CERADYNE INC. ANNOUNCES RESULTS FOR FIRST QUARTER, 1992
CERADYNE INC. ANNOUNCES RESULTS FOR FIRST QUARTER, 1992 COSTA MESA, Calif., April 14 /PRNewswire/ -- Ceradyne Inc.
(NASDAQ: CRDN) announced operating results for the first quarter, 1992.
Ceradyne reported a net loss of ($387,000) or ($.06) per share for the quarter ended March 31, 1992, compared to a net income of $64,000 or $.01 per share in the comparable prior year period. In the 1992 quarter, sales decreased to $4,785,000 from $6,296,000 one year ago. Sales declined due primarily to lower defense business and the recession. Management stated, however, that continued cost reduction measures have reduced the company's breakeven point. Management anticipates that as shipments of the company's non-defense technical ceramics such as cathodes for CRT displays and industrial ceramics increase, Ceradyne's current reduced breakeven point will facilitate improved profitability. Below is a summary of unaudited comparative results: Three Months Ended March 31, 1992 1991 Sales $4,785,000 $6,296,000 Net (loss) income ($387,000) $64,000 Net (loss) income per share ($.06) $.01 Average shares 6,138,000 6,266,000 -0- 4/14/92 /CONTACT: James F. Gardner of Ceradyne, 714-549-0421/ (CRDN) CO: Ceradyne Inc. ST: California IN: SU: ERN
AL-CH -- LA021 -- 8295 04/14/92 12:46 EDT
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|Date:||Apr 14, 1992|
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