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Gross profit margin was 32.8% of net sales in the fourth quarter of 2010, compared to 27% in the same period in 2009. Sales for the 12 months ended December 31, 2010, were $402.9 million, compared with $400.6 million in the same period last year. Net income for the period was $29.3 million, compared with net income in the prior year of $8.5 million.
“We are very pleased with our fourth quarter and full year 2010 financial performance,” said Joel P. Moskowitz, president and CEO. “It allowed us to meet our 2010 guidance and laid the groundwork for continuing growth in sales and earnings for 2011.”
For additional details, visit www.ceradyne.com.