Ceradyne, Inc. Reports Preliminary First Quarter 2006 Financial Results; Reaffirms Outlook for Body Armor for 2007 into 2008; T
April 12 2006 - 8:30AM
Business Wire
Ceradyne, Inc. (Nasdaq:CRDN) announced that it expects to report
first quarter 2006 sales of approximately $134 million to $136
million and earnings of approximately 88 cents to 90 cents per
diluted share, compared to first quarter 2005 sales of $69.8
million and earnings of 24 cents per diluted share. Joel Moskowitz,
Ceradyne chief executive officer, commented: "New orders during the
first quarter totaled approximately $155 million and included $115
million of new lightweight ceramic body armor, which includes some
next generation elements. The positive approximately 1.15:1 book to
bill ratio indicates increasing levels of business as we progress
through 2006." Moskowitz added: "We continue to believe that the
lightweight ceramic body armor business will remain firm through
2007 and into 2008. This belief is based on our current technology
and manufacturing capacity, recent non-binding conversations with
various governmental procurement agencies, and is always subject to
congressional approval. During our upcoming April 27, 2006,
quarterly teleconference, we will provide initial revenue guidance
and rationale for Ceradyne's 2007 armor expectations and discuss
our growing non-defense businesses. "We will also be announcing
shortly our first Ceradyne Analyst Day to be held in California
sometime in the second quarter 2006." Ceradyne develops,
manufactures and markets advanced technical ceramic products and
components for defense, industrial, automotive/diesel and
commercial applications. Additional information about the Company
can be found at www.ceradyne.com. Except for the historical
information contained herein, this news release contains
forward-looking statements regarding future events and the future
performance of Ceradyne that involve risks and uncertainties that
could cause actual results to differ materially from those
projected. Words such as "anticipates," "believes," "plans,"
"expects," "intends," "future," and similar expressions are
intended to identify forward-looking statements. These risks and
uncertainties are described in the Company's Annual Report of Form
10-K for the fiscal year ended December 31, 2005, as filed with the
Securities and Exchange Commission.
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