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Ceradyne Announces Preliminary Third Quarter Results

October 15, 2003
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Ceradyne, Inc. has announced its preliminary results for the third quarter and nine months ended September 30, 2003. Sales for the quarter almost doubled to a record $27 million, compared to $14.3 million a year ago. Sales for the nine-month period totaled a record $68 million, vs. $43.6 million in 2002. Bookings, or new orders, for the quarter increased 225% to a record $52 million, from $16 million in the third quarter of 2002. Nine-month bookings stand at a record $100 million, compared to $44.1 million for the same period in 2002. "Bookings continued at high levels, and, despite record shipments during the period, quarter-end backlog grew to more than $67 million, another company record, compared to a backlog of $28.2 million a year ago," said Joel Moskowitz, chief executive officer. "Furthermore, we are completing the acquisition of a 115,000-square-foot manufacturing plant situated on approximately six acres in Lexington, Ky., for $2.4 million. The purchase of this new facility came in under budget and is on plan to meet rising long-term demand for diesel engine components and other silicon nitride parts."

For additional information, call (714) 549-0421, ext. 262, e-mail jpellizzon@ceradyne.com or visit http://www.ceradyne.com .

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