Ceradyne, Inc. recently reported financial results for the third quarter ended September 30, 2006, including record sales and record net income. Sales for the third quarter of 2006 rose to a record $185.8 million from $94.4 million in the third quarter of 2005. Net income for third quarter 2006 increased to a record $36.9 million, or $1.34 per diluted share, compared to $13.3 million, or $0.53 per diluted share, in the third quarter of 2005.
The company also reported that it has begun work on a new plant in China. "In the past week, Ceradyne broke ground in Tianjin, China, for a wholly owned 105,000-square-foot ceramic manufacturing facility designed to meet the growing demand from within China for high-purity ceramic crucibles used in the manufacture of silicon photovoltaic solar cells," said Joel Moskowitz, president and chief executive officer. "We anticipate that this new plant will commence operations in early to mid-2007."
Additional information, including results for the first nine months of the year and an archive of a recent teleconference, is available at www.ceradyne.com