Ceradyne, Inc. Receives New Five-Year U.S. Marine Corps Ceramic Body Armor Contract; Initial Delivery Order $3.2 Million.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. -- Ceradyne, Inc. (Company) (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced the receipt of a new 60-month Indefinite Delivery/Indefinite Quantity (ID/IQ ID/IQ Indefinite Delivery/Indefinite Quantity ID/IQ Indefinite Duration/Indefinite Quantity ) U.S. Marine Corps Small Arms 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. ) light-weight ceramic body armor contract with an estimated maximum value of $41.5 million. The Company also received an initial delivery order under this contract for $3.2 million to be shipped late in 2004 through early 2005. The contract was issued by the U.S. Marine Corps, Quantico, Virginia, under U.S. Marine Corps specifications. Joel Moskowitz, Ceradyne chief executive officer, commented: "We are proud to receive this Marine SAPI contract. Under an ID/IQ equipment type contract, the government is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to purchase only certain minimum quantities. Each delivery order, such as the initial Ceradyne $3.2 million order, is issued as a release against the government's estimated maximum amount, which for this contract is $41.5 million. Therefore, follow-on business after the initial delivery order will depend on additional releases, or delivery orders, over the next five years." 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, this news release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. Other risks and uncertainties are described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2003, and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2004, as filed with the Securities and Exchange Commission. |
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