Ceradyne CEO Expects Strong Growth in 2002
Ceradyne, Inc. CEO Joel Moskowitz, in a presentation recently at the 14th Annual Roth Capital Partners Growth Stock Conference, said that he expects Ceradyne's shipments to increase in 2002 by as much as 30-40% over 2001 levels. He attributed the projected growth to increasing strength in the company's three primary markets: lightweight ceramic armor for military applications, particularly body armor for protecting individual soldiers; ceramic orthodontic brackets; and ceramic valve train components for diesel engines. Moskowitz began with a review of the company's early focus on defense-related applications of ceramics technology and, in subsequent years, diversification into other defense applications and new sectors, such as automotive and consumer products. According to Moskowitz, over the past few years the government's decision to equip U.S. soldiers with lightweight ceramic body armor has resulted in Ceradyne being awarded a series of previously announced indefinite quantity contracts. Moskowitz stated that firm delivery orders already in hand and anticipated under these contracts are expected to materially increase the company's shipment levels in 2002 and possibly many years thereafter.
Additional information about the company can be found at http://www.ceradyne.com.