Ceradyne Expects 44% Drop for Quarter
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Ceradyne Inc., which this past year nearly doubled the size of its work force and opened a new plant in Costa Mesa, said Friday that it expects to report a 44% drop in fourth-quarter profits, but annual net income will jump nearly 60%.
The Santa Ana-based company, which makes ceramic materials used primarily by defense equipment manufacturers, is projecting net income of $94,000 for the fourth quarter, ended Dec. 31, 1984, down from earnings of $169,000 in the 1983 fourth quarter. At the same time, the company expects that its income for fiscal 1984 will be $934,000, up sharply from the annual net income of $582,000 recorded in 1983.
Sales for the fourth quarter are expected to be $3.4 million, up 36% from sales of $2.5 million in the same period last year. Ceradyne also expects to post fiscal 1984 sales of $12.8 million, more than 50% higher than 1983 sales of $8 million.
“We’re gearing up for a lot of new production,” said Steve Higgins, Ceradyne’s chief financial officer.
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