Ceradyne, Inc. Receives $7.1 Million SAPI Armor Order; Expedited Order for U.S. Army.Business Editors COSTA MESA Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. , Calif.--(BUSINESS WIRE)--July 17, 2003 Ceradyne, Inc. (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced today that it has been awarded a new order for approximately $7.1 million of small arms small arms, firearms designed primarily to be carried and fired by one person and, generally, held in the hands, as distinguished from heavy arms, or artillery. Early Small Arms The first small arms came into general use at the end of the 14th cent. protective inserts (SAPI (Speech API) A programming interface from Microsoft for speech recognition and synthesis. It provides a way for developers to enable their applications to receive text from and send text to voice devices. 1. ) by the Defense Supply Center Philadelphia for the U.S. Army. This new order is on an expedited basis and is scheduled to be completed before the end of 2003. Joel Moskowitz, Ceradyne chief executive officer, commented, "We expect to meet the expedited deliveries of this new SAPI order because of the additional capacity which was recently brought on stream within our 41,000 sq. ft. Irvine facility. We anticipate that this armor assembly area dedicated to SAPI will be able to not only meet this current order but future potential armor orders as well." Moskowitz further commented, "We are very pleased to receive this order. Furthermore, this order is not part of the currently pending competitive procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. for a new SAPI program, which we anticipate will be announced within the next few months." 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, certain matters discussed in this news release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions to identify forward-looking statements. These risks and uncertainties are described in the Company's prospectus dated July 1, 2003 as filed with the Securities and Exchange Commission. |
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