<SEC-DOCUMENT>0001157523-17-002185.txt : 20170731
<SEC-HEADER>0001157523-17-002185.hdr.sgml : 20170731
<ACCEPTANCE-DATETIME>20170731164451
ACCESSION NUMBER:		0001157523-17-002185
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170731
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170731
DATE AS OF CHANGE:		20170731

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:		17993498

	BUSINESS ADDRESS:	
		STREET 1:		2225 W CHANDLER BLVD
		CITY:			CHANDLER
		STATE:			AZ
		ZIP:			85224
		BUSINESS PHONE:		480-917-6000

	MAIL ADDRESS:	
		STREET 1:		2225 W CHANDLER BLVD
		CITY:			CHANDLER
		STATE:			AZ
		ZIP:			85224
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51603967.htm
<DESCRIPTION>ROGERS CORPORATION 8-K
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><b>UNITED STATES</b></font><font style="FONT-SIZE: 14pt"><br style="FONT-SIZE: 14pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>Washington, D.C. 20549</b></font><br>
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><b>FORM 8-K</b></font><br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>CURRENT REPORT</b></font><br>
<br>
<b style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b><br>
<br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported)</font><br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>July 31, 2017</b></font><font style="FONT-SIZE: 12pt"><br style="FONT-SIZE: 12pt">
</font><br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 14pt"><b>ROGERS CORPORATION</b></font><font style="FONT-FAMILY: Times New Roman"><br style="FONT-FAMILY: Times New Roman">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</font><br>
<br>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>Massachusetts</b></font> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>1-4347</b> </p>
</td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; WIDTH: 33%; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>06-0513860</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(State or other jurisdiction of incorporation<br>
 or organization) </p>
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<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; WIDTH: 34%" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(Commission File Number) </p>
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<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; WIDTH: 33%" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(I.R.S. Employer Identification No.) </p>
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<p><br>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>2225 West Chandler Blvd., Chandler, Arizona 85224</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(Address of principal executive offices)&#160;(Zip Code) </p>
</td>
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>(</b></font><b>480) 917-6000</b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Registrant&#8217;s telephone number, including area code)</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>Not Applicable</b></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Former name or former address, if changed since last report)</font> </p>

<p style="TEXT-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>

<p>&#160;</p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Item 2.02</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Results of Operations and Financial Condition</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Item 7.01</b> </p>
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<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 87%" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Regulation FD Disclosure</b> </p>
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<p>In a press release dated July 31, 2017, the Company announced its second quarter 2017 results and provided guidance for the third 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 August 1, 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 July 31, 2017, and the Company undertakes no duty to update this information to reflect subsequent events, actual results or changes in the Company&#8217;s expectations, unless required by law. </p>

<p>The information in Items 2.02 and 7.01 of this Form 8-K and the Exhibit attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. </p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Item 9.01</b> </p>
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<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 87%" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Financial Statements and Exhibits.</b> </p>
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<p style="TEXT-INDENT: 30px; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits </p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>Exhibit No.</b></u> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>Description</b></u> </p>
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<td style="WIDTH: 87%">&#160; </td>
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<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 13%; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top">99.1 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 87%" valign="top">Press release, dated July 31, 2017, issued by Rogers Corporation </td>
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<p style="TEXT-ALIGN: center">&#160;</p>

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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SIGNATURES</font> </p>

<p style="TEXT-ALIGN: center"></p>

<p style="TEXT-ALIGN: left; TEXT-INDENT: 30px">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>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>ROGERS CORPORATION</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
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<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px; WIDTH: 4%" valign="top">By: </td>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">/s/ Janice E. Stipp </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Janice E. Stipp </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Senior Vice President, Finance and </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Chief Financial Officer </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Date: July 31, 2017 </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51603967_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
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<p style="TEXT-ALIGN: right"><b>Exhibit 99.1</b> </p>

<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Rogers Corporation Reports Second Quarter 2017 Results</b></font> </p>

<p><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Second quarter 2017 highlights, versus second quarter 2016:</b></font> </p>

<ul>
<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Net sales of $201.4 million, up 27.9%</b></font> </li>

<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Gross margin of 40.0%, a record quarter, up 180 basis points</b></font> </li>

<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Net income of $20.9 million, up 288.6%</b></font> </li>

<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Adjusted EBITDA of $46.5 million, up 60.3%</b></font> </li>

<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Earnings of $1.13 per diluted share, up 282.4%</b></font> </li>

<li style="MARGIN-BOTTOM: 10px"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Adjusted earnings of $1.33 per diluted share, up 51.1%</b></font> </li>
</ul>

<p>CHANDLER, Ariz.--(BUSINESS WIRE)--July 31, 2017--Rogers Corporation (NYSE:ROG) today announced financial results for the 2017 second quarter. </p>

<p>The Company reported 2017 second quarter net sales of $201.4 million, which exceeded the Company's previously announced guidance of $190 to $200 million, as well as 2016 second quarter net sales of $157.5 million. Currency exchange rates unfavorably impacted 2017 second quarter net sales by $3.8 million. </p>

<p>Earnings for the 2017 second quarter were $1.13 per diluted share, an increase compared to $0.29 per diluted share in the second quarter of 2016. Earnings per diluted share exceeded the Company's guidance range of $0.98 to $1.08. On an adjusted basis, earnings were $1.33 per diluted share, an increase compared to adjusted earnings of $0.88 per diluted share in the second quarter of 2016. Adjusted earnings exceeded the Company's guidance of $1.16 to $1.26 per diluted share. </p>

<p>Second quarter 2017 net income was $20.9 million, an increase compared to $5.4 million in the second quarter of 2016. Adjusted EBITDA was $46.5 million for the second quarter of 2017, an increase as compared to $29.0 million reported in the second quarter of 2016. </p>

<p>Gross margin was 40.0% in the second quarter of 2017, compared to 38.2% in the second quarter of 2016. Operating margin was 16.3% in the second quarter of 2017, compared to 11.9% in the second quarter of 2016. Adjusted operating margin was 19.1% in the second quarter of 2017, compared to 13.5% in the second quarter of 2016. </p>

<p>&#160;</p>

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<p>Bruce D. Hoechner, President and CEO commented, "The Rogers team delivered exceptional results in Q2, driven by double-digit organic sales growth across our three strategic business units, record gross margins, as well as outstanding contributions from our recent acquisitions. The foundation of our strong performance is our commitment to and execution of our growth strategy: we are in the right global markets; we are creating substantial value as we integrate our synergistic acquisitions and we continue to aggressively implement our enterprise-wide operating efficiency initiatives. While we are pleased with our performance, we believe there are significant opportunities ahead of us." </p>

<p><u><b>Business segment discussion</b></u> </p>

<p><u><b>Advanced Connectivity Solutions (ACS)</b></u><br>
 Advanced Connectivity Solutions reported 2017 second quarter net sales of $74.3 million, a 10.6% increase compared to 2016 second quarter net sales of $67.2 million. The increase in 2017 second quarter net sales was largely driven by growth in high frequency circuit materials for automotive advanced driver assistance systems (ADAS) and aerospace / defense, partially offset by lower demand for wireless 4G LTE applications. Second 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><br>
 Elastomeric Material Solutions reported 2017 second quarter net sales of $77.6 million, a 69.5% increase compared to 2016 second quarter net sales of $45.8 million. The 2017 second quarter included $22.0 million of net sales from recent acquisitions. On an organic basis, EMS net sales increased $9.8 million, or 21.5%, on higher demand for general industrial, portable electronics, automotive and mass transit applications. Fluctuations in currency exchange rates unfavorably impacted net sales by $1.0 million in the 2017 second quarter. </p>

<p><u><b>Power Electronics Solutions (PES)</b></u><br>
 Power Electronics Solutions reported 2017 second quarter net sales of $43.9 million, a 14.4% increase compared to 2016 second quarter net sales of $38.4 million. The 2017 second quarter increase was primarily due to broad based demand across markets, including laser diode coolers, renewable energy, variable frequency motor drives, electric and hybrid electric vehicles. Second quarter 2017 net sales were unfavorably impacted by $1.8 million due to fluctuations in currency exchange rates. </p>

<p><u><b>Other</b></u><br>
 Other reported 2017 second quarter net sales of $5.6 million, down $0.5 million compared to the second quarter of 2016 sales of $6.1 million. </p>

<p>&#160;</p>

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<p><u><b>Balance sheet and other highlights</b></u> </p>

<p><u><b>Cash position</b></u><br>
 Rogers ended the second quarter of 2017 with cash and cash equivalents of $177.3 million, a decrease of $50.5 million from $227.8 million at December 31, 2016. The primary drivers of the lower cash balance were a debt paydown of approximately $50.1 million in the second quarter of 2017, an acquisition completed in the first quarter of 2017 for approximately $60.0 million, partially offset by net cash provided from operating activities of $64.5 million. </p>

<p><u><b>Cash flow</b></u><br>
 Net cash provided from operating activities was $64.5 million for the first half of 2017, an increase compared to $51.3 million in the first half of 2016. The increase in net cash provided by operating activities was largely driven by higher 2017 net income, partially offset by a use of working capital. Capital spending was $9.7 million in the first half of 2017, a decrease compared to $10.0 million in the first half of 2016. </p>

<p><u><b>Effective tax rate</b></u><br>
 The 2017 second quarter effective tax rate was 33.9%, compared to 71.0% in the 2016 second quarter. The decrease was primarily due to withholding taxes on off-shore cash movements and the change in our assertion that certain foreign earnings are permanently reinvested recorded in 2016, partially offset by a decrease in reversal of reserves associated with uncertain tax positions. </p>

<p><u><b>Financial outlook</b></u><br>
 Rogers guides its 2017 third quarter net sales to a range of $193 to $203 million, including an unfavorable currency exchange rate impact of $2.2 million versus the 2016 third quarter. Rogers guides its 2017 third quarter earnings to a range of $1.14 to $1.24 per diluted share. Adjusted earnings are guided to a range of $1.20 to $1.30 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>&#160;</p>

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<p><u><b>About Rogers Corporation</b></u><br>
 Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect, and connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. </p>

<p>&#160;</p>

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<p><u><b>Safe Harbor Statement</b></u><br>
 This release contains forward-looking statements, which may concern our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: failure to capitalize on, and volatility within, the Company's growth drivers, including internet connectivity, clean energy, and safety and protection, as well as specific market and industry trends within these growth drivers; business, economic and political conditions in the United States and abroad, particularly in China, South Korea, Germany, Hungary and Belgium, where we maintain significant manufacturing, sales or administrative operations; fluctuations in foreign currency exchange rates; research and development efforts; competitive developments; business development transactions and related integration considerations; the outcome of ongoing and future litigation, including our asbestos-related product liability litigation; and changes in laws and regulations applicable to our business. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent quarterly reports on Forms 10-Q filed with the Securities and Exchange Commission. Rogers Corporation assumes no responsibility to update any forward-looking statements contained herein except as required by law. </p>

<p style="TEXT-ALIGN: center"><i><b>Conference call and additional information</b></i> </p>

<p>A conference call to discuss 2017 second quarter results will be held tomorrow morning on Tuesday August 1, 2017 at 9am 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>&#160;</p>

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<p><b>To participate, please dial:</b> </p>

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<td>&#160; </td>
<td>&#160; </td>
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<td>&#160; </td>
<td>&#160; </td>
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<tr>
<td></td>
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<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1-800-574-8929 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Toll-free in the United States </td>
</tr>

<tr>
<td></td>
<td></td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1-973-935-8524 </td>
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<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Internationally </td>
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<tr>
<td></td>
<td></td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top" colspan="4">There is no passcode for the live teleconference. </td>
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<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td>&#160; </td>
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<p>If you are unable to attend, a conference call playback will be available through August 7, 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 33539719. </p>

<p>Additionally, a replay of the archived webcast will be available on the Rogers website approximately two hours following the webcast. </p>

<p><b>Additional information</b><br>
 Please contact the Company directly via email or visit the Rogers website. </p>

<p style="TEXT-ALIGN: center"><i>(Financial statements follow)</i> </p>

<p style="TEXT-ALIGN: center">&#160;</p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><i><b>Condensed Consolidated Statements of Operations (Unaudited)</b></i> </p>
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<td>&#160; </td>
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<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="7"><b>Six Months Ended</b> </td>
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<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="middle">(DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>June 30, 2017</b> </p>
</td>
<td>&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">June 30, 2016 </p>
</td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>June 30, 2017</b> </p>
</td>
<td>&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">June 30, 2016 </p>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Net sales </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>201,424</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">157,489 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>405,252</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">318,056 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Cost of sales </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>120,878</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">97,290 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>244,356</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">197,349 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Gross margin </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>80,546</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">60,199 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>160,896</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">120,707 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Selling, general and administrative expenses </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>39,567</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">34,369 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>73,731</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">64,229 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Research and development expenses </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>7,141</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">7,074 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>14,102</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">13,622 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Restructuring charges </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>1,079</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">&#8212; </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>1,805</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">&#8212; </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Gain on sale of long-lived asset </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>&#8212;</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">&#8212; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>(942</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>)</b> </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">&#8212; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Operating income </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>32,759</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">18,756 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>72,200</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">42,856 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Equity income in unconsolidated joint ventures </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>966</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">708 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>1,976</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">1,321 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Other income (expense), net </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>(185</b> </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>)</b> </td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">191 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>530</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">(356 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Interest expense, net </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>(1,947</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>)</b> </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">(1,115 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>(3,195</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>)</b> </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">(2,236 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Income before income tax expense </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>31,593</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">18,540 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>71,511</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">41,585 </td>
<td></td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Income tax expense </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>10,697</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">13,163 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>23,583</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">21,280 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Net income </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>20,896</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">5,377 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>47,928</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">20,305 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Basic earnings per share: </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.15</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.30 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>2.65</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.13 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Diluted earnings per share: </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.13</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.29 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>2.60</b> </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.11 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Shares used in computing: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 20px" valign="top">Basic </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>18,140</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">18,007 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>18,098</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="3">17,986 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 20px" valign="top">Diluted </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>18,547</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">18,253 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>18,460</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="3">18,234 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="z611c8efd183542dca599dade567e7407" cellspacing="0">
<tr>
<td colspan="10">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="top" colspan="10">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><i><b>Condensed Consolidated Statements of Financial Position (Unaudited)</b></i> </p>
</td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="middle"><i>(IN THOUSANDS)</i> </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="middle" colspan="3"><b>June 30, 2017</b> </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="middle" colspan="3">December 31, 2016 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Assets </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 10px" valign="top">Current assets: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Cash and cash equivalents </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>177,312</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">227,767 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accounts receivable, net </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>136,993</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">119,604 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Inventories </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>102,549</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">91,130 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Prepaid income taxes </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>4,392</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">3,020 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Asbestos related insurance receivables </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>7,099</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">7,099 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Assets held for sale </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>2,741</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">871 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Other current assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>10,355</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">8,910 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total current assets </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>441,441</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">458,401 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Property, plant and equipment, net </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>173,363</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">176,916 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Investments in unconsolidated joint ventures </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>17,949</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">16,183 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Deferred income taxes </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>19,657</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">14,634 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Goodwill </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>232,247</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">208,431 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Other intangible assets </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>167,226</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">136,676 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Asbestos related insurance receivables </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>41,295</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">41,295 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Other long term assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>5,963</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">3,964 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Total assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1,099,141</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,056,500 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Liabilities and Shareholders&#8217; Equity </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Current liabilities: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accounts payable </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>35,560</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">28,379 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accrued employee benefits and compensation </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>30,433</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">31,104 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accrued income taxes payable </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>12,387</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">10,921 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Current portion of lease obligation </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>383</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">350 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Current portion of long term debt </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>&#8212;</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">3,653 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Asbestos related liabilities </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>7,099</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">7,099 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Other accrued liabilities </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>21,349</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">19,679 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total current liabilities </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>107,211</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">101,185 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Borrowings under credit facility </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>191,188</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">235,877 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Long term lease obligation </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>5,207</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">4,993 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Pension liability </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>8,501</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">8,501 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Retiree health care and life insurance benefits </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>1,510</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">1,992 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Asbestos related liabilities </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>44,883</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">44,883 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Non-current income tax </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>7,302</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">6,238 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Deferred income taxes </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>11,559</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">13,883 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Other long term liabilities </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>3,525</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">3,162 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Shareholders&#8217; equity </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Capital stock </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>18,161</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">18,021 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Additional paid in capital </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>123,575</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">118,678 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Retained earnings </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>652,009</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">591,349 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Accumulated other comprehensive income (loss) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>(75,490</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>)</b> </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">(92,262 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Total shareholders&#8217; equity </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>718,255</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2">635,786 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="middle">Total liabilities and shareholders&#8217; equity </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1,099,141</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,056,500 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

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

<p style="TEXT-ALIGN: center">&#160;</p>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</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>

<p><i><b>Reconciliation of GAAP earnings per diluted share to adjusted earnings per diluted share for the Second Quarter:</b></i> </p>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="zc8d7b1fdedae4a64bcc4329138cb823e" cellspacing="0">
<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td></td>
<td>&#160; </td>
<td></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>2017</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2016 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom"><b>Earnings per diluted share</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom"><b>Q2</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom">Q2 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">GAAP earnings per diluted share </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.13</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$0.29 </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Restructuring, severance and other related costs </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.04</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Acquisition related costs </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.03</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Tax expense related to repatriation of earnings from prior years </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>&#8212;</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.49 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total Discrete Items </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$0.07</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$0.49 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Earnings per diluted share adjusted for Discrete Items </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.20</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$0.78 </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Acquisition intangible amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.13</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.10 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Adjusted earnings per diluted share </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.33</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$0.88 </td>
</tr>

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

<p>&#160;</p>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<p><i><b>Reconciliation of GAAP net income to adjusted EBITDA for the Second Quarter*:</b></i> </p>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="z207d111f220c4b6697c1c99fb0648c52" cellspacing="0">
<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top" colspan="7">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"> </p>
</td>
</tr>

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

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom" colspan="2"><b>2017</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2016 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">(amounts in millions) </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom" colspan="2"><b>Q2</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom">Q2 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Net income </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$20.9</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$5.4 </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Interest expense, net </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.9</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.1 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Income tax expense (benefit) </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>10.7</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">13.2 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Depreciation </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>7.2</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">6.6 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>3.8</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2.7 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Restructuring, severance and other related costs </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.1</b> </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Acquisition related costs </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.9</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Adjusted EBITDA </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$46.5</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$29.0 </td>
</tr>

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

<p><i>*Percentages in table may not add due to rounding.</i> </p>

<p><i><b>Reconciliation of GAAP operating margin to adjusted operating margin for the Second Quarter*:</b></i> </p>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="zb1624f21224c433e88de550104e338b8" cellspacing="0">
<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td></td>
<td>&#160; </td>
<td></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>2017</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2016 </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom"><b>Operating margin</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom"><b>Q2</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom">Q2 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">GAAP operating margin </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>16.3%</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">11.9% </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Restructuring, severance and other related costs </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.5%</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212;% </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Acquisition related costs </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>0.5%</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212;% </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Total discrete Items </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.0%</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">&#8212;% </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Operating margin adjusted for Discrete Items </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>17.3%</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">11.9% </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Acquisition intangible amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>1.8%</b> </td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.6% </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="bottom">Adjusted operating margin </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>19.1%</b> </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">13.5% </td>
</tr>

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

<p><i>*Percentages in table may not add due to rounding.</i> </p>

<p>&#160;</p>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<p><i><b>Reconciliation of GAAP earnings per diluted share to adjusted earnings per diluted share guidance for the 2017 Second Quarter:</b></i> </p>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="ze79e22b9d89a434f946e2eea30e429a0" cellspacing="0">
<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom"><b>Guidance</b><br>
<b>Q2 2017</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="middle">GAAP earnings per diluted share </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$0.98 - $1.08</b> </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Restructuring/other Discrete Items </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$0.07</b> </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Acquisition intangible amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$0.11</b> </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="middle">Adjusted earnings per diluted share </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.16 - $1.26</b> </td>
</tr>

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

<p><i><b>Reconciliation of GAAP earnings per diluted share to adjusted earnings per diluted share guidance for the 2017 Third Quarter:</b></i> </p>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="z939f7df4d94647eca6f15c74a9516827" cellspacing="0">
<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="bottom"><b>Guidance</b><br>
<b>Q3 2017</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="middle">GAAP earnings per diluted share </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.14 - $1.24</b> </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Restructuring/other Discrete Items </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>-$0.07</b> </td>
</tr>

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

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Acquisition intangible amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$0.13</b> </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="middle">Adjusted earnings per diluted share </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom"><b>$1.20 - $1.30</b> </td>
</tr>

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

<p style="TEXT-ALIGN: center"></p>

<p>CONTACT:<br>
<b>Investor contact:</b><br>
Rogers Corporation<br>
Jack Monti, 480-917-6026<br>
<u>jack.monti@rogerscorp.com</u><br>
<u>http://www.rogerscorp.com</u> </p>
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