<SEC-DOCUMENT>0001157523-17-001224.txt : 20170427
<SEC-HEADER>0001157523-17-001224.hdr.sgml : 20170427
<ACCEPTANCE-DATETIME>20170427060023
ACCESSION NUMBER:		0001157523-17-001224
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170426
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170427
DATE AS OF CHANGE:		20170427

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:		17786039

	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>a51548067.htm
<DESCRIPTION>ROGERS CORPORATION 8-K
<TEXT>
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    <p style="text-align: center">
      <br>
      <font style="font-size: 14pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 14pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br>
    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 2.0 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: 10pt; font-family: Times New Roman"><b>
      Pursuant to Section 13 or 15(d) of the 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><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><b>April
      26, 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 its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-left:auto;margin-right:auto; width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Massachusetts</b></font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; width: 34%; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-4347</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; width: 33%; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>06-0513860</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of incorporation<br>or organization)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>One Technology Drive, P.O. Box 188, Rogers, Connecticut
            06263-0188</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of principal executive offices)&#160;(Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(860)
      774-9605</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
      telephone number, including area code)</font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt"><b>Not
      Applicable</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font>
    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p style="text-align: left">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c)) </font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b><br><br><br><b>Item
      7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;Regulation FD Disclosure</b>
    </p>
    <p>
      In a press release dated April 26, 2017, the Company announced its first
      quarter 2017 results and provided guidance for the second 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 April
      27, 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
      April 26, 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.<br><br><br><b>Item
      9.01 &#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt; font-family: Times New Roman">
      (d)&#160;&#160;Exhibits
    </p>
    <p style="white-space: nowrap">
      <u><b>Exhibit No</b></u><b>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description</u></b>
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release, dated April 26, 2017,
      issued by Rogers Corporation
    </p>
    <p style="white-space: nowrap">

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

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

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

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

        </div>
      </div>
    </div>
    <p>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 5%; padding-bottom: 2.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 45%; padding-bottom: 2.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 3%; padding-bottom: 2.0px; padding-left: 0.0px">
          By:
        </td>
        <td valign="top" style="text-align: left; width: 30%; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <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 valign="top" style="text-align: left; width: 3%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <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 valign="top" style="text-align: left; width: 3%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President, Finance and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

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

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

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date: April 26, 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>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51548067ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Rogers
      Corporation Reports First Quarter 2017 Results</b></font>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>First
      quarter 2017:</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        sales of $203.8 million, a record quarter, up 26.9%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Gross
        margin of 39.4%, up 170 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 $27.0 million, a record quarter, 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 $54.3 million, up 60.1%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Adjusted
        earnings of $1.68 per diluted share, up 78.7%</b></font>
      </li>
    </ul>
    <p>
      ROGERS, Conn.--(BUSINESS WIRE)--April 26, 2017--Rogers Corporation
      (NYSE:ROG) today announced financial results for the 2017 first quarter.
    </p>
    <p>
      The Company reported 2017 first quarter net sales of $203.8 million,
      which exceeded the Company's previously announced guidance of $185 to
      $195 million, as well as 2016 first quarter net sales of $160.6 million.
      Currency exchange rates unfavorably impacted 2017 first quarter net
      sales by $2.6 million.
    </p>
    <p>
      Earnings for the 2017 first quarter were $1.47 per diluted share, an
      increase compared to $0.82 per diluted share in the first quarter of
      2016. On an adjusted basis, earnings were $1.68 per diluted share, an
      increase compared to adjusted earnings of $0.94 per diluted share in the
      first quarter of 2016. Adjusted earnings exceeded the Company's guidance
      of $1.09 to $1.19 per diluted share.
    </p>
    <p>
      First quarter 2017 net income was $27.0 million, an increase compared to
      $14.9 million in the first quarter of 2016. Adjusted EBITDA was $54.3
      million for the first quarter of 2017, an increase as compared to $33.9
      million reported in the first quarter of 2016.
    </p>
    <p>
      Gross margin was 39.4% in the first quarter of 2017, compared to 37.7%
      in the first quarter of 2016. Operating margin was 19.4% in the first
      quarter of 2017, compared to 15.0% in the first quarter of 2016.
      Adjusted operating margin was 22.2% in the first quarter of 2017,
      compared to 16.9% in the first quarter of 2016.
    </p>
    <p>
      Bruce D. Hoechner, President and CEO commented, &quot;Our strong revenue
      growth in Q1 2017 was driven by increased organic sales across all our
      business units as well as exceptional sales performance by our recently
      acquired businesses. Our excellent operating discipline translated our
      sales performance to the bottom line enabling Rogers to deliver all-time
      record quarterly earnings. We are clearly benefiting from our strong
      execution of our core strategy: market driven innovation; synergistic
      M&amp;A and operating excellence to deliver shareholder value. We remain
      cautious regarding global markets given the ongoing geopolitical
      uncertainty.&quot;
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Business segment discussion</b></u>
    </p>
    <p>
      <u><b>Advanced Connectivity Solutions (ACS)</b></u>
    </p>
    <p>
      Advanced Connectivity Solutions reported 2017 first quarter net sales of
      $78.5 million, a 7.0% increase compared to 2016 first quarter net sales
      of $73.4 million. The 2017 first quarter results were largely impacted
      by growth in high frequency circuit materials for automotive advanced
      driver assistance systems and aerospace / defense, partially offset by
      lower demand for wireless 4G LTE applications. First quarter 2017 net
      sales were unfavorably impacted by $0.9 million due to fluctuations in
      currency exchange rates.
    </p>
    <p>
      <u><b>Elastomeric Material Solutions (EMS)</b></u>
    </p>
    <p>
      Elastomeric Material Solutions reported 2017 first quarter net sales of
      $76.8 million, a 65.9% increase compared to 2016 first quarter net sales
      of $46.3 million. The 2017 first quarter included $22.7 million of net
      sales from recent acquisitions. On an organic basis, EMS net sales
      increased $7.8 million, or 16.9% on higher demand for portable
      electronics, general industrial, automotive and mass transit
      applications. Fluctuations in currency exchange rates unfavorably
      impacted net sales by $0.6 million in the 2017 first quarter.
    </p>
    <p>
      <u><b>Power Electronics Solutions (PES)</b></u>
    </p>
    <p>
      Power Electronics Solutions reported 2017 first quarter net sales of
      $42.7 million, a 21.0% increase compared to 2016 first quarter net sales
      of $35.3 million. The 2017 first quarter increase was primarily due to
      broad based demand across markets, including renewable energy,
      hybrid-electric vehicles, variable frequency motor drives, and laser
      diode coolers. First quarter 2017 net sales were unfavorably impacted by
      $1.0 million due to fluctuations in currency exchange rates.
    </p>
    <p>
      <u><b>Other</b></u>
    </p>
    <p>
      Other reported 2017 first quarter net sales of $5.8 million, up $0.2
      million dollars compared to the first quarter of 2016 sales of $5.6
      million.
    </p>
    <p>
      <u><b>Balance sheet and other highlights</b></u>
    </p>
    <p>
      <u><b>Cash position</b></u>
    </p>
    <p>
      Rogers ended the first quarter of 2017 with cash and cash equivalents of
      $186.1 million, a decrease of $41.7 million from $227.8 million at
      December 31, 2016. The largest driver of the decrease in cash was an
      acquisition, completed during the 2017 first quarter, with a purchase
      price of approximately $60 million.
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Cash flow</b></u>
    </p>
    <p>
      Net cash provided from operating activities was $23.2 million in the
      2017 first quarter, a decrease compared to $26.2 million in the first
      quarter of 2016, due to incentive compensation payments and a use of
      working capital, which more than offset higher first quarter 2017 net
      income. Capital spending was $5.3 million in the 2017 first quarter, an
      increase compared to $4.8 million in the 2016 first quarter.
    </p>
    <p>
      <u><b>Effective tax rate</b></u>
    </p>
    <p>
      The 2017 first quarter effective tax rate was 32.3%, compared to 35.2%
      in the 2016 first quarter.
    </p>
    <p>
      <u><b>Financial outlook</b></u>
    </p>
    <p>
      Rogers guides its 2017 second quarter net sales to a range of $190 to
      $200 million, including an unfavorable currency exchange rate impact of
      $5.2 million versus the 2016 second quarter. Rogers guides its 2017
      second quarter earnings to a range of $0.98 to $1.08 per diluted share.
      Adjusted earnings are guided to a range of $1.16 to $1.26 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 32% to 33%.
    </p>
    <p>
      <u><b>About Rogers Corporation</b></u>
    </p>
    <p>
      Rogers Corporation (NYSE:ROG) is a global leader in engineered materials
      to power, protect, and connect our world. With more than 180 years of
      materials science experience, Rogers delivers high-performance solutions
      that enable clean energy, internet connectivity, and safety and
      protection applications, as well as other technologies where reliability
      is critical. Rogers delivers Power Electronics Solutions for
      energy-efficient motor drives, 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>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Safe Harbor Statement</b></u>
    </p>
    <p>
      This release contains forward-looking statements, which may concern our
      plans, objectives, outlook, goals, strategies, future events, future net
      sales or performance, capital expenditures, financing needs, future
      restructuring, plans or intentions relating to expansions, business
      trends and other information that is not historical information. All
      forward-looking statements are based upon information available to us on
      the date of this release and are subject to risks, uncertainties and
      other factors, many of which are outside of our control, which could
      cause actual results to differ materially from the results discussed in
      the forward-looking statements. Risks that could cause such results to
      differ include: 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="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <i><b>Conference call and additional information</b></i>
    </p>
    <p>
      A conference call to discuss 2017 first quarter results will be held
      tomorrow morning on Thursday April 27, 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="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1-800-574-8929
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Toll-free in the United States
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="7">
          There is no passcode for the live teleconference.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      If you are unable to attend, a conference call playback will be
      available through May 3, 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 98257454.
    </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>
    </p>
    <p>
      Please contact the Company directly via email or visit the Rogers
      website.
    </p>
    <p style="text-align: center">
      <i>(Financial statements follow)</i>
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>Condensed Consolidated Statements of Operations (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="middle" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="7">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          (DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 31,</b><br><b>2017</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            March 31,<br>2016
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>203,828</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          160,566
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>123,478</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          100,058
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross margin
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>80,350</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          60,508
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>34,165</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          29,860
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>6,961</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          6,549
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>725</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Gain on sale of long-lived asset
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>(942</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>39,441</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          24,099
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>1,009</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          613
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>715</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          (546
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Interest expense, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>(1,248</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          (1,121
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>39,917</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          23,045
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>12,885</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          8,117
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px" colspan="2">
          <b>27,032</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 2.25pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px" colspan="2">
          14,928
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Basic earnings per share:
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>1.50</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.83
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Diluted earnings per share:
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>1.47</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>18,056</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          17,966
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 15.0px; border-bottom-color: black; border-bottom-style: solid">
          Diluted
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>18,373</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          18,214
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>Condensed Consolidated Statements of Financial Position
            (Unaudited)</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          <i>(IN THOUSANDS)</i>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 31,</b><br><b>2017</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            December 31,<br>2016
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Assets
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>186,111</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>134,084</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>94,795</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>3,924</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Asbestos related insurance receivables
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Assets held for sale
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>1,727</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px">
          Other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>12,616</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>440,356</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>175,642</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Investments in unconsolidated joint ventures
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>16,726</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>23,480</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>228,229</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>169,579</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Asbestos related insurance receivables
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px">
          Other long term assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>6,081</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          3,964
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>1,101,388</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          1,056,500
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Liabilities and Shareholders&#8217; Equity
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>30,297</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Accrued employee benefits and compensation
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>24,696</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Accrued income taxes payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>15,506</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>356</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Current portion of long term debt
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px">
          Other accrued liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>19,162</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>97,116</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Borrowings under credit facility
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>241,188</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Long term lease obligation
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>4,962</b>
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Retiree health care and life insurance benefits
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Non-current income tax
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>6,517</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>13,463</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Other long term liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>3,527</b>
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>18,121</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Additional paid in capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>118,213</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          <b>631,113</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px">
          Accumulated other comprehensive income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>(88,208</b>
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          (92,262
        </td>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          <b>679,239</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          635,786
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>1,101,388</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to adjusted earnings per diluted share for
      the first quarter:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          2016
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Earnings per diluted share</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Q1</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Q1
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$1.47</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $0.82
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.02
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition related costs
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gain on sale of long-lived asset
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>0.05</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Loss on the sale of business
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.01
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Total discrete items
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$0.09</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          $0.03
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Earnings per diluted share adjusted for discrete Items
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$1.56</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          $0.85
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.09
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$1.68</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          $0.94
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Reconciliation of GAAP net income to adjusted EBITDA for the first
      quarter*:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="4">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="5">
          2016
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          (amounts in millions)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          <b>Q1</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid" colspan="3">
          Q1
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$27.0</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>13.2%</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          $14.9
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9.3%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          1.1
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>12.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>6.3%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          8.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          5.1%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Depreciation
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>7.2</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          6.3
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>3.3</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          2.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.6%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Restructuring, severance and other related costs
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px" colspan="2">
          0.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.4%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition related costs
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>1.2</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gain on sale of long-lived asset
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>-0.4%</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Loss on the sale of business
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>&#8212;</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px" colspan="2">
          0.2
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          0.1%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Adjusted EBITDA
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$54.3</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>26.6%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          33.9
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          21.1%
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>*Percentages in table may not add due to rounding.</i>
    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to adjusted operating margin for the first
      quarter*:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          2016
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Operating margin</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Q1</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Q1
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          GAAP operating margin
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>19.4%</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15.0%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.4%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition related costs
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gain on sale of long-lived asset
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>-0.4%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          &#8212;%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Purchase accounting inventory adjustment
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>0.8%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          &#8212;%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Total discrete Items
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>1.2%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          0.4%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Operating margin adjusted for discrete Items
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>20.6%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          15.4%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1.5%
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Adjusted operating margin
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>22.2%</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          16.9%
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>*Percentages in table may not add due to rounding.</i>
    </p>
    <p>
      <i><b>Reconciliation of GAAP to adjusted earnings per diluted share
      guidance for the 2017 first quarter:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Guidance</b><br><b>Q1 2017</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.81 - $0.91</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

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

        </div>
      </div>
    </div>
    <p>
      <i><b>Reconciliation of GAAP to adjusted earnings per diluted share
      guidance for the 2017 second quarter:</b></i>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          <b>Guidance</b><br><b> Q2 2017</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          GAAP earnings per diluted share
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.98 - $1.08</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.07</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>$0.11</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid">
          Adjusted earnings per diluted share
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; border-bottom-width: 1.0pt; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px">
          <b>$1.16 - $1.26</b>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br><b>Investor contact:</b><br>Rogers Corporation<br>Jack
      Monti, 860-779-4726<br><u>jack.monti@rogerscorp.com</u><br><u>http://www.rogerscorp.com</u>
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
