Ceradyne, Inc. recently reported results for the fourth quarter and 12 months ended December 31, 2005. Sales for the fourth quarter 2005 increased 36.9% to a record $114.2 million from $83.4 million in the fourth quarter of 2004. Fourth quarter net income increased 82.7% to a record $16.1 million, or $.63 per diluted share, compared to net income of $8.8 million, or $.35 per diluted share, in the fourth quarter of 2004. Sales for the year ended December 31, 2005, increased to a record $368.3 million, up 70.8% from $215.6 million in 2004. Net income for the year increased to $46.8 million, or $1.86 per diluted share, on 25,107,000 average shares outstanding, from $27.6 million, or $1.12 per diluted share, on 24,598,000 average shares outstanding, for the year ended December 31, 2004. Net income for 2005 was up 69.7% over last year, and earnings per diluted share for the year increased 66.1% compared to 2004.
An archive of a recent teleconference discussing these results is available at www.ceradyne.com.