<SEC-DOCUMENT>0001157523-17-000554.txt : 20170221
<SEC-HEADER>0001157523-17-000554.hdr.sgml : 20170221
<ACCEPTANCE-DATETIME>20170221070301
ACCESSION NUMBER:		0001157523-17-000554
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170220
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170221
DATE AS OF CHANGE:		20170221

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:		17623434

	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>a51512960.htm
<DESCRIPTION>ROGERS CORP. 8-K
<TEXT>
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    <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="width: 20%; text-align: center; color: #000000; 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>February
      20, 2017</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="font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>Massachusetts</b></font>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-4347</b>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>06-0513860</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Incorporation)
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 34%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; width: 33%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>One Technology Drive, P.O. Box
            188, Rogers, Connecticut 06263-0188</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 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-indent: 30.0px; text-align: left">
      <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="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="white-space: nowrap">
      <b>Item 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Regulation FD Disclosure</b>
    </p>
    <p>
      In a press release dated February 20, 2017, the Company announced its
      fourth quarter and fiscal year 2016 results and provided guidance for
      the first quarter of 2017.&#160;&#160;A copy of the press release is furnished
      herewith as Exhibit 99.1.&#160;&#160;The Company will also host a conference call
      and webcast on February 21, 2017 to discuss its results of operations.
    </p>
    <p>
      All information in this Form 8-K and the Exhibit attached hereto,
      including guidance or any other forward-looking statements, speaks as of
      February 20, 2017, and the Company undertakes no duty to update this
      information to reflect subsequent events, actual results or changes in
      the Company&#8217;s expectations, unless required by law.
    </p>
    <p>
      The information in Items 2.02 and 7.01 of this Form 8-K and the Exhibit
      attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18
      of the Securities Exchange Act of 1934 or otherwise subject to the
      liabilities of that section, nor shall it be deemed incorporated by
      reference in any filing under the Securities Act of 1933, except as
      shall be expressly set forth by specific reference in such filing.
    </p>
    <p>
      <b>Item 9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 14%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="text-align: left; padding-left: 80.0px; width: 86%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 14%">

        </td>
        <td style="width: 86%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 14%" valign="top">
          99.1
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 86%" valign="top">
          Press release, dated February 20, 2017, issued by Rogers Corporation
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap">

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

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

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

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

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

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

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

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

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

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

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

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

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

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

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

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

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

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Principal Financial Officer and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Principal Accounting Officer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="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 colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date: February 20, 2017
          </p>
        </td>
        <td style="width: 3%">

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

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

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

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51512960ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <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 Fourth Quarter 2016 and Full Year Results</b></font>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Fourth
      quarter 2016:</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        sales of $173.0 million, up 13.1%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Gross
        margin of 38.6%, up 420 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 $11.9 million, up 81.1%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Adjusted
        EBITDA of $32.7 million, up 24.3%</b></font>
      </li>
    </ul>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Full year
      2016:</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        sales of $656.3 million, up 2.3%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Gross
        margin of 38.0%, up 130 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 $48.3 million, up</b></font><b><font style="font-size: 12pt; font-family: Times New Roman">
        </font><font style="font-size: 12pt; font-family: Times New Roman">4.2%</font></b>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Adjusted
        EBITDA of $130.1 million, up 5.6%</b></font>
      </li>
    </ul>
    <p>
      ROGERS, Conn.--(BUSINESS WIRE)--February 20, 2017--Rogers Corporation
      (NYSE:ROG) today announced financial results for the 2016 fourth quarter
      and full year.
    </p>
    <p>
      <u><b>Fourth quarter 2016</b></u>
    </p>
    <p>
      The Company reported net sales of $173.0 million for the 2016 fourth
      quarter, which exceeded the company's previously announced guidance of
      $155 to $165 million. In the 2015 fourth quarter, net sales were $152.9
      million, which included $4.0 million from divested non-core assets. Net
      sales during the 2016 fourth quarter were unfavorably impacted by $2.2
      million as a result of currency fluctuations. Net sales and other
      financial measures discussed in this release for the fourth quarter and
      full year 2016 include results from the recently acquired DeWAL
      Industries business, which were not included in the company guidance or
      2015 results.
    </p>
    <p>
      Earnings for the 2016 fourth quarter were $0.65 per diluted share, an
      increase compared to $0.37 per diluted share in the fourth quarter of
      2015. On an adjusted basis earnings were $0.94 per diluted share, an
      increase compared to adjusted earnings of $0.80 per diluted share in the
      fourth quarter of 2015. Adjusted earnings exceeded the company's
      guidance of $0.76 to $0.86 per diluted share.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt">
      <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>
      Fourth quarter 2016 net income was $11.9 million, an increase compared
      to $6.6 million in the fourth quarter of 2015. Adjusted EBITDA was $32.7
      million for the fourth quarter of 2016, an increase as compared to $26.3
      million reported in the fourth quarter of 2015.
    </p>
    <p>
      Gross margin was 38.6% in the fourth quarter of 2016, compared to 34.4%
      in the fourth quarter of 2015. Operating margin was 10.3% in the fourth
      quarter of 2016, compared to 8.0% in the fourth quarter of 2015.
      Adjusted operating margin was 14.8% in the fourth quarter of 2016,
      compared to 12.7% in the fourth quarter of 2015.
    </p>
    <p>
      <u><b>Full year 2016</b></u>
    </p>
    <p>
      The company reported net sales of $656.3 million for the full year 2016.
      Net sales for the full year 2015 were $641.4 million, which included
      $18.6 million from divested non-core assets. Net sales during 2016 were
      unfavorably impacted by $7.8 million as a result of currency
      fluctuations. In addition, 2016 net sales were favorably impacted by
      recently acquired DeWAL Industries.
    </p>
    <p>
      Earnings for full year 2016 were $2.65 per diluted share, an increase
      compared to $2.48 per diluted share for full year 2015. On an adjusted
      basis, earnings were $3.72 per diluted share, an increase as compared to
      $3.48 for full year 2015.
    </p>
    <p>
      Full year 2016 net income was $48.3 million, an increase as compared to
      $46.3 million for full year 2015. Adjusted EBITDA was $130.1 million for
      full year 2016, an increase versus $123.2 million for full year 2015.
    </p>
    <p>
      Gross margin was 38.0% in 2016, compared to 36.7% in 2015. Operating
      margin was 12.8% for full year 2016, compared to 11.9% in the full year
      of 2015. Adjusted operating margin was 15.2% in the full year of 2016,
      compared to 15.4% in the full year of 2015.
    </p>
    <p>
      Bruce D. Hoechner, President and CEO commented, &quot;2016 was a successful
      year for Rogers, delivering improving financial results and advancing
      our strategic growth plans. We achieved solid net sales performance,
      margin expansion, earnings growth and record cash flow. In addition, we
      completed two acquisitions since November 2016 and launched a number of
      innovative, new technologies for rapidly evolving markets. We look
      forward to building upon this momentum in 2017, and we expect to deliver
      another year of strong results and strategic execution.&quot;
    </p>
    <p>
      <u><b>Business segment discussion</b></u>
    </p>
    <p>
      <u><b>Advanced Connectivity Solutions (ACS)</b></u><br>Advanced
      Connectivity Solutions reported 2016 fourth quarter net sales of $71.7
      million, a 12.4% increase compared to 2015 fourth quarter net sales of
      $63.8 million. 2016 fourth quarter net sales were unfavorably impacted
      by $0.8 million due to fluctuations in currency exchange rates. The 2016
      fourth quarter results were favorably impacted by growth in high
      frequency circuit materials for automotive advanced driver assistance
      systems, aerospace / defense, and 4G LTE applications.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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>Elastomeric Material Solutions (EMS)</b></u><br>Elastomeric
      Material Solutions reported 2016 fourth quarter net sales of $56.7
      million, a 33.3% increase compared to 2015 fourth quarter net sales of
      $42.5 million. Fluctuations in currency exchange rates unfavorably
      impacted net sales by $0.9 in the 2016 fourth quarter. The 2016 fourth
      quarter increase of 33.3% was attributable to recently acquired DeWAL
      Industries, higher demand for portable electronics, automotive and
      general industrial applications, slightly offset by lower demand for
      transit and certain consumer applications.
    </p>
    <p>
      <u><b>Power Electronics Solutions (PES)</b></u><br>Power Electronics
      Solutions reported 2016 fourth quarter net sales of $39.0 million, a
      6.3% increase compared to 2015 fourth quarter net sales of $36.7
      million. 2016 fourth quarter net sales were unfavorably impacted by $0.3
      million due to fluctuations in currency exchange rates. The 2016 fourth
      quarter increased due to demand for electric and hybrid-electric
      vehicles, variable frequency motor drives, and certain renewable energy
      applications, partially offset by lower demand in rail.
    </p>
    <p>
      <u><b>Other</b></u><br>Other reported 2016 fourth quarter net sales of
      $5.6 million, down $4.3 million dollars compared to the fourth quarter
      of 2015 sales of $10.0 million, primarily due to divested non-core asset
      sales.
    </p>
    <p>
      <u><b>Balance sheet and other highlights</b></u>
    </p>
    <p>
      <u><b>Cash position</b></u><br>Rogers ended 2016 with cash and cash
      equivalents of $227.8 million, an increase of $23.2 million from $204.6
      million at December 31, 2015.
    </p>
    <p>
      <u><b>Cash flow</b></u><br>Net cash provided from operating activities
      was $117.0 million in 2016, an increase compared to $73.9 million in
      2015. Capital spending of $18.1 million in 2016, was a decrease compared
      to $24.8 million in 2015.
    </p>
    <p>
      <u><b>Effective tax rate</b></u><br>The Company&#8217;s 2016 effective tax
      rate was 41.3%, compared to 30.0% in 2015. The higher effective rate in
      2016 was primarily related to withholding taxes on off-shore cash
      movements and a change to our assertion that certain foreign earnings
      are permanently reinvested, partially offset by benefits associated with
      an increase in the reversal of reserves for uncertain tax positions.
    </p>
    <p>
      <u><b>Debt facility</b></u><br>On February 17, 2017, Rogers entered into
      an amended and restated secured credit agreement, providing for an
      increased revolving credit facility with borrowing capacity of up to
      $450.0 million, and a $175.0 million accordion feature. All revolving
      loans are due on the five-year maturity date in February 2022.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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>Financial outlook</b></u><br>Rogers guides its 2017 first quarter
      net sales to a range of $185 to $195 million, with earnings in the range
      of $0.81 to $0.91 per diluted share, excluding purchase accounting
      related to the acquisition of Diversified Silicone Products. Adjusted
      earnings are guided to a range of $1.09 to $1.19 per diluted share.
    </p>
    <p>
      For the full year 2017, Rogers expects capital expenditures to be in a
      range of $30 to $35 million.
    </p>
    <p>
      For the full year 2017, Rogers guides its normalized effective tax rate
      to a range of 33% to 34%. The adoption of ASU 2016-9, which changed the
      GAAP reporting for stock compensation excess tax benefits, could have an
      impact on the forecasted effective tax rate provided above, depending on
      the share price on the vesting dates.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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 Connecticut (USA),
      Rogers operates manufacturing facilities in the United States, China,
      Germany, Belgium, Hungary, and South Korea, with joint ventures and
      sales offices worldwide.
    </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: failure to capitalize on, and volatility within, the
      Company's growth drivers, including internet connectivity, clean energy,
      and safety and protection, as well as specific market and industry
      trends within these growth drivers; 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 and related
      integration considerations; 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="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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>Conference call and additional information</b></i>
    </p>
    <p>
      A conference call to discuss 2016 fourth quarter and full year results
      will be held tomorrow morning on Tuesday February 21, 2017 at 9 am ET.
    </p>
    <p>
      A live webcast and slide presentation will be available under the
      investors section of <u>www.rogerscorp.com/ir</u>.
    </p>
    <p>
      <b>To participate, please dial:</b>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1-800-574-8929
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Toll-free in the United States
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: left; padding-left: 0.0px" valign="top">
          There is no passcode for the live teleconference.
        </td>
      </tr>
    </table>
    </div>
    <p>
      If you are unable to attend, a conference call playback will be
      available through February 27, 2017 at 11:59 pm ET, by dialing
      1-855-859-2056 from the United States, and 1-404-537-3406 from outside
      of the US, each with passcode 18151653.
    </p>
    <p>
      Additionally, a replay of the archived webcast will be available on the
      Rogers website approximately two hours following the webcast.
    </p>
    <p>
      <b>Additional information</b><br>Please contact the Company directly via
      email or visit the Rogers website.
    </p>
    <p>
      <b>Website address:</b> <u>http://www.rogerscorp.com</u>
    </p>
    <p style="text-align: center">
      <i>(Financial statements follow)</i>
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="4">
          &#160;
        </td>
        <td colspan="9">

        </td>
        <td colspan="3">
          &#160;
        </td>
        <td colspan="9">

        </td>
      </tr>
      <tr>
        <td colspan="25" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>Condensed Consolidated Statements of Operations (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td colspan="9" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td colspan="9" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td colspan="9" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          <b>Quarter Ended</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="9" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          <b>Year Ended</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          (DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          <b>December 31, 2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          December 31, 2015
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          <b>December 31, 2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          December 31, 2015
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>173,000</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>656,314</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>106,151</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          100,324
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>406,829</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          406,081
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>66,849</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          52,604
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>249,485</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          235,362
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>40,599</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          33,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>136,317</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          131,463
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>7,666</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,198
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>28,582</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          27,644
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>734</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>734</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>17,850</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,307
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>83,852</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          76,255
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1,926</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          702
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4,146</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>(2,108</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (7,088
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>(1,788</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (8,492
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>(883</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          (1,045
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>(3,930</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          (4,480
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>16,785</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,876
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>82,280</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          66,173
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>4,872</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          (1,702
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>33,997</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          19,853
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>11,913</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          6,578
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>48,283</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          46,320
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>0.66</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>2.68</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>0.65</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt" valign="bottom">
          <b>2.65</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>17,994</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>17,991</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,371
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="top">
          Diluted
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>18,242</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          18,056
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>18,223</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          18,680
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          <b>December 31, 2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>227,767</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>119,604</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          101,428
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>91,130</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          91,824
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,020</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,058
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,565
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>7,099</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,245
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Land held for sale
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>871</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>8,910</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          7,959
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>458,401</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          428,665
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>176,916</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          178,661
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>16,183</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,348
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>14,634</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,594
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>208,431</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          175,453
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>136,676</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          75,019
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>41,295</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          45,114
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>3,964</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>1,056,500</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          930,355
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Liabilities and Shareholders&#8217; Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>28,379</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>31,104</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          23,263
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>10,921</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,599
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>350</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          284
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,653</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>7,099</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,245
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>19,679</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          18,040
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>101,185</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          78,648
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>235,877</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          173,557
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>4,993</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,549
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>8,501</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,623
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1,992</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>44,883</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          48,390
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>6,238</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,863
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>13,883</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,455
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3,162</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,503
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>18,021</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,957
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>118,678</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          112,017
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>591,349</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          543,066
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>(92,262</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          (88,458
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>635,786</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          584,582
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>1,056,500</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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>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, non-recurring tax charges,
      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="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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 fourth quarter and full year:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>2016</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Earnings per diluted share</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          YTD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          GAAP earnings per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.65</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.65</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Restructuring, severance and other related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.02</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.12</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.13</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.03
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Environmental accrual adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.11
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Purchase accounting inventory adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.06
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Loss on sale of non-core assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.01</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.17
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.16
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="top">
          Total discrete items
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.17</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.67</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.32
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.60
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="top">
          Earnings per diluted share adjusted for discrete Items
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.82</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>3.32</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.69
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          3.08
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.12</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.40
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.94</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>3.72</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.80
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          3.48
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of net income to adjusted EBITDA for the fourth
      quarter and full year*:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="24">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="9" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>2016</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="8" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          (amounts in millions)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          YTD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net income
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>11.9</b>
        </td>
        <td>

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

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>48.3</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6.6
        </td>
        <td>

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

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          46.3
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4.5
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>34.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>7.0</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>26.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>11.2</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10.9
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Restructuring, severance and other related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.6</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.6
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Acquisition related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>3.8</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.5
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Environmental accrual adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3.2
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Purchase accounting inventory adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.6
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Loss on sale of non-core assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.2</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          4.8
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          4.8
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Adjusted EBITDA
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>32.7</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>130.1</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $26.3
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          123.2
        </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 colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <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 fourth
      quarter and full year*:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>2016</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          2015
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Operating margin</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Q4</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>YTD</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Q4
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          YTD
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          GAAP operating margin
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>10.3</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>12.8</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Restructuring, severance and other related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2.0</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.6</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>&#8212;</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>(0.1</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.5
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Purchase accounting inventory adjustment
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.5</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.1</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          &#8212;
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          0.2
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Total discrete Items
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>2.8</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>0.8</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          2.8
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          1.8
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Operating margin adjusted for discrete Items
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>13.1</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>13.6</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          10.8
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          13.7
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.7
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          Adjusted operating margin
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>14.8</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>15.2</b>
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          12.7
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          15.4
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="21" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>*Percentages in table may not add due to rounding.</i>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="21">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP earnings per share guidance for
      the 2016 fourth quarter:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Guidance</b><br><b> Q4 2016</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$0.61 - $0.71</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$0.09</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$0.76 - $0.86</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to non-GAAP earnings per share guidance for
      the 2017 first quarter:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>Guidance</b><br><b> Q1 2017</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$0.81 - $0.91</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$0.14</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$0.14</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt" valign="middle">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt" valign="bottom">
          <b>$1.09 - $1.19</b>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br><b>Investor contact:</b><br>Rogers Corporation<br>Jack
      Monti, 860-779-4037<br><u>jack.monti@rogerscorp.com</u>
    </p>
    <p>

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