quarter. Under its current share
      repurchase program of up to $100.0 million of shares, which was
      initiated in the 2015 third quarter, the Company has repurchased 868,071
      shares at an aggregate cost of $48.0 million.
    </p>
    <p>
      The Company&#8217;s 2016 third effective quarter tax rate was 32.8%.
    </p>
    <p>
      <u><b>Outlook</b></u><br>Rogers projects its 2016 fourth quarter net
      sales to be between $155.0 to $165.0 million and earnings to be between
      $0.61 and $0.71 per diluted share and adjusted earnings are expected to
      be between $0.76 and $0.86 per diluted share.
    </p>
    <p>
      For full year 2016, Rogers expects capital expenditures to be in the
      range of approximately $20.0 to $25.0 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="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u><b>About Rogers Corporation</b></u><br>Rogers Corporation (NYSE:ROG)
      is a global leader in engineered materials to power, protect, and
      connect our world. With more than 180 years of materials science
      experience, Rogers delivers high-performance solutions that enable clean
      energy, internet connectivity, and safety and protection applications,
      as well as other technologies where reliability is critical. Rogers
      delivers Power Electronics Solutions for energy-efficient motor drives,
      e-Mobility and renewable 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 Arizona (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><br>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 quarterly reports on 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="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <i><b>Additional Information and November 3, 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 third quarter results will be held on
      Thursday, November 3, 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 cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>To participate in the conference call, please call:</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 5.0px">
          There is no passcode for the live teleconference.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5">
          &#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),
      November 9, 2016. The passcode for the audio replay is 93334976.
    </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="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><b>Condensed Consolidated Statements of Operations (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Quarter Ended</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Nine Months Ended</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          (DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 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 valign="middle" colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            September 30,<br>2015
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="middle" colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 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 valign="middle" colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            September 30,<br>2015
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>165,259</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          160,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>483,314</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          488,515
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>103,330</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          100,694
        </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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>300,678</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          305,757
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>61,929</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          59,672
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>182,636</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          182,758
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Selling, general and administrative expenses
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>31,489</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            29,190
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>95,718</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            98,363
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Research and development expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>7,294</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,285
        </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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>20,916</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          20,446
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>23,146</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          23,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>66,002</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          63,949
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Equity income in unconsolidated joint ventures
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>898</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            877
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2,220</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2,187
          </p>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>676</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>320</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (1,404
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>(811</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>)</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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (1,126
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>(3,047</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>)</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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (3,435
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>23,909</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          22,192
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>65,495</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          61,297
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>7,844</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,646
        </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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>29,125</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          21,555
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>16,065</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          12,546
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>36,370</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          39,742
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <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 valign="top" colspan="3" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <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 valign="top" colspan="3" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <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 valign="top" colspan="3" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          Basic earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>0.89</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.68
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2.02</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2.15
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" 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 colspan="3" 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 colspan="3" 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 colspan="3" style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          Diluted earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>0.88</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.67
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2.00</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2.10
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,996</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,990</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,511
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 25.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>18,183</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,650
        </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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>18,217</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,885
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="10" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><b>Condensed Consolidated Statements of Financial Position
            (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(IN THOUSANDS)</i>
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>173,516</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>112,049</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>86,274</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Prepaid income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>3,511</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,365</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,959
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>392,960</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          428,665
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>172,889</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Investments in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,935</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>13,384</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>178,329</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>67,920</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Asbestos related insurance receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px">
          Other long term assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>2,550</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,501
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 35.0px">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>891,081</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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          930,355
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>28,321</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          22,251
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accrued employee benefits and compensation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>26,410</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          23,263
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,607</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,599
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Current portion of long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px">
          Other accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,942</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,324
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>94,178</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Long term lease obligation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>5,528</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Long term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>70,816</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          173,557
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Pension and post-retirement benefit obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Non-current income tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9,957</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>14,334</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>3,227</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>17,973</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Additional paid in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>114,171</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>579,436</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px">
          Accumulated other comprehensive income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>(81,737</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>)</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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (88,458
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 35.0px">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>629,843</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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          584,582
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>891,081</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 valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          930,355
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of non-GAAP Financial Measures to the Comparable
      GAAP Measures</b></i>
    </p>
    <p>
      <i><b>Non-GAAP financial measures:</b></i>
    </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 earnings per diluted share, which the Company defines as
      earnings per diluted share excluding acquisition-related amortization of
      intangible assets 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 EBITDA, which the company defines as net income excluding
      interest expense, net income tax expense, depreciation and amortization,
      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 earnings per diluted
      share, adjusted EBITDA 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>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <b>Q3 2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Q3 2015
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.88</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          -
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Restructuring, severance and other related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.01</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.02
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Tax items
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>-</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.10
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Total Discrete Items
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>($0.02)</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.12
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.86</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.79
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $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>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.95</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.89
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of Net Income to Adjusted EBITDA for the Third
      Quarter*:</b></i>
    </p>
    <p>
      The following table includes adjustments to net income.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          (amounts in millions)
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <b>Q3 2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Q3 2015
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            % of<br>Net<br>Sales
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$16.1</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>9.7%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $12.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7.8%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$7.8</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>4.7%</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6.0%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Depreciation
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>4.0%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $5.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3.7%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Amortization
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.8%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Tax item
        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>($0.9)</b>
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Restructuring, severance and other related costs
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.2</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>0.1%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.6
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.3%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Adjusted EBITDA
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$34.1</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>20.6%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $32.5
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          20.3%
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>*Percentages in table may not add due to rounding.</i>
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Operating Margin for the Third
      Quarter*:</b></i>
    </p>
    <p>
      <i>The following table includes adjustments to operating margin.</i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" colspan="6" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Operating Margin</b>
          </p>
        </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 valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Q3 2016</b>
          </p>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Q3 2015
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          GAAP operating margin
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>14.0%</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14.5%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          -
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Restructuring, severance and other related costs
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>0.1%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.3%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Total Discrete Items
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>(0.4%)</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.3%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>13.6%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          14.8%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition intangible amortization
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.8%
        </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>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Adjusted operating margin
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>15.2%</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          16.6%
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>*Percentages in table may not add due to rounding.</i>
    </p>
    <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 earnings per diluted share.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" colspan="4" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </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 valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Guidance</b><br><b>Q3 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.60 - $0.70</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Earnings Per Share Guidance for
      the 2016 Fourth Quarter:</b></i>
    </p>
    <p>
      The following table includes adjustments to the Company&#8217;s guidance for
      earnings per diluted share in the 2016 fourth quarter.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" colspan="4" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </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 valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Guidance</b><br><b>Q4 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.61 - $0.71</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Restructuring/other expenses
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.09</b>
        </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>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.76 - $0.86</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP Earnings Per Share for the 2015
      Fourth Quarter:</b></i>
    </p>
    <p>
      The following table includes adjustments to earnings per diluted share.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="bottom" colspan="4" style="text-align: left; padding-left: 10.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </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 valign="top" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Actual<br>Q4 2015
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          Net earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.37
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.04
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Loss on sale of business
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.17
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          Total Discrete Items
        </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 valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.32
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.11
        </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>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-left: 0.0px">
          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="border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-color: black; border-bottom-width: 1.0pt; border-bottom-style: solid; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.80
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
