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CERADYNE ANNOUNCES RESULTS FOR THE YEAR AND FOURTH QUARTER 1991

 CERADYNE ANNOUNCES RESULTS FOR THE YEAR AND FOURTH QUARTER 1991
 COSTA MESA, Calif., Feb. 3 /PRNewswire/ -- Ceradyne Inc. (NASDAQ: CRDN) announced results for the year and fourth quarter 1991.
 For the quarter ended Dec. 31, 1991, the company reported a net loss of ($875,000) or ($.14)/share, compared to a net income of $63,000 or $.01/share in the period ended Dec. 31, 1990. Sales for the fourth quarter were $5,002,000, compared to $5,626,000 a year ago.
 For the year ended Dec. 31, 1991, the company had a loss of ($1,042,000) or ($.17)/share, compared to a profit of $371,000 or $.07/share for the previous year. Sales for 1991 were $21,845,000, compared to 1990's $23,131,000.
 The company stated that the loss in the fourth quarter was principally due to reduced shipments reflecting a continued depressed defense market and a reduced, recession-caused, demand for its industrial products. Furthermore, the company anticipates that 1992 will be characterized by somewhat slower defense sales and delays of its anticipated production of ceramic dispenser cathodes for HDTV and next generation CRT displays. Production cathode startup is projected out at least six months to one year due to delays in order receipts by Ceradyne's customers.
 Management stated that relatively substantial progress in new non-defense technical ceramic products, such as industrial and automotive silicon nitride applications, was not sufficient to offset the above market forces.
 Below is a summary of comparative results:
 CERADYNE INC.
 Summary of Comparative Results
 (In thousands except share data)
 Three Months Ended Twelve Months Ended,
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 (unaudited) (unaudited)
 Sales $5,002 $5,626 $21,845 $23,131
 (Loss) income from
 operations ($877) $39 ($1,141) $393
 Other income
 (expense) $2 $24 $99 ($22)
 Net (loss) income ($875) $63 ($1,042) $371
 Net (loss) income
 per share ($.14) $.01 ($.17) $.07
 Average shares 6,118,000 6,257,000 6,178,000 6,418,000
 Ceradyne Inc. is an advanced technical ceramic company manufacturing and marketing its ceramics for electronic, aerospace, industrial, defense and medical applications.
 -0- 2/3/92
 /CONTACT: James F. Gardner of Ceradyne, 714-549-0421/
 (CRDN) CO: Ceradyne Inc. ST: California IN: ARO SU: ERN


AL-JL -- LA021 -- 6256 02/03/92 14:25 EST
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Date:Feb 3, 1992
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