Ceradyne Provides Initial 2007 Guidance (6/20/06)
June 20, 2006
Ceradyne recently provided early 2007 guidance of a sales range of $665 million to $680 million with earnings of $4.25 to $4.50 per diluted share. "From time to time, Ceradyne has provided annual guidance on its expectations for future financial performance," said Joel Moskowitz, chief executive officer. "Usually, our initial annual guidance for the following year is made late in the preceding year, along with the third quarter financial results. However, we now believe that it would be helpful to the financial community if Ceradyne provided early guidance for all of 2007. Because of the early timing of this guidance, we caution the financial community that this guidance has an even greater uncertainty than Ceradyne's prior annual guidance projections. We do not now have the backlog of orders to support these projections, nor are there clear assurances we will receive sufficient orders to meet these guidance numbers. The 2007 guidance represents Ceradyne management's estimates and projections as of June 2006 as to what all of 2007 will look like from organic operations. It is based on our current understanding of 2006 and, in good part, relies on receiving continuing orders from the U.S. Army for ESAPI and ESBI (side plates)." Additional details are available through the website link below.