Ceradyne, Inc. Reports Preliminary First Quarter 2006 Financial Results; Reaffirms Outlook for Body Armor for 2007 into 2008; To Release First Quarter 2006 Financial Results April 27, 2006.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. (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced that it expects to report first quarter 2006 sales of approximately $134 million to $136 million and earnings of approximately 88 cents to 90 cents per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to first quarter 2005 sales of $69.8 million and earnings of 24 cents per diluted share. Joel Moskowitz, Ceradyne chief executive officer, commented: "New orders during the first quarter totaled approximately $155 million and included $115 million of new lightweight ceramic 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 , which includes some next generation elements. The positive approximately 1.15:1 book to bill ratio indicates increasing levels of business as we progress through 2006." Moskowitz added: "We continue to believe that the lightweight ceramic body armor business will remain firm through 2007 and into 2008. This belief is based on our current technology and manufacturing capacity, recent non-binding conversations with various governmental procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. agencies, and is always subject to congressional approval. During our upcoming April 27, 2006, quarterly teleconference, we will provide initial revenue guidance and rationale for Ceradyne's 2007 armor expectations and discuss our growing non-defense businesses. "We will also be announcing shortly our first Ceradyne Analyst Day to be held in California sometime in the second quarter 2006." 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 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. 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. These risks and uncertainties are described in the Company's Annual Report of 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, 2005, as filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion