Ceradyne Inc. Expects Fourth Quarter Bookings to Exceed $15 Million, a Record for Company
21 December 2000
Ceradyne Inc. Expects Fourth Quarter Bookings to Exceed $15 Million, a Record for Company
COSTA MESA, Calif.--Dec. 21, 2000--Ceradyne Inc. (company) today said its fourth quarter bookings are expected to exceed $15 million, a record for the company, after being notified by a U.S. government agency that it would be receiving a "delivery order" for $6.7 million of military armor.The company also announced it received approximately $1 million in orders from a U.S.-friendly foreign government for lightweight ceramic armor. Both orders are for delivery in 2001.
The $6.7 million order is an additional release against an indefinite quantity six-year award originally announced in 1998. Deliveries will begin late in the first quarter of 2001 and are expected to be completed during 2001.
The above armor orders do not include any new large armor programs for which the company has submitted proposals to the U.S. government. The results of these proposals are expected early in 2001.
David Reed, Ceradyne's vice president of advanced ceramic operations, stated, "These recent significant developments validate management's earlier-announced California expansion plans."
"Furthermore," Reed continued, "it is gratifying to see years of ceramic armor development result in substantial new business."
Ceradyne develops, manufactures and markets advanced technical ceramics for industrial, electronic, defense and consumer applications. Additional information about the company can be found at www.ceradyne.com.
This press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involves risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are described in the company's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 1999, as filed with the Securities and Exchange Commission.