Ceramic Industry

Ceradyne Reports Preliminary Fourth Quarter and 2003 Results

January 12, 2004
Ceradyne, Inc. recently announced unaudited preliminary results for the fourth quarter and year ended December 31, 2003. Fourth quarter sales were a record $33.0 million, an increase of 87.5% from the $17.6 million in the fourth quarter of 2002. New orders for the quarter amounted to $69.5 million, also a record, representing an increase of 177.2% from the $25.1 million of new orders in the fourth quarter of 2002. For the year 2003, sales reached a record $101.3 million, 65.6% higher than the $61.2 million for 2002. New orders also hit a record $170.0 million, a 145.8% increase from $69.2 million in 2002. Backlog at the end of 2003 was at a record $104.2 million, including $1.1 million of unexercised options, an increase of 192.1% over the year-end 2002 backlog of $35.7 million, which included $1.4 million of unexercised options. Final results are expected to be released in February 2004.

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