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CERADYNE INC. ANNOUNCES RESULTS FOR THE YEAR AND FOURTH QUARTER 1992

 COSTA MESA, Calif., March 2 /PRNewswire/ -- Ceradyne Inc. (NASDAQ: CRDN) announced results for the year and fourth quarter 1992.
 For the quarter ended Dec. 31, 1992, the company reported a net loss of ($424,000) or ($.08)/share, compared to a net loss of ($939,000) or ($.15)/share in the period ended Dec. 31, 1991. Sales for the fourth quarter were $4,783,000, compared to $5,002,000, a year ago.
 For the year ended Dec. 31, 1992, the company had a loss of ($1,997,000) or ($.33)/share, compared to a loss of ($1,105,000) or ($.18)/share for the previous year. Sales for 1992 were $18,727,000, compared to 1991's $21,886,000.
 The company stated that the loss in the fourth quarter was principally because of reduced shipments reflecting a continued depressed defense market and a reduced, recession-caused, demand for its industrial products.
 Management continues its cost reduction strategy while focusing its efforts on those niche defense markets as well as future industrial and electronic markets which it anticipates will be the base for its growth and future return to profitability. These markets include structural ceramics for automotive, wear-resistant and industrial applications, ceramic cathodes for CRT displays and projection television as well as its more traditional market areas including lightweight ceramic armor.
 Below is a summary of comparative results:
 CERADYNE INC.
 Financial Summary
 (Unaudited)
 Three Months Ended 12 Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Sales $4,783,000 $5,002,000 $18,727,000 $21,886,000
 Loss from
 operations ($550,000) ($941,000) ($2,196,000) ($1,204,000)
 Other income
 (expense) $126,000 $2,000 $199,000 $99,000
 Net loss ($424,000) ($939,000) ($1,997,000) ($1,105,000)
 Net loss per
 share ($.08) ($.15) ($.33) ($.18)
 Average shares 6,145,000 6,118,000 6,133,000 6,178,000
 Ceradyne Inc. is an advanced technical ceramic company manufacturing and marketing its ceramics for electronic, aerospace, industrial, defense and medical applications.
 -0- 3/2/93
 /CONTACT: James F. Gardner of Ceradyne, 714-549-0421/
 (CRDN)


CO: Ceradyne Inc. ST: California IN: ARO SU: ERN

MS-JL -- LA003 -- 1768 03/02/93 08:35 EST
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Publication:PR Newswire
Date:Mar 2, 1993
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