Ceramic Industry News

Ceradyne Revises Revenue and Earnings Guidance (posted 6/11/09)

June 11, 2009
/ Print / Reprints /
ShareMore
/ Text Size+

Ceradyne, Inc. recently announced revised revenue and earnings guidance for its fiscal year ending December 31, 2009, to approximately $0.70 per fully diluted share, compared to the guidance range at the lower end of $1.60 as provided on April 28, 2009. This revised guidance does not include estimated pre-tax charges of between $11 million and $13 million to close the Bazet, France, manufacturing plant or the impact of the acquisition of the business and assets of Diaphorm Technologies, LLC.

The updated guidance reflects the impact of lower-than-anticipated armor shipments and further weakened industrial ceramic demand caused by the continuing current weak economic environment. Ceradyne estimates that its 2009 sales will be in the range of $420 to $440 million, compared to the prior guidance range of $465 to $500 million also provided on April 28, 2009.

“Global economic conditions have continued to deteriorate, impacting many of our customers, as well as a number of our businesses,” said Joel P. Moskowitz, chairman, CEO and president. “In addition, body armor orders are below our previous estimates. However, we still expect good free cash flow performance for 2009. In order to better position the company in light of the current economic backdrop, we are continuing to ‘right size’ Ceradyne throughout our global operations.”

Management will conduct a conference call to discuss the revised guidance at 8:00 a.m. PDT on June 11, 2009. To participate in the teleconference, call (877) 717-3046 or (706) 634-6364 approximately 10 minutes prior to the start of the call. Interested parties may also listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. For those unable to attend, these sites will host an archive of the call. A telephone playback will be available beginning at noon PDT on June 11 through noon PDT on June 13. The playback can be accessed by calling (800) 642-1687 or (706) 645-9291 and providing conference ID 14061368.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

In-Depth Features

These articles detail innovative advanced ceramic and glass materials and technologies.

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

THE MAGAZINE

Ceramic Industry Magazine

CI April 2014 cover

2014 April

Our April issue features details on advanced materials such as ceramic matrix composites and piezoelectric ceramics, among many others. Be sure to check it out!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40