Ceramic Industry News

Ceradyne Reports Third Quarter, Nine Month Results

Ceradyne, Inc. recently reported financial results for the third quarter and nine months ended September 30, 2004, including record sales, record net income and record new orders. Sales for the third quarter 2004 rose 108.3% to a record $56.3 million from $27.0 million in the third quarter of 2003. Net income for the third quarter 2004 increased to a record $7.3 million, or 44 cents per diluted share, compared to net income of $3.3 million, or 21 cents per diluted share, in the third quarter of 2003. Fully diluted average shares outstanding for the third quarter were 16,466,000 compared to 15,878,000 in the same period in 2003. Sales for the nine months ended September 30, 2004, reached a record $132.2 million, up 93.5% from $68.3 million in the comparable period last year. Net income for the first nine months of 2004 increased to $18.8 million, or $1.15 per diluted share, on 16,328,000 shares, from $7.0 million, or 50 cents per diluted share, on 14,155,000 shares, for the nine month period in 2003. Net income for the nine months ended September 2004 was up 167.3% over the comparable period last year.

details and an archive of a recent conference call are available http://www.ceradyne.com.

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