Printer Friendly

CERADYNE INC. ANNOUNCES RESULTS FOR THIRD QUARTER

 CERADYNE INC. ANNOUNCES RESULTS FOR THIRD QUARTER
 COSTA MESA, Calif., Oct. 22 /PRNewswire/ -- Ceradyne Inc.


(NASDAQ: CRDN) announces results for the third quarter of 1992.
 For the quarter ended Sept. 30, 1992, sales were $4,730,000, compared to $5,176,000 a year ago. The company incurred a net loss of ($494,000) or ($.08) per share in the current quarter, compared with a net loss of ($246,000) or ($.04) per share in the comparable prior year period.
 For the first nine months of 1992, sales were $13,944,000, compared to $16,884,000 a year ago. Net loss for the first nine months of 1992 was ($1,573,000) or ($.26) per share, vs. a net loss of ($167,000) or ($.03) per share in the comparable prior year period.
 The reduced level of shipments was the principal cause of the lower financial results. Lower defense orders, coupled with a reduction in orders for industrial products serving markets that have been severely impacted by the recession, outweighed profits in the company's Semicon and Thermo Materials Divisions. Management continues to focus on: (1) improving markets for its structural ceramics, ceramic cathodes for television and cathode ray tubes, (2) increasing its global marketing program, and (3) continuing its cost reduction efforts. The substantial reduction in custom weapons system components will continue to put pressure on the company's operating results.
 Below is an unaudited summary of comparative results:
 CERADYNE INC.
 Financial Highlights
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Sales $4,730,000 $5,176,000 $13,944,000 $16,884,000
 Net (loss)
 income ($494,000) ($246,000) ($1,573,000) ($167,000)
 Net (loss)
 income per
 share ($.08) ($.04) ($.26) ($.03)
 Average shares 6,139,000 6,087,000 6,129,000 6,199,000
 -0- 10/22/92
 /CONTACT: James F. Gardner, CFO of Ceradyne, 714-549-0421/
 (CRDN) CO: Ceradyne Inc. ST: California IN: SU: ERN


LS-JB -- LA027 -- 3793 10/22/92 15:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 22, 1992
Words:335
Previous Article:FORTUNE BANCORP REPORTS YEAR END RESULTS
Next Article:ORIOLE HOMES REPORTS 56 PERCENT INCREASE IN THIRD QUARTER REVENUES
Topics:


Related Articles
CERADYNE ANNOUNCES RESULTS FOR THE YEAR AND FOURTH QUARTER 1991
CERADYNE INC. ANNOUNCES RESULTS FOR FIRST QUARTER, 1992
CERADYNE ANNOUNCES RESULTS
CERADYNE INC. ANNOUNCES RESULTS FOR THE YEAR AND FOURTH QUARTER 1992
CERADYNE ANNOUNCES OPERATING RESULTS FOR THE FIRST QUARTER OF 1993
CERADYNE INC. ANNOUNCES OPERATING RESULTS FOR SECOND QUARTER 1993
CERADYNE ANNOUNCES NARROWING OF LOSSES FOR FIRST QUARTER 1994
CERADYNE, INC. REPORTS HIGHER SALES AND EARNINGS TREND CONTINUE FOR THIRD QUARTER 1995
Ceradyne, Inc. (Nasdaq: CRDN) Reports Second Quarter Results
Ceradyne, Inc. Reports Third Quarter Results

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters