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CERADYNE ANNOUNCES THIRD QUARTER RESULTS

 COSTA MESA, Calif., Nov. 3 /PRNewswire/ -- Ceradyne Inc. (NASDAQ: CRDN) announced operating results for the third quarter 1993.
 For the quarter ended Sept. 30, 1993, sales were $3,812,000 compared to $4,730,000 a year ago. The company reported a net loss of ($577,000) or ($.09) per share in the current quarter, compared with a net loss of ($494,000) or ($.08) per share in the comparable prior year period.
 For the nine months ended Sept. 30, 1993, sales were $12,056,000 compared to $13,944,000 a year ago. Net loss for the first nine months of 1993 was ($1,913,000) or ($.31) per share, vs. a net loss of ($1,574,000) or ($.26) per share in the comparable prior year period.
 The losses are attributed to lower shipping levels which are the continuing result of substantially reduced defense spending as well as a generally softer economy. Although the company expects continued losses in the short term, it anticipates that the year-to-date positive (1.10 to 1.0) book to bill ratio and reduced operating costs should result in somewhat improved results from these levels. Ceradyne's $4 million line of credit was recently renewed.
 Below is a summary of unaudited comparative results:
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Sales $3,812,000 $4,730,000 $12,056,000 $13,944,000
 Net loss ($577,000) ($494,000) ($1,913,000) ($1,574,000)
 Net loss per share ($.09) ($.08) ($.31) ($.26)
 Avg. shares
 outstanding 6,158,000 6,139,000 6,150,000 6,129,000
 -0- 11/3/93
 /CONTACT: James F. Gardner, 714-549-0421/
 (CRDN)


CO: Ceradyne Inc. ST: California IN: SU: ERN

LM-LS -- LA055 -- 0380 11/03/93 18:11 EST
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Publication:PR Newswire
Date:Nov 3, 1993
Words:298
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