Ceradyne, Inc. Receives Four-Year SAPI Armor Contract; $29 Million Base Award For 2004.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)--Sept. 29, 2003 Ceradyne, Inc. (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced the receipt of a new four-year indefinite-quantity contract from the Department of Defense to supply 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. ) for the U.S. Army. The contract involves a base award for 2004 of approximately $29 million, with options for the following three years ranging from approximately $4 million to $14 million per year. Shipments of the base award are scheduled from February through December 2004. Joel Moskowitz, Ceradyne chief executive officer, commented: "This multi-year SAPI order is one of the largest orders of any kind received by Ceradyne and gives the Company visibility for the next four years. "The Congressional debates regarding the Administration's request for additional military funds includes $300 million for body armor Noun 1. body armor - armor that protects the wearer's whole body body armour, cataphract, coat of mail, suit of armor, suit of armour armet - a medieval helmet with a visor and a neck guard ," Moskowitz continued. "We believe this may lead to additional procurements, including the potential for substantially increasing the initial base order. As a result, we are currently expanding our manufacturing facilities in anticipation of additional orders in 2004. This award will not only contribute to further business growth but also allow us to save American lives." Ceradyne develops, manufactures and markets advanced technical ceramic This article is about ceramic materials. For the fine art, see Ceramic art. The word ceramic is derived from the Greek word κεραμικός (keramikos). 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion