- Current report filing (8-K)
June 11 2009 - 1:25PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported)
June
9, 2009
CERADYNE,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
000-13059
|
|
33-0055414
|
(State
or other Jurisdiction of Incorporation)
|
|
(Commission
File Number)
|
|
(IRS
Employer Identification No.)
|
|
|
|
3169
Red Hill Avenue, Costa Mesa, CA
|
|
92626
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
Registrant's
telephone number, including area code: (714)
549-0421
|
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:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Exhibit
Index on page 4
Item
7.01 Regulation FD Disclosure.
On June
9, 2009, Ceradyne, Inc. issued a press release announcing that it has acquired
substantially all of the business and assets and all technology and intellectual
property related to ballistic combat and non-combat helmets of Diaphorm
Technologies, LLC, based in Salem, New Hampshire. The purchase price consists of
$9.5 million in cash paid at closing, the assumption of approximately $300,000
of liabilities, plus contingent consideration not to exceed $10 million over the
next 5 years based upon performance milestones and revenues achieved during that
period from Diaphorm’s existing products and new products developed using
Diaphorm technology. Ceradyne used a portion of its existing cash for the
payment made at closing.
On June
9, 2009, Ceradyne, Inc. also issued a press release announcing that it has
revised its earnings guidance for its fiscal year ending December 31, 2009 to
approximately $0.70 per fully diluted share compared to the guidance range at
the lower end of $1.60 as provided on April 28, 2009. This revised guidance does
not include estimated pre-tax charges of between $11 to $13 million to close its
Bazet, France, manufacturing plant previously announced on May 19, 2009 or the
impact of the acquisition of the business and assets of Diaphorm Technologies,
LLC. The updated guidance reflects the impact of lower than anticipated armor
shipments and weak industrial ceramic demand caused by the continuing current
weak economic environment. Ceradyne estimates that its 2009 sales will be in the
range of $420 to $440 million compared to the prior guidance range of $465 to
$500 million also provided on April 28, 2009.
In
accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not
be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act
of 1934 or otherwise subject to the liability of that section, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of
1933.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
|
Description
|
99.1
|
Press
release dated June 9, 2009 regarding the acquisition of the business and
assets of Diaphorm Technologies, LLC.
|
99.2
|
Press
release dated June 9, 2009 regarding revised revenue and earnings
guidance.
|
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.
|
CERADYNE,
INC.
|
June
10, 2009
|
By:
|
/s/ Jerrold J. Pellizzon
|
|
|
Jerrold
J. Pellizzon
|
|
|
Chief
Financial Officer and Secretary
|
EXHIBIT
INDEX
Exhibit
Number
|
Description
|
99.1
|
Press
release dated June 9, 2009 regarding the acquisition of the business and
assets of Diaphorm Technologies, LLC.
|
99.2
|
Press
release dated June 9, 2009 regarding revised revenue and earnings
guidance.
|
Ceradyne, Inc. (MM) (NASDAQ:CRDN)
Historical Stock Chart
From Apr 2024 to May 2024
Ceradyne, Inc. (MM) (NASDAQ:CRDN)
Historical Stock Chart
From May 2023 to May 2024