46% Eigenkapitalrendite - KGV 2007 von ca.8 - 500 Beiträge pro Seite

[meinolf67]

Ceradyne habe ich schon länger im Auge, waren mir aber immer zu teuer.

Jetzt kamen die Q3-Zahlen, wo sie einen geringen Gewinnrückgang hatten und der Kurs hat sich fast halbiert.

Sie machen High-Tech Keramik, die z.B. für Panzerungen (das ist leider im Moment das größte Geschäftsfeld) und auch Solar Crucibles verwendet wird.

Zweiteres ist zwar noch ein sehr kleiner Geschäftsbereich, scheint aber sehr stark zu wachsen.

Für diese hochreinen Tiegel gibt es weltweit nur eine Handvoll Anbieter. Und es ist das klassische Verbrauchsmaterial. Jeder Ofen von GT Solar oder Centrotherm wird nur einmal verkauft. Aber im Betrieb benötigt man immer wieder neue Crucibles.

Habe mir heute erstmal eine kleine Position gesichert, damit ich laufend etwas genauer hinschaue. Wenn ich Vertrauen in die Entwicklung aufbauen sollte, kann ich mir auch ein post-2009 Engagement vorstellen.

Kommenden Dienstag gibt es einen Conference Call, in dem das Management den Aktionären wohl klarmachen will, dass der Kursrutsch übertrieben war.

[meinolf67]

Ceradyne to Host Teleconference ''Update'' Tuesday, November 27, 2007
Tuesday November 20, 12:07 pm ET

COSTA MESA, Calif.--(BUSINESS WIRE)--Ceradyne, Inc. (Nasdaq:CRDN - News) will host a teleconference in order to update investors on Ceradyne’s overview of both its short and longer term outlook. Ceradyne management feels that this teleconference would be helpful to answer investor questions.

We plan to cover the following:

* Reiterate our 2007 and 2008 guidance
* Comment on the status of our vehicle armor program, and the BULL™ in particular
* Comment on body armor opportunities including the Company’s outlook on XSAPI and ESAPI
* Comment on increased demand for solar related ceramic crucibles
* Comment on positive performance of Ceradyne’s two 2007 acquisitions of Minco and EaglePicher Boron
* Other non-military opportunities

Any investor or interested individual can listen to the teleconference, which is scheduled to begin at 8 a.m. PST (11 a.m. EST) on November 27, 2007. To participate in the teleconference, please call toll free 877-717-3046 (or 706-634-6364 for international callers) approximately 10 minutes prior to the above start time.

You may also listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. For those unable to attend, these web sites will host an archive of the call. A telephone playback will be available beginning at 11 a.m. PST on November 27 through 9 p.m. PST on November 29, 2007. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 25428976.

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com

[meinolf67]

Ceradyne eröffnet Tiegelfabrik in China


19.09.2007: Nach Silizium werden inzwischen auch Quarztiegel knapp. In den Behältern aus hochreinem Kieselglas erstarrt das flüssige Silizium zu Ingots, bevor es anschließend zu Wafern weiterverarbeitet wird.

© Ceradyne Tianjin Technical Ceramics

Einweihung der neuen Ceradyne-Fabrik in China


Als Antwort auf den massiven Ausbau der weltweiten Kapazitäten für Solarsilizium hat nun die im kalifornischen Costa Mesa ansässige Ceradyne Inc. ihre Produktionskapazitäten für Quarztiegel deutlich ausgebaut. Im Juli wurde im chinesischen Tianjin eine neue Fabrik in Betrieb genommen, die jährlich bis zu 30.000 dieser Tiegel herstellen kann. Produziert werden (wie bereits am Standort Atlanta im US-Bundesstaat Georgia) Standardgrößen von 720 mal 720 Millimeter Kantenlänge bei einer Höhe von 420 Millimetern – ausreichend für jeweils 16 Siliziumblöcke mit 156 Millimeter Kantenlänge.

Die chinesische Fabrik soll aber außerdem in der Lage sein, bereits die neue Generation Tiegel mit 880 Millimetern Kantenlänge zu fertigen, die dann für 25 Blöcke reichen. Zusammen mit dem Werk in Atlanta kann Ceradyne damit künftig 50.000 Tiegel pro Jahr produzieren. Diese reichen für rund 1.500 Megawatt Solarzellen, was rund einem Viertel der diesjährigen Weltproduktion entspricht. Laut Scott Higgenbottom, Produktmanager Photovoltaikanwendungen bei Ceradyne, ist der weitere Ausbau der Produktionskapazitäten bereits geplant und zwar »eher früher als später«. Denn die Tiegel aus der chinesischen Niederlassung werden seiner Vermutung nach kaum ausreichen, die gestiegene Nachfrage asiatischer Firmen zu befriedigen. Viel Auswahl haben diese nicht: Die auf Hochleistungskeramik spezialisierte Ceradyne Inc. ist einer von weltweit nur vier Herstellern, die die von der Photovoltaikindustrie benötigten hochreinen Quarztiegel in größerem Umfang herstellen – darunter Vesuvius France S.A., Tecnofimes Srl und Toshiba Ceramics Co. Ltd.

[meinolf67]

Boradpoint Capital is positive on Ceradyne (NASDAQ:CRDN) saying that on the scheduled business update call tomorrow, they expect the company to reiterate its initial CY08 EPS guidance of $5.60-$6.65 on revenues of $780M-$1.07B.

There has been some speculation that initial MRAP II test results may not have been positive. Their checks indicate no definitive results on this front so far. As the vehicles have already been returned to the company after the ballistic test, they expect the company to talk about the initial analysis on the test.

Firm continues to expect more body armor orders in the near term. While existing orders would take the company's current body armor shipment run-rate through the end of this year, there have been doubts about the company getting new orders to sustain this run-rate through the end of 1Q:CY08. They expect management to reiterate their confidence in upcoming body armor orders and future orders for the next-generation XSAPI body armors.

The stock currently trades at less than 8x firm's CY08 EPS estimate, which does not include any contribution from the MRAP II program. They believe this presents a strong buying opportunity. Reiterates Buy and $84 target.

[meinolf67]

Ceradyne (CRDN) is a Costa Mesa, California based company that is an integrated developer and manufacturer of advanced technical ceramic products and components for defense, industrial, automotive, electronic and medical markets.

Ceradyne's defense products include ballistic armor protection for military personnel and vehicles, and missile nose cones. They also design and make components for diesel engines, oil drilling, and surgical procedures.

After trading around near $79 as late as October 10th, Ceradyne on October 30th reported 3rd quarter earnings of $1.16 per diluted share. This was a 14.7% (or $0.20) miss according to Wall Street estimates. Ceradyne also stated that earnings for the full year would fall at the lower end of a previously announced range of $5.20 to $5.40. This has sent the stock down over 46% (Stock currently at 42.26). But at current levels, is Ceradyne now a good stock to buy? I'll give the case for and against it.
Ceradyne is a good stock to buy

Ceradyne's earnings miss was contributed in part by higher research and development costs. Ceradyne is trying to angle themselves to get a major part of next year's military expenditure for approximately 2000 next-generation armored vehicles as well as for future body-armor orders. Ceradyne hopes that their BULL combat vehicle and XSAPI body armor beats out the competition.

Right now at current earnings Ceradyne is trading at a current price to earnings (P/E) ratio of 7.8. According to some estimates, next year Ceradyne could see earnings per share [EPS] as high as 6.65 per diluted share which would give them a forward P/E of 6.4. That P/E is very low compared to its peers, thus making it a strong buy.
Ceradyne is not a good stock to buy

Ceradyne missed last quarter on earnings by 14.7%. Some people on Wall Street think that Ceradyne might not get as major of a part of the next-generation armored vehicles and body armor as expected. Since the military sales account for 77% of Ceradyne's yearly sales, not obtaining a good portion of that contract would have a negative impact on earnings.

Also some see the war winding down in Iraq, which would mean military orders would be slowing down. If military orders are down, Ceradyne's earnings will go down as well.

[meinolf67]

Zitat aus YAHOO-Board:

This portion of the business seems to have been lost in all the talk about the bull.

I spent my career in the diecasting business and the ability to effectively process molten aluminum is a huge deal. In the molten state there is a large presence of aluminum oxide which is basically what grinder wheels and sandpaper are made of. This oxide does not allow any type of metal injection where the injection unit is submerged in molten aluminum. So what you are left with in the diecast process is having to pour molten metal into a tube and push this metal into the die with a piston. This process is slow and very hard to control. Zinc diecasting on the other hand does not have this oxide problem. In the zinc process the injection unit is submerged in the molten metal and it allows for very fast and efficient injection into the mold.

At issue is aluminum is much stronger and much lighter than zinc. The industry has spent decades trying to figure out a way to diecast aluminum using the faster more efficient zinc process. Back in the 80's My company had very limited success using an injection unit made out of, guess what, ceramics. We were not smart enough to get over the technology hurdles so we abandoned the project. If Crdn can overcome these issues the market potential is huge.

Just food for thought

[meinolf67]

Ceradyne Opens First Solar Energy Ceramic-Related Factory in Tianjin, China

Ceradyne, (Nachrichten) Inc. (Nasdaq: CRDN) announced today the opening ceremonies for its new 98,000 square foot factory in Tianjin, China. This newly constructed factory will produce high purity ceramic crucibles for the forming of large polysilicon ingots for use in the manufacturing of photovoltaic silicon solar cells.

The opening ceremonies were attended by local and other officials as well as customers, vendors and key Ceradyne executives, including Ceradyne CEO and Chairman of the Board, Joel P. Moskowitz. The facility, located on Ceradyne's five-acre plot in Tianjin's Tanggu National Marine High Tech Development Zone, will supply the exact components to its Chinese photovoltaic solar cell customer base as it is currently producing in Atlanta, Georgia, where the technology was developed. The Ceradyne Tianjin facility will be run by Ceradyne Chinese executives and engineers who have been trained by U.S. based Ceradyne Thermo Materials' management for some time.

Bruce Lockhart, Ceradyne Vice President responsible for the Company's solar energy efforts, commented: “This is a very exciting event for Ceradyne and particularly for Ceradyne Thermo Materials. Only three years ago, we established a major dedicated facility in Atlanta for the development and manufacture of these high technology ceramic crucibles for sale to solar cell fabricators. This new Tianjin plant replicates the Atlanta plant, only it is much larger, to meet our Chinese customer requirements.“�

Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[meinolf67]

Habe mir heute morgen mal den CC von gestern angehört.

Sie werden in 2007 ca. 9,7 MUSD mit Crucibles umsetzen.
in 2008 erwarten sie >50 und
in 2009 >100 MUSD.

Derzeitiger Q-Umsatz ca. 180-200 MUSD.

Das Problem -wenn es denn eines ist- ist, dass fast 80% des Umsatzes aus Defense kommen. Dafür sind sie extrem profitabel bzw. niedrig bewertet.

Andererseits ist die Solargeschichte bei den covernden Analysten wohl noch gar nicht angekommen: einer fragte tatsächlich, ob es sich um Consumables handele...

So wie ich die Antwort verstanden habe, brauchen sie tatsächlich für jeden Ingot ein neues.

Auch die Al-Geschichte scheint interessant zu sein (siehe vorheriges Yahoo-Posting). Dazu gibt es eine interessante Präsentation vom Januar (Needham-Conference):

http://www.ceradyne.com/uploads/Needham%209th%20Annual%20Gro…

Nach jeder Order, die ich heute in D platziert habe, wurde der Kurs hochgezogen, bekommen habe ich nichts.

Es gibt wohl auch einen sehr hohen Short-interest. Könnte also zu einem Squeeze kommen....

Was nun tun?

Bisher habe ich fast imer, wenn ich mich schnell zu einem Kauf entschieden habe, auf die Nase bekommen.

Andererseits sieht die aktuelle Situation attraktiv aus.

Hörschwelle hilf! Oder MontPelerin, oder, oder, ...

[meinolf67]

Yesterday morning, Ceradyne (CRDN) had a conference call to provide accurate information to the marketplace as well as to give an update to current and future business ventures. Ceradyne felt that incorrect information was being let out to the marketplace in the areas of their 2007/2008 guidance as well as their body and vehicle armor contracts. The following is a summary of their conference call.
2007 - 2008 Guidance

Ceradyne reiterated their Q4 2007 and Full-Year 2008 Guidance. Their current 2008 guidance is for revenues of $780 million to $1.067 billion. The low end of the range is based on their current business units. The high end of the guidance is based on winning orders for the Bull Vehicle.
Armor Programs

Ceradyne was informed Monday they would receive a $107 million dollar release on its prior ESAPI contract to continue production until the end of May 2008.

The new ESAPI/XSAPI solicitation is due in early December. The award will be given out no later than April 1, 2008 with delivery by June 30, 2008. The 5-Year IDIQ contract fully funded is valued at 1.5 billion.

Ceradyne also mentioned it was likely to receive a significant SOCOM award. The 5-Year IDIQ contract value is in excess of 400 million.

In regards to the, Ceradyne's MRAP II Vehicle The BULL, the government is still reviewing the bid package and the decision date won't be until January, 2008. The government tested two BULL vehicles and according to Ceradyne there were no penetrations of the crew cabs of either vehicle. They are still awaiting the government report of the tests.

Ceradyne is also in negotiations with a major vehicle OEM for the first alternative LTAS light weight armor kit that will be delivered in the first quarter of next year.
Current Non-military business

Ceradyne mentioned their solar cell casting ceramic crucibles should bring in approximately $10 million 2007, $50 million in 2008, and $100 million in 2009.
This product line provides good margins and they believe this product line will be a strong one in the future.
2007 Acquistions

Ceradyne has found new proprietary use for boron isotope for applications in semiconductor area. The margins are excellent and they are only at 25% capacity.
Future Non-military business

Ceradyne is working with largest aluminm companies in the world to improve the smelting of aluminum with their ceramic technology.

Ceradyne is also working on methodology to extract high visocity oil from oil sands in Canada.
My Take on the Conference Call

It's nice to see the company do a conference call to clear up the misconceptions in the market especially since its stock price was cut in half because of many of these misconceptions.

Ceradyne's aim to diversify its revenue and client base (away from primarily military) is a good one. It's a bonus that those non-military products are high margin products.

The government report on the BULL vehicle tests will be a big catalyst for the stock. A positive report will calm down the doubters that Ceradyne won't get a portion of the MRAP II vehicle contract. A negative report will bring some doubt to the company. But with Ceradyne saying there was no damage to the vehicles, the chances of a negative report are slim.

Ceradyne's stock responded strongly yesterday finishing up $3.06 to $45.57. With some of the fear being taken out of this stock, this stock has plenty of upside in the months to come.

[meinolf67]

Ärgerlich!

Kurs geht schon mehr als 8% nach oben.

Diesmal war es ein Fehler (bisher), nicht zu kaufen.

[meinolf67]

Ceradyne Jumps After Company Says US Army Released New Funding for Bulletproof Vest Order

NEW YORK (AP) -- Shares of Ceradyne Inc., which makes ceramic products for military use, rose Wednesday after the company said it will receive additional funding to produce bulletproof vests, and is likely to receive a $400 million body armor contract.

ADVERTISEMENT
At a conference call Tuesday, Ceradyne said it received a $107 million release on a contract to make the vests, or enhanced small arms protective inserts, from the U.S. Army. The company said it will receive the funds by April 1, and deliver the vests by June 30.

Ceradyne said the new funding will help it sustain production until the start of a $1.5 billion contract that starts in June.

Morgan Joseph & Co. analyst Michael French upgraded the stock to "Buy" from "Hold" on the news, saying Ceradyne will be able to make enough products to reach his fiscal first-quarter sales estimates.

"Our main concern regarding this stock had been the company's ability to meet fiscal first quarter expectations because of a potential funding shortfall," he said.

French set a price target of $73 per share, and said Ceradyne is in good shape to meet future demand for armor from military and nonmilitary customers.

The stock gained $4.64, or 10.2 percent, to $50.22 in morning trading.

David Reed, Ceradyne's President of North American Operations, also said the company has been told it will probably get a five-year, $400 million contract from U.S. Special Operations Command.

[Hoerschwelle]

Antwort auf Beitrag Nr.: 32.600.622 von meinolf67 am 28.11.07 16:52:47

Hmmm

[meinolf67]

AP
Ceradyne Wins Bulletproof Vest Contract
Friday November 30, 8:14 am ET
Ceradyne Wins $107 Million Army Bulletproof Vest Insert Contract

COSTA MESA, Calif. (AP) -- The U.S Army has given defense supplier Ceradyne Inc. a $107 million order to supply plates for bulletproof vests, Ceradyne said Friday.

The plates, made from a ceramic compound, are inserted into the front and back of standard issue vests to increase protection.

The company will deliver the plates to the Army's Aberdeen proving ground in Maryland, where military technology is tested. The delivery is expected to run from January to May 2008.

It forms parts of an indefinite delivery/indefinite quantity contract, which will allow the Army to purchase more bulletproof plates as it requires.

The company will use its Lexington, Kentucky; Irvine, Calif. and Costa Mesa facilities to complete the order.

Ceradyne makes components for defense, industrial and commercial products.

[meinolf67]

@IDTE

Ist ein stinknormaler NASDAQ-Wert.

Da würde ich die INfolage her besser als hier in D einschätzen.

Was man alles in den SEC-Filings findet, ist schlicht enorm!

[meinolf67]

Ceradyne Gets Order for Body Armor
Wednesday December 19, 2:36 pm ET
Ceradyne Receives Order From Defense Department for Body Armor; Initial Award Covers $16.2M

COSTA MESA, Calif. (AP) -- Ceramic products maker Ceradyne Inc. said Wednesday it received a three-year order for body armor plates worth at least $22 million from a Defense Department supply center.

The agreement for the plates, known as enhanced small arms protective inserts, includes an initial order of $16.2 million. Those are due to be delivered to by the second quarter of next year.

"Based on nonbinding conversations with the government, we believe that this initial delivery order may be increased in 2008," David P. Reed, president of North American operations, said in a statement.

The contract, from the Defense Supply Center Philadelphia, covers a minimum order of $22 million and a maximum of $87 million.

Ceradyne shares jumped $3.25, or 7.2 percent, to $48.13 in afternoon trading.

[meinolf67]

Ceradyne Gives a One-Two Punch
By Rich Duprey December 20, 2007

1 Recommendation

Wednesday was a grand day to be a Ceradyne (Nasdaq: CRDN) shareholder (said the Ceradyne shareholder). You see, even big defense contractors like Boeing (NYSE: BA) or Lockheed (NYSE: LMT) call it a "good day" when they book one high-profile contract win. Yesterday, little Ceradyne landed two.

First, the headliner: Against all odds, Ceradyne's "BULL" offering has horned its way into the military's "mine resistant, ambush protected" vehicle program. In Q3, as you may recall, Ceradyne placed a sizeable wager that by increasing R&D spending to build a pair of BULLs for testing by the Army, Ceradyne and its partner, Oshkosh (NYSE: OSK), might win a place at the table when the military shifts gears into "MRAP II." It might also steal a march on current MRAP I players such as General Dynamics (NYSE: GD), Force Protection (Nasdaq: FRPT), BAE Systems, and Navistar (OTC BB: NAVZ.PK).

A bet worth making
Ceradyne incurred higher operating costs for its trouble, causing the company to "miss estimates" in Q3, and its stock suffered a sell-off. Now, though, the investment appears to be paying off. After receiving its two crash-test-dummy BULLs back from Aberdeen Proving Ground, and opining in a recent conference call that they appeared to have taken all the "explosively formed penetrators" the Army could throw at them and emerged intact, Ceradyne got its reward yesterday.

To wit, the government ordered another half-dozen BULLs for further evaluation in Q1 2008, at a total cost of $18.1 million. Granted, $18 million is just about 2.5% of what Ceradyne sells in a year. But this program could get real big, real quick. According to the firm's press release, this order is just the leading edge of "a $12.5 billion indefinite delivery/indefinite quantity (ID/IQ) contract."

Also granted, no matter how much of this IDIQ contract eventually goes toward buying BULLs, as opposed to competing MRAP II entries, Ceradyne will have to share the government largesse with its partners -- Oshkosh, which builds the BULL's chassis, and Ideal Innovation, Inc. (I-3), a private company that -- um, honestly, I'm not sure what they do, other than provide "innovative solutions for government and private industry to meet their most pressing technological, scientific, managerial and security requirements." (Presumably, this means I-3 figured out the best way to get Ceradyne's "integrated design crew compartment" affixed to Oshkosh's chassis.)

Roll 'em again
As I mentioned in the Oshkosh article linked above, Ceradyne took a big gamble when it hooked up with Oshkosh on this project, given that Oshkosh had just received a pink slip from the Marines for producing an "Alpha" armored vehicle that caused the Marines "concern regarding overall vehicle survivability." In contrast to that bet, Ceradyne's other contract win yesterday looked like a lock.

Smaller than the MRAP II award both initially and potentially, Ceradyne won a second IDIQ award on Wednesday, this time to produce "Enhanced Small Arms Protective Insert" (ESAPI) body armor plates for the Defense Supply Center Philadelphia. Valued at $16.2 million initially, with a potential value between $22 million and $87 million, this three-year-long contract plays to what has become the bread and butter of the business -- producing ceramic body armor for the troops. It also further cements Ceradyne's position in the body armor business, increasing the likelihood that when the two megacontracts Ceradyne mentioned on its November conference call are awarded, Ceradyne will get at least its fair share of the business.

To recap, these include:

* Up to $400 million in expected ESAPI body armor orders from the U.S. Special Operations Command (SOCOM), and
* A monster, five-year, $1.5 billion contract to produce "XSAPI" body armor -- the next generation after ESAPI. Ceradyne told us to expect word on the winner of this contract by Apr. 1, 2008.

Foolish takeaway
Wednesday was a grand day to be a Ceradyne investor, but even better days may lie ahead. The moonshot bet on MRAP II money just got a little bit less uncertain. Meanwhile, the more certain revenue from body armor is just around the corner. With a trailing P/E of 9, and analysts predicting 9% annual profits growth over the next half decade, Ceradyne looks -- if not bulletproof, then at least safer than a naked short.

[meinolf67]

Ceradyne "hold," target price raised

Monday, December 31, 2007 10:01:59 AM ET
Wedbush Morgan Securities

NEW YORK, December 31 (newratings.com) - Analysts at Wedbush Morgan reiterate their "hold" rating on Ceradyne Inc (CRDN.NAS). The target price has been raised from $50 to $53.

[meinolf67]

04.01.2008 13:34
Ceradyne, Inc. Receives New ID/IQ Body Armor Order

Ceradyne, (News) Inc. (NASDAQ:CRDN) has been awarded an indefinite delivery/indefinite quantity (ID/IQ) five-year order from the United States Special Operations Command (USSOCOM), MacDill Air Force Base, Florida. The order is estimated to have a maximum value in excess of $400 million. The initial delivery order against the ID/IQ contract is $4.9 million and is scheduled for delivery in early 2008.

The order is for the Family of Ballistic Plates for Body Armor Load Carriage System (BALCS). ID/IQ orders allow the government a great deal of flexibility as to exact quantities that will be ordered and timing. This ID/IQ order is estimated to have less than a $6 million minimum value and a maximum value in excess of $400 million. It is Ceradyne's policy to only book an order as firm backlog that has committed delivery dates, such as the above initial $4.9 million delivery order.

David P. Reed, Ceradyne President North American Operations, commented: “We are extremely pleased to have received this multi-year BALCS order from the Special Operations Command (SOCOM). We have been supplying lightweight ceramic armor to SOCOM since the late 1990's and believe our past history of high quality and on-time deliveries helped us in this recent “˜win.' Our armor production capacity in Lexington, Kentucky, and Costa Mesa, California, will allow us to meet SOCOM's requirements. Based on past practice and non-binding conversations with the government, we believe there will be a series of delivery orders issued in 2008 against the blanket ID/IQ contract.“�

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[BrokerPK]

Antwort auf Beitrag Nr.: 32.938.757 von meinolf67 am 04.01.08 13:58:47

wie ist Ceradyne denn aktuell bewertet auch vom KUV her...??
der Auftrag der heute vermeldet wurde macht ja einen erheblichen Teil des bisher geplanten Gesamtumsatzes alleine schon aus ....!!!

[meinolf67]

Antwort auf Beitrag Nr.: 32.939.232 von BrokerPK am 04.01.08 14:38:49

KUV sehr grob etwa 1

[BrokerPK]

Antwort auf Beitrag Nr.: 32.939.278 von meinolf67 am 04.01.08 14:41:26

und KGV müsste bei ca. 8 sein oder !?

bei dem EUR/USD Verhältnis denke ich ne günstige Einstiegsgelegenheit....

[meinolf67]

Antwort auf Beitrag Nr.: 32.939.358 von BrokerPK am 04.01.08 14:50:18

jau!

hängt halt sehr vom Pentagon ab...

[BrokerPK]

Antwort auf Beitrag Nr.: 32.939.599 von meinolf67 am 04.01.08 15:24:17

ethische Gesichtspunkte mal außen vorgenommen, aber:
ist in diesem Sinne ein Irak Abzug (denn ja Hilary Clinton forcieren würde...) negativ für die Aktie zu bewerten...?

[meinolf67]

Wettbewerb:

LDK Solar Acquires Minority Stake in Sinoma Crucible
XINYU CITY, China and SUNNYVALE, Calif., Jan 07, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, announced today that it has entered into an agreement to acquire 33.5% of Jiangxi Sinoma New Material Co., Ltd. (Sinoma), a Xinyu-based crucible manufacturer, from Xinyu Chengdong Investment and Construction Co., Ltd. for a consideration of approximately RMB 17 million.

Sinoma, founded in May, 2007, completed construction of its plant to manufacture crucibles in September, 2007. The company started test production in November 2007 and subsequently commenced shipping products to its customers. Its current capacity is 30,000 units per year, with a goal of reaching 80,000 units per year by the end of 2008. Sinoma integrated its own manufacturing process, equipment development and new technology research.

"Sinoma's proximity to LDK's wafer factory will significantly reduce the logistical costs typically associated with the acquisition of crucibles from abroad," stated Jack Lai, CFO of LDK Solar. "Domestic-sourced procurement is part of our ongoing initiatives to reduce our manufacturing costs. We expect to be able to secure sufficient crucibles to satisfy our capacity expansion plan and reduce costs of this critical supplemental material in the long-term."

[meinolf67]

Quick Take: Ceradyne Delivers on a Promise
By Rich Smith January 4, 2008 Comments (0)

6 Recommendations

Underpromise, overdeliver. At The Motley Fool, we love this mantra.

We loved it when Blackboard (Nasdaq: BBBB) overdelivered on earnings last year. Loved it still when Synopsys and Ciena turned in similarly sterling performances last month.

But second only to this mantra is our love for companies that just plain promise ... then deliver.

That's what defense contractor and ceramics specialist Ceradyne (Nasdaq: CRDN) did earlier today. Two months ago, as you may recall, Ceradyne threw a hand-holding party for nervous investors, assuring us it was about to land a $400 million contract to supply "ESAPI" body armor to the U.S. Special Forces command. One month ago, Ceradyne reiterated the promise.

And today? Today, Ceradyne delivered on its promise, announcing that it has won the contract and already received its first installment on the orders. It's gratifying to see that while other contractors -- Armor Holdings and Mine Safety Appliances (NYSE: MSA), to name two -- make similar armor, the entire award today went to Ceradyne. But more gratifying is the reaffirmation that what Ceradyne promises, it delivers.

[meinolf67]

heute Erstposition verdoppelt

[meinolf67]

10.01.2008 13:34
Ceradyne, Inc. Receives New $9.6 Million Body Armor (SAPI) Order from UNICOR

Ceradyne, (News) Inc. (NASDAQ:CRDN) announced that it has received a $9.6 million order for Small Arms Protective Inserts (SAPI) from UNICOR, Washington, D.C., for delivery starting in February 2008 to be completed in early April 2008.

David P. Reed, Ceradyne President North American Operations, commented: “We are pleased to have received this new order from the 'Federal Prisons Industries, Federal Correctional Institution, UNICOR.' It represents a new market for Ceradyne's lightweight ceramic armor as contrasted to its large direct sales to the various U.S. Armed Services procurement agencies. We intend to ship these armor plates at the same high quality and on-time deliveries as we have in the past to our American Armed Forces.“�

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[meinolf67]

Ceradyne, Inc.'s ESK Ceramics Receives 5-Year 35 Million Euro (50 Million USD) Contract for Industrial Ceramic Seal Faces
Monday January 14, 7:30 am ET

COSTA MESA, Calif.--(BUSINESS WIRE)--Ceradyne, Inc. (NASDAQ: CRDN - News) announced today that its ceramics operation, ESK Ceramics in Kempten, Germany, received a 5-year contract for its EKasic® silicon carbide industrial pump seal faces for an estimated minimum amount of 35 million Euro (50 million USD). ESK Ceramics has developed a product line of these pump seal faces for a wide variety of stringent applications requiring high levels of material properties as well as precision mechanical dimensions. ESK has been working on this program for more than 20 years.

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Thomas Juengling, president of ESK Ceramics, commented: “This multi-year order will support Ceradyne’s strategy of developing commercial and industrial advanced technical ceramic products which are not dependent on its military product offering. The Kempten operation is in the process of significantly expanding its EKasic® silicon carbide product line and this order gives us the confidence that our recent capital expenditure commitment will be justified.”

Barbara Schaaf, ESK vice president of sales, commented: “We feel that ESK’s customer orientation and focus on quality and delivery are responsible for this recent 'win' from a long-time trusted ESK Ceramics customer.”

Ceradyne and its subsidiaries develop, manufacture and market advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission.

[meinolf67]

OKLAHOMA CITY -- Ceradyne (CRDN - Cramer's Take - Stockpickr - Rating) pulled a lot of triple shifts -- with its engineers sleeping in their cars -- on its way to becoming an "overnight sensation."

To outsiders, Ceradyne seemed to burst out of nowhere to become the newest maker of mine-resistant ambush-protected vehicles. Best known as a supplier of body armor, the company made headlines last month when it secured a coveted award under the multibillion-dollar MRAP II program.

Ceradyne beat out five other bidders -- including MRAP heavyweights Navistar (NAVZ - Cramer's Take - Stockpickr) and Force Protection (FRPT - Cramer's Take - Stockpickr - Rating) -- to declare victory. Only BAE Systems, an established MRAP player, managed a similar award.

"We weren't surprised at all," says Marc King, vice president of armor operations for Ceradyne. "We knew we had a system that would meet all of the requirements ... I don't want to come across as cocky, but as the old saying in the Army goes, 'It ain't bragging if you know you can back it up."

Together with its partners, Oshkosh (OSK - Cramer's Take - Stockpickr - Rating) and closely held Ideal Innovations, Ceradyne created a next-generation MRAP, known as the Bull, that can withstand hits from even powerful "explosively formed penetrators." The military responded with an $18.1 million award calling for six more test Bulls, which could open the door for a full-blown production order down the road.

The stakes look downright astronomical. Ceradyne currently relies on body armor for most of its $750 million in annual revenue, with vehicle-related supplies accounting for just $10 million or so of that total.

But Ceradyne has estimated that future orders for its Bulls could bring in another $287 million -- and potentially four times that amount -- going forward.

All told, in its bid to the government, Ceradyne has offered to supply some 41,000 Bulls valued at more than $50 billion. After giving its partners their share, Ceradyne would take home roughly half of that amount.

For comparison's sake, at current revenue-generation rates, Ceradyne would need more than three decades to bring in that kind of money.

To be sure, the U.S. military has no plans to spend that much on MRAPs right now. After all, experts estimate, the military ordered only 12,000 of the vehicles -- worth about $7.2 billion -- when violence in Iraq was at its peak last year. The military has since backed away from its aggressive push for more of the vehicles, signaling a likely end to at least the original MRAP program.

Still, MRAP II promises another major opportunity. This year, experts predict, the military could order about 3,000 of the next-generation vehicles under an MRAP II program that boasts some $12.5 billion in earmarked funding.

Without any Bull orders, Ceradyne expects to deliver minor growth this year, with sales of $780 million and earnings of $5.60 a share. With just a 550-Bull order, however, those numbers should jump by 37% and 19%, respectively, as the company hits the high end of its range.

"In the 40 years since I was involved in the founding of Ceradyne in August of 1967," CEO Joel Moskowitz told investors last October, "the company has never had a program as exciting -- and with the financial potential as large as -- our involvement with what we've now called the Bull."
'Team Bull'

Ceradyne can thank Ideal Innovations, better known as I3, for its opportunity.

During multiple visits to Iraq, I3 President Robert Kocher observed a threat posed by EFPs -- the most devastating of roadside bombs -- that could overcome the protection offered by even sturdy MRAP vehicles. When the Marines called for a solution in 2005, Kocher relied on his deep military and technological experience to seek an answer. He found one and soon patented it, then set off in search of a partner.

Kocher settled on Ceradyne by the fall of 2006. Less than six months later, I3 and Ceradyne had delivered their vehicle to the military's official testing site in Aberdeen, Md., and showed that EFPs could in fact be defeated.

Meanwhile, military interest in EFP protection -- and the Bull, in particular -- continued to escalate. In fact, a cover story last fall by USA Today reported that even the Secretary of Defense fielded pleas to review the vehicle.

"Although we do not currently have orders for the Bull, we believe there is substantial congressional and military interest in this unique vehicle," Ceradyne noted in its second-quarter conference call last July. "We know that they will meet the performance that we anticipate will be asked for in MRAP II. And it is just a matter of getting through all of the government's wickets in order to start building those vehicles."

By then, other companies had started expressing similar confidence in next-generation vehicles of their own. When the military issued its formal request for proposals late that month, at least half a dozen companies rushed to respond.

They had reason to hurry. The companies had just two months to submit their proposals. Moreover, unlike MRAP I, those proposals had to include two representative vehicles for testing.

I3 and Ceradyne only added an actual truck maker to "Team Bull" just days before that RFP. They selected Oshkosh, which fared poorly during MRAP I but offered a proven chassis -- already in wide use by the military -- that looked ideal for MRAP II.

Unlike most military trucks, King says, the OshKosh vehicle was primarily designed for off-road missions like those that have proven especially vulnerable to EFP blasts. In addition, the truck features an independent suspension system and the weight-carrying capacity necessary for heavy armored protection.

Finally, he adds, the truck has a proven reputation and comprehensive support -- including maintenance crews, spare parts and instruction manuals -- already in the field.

Thus, Team Bull felt that it had a much-needed head-start.

"We didn't have anything ready other than the previous concept for the armor," King stresses. And "we had just 50 days to build the two vehicles."

Nevertheless, he adds, "we said that we were not only going to be on time but we were going to beat the clock" as well.
Rapid-Fire Delivery

Team Bull members at Ceradyne, together with almost three dozen employees from I3 and Oshkosh, immediately began working round-the-clock shifts.

To save time and minimize possible errors, King says, Ceradyne even scrapped its traditional engineering system and adopted the one used by Oshkosh. Engineers rarely left the site, he says, with team members instead grabbing a couple of hours of sleep outside in their cars for refreshment.

After long weeks of this grueling routine, King says, the group delivered the first of its two Bulls for testing five days early. The second followed shortly afterward.

"They don't normally allow you to transport big vehicles on trailers during the weekend," King explains. "So we had to get a special road-clearance permit from the state of Maryland. And the vehicle arrived at noon on the Sunday before the closing of the bid."

After the bid's closing, the companies would hear nothing unless problems arose with their vehicles. They had plenty to say themselves, however.

Indeed, during a late-November teleconference that attracted a record audience, Ceradyne portrayed the Bull as the best MRAP II entrant of all.

"We believe that our vehicle is the only one that will stop the most major threat in the theater," Moskowitz stressed once again. "And we further believe that it's very difficult to even retrofit any of the MRAP Is to be able to do that to the full extent that our vehicle does it.

"So if someone really decides that they need this protection, we think our vehicle is the only way to go."

Still, even Ceradyne sensed that the military might favor its established MRAP suppliers with awards. Thus, Ceradyne was a little surprised when the military bypassed two of those companies -- with only foreign-owned BAE surviving -- in the end.

But Ceradyne actually won the largest MRAP II contract of all, picking up millions of extra dollars for offerings beyond the vehicles themselves. So the company is now back in overdrive, working round-the-clock shifts, to satisfy a speedy deadline once again.

Even with violence in Iraq reportedly dropping -- and potentially threatening demand for MRAP vehicles -- Ceradyne feels compelled to chase a dream that it still believes that it can capture in the end.

"The Internet (featuring instructions for EFPs) has assured that -- no matter where we go -- if the enemy wishes to kill us, they will have a very inexpensive way to go about doing it," insists King, who ended his military career as a lieutenant colonel in the Army. "We have the solution.

"So," he adds, "we should never have to hear a Secretary of Defense say at a press conference again: "You go to war with the army you have -- not with the army you wish you had.'"

[meinolf67]

Ceradyne Gets a Tat
By Rich Smith January 15, 2008 Comments (0)

8 Recommendations

Does anyone really understand how Mr. Market's mind works?

Consider this: When ceramics specialist Ceradyne (Nasdaq: CRDN) reported last week that it had won a $10 million order to supply ceramic body armor inserts to UNICOR, Ceradyne's stock price jumped 6% on the news. (UNICOR is the trade name for Federal Prison Industries Inc. Being owned by the government, it doesn't have a stock price.)

Now jump forward to yesterday's news that Ceradyne had won another contract from a "longtime trusted" (but unidentified) customer of Ceradyne subsidiary ESK Ceramics. The two contracts had three significant differences:

* First, Ceradyne's ESK subsidiary sells not high-tech body armor, but silicon carbide industrial pump seal faces. (Sexy!)
* Second, the ESK contract was worth not $10 million, but $50 million to Ceradyne.
* Third, and most pertinent to today's article, was the effect on Ceradyne's stock price. The five-times-larger ESK contract boosted Ceradyne's stock price less than one-third as far as the smaller, but sexier, body armor contract did.

This is ironic, because, according to Ceradyne, the ESK contract: "will support Ceradyne's strategy of developing commercial and industrial advanced technical ceramic products which are not dependent on its military product offering." In other words, Ceradyne intended that its press release reassure investors that the company isn't all about government military contracts, where it competes with everyone from Mine Safety (NYSE: MSA) on body armor, to General Dynamics (NYSE: GD), Textron (NYSE: TXT), and Force Protection (Nasdaq: FRPT) on armored vehicles. Ceradyne was reminding us that it has a civilian business as well.

Investors exulted at a tiny government contracting win, but yawned at the much larger private industry sale. (This could also be a result of overall investment sentiment toward the stock market.)

Foolish takeaway
Moral of the story: This is good news, more good news, and bad news for Ceradyne investors. Good news because the longer investors insist in their minds on tying Ceradyne's future to government contracts, the longer the stock will receive outsized benefits from tiny government contracting wins. Good news, too, because the company is delivering on its promise to continue to develop new products to replace the government contract revenues that will dwindle whenever the Iraq war winds down.

And bad news? No matter how many deals Ceradyne does to manufacture pump seal faces, nuclear waste containers, or silicon semiconductor crucibles, it seems Mr. Market will continue to dis its success.

[meinolf67]

1/31/2008 2:37:31 PM Thursday, Ceradyne, Inc. (CRDN), a manufacturer and marketer of technical ceramic products, announced its receipt of a ceramic body delivery order for $59.1 million from the US Army, Aberdeen Proving Ground of Maryland.

Ceradyne said that the order is for Enhanced Side Ballistic Inserts, which would be delivered from February 2008 through June 2008. This new delivery order would be shipped against an indefinite delivery/indefinite quantity contract announced in July 2006, which covers a five-year delivery period.

Previously on January 14, 2008, the company revealed that its ceramics operation, ESK Ceramics in Kempten, Germany, received a 5-year, US$50 million contract for its EKasic silicon carbide industrial pump seal faces.

On January 10, 2008, Ceradyne said that it has received a $4.9 million, five-year, indefinite delivery/indefinite quantity contract for body armor from the United States Special Operations Command. The contract is estimated to have a maximum value in excess of $400 million. On Jan 10, Ceradyne secured a $9.6 million order for Small Arms Protective Inserts from UNICOR, Washington, D.C.

CRDN's shares are currently trading at $48.09, up $3.38, or 7.56% from its previous closing of $44.71.

[meinolf67]

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Forbes' 2008 ranking of the 25 Fastest-Growing Tech Companies in America has 13 new members, matching the record turnover from last year. We rank this list according to five-year sales growth, but candidates must jump several other financial hurdles to get to that point. Of course, in order to make our ranking other companies have to fall off the list.

....

The top-ranked newcomer in our 25 fast tech list is Ceradyne (nasdaq: CRDN - news - people ), ranked third on our list, thanks to its 75% annualized five-year sales growth. Ceradyne develops technical ceramic products primarily for the aerospace and defense market. The ongoing military conflicts in Afghanistan and Iraq have increased the demand for its lightweight ceramic body armor. Other seemingly disparate applications for Ceradyne's expertise include nuclear waste containment and orthodontic brackets. As of Jan. 29, the company sells for just eight times its Thomson IBES 2008 consensus earnings forecast of $5.79 per share.

[meinolf67]

05.02.2008 18:52
Ceradyne, Inc. Receives Order for Lightweight HEMTT (Heavy Expanded Mobility Tactical Truck) Prototype Armor Kit
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Ceradyne, (News) Inc. (NASDAQ:CRDN) announced it has received an initial order for its B-Kit prototype armor kit from Oshkosh Truck Corporation for a lightweight HEMTT A3 crew cab armor appliqué program. This prototype order, in excess of $200,000, is scheduled to be completed in the second quarter of 2008.

Marc King, President of Ceradyne Armor Systems, Inc., commented: “We are pleased to have received this prototype order as it will incorporate Ceradyne's LTAS (Long Term Armor Strategy) certified design. We believe that the Ceradyne armor solution shall result in a cost effective lightweight armor program.“

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,“ “believes,“ “plans,“ “expects,“ “intends,“ “future,“ and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended dated December 31, 2006 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission.

[meinolf67]

06.02.2008 20:52
Ceradyne, Inc. Appoints Dr. Thomas Juengling Ceradyne Vice President and President of ESK Ceramics
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Ceradyne (News) (NASDAQ:CRDN) has appointed its Chief Technology Officer, Dr. Thomas Juengling, to the office of Ceradyne Corporate Vice President and President of Ceradyne's German subsidiary, ESK Ceramics, located in Kempten, Germany.

Dr. Juengling has been with ESK Ceramics since 1996 and for the past two years with Ceradyne, Inc. His PhD degree was earned from the Institute for Ceramics in Mechanical Engineering/Institute for Materials Science II, University of Karlsruhe, Germany. Dr. Juengling has held various scientific, marketing, and management positions both in Germany and for the past two years at Ceradyne's corporate headquarters in Costa Mesa, California.

Dr. Juengling will have authority and responsibility for all aspects of ESK Ceramics, reporting directly to Ceradyne's CEO and Chairman of the Board, Joel Moskowitz.

Dr. Juengling is 44 years old and will reside with his wife, Brigitte, in Kempten, Germany.

Ceradyne acquired ESK Ceramics in 2004 for approximately $142 million (USD). ESK Ceramics currently represents approximately 27% of Ceradyne's estimated 2008 revenues.

Ceradyne's CEO, Joel Moskowitz, commented: “The 2004 acquisition of ESK Ceramics by Ceradyne has contributed significantly to the successful growth of Ceradyne over the past three years. Because ESK Ceramics produces much of the basic raw materials used in our advanced technical ceramics, Ceradyne and ESK have resulted in a profitable, vertically integrated manufacturing model.

“Dr. Juengling's ten years of experience, first with ESK Ceramics and more recently here in California as Ceradyne's Chief Technology Officer, results in the perfect experience background for his new position as President of ESK Ceramics. As Ceradyne's CEO, I am personally pleased and enthused over having an executive such as Thomas as a corporate officer as he brings to his new position the discipline and structure of an 85 year-old successful German company, ESK Ceramics, as well as the rapid growth and entrepreneurial experience of 40 year-old Ceradyne, Inc.“

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[Krueppl]

Die Zahlen von heute scheinen ja sehr gut anzukommen. Langsam ist der Wert auch für mich interessant

[kyron7htx]

Antwort auf Beitrag Nr.: 33.478.280 von Krueppl am 26.02.08 14:54:32

[Krueppl]

Hätte ich die Ironietags reinstellen sollen?

Nein im Ernst - langsam wird das KBV auch halbwegs erträglich - und bei Panik (-30%) im vorbörslichen Kurs - lässt es sich gut Stockpicken

[elsolivars]

das wird dann wohl der grund gewesen sein :



Title:
Ceradyne, Inc. Reports Fourth Quarter, Twelve-Month 2007 Financial Results - Revenues and Earnings Reach Record Levels for 2007
Date: 2/26/2008 12:00:00 AM


COSTA MESA, Calif.--Feb. 26, 2008--Ceradyne, Inc. (Nasdaq: CRDN)
reported financial results for the fourth quarter and twelve months
ended December 31, 2007.

Sales for fourth-quarter 2007 increased 7.1% or $12.7 million to
$191.4 million from $178.7 million in fourth-quarter 2006. Net income
for fourth-quarter 2007 decreased by $2.5 million, or 6.7%, to $35.2
million, or $1.28 per fully diluted share, compared to $37.7 million,
or $1.38 per fully diluted share, in the fourth quarter of 2006. Fully
diluted average shares outstanding for the fourth quarter were 27.6
million compared to 27.4 million in the same period in 2006. Gross
profit margin was 39.6% of net sales in the fourth quarter of 2007
compared to 40.7% in the fourth quarter of 2006. The provision for
income taxes was 33.7% in the fourth quarter of 2007, compared to
33.3% in the fourth quarter of 2006.

Sales for the twelve months ended December 31, 2007 reached a
record $756.8 million, up from $662.9 million in the same period last
year. Net income for the year ended December 31, 2007 increased to a
record $144.3 million, or $5.20 per fully diluted share, on 27.7
million shares, from $128.4 million, or $4.69 per fully diluted share,
on 27.4 million shares, for the year ended December 31, 2006.

New bookings for the fourth quarter of 2007 were $258.0 million,
compared to $313.5 million for the same period last year. For the
twelve months ended December 31, 2007, new bookings were $651.3
million, compared to $730.1 million in 2006.


Total backlog as of December 31, 2007 was $238.9 million, compared
to total backlog at December 31, 2006 of $344.3 million.

Joel P. Moskowitz, Ceradyne president and chief executive officer,
commented, "We are pleased that the fourth-quarter financial
performance resulted in Ceradyne meeting its 2007 guidance of $720
million to $740 million revenue with an earnings range of $5.20 to
$5.40 per fully diluted share, consistent with our October 30, 2007
comment that 'we will meet our 2007 guidance with sales at the upper
range and earnings at the lower range.'

"On October 30, 2007, we also stated our initial 2008 guidance as
follows:

'In the past, we have issued forward full-year guidance in the
prior year once we felt we had reasonable visibility. Due to the
potential magnitude of the BULL(TM) combat vehicle, as well as the
five-year XSAPI/ESAPI proposal, neither of which has been awarded, we
are providing the following guidance with an unusually wide range. The
lower range reflects all of our current business units, as well as
body armor reduced somewhat from the current shipping level (even
though multi-year XSAPI/ESAPI orders will not be issued until early
2008), but does not include any production of the BULL(TM) combat
vehicle. The higher end of the range includes the lower end plus
production of the BULL(TM) combat vehicle in the second half of 2008.'

"During our October 30, 2007 conference call, we stated that 'our
initial 2008 guidance is:

-- Sales range from $780.0 million to $1.067 billion, and

-- Earnings range from $5.60 to $6.65 per fully diluted share.'

"We now believe, based on recent discussions and events, that the
above 2008 guidance should be modified for the following reasons.
Early this month, Ceradyne submitted its proposal for a five-year
supply of both ESAPI (Enhanced Small Arms Protective Inserts) and
XSAPI. The total of the anticipated award is estimated at $1.2 billion
as an ID/IQ (Indefinite Delivery/Indefinite Quantity) contract. We
believe that this contract will be awarded to multiple bidders in a
similar pattern as the prior and current SAPI and ESAPI contracts.
Because of our past performance and manufacturing capacity in our
Lexington, Kentucky, and Costa Mesa, California, facilities, we
anticipate a favorable 'win' percentage of delivery orders, primarily
XSAPI. However, due to the multiple delays and extensions the
government has granted, we believe that shipments against this
anticipated order will not begin until the fourth quarter of 2008.

"Based on the delivery schedule under our current ESAPI contract,
there will be a four-month 'gap' between completion of this contract
and the expected commencement of XSAPI shipments. Relying on
non-binding discussions with the government, we do not believe there
will be extensions of the current order as there were in Q3 and Q4
2007. Our intention, with the Army's concurrence, is to 'stretch' out
the current ESAPI contract through Q3 2008 with the anticipation that
a new contract for XSAPI will be in place by Q4 2008. Although we
anticipate additional ESAPI sustainment orders, as well as other body
armor orders, the net result will be a reduction in 2008 body armor
shipments of approximately $80 million from the amount included in our
initial 2008 guidance.

"To rationalize our armor-related costs, we are reducing our
workforce by approximately 234 employees and reducing certain other
body armor variable costs. Over 50% of these reductions will be
temporary workers and the balance mostly hourly workers hired in the
past 12 months. We have also informed the Army that we can return to
our former level of production, if required, within 60 days.

"Due to projected offsetting 2008 increases in solar ceramic
crucibles and other non-defense business, the net estimated reduction
in our initial 2008 revenue guidance is $65 million.

"After the award of the $18.1 million prototype BULL(TM) contract
(MRAP II) to Ceradyne and its partners, Oshkosh Truck and Ideal
Innovations, Inc., on December 19, 2007, we and our partners were able
to obtain substantially better pricing on materials and subcomponents
which we have passed on to the government, making us much more
competitive, but resulting in lower potential revenue from this
program. This reduction in revenue is also reflected in the revised
2008 guidance which follows:

"Due to the potential magnitude of the BULL(TM) combat vehicle
program, as well as the five-year XSAPI/ESAPI proposal, neither of
which has been awarded, we are providing the following revised
guidance with an unusually wide range. The lower range reflects all of
our current business units (even though multi-year XSAPI/ESAPI orders
will not be issued before Q3 2008), but does not include any
production orders for the BULL(TM) combat vehicle. The higher end of
the range includes the lower end plus production of the BULL(TM)
combat vehicle in the second half of 2008.

"Based on the foregoing factors, our revised 2008 guidance is:

-- Sales range from $715 million to $836 million

-- Earnings range from $4.55 to $5.05 per fully diluted share."

Moskowitz further commented: "We continue to pursue our growth
strategy of internal expansion of our manufacturing capacity as well
as selected strategic acquisitions. Our strong position of cash and
marketable securities at year end should enable us to act quickly as
opportunities present themselves. Our goal continues to be revenues in
excess of $1 billion by 2010 evenly distributed between defense and
non-defense markets, with an international and product diversification
focus. A few selected recent activities follow:

-- "Solar Energy Ceramic Crucibles: We have selected an
approximately 12-acre site near our current plant in Tianjin,
China, and plan to construct 200,000 square feet of additional
manufacturing capacity to meet the increasing demand for
ceramic crucibles to produce polycrystalline photovoltaic
silicon for solar panels. Our plan is to have this factory
running towards the end of 2008. Additionally, we are
expanding our ceramic crucible manufacturing capacity at our
factories near Atlanta, Georgia. We believe our shipments of
these solar-related products will increase from $11 million in
2007 to an estimated $50 million to $60 million in 2008 to
well over $100 million in 2009. Our 2007 acquisition of our
raw material supplier Minco will provide us a reliable source
of high purity raw materials to support this expansion.

-- "ESK Ceramics -- Kempten, Germany: During the first half of
2008, we will complete about $20 million of capital
expenditures for the expansion of manufacturing capacity at
our ESK Ceramics subsidiary in Kempten, Germany. The products
are principally boron nitride powders for cosmetic
applications as well as powders and components for metallurgy
and thermal management. The second product expansion is
primarily silicon carbide industrial seal and bearing
components. The total additional capacity for these growth
markets is $25 million per year.

-- "The BULL(TM) Combat Vehicle: Team BULL (Ceradyne, Inc.,
Oshkosh Truck and Ideal Innovations) shipped its first
BULL(TM) (MRAP II) vehicles early this month and plans to
complete the six prototypes on time. We believe the testing is
progressing smoothly with excellent performance. We anticipate
a production decision by the government early in the second
quarter of 2008. Ultimately, the production decision will rely
not only on our performance, but also on the government's
perception of the need in the field for this advanced
state-of-the-art combat vehicle and our BULL(TM) product
offering compared to the competitive environment.

-- "Acquisitions: The 2007 acquisitions of Ceradyne Boron
Products (formerly EaglePicher Boron) and Minco have been
successfully integrated into Ceradyne's other operations and
are performing at or above our expectations.

"We continue to explore strategic acquisition opportunities in
both defense-related and industrial applications, and expect
additional acquisitions to be made this year."

Ceradyne will host a conference call today at 8:00 a.m. PST (11:00
a.m. EST) to review the financial results for the quarter and the year
ended December 31, 2007. Investors or other interested parties may
listen to the teleconference live via the Internet at www.ceradyne.com
or www.earnings.com. These web sites will also host an archive of the
teleconference. A telephonic playback will be available beginning at
11:00 a.m. PST today through 9:00 p.m. PST on February 28, 2008. The
playback can be accessed by calling 800-642-1687 (or 706-645-9291 for
international callers) and providing Conference ID 33671977.

Ceradyne develops, manufactures and markets advanced technical
ceramic products and components for defense, industrial,
automotive/diesel and commercial applications. Additional information
can be found at the Company's web site: www.ceradyne.com.

Except for the historical information contained herein, this press
release contains forward-looking statements regarding future events
and the future performance of Ceradyne that involve risks and
uncertainties that could cause actual results to differ materially
from those projected. Words such as "anticipates," "believes,"
"plans," "expects," "intends," "future," and similar expressions are
intended to identify forward-looking statements. These risks and
uncertainties are described in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2007, and its Quarterly
Reports on Form 10-Q, as filed with the U.S. Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date thereof.

Please visit the Investor Relations page at www.ceradyne.com to view
a summary of unaudited comparative results.

--30--

CONTACT: Ceradyne, Inc.
Jerrold J. Pellizzon, Chief Financial Officer
[phone] x8262
or
Silverman Heller Associates
Phil Bourdillon/Gene Heller
[phone]

[meinolf67]

Ceradyne's Armor Isn't Bear-Proof
Shares of the maker of ceramic protective equipment for U.S. soldiers tumbled on Tuesday after it slashed its revenue and profit outlook

by David Bogoslaw
Investing

A drop in casualties among U.S. soldiers in Iraq and improving odds for a pullback in the U.S. occupation forces have the market worried about Ceradyne's (CRDN) ongoing profitability given the company's heavy reliance on defense-related products.

The stronger, lightweight ceramic body armor that Ceradyne has been making for U.S. soldiers over the past year is arguably one reason that fewer soldiers are dying in Iraq. The enhanced body inserts are able to withstand an AK47 bullet and the fact that the armor weighs less than metal plates makes it very attractive.

But the uncertainty of how much demand there's likely to be for an even stronger version of the body armor, as well as questions about the size of forthcoming Army awards for add-on protection for vehicles, has investors doubting whether the Costa Mesa, Calif.-based company can continue to increase earnings.

Before the market open on Feb. 26, the manufacturer of ceramic products used in the defense, industrial and automotive industries reported a profit of $1.28 per share in the fourth quarter, vs. $1.38 a year ago, as higher operating expenses offset a 7.1% gain in sales. The results missed the Street's consensus forecast by two cents.

A much bigger disappointment was Ceradyne's slashing of its 2008 revenue outlook to between $715 million and $836 million from a prior range of $780 million to $1.07 billion. It also cut its earnings forecast to $4.55 to $5.05 per share from a prior estimate of $5.60 to $6.65 per share.

The lower revenue projection is due mainly to the company's expectation that the Army's order for next-generation body armor will come at the start of the fourth quarter instead of in the second quarter.

That translates into lower shipments and reduced earnings for 2008. The $80 million hit to revenue from the delayed order adds to a 10% decline in 2008 sales that Ceradyne had warned the market about earlier. The company said it expects the $80 million loss to be partly offset by a $15 million increase in sales from non-defense businesses.

Analysts had estimated earnings of $5.67 per share on revenue of $831.5 million in 2008. On Feb. 26, the shares closed 24.2% lower at $35.75.

Ceradyne also announced plans to cut about 234 jobs, or nearly 11% of its workforce, in an effort to adjust for a declining production rate. More than half of the cuts will be temporary workers and the rest will be mostly hourly employees hired over the past year, the company said.

Analysts estimate that by this time most soldiers in Iraq have been outfitted with the enhanced body armor. If the insurgents can afford to use more penetrating bullets, there will be a more compelling reason for the Army to order more of the next-generation body armor that Ceradyne has developed, but otherwise there's less need to replace what they already have, says Avinash Kant, an analyst who covers makers of advanced materials for Broadpoint Capital in San Francisco and has a buy rating on the stock..

In the near term, the company has more to gain by providing add-on armor for the Army's enhanced Mine Resistant Ambush Protection, or MRAP II, program for high-threat vehicles, says Al Kaschalk, an analyst at Wedbush Morgan Securities in Los Angeles.

But the profits from the prototype that Ceradyne will produce this year with two partners are now expected to be lower than originally believed, as the three companies have secured lower pricing on materials and subcomponents and plan to pass the cost savings onto the Army.

The low-end of Ceradyne's revenue projections for 2008 don't include any benefit from the MRAP II program, Joel Moskowitz, the company's president and chief executive, said on a conference call Tuesday morning to discuss the latest results.

After recently receiving a letter from the Army approving the use of materials other than aluminum in armor for vehicles, Moskowitz said he feels "really good about LTAS," which is the Army's long-term armor strategy program. "We think we can offer 35% to 40% weight savings on the [vehicles] we produce."

The Army is projecting a need for up to 40,000 additional vehicles over the next five years with an estimated cost of up to $2.0 billion in add-on armor.

Kant at Broadpoint said he's estimating that the company's gross margins will drop to 37% to 38% this year from 40.6% in 2007 as a result of the lower prices it will be charging the Army for products for the MRAP II program. (Broadpoint makes a market in Ceradyne's securities.)

The market is struggling to gauge the level of sustainable earnings that Ceradyne can generate over the long term, said Kaschalk. The company's profits went from $4.69 in 2006 to $5.20 per share in 2007 but now are expected to fall below that this year, which points to a downward trend, he said.

"It's hard to get comfort with government programs like that," said Kaschalk, who said he would probably maintain his hold rating on the stock. "The spending is dependent on [the severity of] the conflict that's going on."

The prospects for Democrats winning back the White House later this year will exert more impact on investor sentiment toward defense-oriented companies than on the actual situation in Iraq, Kaschalk said.

Meanwhile, Ceradyne is expanding its solar business and plans to add 200,000 square feet of manufacturing capacity near its existing plant in China. The company sees shipments of its ceramic crucibles, which are used to melt silicon for use in solar panels, increasing from $11 million last year to a projected $50 million to $60 million in 2008 and more than $100 million in 2009.

Ceradyne's non-defense business results are increasingly positive, but 62% of the company's total revenue still comes from defense applications, saysd Kaschalk. "We think that has to get meaningfully lower to get people interested at these [stock] levels," he said.

At the low end of its earnings range for 2008, the stock is trading at a multiple of eight times 2008 earnings, says Kant. But if Ceradyne is awarded the MRAP contracts, that's likely to be a positive catalyst for a higher valuation, he predicts.

[meinolf67]

Posi heute um 150% aufgestockt...

[meinolf67]

Ceradyne "buy," target price reduced
1:56p.m. - Stanford Financial Group

NEW YORK, February 27 (newratings.com) - Analysts at Stanford Research reiterate their "buy" rating on Ceradyne Inc (CRDN). The target price has been reduced from $75 to $55.

[Krueppl]

Obwohl der Wert optisch wirklich gut ist scheue ich mich im Moment noch vor einem Einstieg.

Die großen Gewinne 2003-2007 sind wohl eindeutig dem Irakkrieg geschuldet.

Ich rechne immer im "Worstcase". Was ist, wenn nach einem Wahlsieg Obamas sich die USA überstürzt aus dem Irak zurückziehen?

Gehen wir davon aus, dass das Unternehmen die Gewinne von 2000-2002 (also vor dem Krieg) realisieren kann und profitabel bleibt.

Dann hätte man einen Umsatz von rund 100 vielleicht 200 Mio $ Der Gewinn würde auf 13 (2002) bis 30 (2003) Mio Dollar zurückgehen.

Das wären bei einer MarketCap von 900 Mio$ (Heute) ein KGV von knapp 30 für (2003).

Klar ist der Kurs zum Buchwert (580 Mio$) und der Cashbestände gut abgesichert.

Aber ein gewisses Risiko besteht. Insbesondere, da das Unternehmen keine "Gebrauchsgegenstände" herstellt. Wenn alle Soldaten eine neue "superduper" Keramikrüstung haben - ist erstmal für eine gute Weile Ruhe.

An sich finde ich Ceradyne enorm interessant, aber das Risiko, dass dem Unternehmen in Zukunft wichtige Abnehmer fehlen (wenn beispielsweise Obama gewählt wird und die USA etwas "weniger" rüsten).

Und für das Risiko ist der Preis noch etwas zu hoch. Allerdings juckt es mir nach dem weiteren Absturz gestern wirklich in den Fingern.

[meinolf67]

Antwort auf Beitrag Nr.: 33.512.533 von Krueppl am 29.02.08 10:22:45

Der Rüstungskram ist das, was mich fast von einem INvestment abgehalten hätte.

Irgendwo im Transkript ist von 38% non-defense Umsatzanteil die Rede. Und der wächst.

Die Solar Crucibles sollen im nächsten Jahr schon >100 Mio sein.

Was ich bisher gar nicht einschätzen kann, ist das Thema Aluminium (aus dem cc):

"In the other areas that I talked about before, I have mentioned ESK because we are out of capacity now on the cosmetic boron nitride. We're expanding that and I mentioned the seals of which we put out. We've got some of the largest orders for ESK, they ever got from their two largest customers in Europe for the seals silicon carbide.

And for some of the more future where in the past I said there are really two product lines that could end up bringing a $1 billion worth of revenues to Ceradyne, one is the combat vehicles and I think where we are, I think we discussed that earlier and the other is a major revision to the methodology of smelting aluminum that would use our advanced non-oxide materials made in Germany, that's progressing out. I know that it is, as recently for example in January we've got 12 on order for 12 tons of aluminum related ceramics.

I don't know any other products that they ordered by the ton, except maybe the boron nitride for cosmetics and that's small quantities. Now we are involved with almost every major aluminum company in the world. There were meetings, extensive meetings in Europe as recently as this month in France and Germany and I continue to believe that is one of the future opportunities of Ceradyne. We are investigating and planning. You'll see no impact in '08, well a little bit, I just told you, we got 12 tones.

But I think in '09 you'll begin to see product moving for what is called a drain cathode and then there will be other products at the end of '09 and into 2010. We're seriously considering expanding our operations away from Germany, perhaps in the manufacturing of titanium diboride and all the other areas that we are working on an alternative energy continued to increase, albeit at smaller absolute dollars than the defense products but with good margins and very long upside."

[Krueppl]

Naja nach Geschäftsbericht2007 - der ja erst seit kurzem verfügbar ist, macht der Defense-Teil etwa 70% des Umsatzes aus. Hinzu kommen 20% Industrial und 10% "Rest".

Mag schon sein, dass der "non-defense" Teil steigt. Aber um die möglichen Ausfälle der Defense zu kompensieren müssten die anderen Umsätze ganz schön stark steigen (Zuviel Hoffnung).

Ich will nur andeuten, dass - bis es zu Abkoppelung der Rüstung kommt - noch einiges an Zeit vergehen wird. Deshalb sollten die Aufträge des US Militärs im Blick bleiben.

An sich spricht aber natürlich die wirklich günstige Bewertung für das Unternehmen .

[Krueppl]

Wie ich Dir geschrieben habe, habe ich mir nochmals Gedanken gemacht. Seit heute Morgen sitzten wir im gleichen Boot. Ich bin jetzt "Keramik-Aktionär" Mit Fair Value von 60$ in der Berechnung. Hinzu kommt natürlich der unsichere Euro/Dollar.

[meinolf67]

Antwort auf Beitrag Nr.: 33.532.596 von Krueppl am 03.03.08 11:39:49

Zumindest für die Crucibles kannst Du von Kosten und Erlösen im Yuan ausgehen. => Hedging


Ansonsten wünsche ich Dir (und mir) Glück mit dem Wert. Mein Zeithorizont hier ist lang. Beabsichtige über 2009 hinaus unbegrenzt zu halten...

[meinolf67]

Antwort auf Beitrag Nr.: 33.532.596 von Krueppl am 03.03.08 11:39:49

Wo hast Du gekauft?

Finde in ganz D nicht ein Stück Umsatz heute morgen; und die Amis liegen noch im Bett...

[Krueppl]

Ich war an einem öffentlichen Platz und konnte erst jetzt kaufen. ^^

Alter Fuchs

Hast Du Informationen über die Crucibals, damit man sich "Nachfrage" und Produkt mal näher vorstellen kann

[Krueppl]

Ist eine erste Position, die - sollte der Kurs fallen - immer mal wieder aufgestockt wird.

Ich habe auch einen Horizont von meheren Jahren. Es sei denn wir sind "nächste" Woche bei 60$ (was unwahrscheinlich ist). Sonst passe ich den Fair Value für mich immer an - und verkaufe - wenn es in die "Nähe des Fair Values" geht.

[meinolf67]

Antwort auf Beitrag Nr.: 33.534.338 von Krueppl am 03.03.08 14:42:16

zu 20,52?

Vesuvius/Cookson ist der einzige Wettbewerber, den ich bis jetzt kenne; schöne Präsentation (ab Seite 49):


http://www.cooksongroup.co.uk/cookson/uploads/results/presen…

[Krueppl]

Jau,

zu welchem Kurs hast Du am 29. um 150% aufgestockt? Da gibts im Grunde auch nur 5 Kurse zur Auswahl

[meinolf67]

Antwort auf Beitrag Nr.: 33.534.760 von Krueppl am 03.03.08 15:19:45

Das war zu 23,85...

Schau Dir mal Cookson an; ist wirklich auch interessant.

Wenn man so rumfragt, sagen all, Vesuvius sei der größte, aber wenn ich die Präsis richtig lese, dürfte Ceradyne schon dran vorbei sein.

Der Vorteil von Cookson ist: keine Rüstung

Allerdings noch gut doppelter Buchwert.

Offenbar auch noch schwieriger als CRDN in D zu kaufen. Habe ein paar Kurse in Berlin druchprobiert, aber jedesmal wird die Taxe vom Makler geändert. Offenbar will er nicht..

[Krueppl]

Also Stuttgart ;-)

Cookson werde ich mir mal gleich anschauen. Ich könnte gleich mehrere Werte empfehlen die ich interessant finde. Etwa Vivacon, K-Swiss, Grenke Leasing.
Ich versuche immer in einem relativ simplen und konservativem Bewertungsmodell Werte zu finden, die etwa 50% unter Ihrem fairen Wert notieren. Seit November ist die Suche auf jeden Fall leichter geworden.

Genau die Frage zur Menge der Crucibles versuche ich gerade auch zu evaluieren, da ich die eigentlich unter "nice to have" abgespeichert hatte.

Ich sehe, dass Versuvius 2007 rund 75.000 und 2008 rund 100000 Crucibles herstellen will.

Die Fragen die sich stellen: 1)Gibt es "wirklich" Qualitätsunterschiede zwischen diesen Produkten
2) Wieviel Silizium-Platten werden in (naher/ferner) Zukunft benötigt; (Wie groß ist der Markt der Crucibles)
3) Wieviel kann eine 92 Tsd m² Halle in China herstellen?

[Krueppl]

Ach ja: Danke für die schöne Übersicht - und es ist eindeutig zu sehen, dass die Crucibles "zerschlagen" werden.

Cookson fällt bei mir sofort raus.

KBV von 4 ist eindeutig zu teuer für ein Unternehmen, dass 2002-2005 durchgehend Verluste geschrieben hat. KGV 19. neee.

[meinolf67]

Antwort auf Beitrag Nr.: 33.535.366 von Krueppl am 03.03.08 16:02:37

Grenke ist eine meiner Kernpositionen (siehe Thread)

[Krueppl]

dann sind wir ja auf einer Wellenlänge ^^

[Krueppl]

Genau dass, womit ich ehrlich gesagt gerechnet habe

Ceradyne to buy back $100 million in stock

CRDN 30.13, -0.98, -3.1%) said Tuesday its board had authorized the repurchase of up to $100 million worth of common stock. Ceradyne intends to use cash on hand and excess free cash flow to acquire the shares. Ceradyne shares are up 31 cents to $30.44 in premarket tradi

[meinolf67]

Antwort auf Beitrag Nr.: 33.538.728 von Krueppl am 03.03.08 20:37:44

The Pressure Is On For Ceramics
Andrew T. Gillies, 03.07.08, 6:00 PM ET

WASHINGTON, D.C. -

In the early 1980s, buzz grew loud around the use of ceramics in motor vehicles. Given advances in the technology, certain experts argued, it would not be too long before entire engines could be mass-produced from the hard, heat-resistant material.

Those experts were wrong. "The performance characteristics of an 'all-ceramic' engine are not that attractive, really," says John Heywood, a professor of mechanical engineering at the Massachusetts Institute of Technology.

Still, as automakers struggle to go easier on the environment, more ceramics will end up in cars, particularly for emissions control and cutting the weight of components. Publicly traded participants in the ceramics business, notably Ceradyne (nasdaq: CRDN - news - people ) and Japan's Kyocera, stand to benefit.

Some background: Ceramics are what you get when you shape and bake a nonmetallic mineral, such as clay. People have been making traditional ceramics--bricks, tiles and so on--for 30,000 years.

Advanced, or technical, ceramics refers to those made from synthetic raw materials. This category breaks down into three subsets: oxides (alumina, zirconia), non-oxides (carbides, borides, nitrides) and composites (combinations of oxides and non-oxides).

Whatever the category, ceramics have important advantages over other materials, namely metals and polymers. Ceramics are hard, relatively lightweight and chemically stable. They create less friction than metals and thus require less lubrication. Ceramics can also withstand high temperatures, which is why ceramic tiles are used to keep the space shuttle from igniting as it re-enters the Earth's atmosphere.

But ceramics have drawbacks too. They are brittle and so hard--silicon carbide is nearly as tough as diamond--that once a ceramic object is cast, it is very expensive and time-consuming, relative to materials like steel, to machine it.

"You can't just chuck it up in a mill and use conventional metalworking tools," says Joel Moskowitz, Ceradyne's founder and chief executive.

That poses a big challenge when it comes to engine components; auto parts makers manufacture them by the millions, and their geometry is often relatively difficult to cast.

"The biggest issue is reproducibility without flaws," says Vasantha Amarakoon, director of Alfred University's Center for Advanced Ceramic Technology.

Still, there is a modest amount of ceramic in the average car. Ceramics have been in spark plugs since the 1920s. They're also used for the heating strips in your rear-windshield (ceramic semiconductors), the magnets that raise and lower your windows, the honeycomb supports that help catalytic converters filter exhaust, and oxygen sensors (made from ceramic zirconia) that optimize combustion and reduce emissions.

Bigger components, like brake rotors, are found on Formula One racers and expensive sports cars from the likes of Ferrari and Porsche (other-otc: PSEPF.PK - news - people ). The rotors are pricey but coveted, because, unlike steel, their performance improves as they get hotter. They are also 10 pounds lighter than conventional rotors.

What does all this add up to for ceramics in cars? A niche with significant potential. "There's a lot of progress being made," says Nitin Padture, a professor in Ohio State University's Department of Materials Science and Engineering. Adds John Heywood of MIT: "There are a growing number of opportunities, particularly in the exhaust-treatment area."

Ceradyne's Joel Moskowitz agrees. "I wouldn't as a businessperson focus on going back to the days where people talked about ceramic engine blocks and turbo chargers and even piston components, he says, "But I do believe that this will be a constantly increasing market, greater than the growth of the industry itself."

Ceradyne has a long history with the auto business. In the late 1980s, Ford Motor (nyse: F - news - people ) took a 21% stake in the company but, strapped for cash, sold its position in 2003. These days, automotive applications make up less than 5% of Ceradyne's revenues--the bulk of its business lies in supplying lightweight body and vehicle armor to the U.S. military.

Yet Moskowitz sees promise in the automotive field, with environmental concerns as a driving force. To reduce pollutants, he explains you need to improve combustion through higher temperatures and more pressure. Ceramics are well-suited for both.

From Ceradyne's automotive product roster, Moskowitz cites the company's cam follower components for diesel engines, as well as its shims, used for putting together an engine or a valve train. A very thin fastener, the latter is made of metal but has a ceramic surface.

Produced by ESK Ceramics, a German subsidiary that Ceradyne acquired in 2004, these shims are one-third lighter and, Moskowitz says, four times as effective at locking parts together as traditional washers.

"It's certainly 'green,' because you reduce the weight," says Moskowitz. "You increase the life of the engine, because after 50,000 miles, your engine isn't starting to lose bolts and nuts."

ESK's fasteners now produce about $10 million to $20 million in annual revenue for Ceradyne, largely on sales to makers of high-end cars. Moskowitz says sales are increasing at a 20% annual clip and sees potential for the product to move into mainstream auto manufacturing.

And while Moskowitz has given up on the dream of the ceramic engine block, he indicates that Ceradyne is also exploring the production of bigger components, such as ceramic composite brakes and clutch plates. "We're going to take a harder look," he says.

Note to investors: If you deem Ceradyne an intriguing story, consider that its shares seem bargain-priced at just six times the average Thomson IBES analyst forecast for 2008 earnings per share. The stock also looks cheap relative to recent history, selling at multiples of price-to-earnings, -sales, -cash flow (in the sense of net income plus depreciation), and -book value that all stand below five-year averages.

But tread cautiously. As noted, Ceradyne owes its fortunes largely to copious government spending on body armor over the last few years. Recently, the stock took a 28% dive after the company reported earnings that missed Wall Street expectations and lowered its guidance on uncertain funding from the Department of Defense.

Richard Lee Whittington, an analyst with JSA Research, is a Ceradyne skeptic. "How many 'Iraqs' and 'Afghanistans' is the United States going to be engaged in over the next decade?" he asks.

If Ceradyne's military predicament is not to your tastes, try Kyocera. The Japanese concern touts the environmental advantages of its ceramic auto components, which include exhaust-control valves, diesel fuel injection components and gas-turbine components. Kyocera's New York-listed shares go for 18 times expected earnings for 2008.

[Krueppl]

Hört sich für mich immer so an als wäre bei Ceradyne so ein bisschen Panik ausgebrochen.

Gestern Crucibles, heute Motorteile. Die suchen mit allen Mitteln nach Alternativen für die Regierungsaufträge. Das kann auch in die Hose gehen ;-)

[meinolf67]

Antwort auf Beitrag Nr.: 33.594.802 von Krueppl am 10.03.08 09:51:54

Moment, das ist kein Artikel VON Ceradyne, sondern einer ÜBER Ceradyne.

Und welchen Schwerpunkt sich ein Verfasser raussucht, ist dessen persönliche Sache.

Moskowitz bleibt in seinen Präsentationen immer konsistent:

2 "billion-dollar-opportunities": BULL + Aluminium
"Crucibles are very attractive" - deren Hervorhebung kommt von mir...

[meinolf67]

Ceradyne, (News) Inc. (Nasdaq:CRDN) Chief Executive Officer Joel P. Moskowitz is scheduled to present at the Citi Small and Mid-Cap Conference scheduled for March 17-19, 2008 at the Four Seasons at Mandalay Bay in Las Vegas.

Mr. Moskowitz's presentation will address the Company's proprietary advanced technical ceramics technology, business fundamentals, market expansion and revenue diversification strategies, and outlook for 2008. This presentation will webcast live beginning at 3:45 p.m. PDT on Wednesday, March 19, on Ceradyne's website at www.ceradyne.com in the Investor Relations section. The presentation will also be archived on the website.

[Krueppl]

Wird immer billiger



Langsam sollte man überlegen ob man nicht seine Anleihe Quote gegen Null fährt.

[meinolf67]

01.04.2008 13:58
Ceradyne gets $41.1M ceramic body armor order from U.S. Army

BOSTON (Thomson Financial) - Ceradyne Inc. (News) Tuesday said it received a ceramic body armor delivery order for $41.1 million from the U.S. Army.

The order is for enhanced side ballistic inserts, the company said.

The order will be delivered from June through September.

Shares of Ceradyne, a Costa Mesa, Calif.-based maker of technical ceramic products, powders, and components, closed Monday at $31.95.

Casey Logan

[Krueppl]

Was ich mich derzeit frage:

Ist das der groß angekündigte Auftrag?!? Wohl eher kaum, sonst hätte man nicht angegeben, dass man mit Umsatzausfällen um die 100-200 Mio€ rechnet.

An sich aber schön mal ein dickes Plus zu sehen.

[Krueppl]

Ceradyne, Inc. Receives $32.3 Million ESAPI Order

Ausgezeichnet: damit kommen immer mehr Aufträge rein:



COSTA MESA, Calif. - (Business Wire) Ceradyne, Inc. (NASDAQ:CRDN) received a $32.3 million ESAPI (Enhanced Small Arms Protective Inserts) order to be delivered in the second and third quarter of 2008. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne’s practice is to only book firm delivery orders such as the above $32.3 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: “We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be additional delivery orders against the blanket ID/IQ contract this year.”

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission.

Ceradyne, Inc.
David P. Reed, President, North American Operations
714-549-0421, x8245
or

[meinolf67]

Ceradyne, Inc. to Present at Investment Conferences
Monday April 21, 7:30 am ET

COSTA MESA, Calif.--(BUSINESS WIRE)--Ceradyne, Inc. (Nasdaq:CRDN - News) executives are scheduled to present at four upcoming investment conferences in San Francisco and New York:
The Seventh Annual JMP Securities Research Conference at The Ritz
Carlton, San Francisco

Joel P. Moskowitz, Chairman and Chief Executive Officer

Tuesday, May 20, 2008; 10 - 10:30 a.m. PDT


6th Annual Wedbush Morgan Securities MAC: Management Access Conference

for Micro-Small-Mid-Cap Companies at the Le Parker Méridien New York

Jerrold J. Pellizzon, Chief Financial Officer

Wednesday, May 21, 2008; 8 - 8:40 a.m. EDT

FBR Capital Markets 12th Annual Spring Investor Conference at the
Grand Hyatt New York

Marc King, President of Ceradyne Armor Systems, Inc.

Thursday, May 29, 2008; 10:30 - 11:10 a.m. EDT

Stephens Inc. Spring Investment Conference at The New York Palace
Hotel

Joel P. Moskowitz, Chairman and Chief Executive Officer

Thursday, June 5, 2008; 1:30 - 1:55 p.m. EDT

Each of these presentations will be webcast live and available at www.ceradyne.com in the Investor Relations section, where the webcasts will also be archived. The presentations will address Ceradyne’s proprietary advanced technical ceramics technology, business fundamentals, market expansion and revenue diversification strategies, and outlook for 2008.

Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained therein, the presentations contain forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission.

[meinolf67]

Infobit:

laut Solarworld sollen Crucibles für 270kg Ingots etwa 300 Euro kosten.

Bei 10g SI pro Watt wären das dann crucible-Kosten von etwa 1,1c/Watt.

[Krueppl]

Das earningscall Transskrip ist draußen

http://seekingalpha.com/article/74164-ceradyne-inc-q1-2008-e…

Sehr sehr interessant zu lesen:

Zu den Crucibles: Ceradyne setzt wohl auch auf die neueren "größeren" Ingots für 450 anstatt 225 Kilo; Die sollen eine erheblich bessere Marge als die 225er bringen;

Gefällt mir gut was die schreiben

[meinolf67]

25.04.2008 12:48
Ceradyne 1Q net income and revenue top Wall Street estimates

LONDON (Thomson Financial) - Ceradyne Inc. (News) said Friday that first-quarter net income from operations fell to $48.9 million, or $1.20 a share, from $57.6 million, or $1.38 a share in the same quarter a year ago.

The maker of advanced technical ceramic products said revenue edged up to $188.5 million from $188.4 million.

The mean estimate of analysts polled by Thomson Reuters was for earnings of $1.12 a share on revenue of $184.1 million.

[meinolf67]

Ceradyne reiterates 2008 guidance, could meet high end
Friday April 25, 8:05 am ET
Ceradyne affirms 2008 guidance, says it could meet higher end of range if deal goes through

COSTA MESA, Calif. (AP) -- Ceradyne Inc., which makes ceramics used as military armor and in industrial processes, on Friday reiterated its 2008 outlook and said a potential deal could push its earnings to the high end of its guidance range.

The company said it expects earnings between $4.55 and $5.05 per share.

Analysts polled by Thomson Financial expect profit of $4.62 per share.

Ceradyne also said its revenue will likely be between $715 million and $836 million. Analysts anticipate revenue of $749.5 million.

The company said it will hit the high end of its profit and revenue range if it is awarded a contract to make combat vehicles.

[meinolf67]

"...The second item that we mentioned was the continued strength for our high purity ceramics crucibles, which are used in the manufacture of polycrystalline silicon for photovoltaic solar cells. We had stated earlier that we're in the process and we are purchasing 12 additional acres pretty close to our current facility in Tianjin, and we shortly will begin constructing a new 200,000 square foot ceramic crucible manufacturing facility, which we anticipate will be open sometime early next year. I'd like to point out that that's in addition to the 98,000 square foot facility that we opened on June 20, 2007, and that will give us about 300,000 square feet in China in manufacturing."

[meinolf67]

What's important to note that in terms of sales by market application, our defense sales were only 62.8% of the total sales this quarter compared to 77.4% the same quarter last year. So our strategic plan of getting a little more balance between defense and non-defense is working out very well.

[meinolf67]

"...Pierre Maccagno - Needham

On the quarter, I'm a little bit late here, but I wanted to ask you if you could talk a little bit more about the solar…

Jerry Pellizzon

Pierre, could you just speak up, because we didn't get the first part of the question, please?

Pierre Maccagno - Needham

Yeah. If you could expand a little bit more on the solar opportunities and your expansion plans?

Joel Moskowitz

Yeah, maybe I'll handle that. Bruce Lockhart is our President of that operation. He is in Atlanta and not on the call. Let me repeat, our product is this very high purity fused silica ceramic crucibles that are used in the manufacturing. These are single-use products, and therefore, the market is of a continuous nature. We could sell more if we could make more right now. And so, we are expanding both in Atlanta and in China.

Last year, our shipments were about $10.7 million of this product. This year, in our budget, it's about $53 million and I think it could be slightly higher. If there is some upside surprises later in the year this is where it will be. It will be closer and maybe closer to 60 than 50.

And in '09, assuming that our plant is on stream we'll double that and we're looking at $100 million to $135 million in '09. I recently had a briefing on this, both of internally as well as some solar shows that our people attended, and I believe that this market will increase at an increasing rate, primarily because of new sources of silicon. That's a bottleneck right now as many people know in both semiconductor as well as in solar.

But companies like Volker and Hemlock and others are putting on their own silicon manufacturing. And as that comes on stream, two things will happen. One, there will be more product and they will have to melt more and they will use more of our crucibles, which is our whole model, and the second thing is that price will come down. The pricing has been quite high on silicon, which acts as an inhibitor for our photovoltaic solar.

And as the price comes down of silicon, which is nothing to do with us, but does drive the total market, I think we're going to see more and more business. And our task at Ceradyne is to make sure that we can make these make them to the quality. We do have a secret that allows us to make what we believe is the highest purity crucible currently in the market."

[meinolf67]

Pierre Maccagno - Needham

On the quarter, I'm a little bit late here, but I wanted to ask you if you could talk a little bit more about the solar…

Jerry Pellizzon

Pierre, could you just speak up, because we didn't get the first part of the question, please?

Pierre Maccagno - Needham

Yeah. If you could expand a little bit more on the solar opportunities and your expansion plans?

Joel Moskowitz

Yeah, maybe I'll handle that. Bruce Lockhart is our President of that operation. He is in Atlanta and not on the call. Let me repeat, our product is this very high purity fused silica ceramic crucibles that are used in the manufacturing. These are single-use products, and therefore, the market is of a continuous nature. We could sell more if we could make more right now. And so, we are expanding both in Atlanta and in China.

Last year, our shipments were about $10.7 million of this product. This year, in our budget, it's about $53 million and I think it could be slightly higher. If there is some upside surprises later in the year this is where it will be. It will be closer and maybe closer to 60 than 50.

And in '09, assuming that our plant is on stream we'll double that and we're looking at $100 million to $135 million in '09. I recently had a briefing on this, both of internally as well as some solar shows that our people attended, and I believe that this market will increase at an increasing rate, primarily because of new sources of silicon. That's a bottleneck right now as many people know in both semiconductor as well as in solar.

But companies like Volker and Hemlock and others are putting on their own silicon manufacturing. And as that comes on stream, two things will happen. One, there will be more product and they will have to melt more and they will use more of our crucibles, which is our whole model, and the second thing is that price will come down. The pricing has been quite high on silicon, which acts as an inhibitor for our photovoltaic solar.

And as the price comes down of silicon, which is nothing to do with us, but does drive the total market, I think we're going to see more and more business. And our task at Ceradyne is to make sure that we can make these make them to the quality. We do have a secret that allows us to make what we believe is the highest purity crucible currently in the market.

[meinolf67]

...über Cookson gibt es auch einen Thread...: Thread: Crucibles für m-SI Ingots - "Weltmarktführer"???

Joel Moskowitz

Yeah, the question that Pierre asked -- he is very knowledgeable on the specifics of the solar industry -- is for long time the standard size was able to make 225 kilograms per run. And that's effectively most of the business we're doing, crucibles that handle 225 kilograms of silicon, about $50,000 worth of silicon every time the customer makes a run.

The next generation, which is actually in the field right now, is to double that. They call it the 450, because it makes 450 kilograms. And we believe that will be a good part of the future. So we've done two things. One, we have a facility in Atlanta that we had actually mothballed years ago with a huge tunnel kill. So we've reactivated that and we're making jumbo crucibles here in Atlanta. And also the new facility will be sized, all the slip casting molds, drying and firing, to make both standards in jumbos. We think the future will be jumbo because of the obvious economics to our customers. And it's very good business for Ceradyne because, as you said, the pricing, the average selling price is significantly higher than the 225s.

Pierre Maccagno - Needham

And finally, there could be a short supply of these crucibles, do you think the ASPs are going to go up or do you see any of that happening right now?

Joel Moskowitz

Well, we don't know. Right now, we're able to maintain the pricing. There are people who are trying to get into business. We are not the major supplier. The major supplier is a division of Cookson. We would represent that our product is quite good because of what I said earlier. There could be price pressures later on, not right now. Right now, the industry just wants to get as many as they can.

[meinolf67]

Thread: Crucibles für m-SI Ingots - "Weltmarktführer"???

[meinolf67]

Avinash Kant - Broadpoint Capital

A quick question going back on the solar side, I wanted to find out would you be able to comment on your market share that you have on the solar crucible side and what is the differentiation here? Is that the technology or the materials know-how that you have or is more about volume and pricing in that business?

Joel Moskowitz

Well, right now, as I said earlier, it really is driven by this terrific demand, and pricing is always a subject near and dear to our hearts. But it's basically driven by getting those crucibles into the field immediately. We make them, we ship them, they use then. I mean, it's just that simple. We hardly have any inventories.

Regarding our market share, we were late in this game. If it wasn't for some of the difficulties that our competitor had, we might not be in the game. But about seven, eight years ago, we were alerted BP Solar about these issues in the States. So, that was our first major thrust. And a year or two ago, I would have said we had about 15% of the market. I think that we probably have about 30% of the market right now. But the data has skimpy on that, but I would use that kind of number.

[meinolf67]

Joel Moskowitz

Okay. Well, I think that since Dave is involved in beefing up Minco silica, and as I said, we do have a proprietary, I referred to it as secret technology; I'll let Dave address new people who might want to come into the market.

David Reed

Well, we do view that there are some exceptional barriers to entry in this business. It's a very expensive process to melt this high purity silicon. And when you come in with your first crucible, if that crucible cracks or fails, then they leak molten metal into the furnace, ruin in the furnace, take it out of the line for several weeks to repair it. So, it's very difficult to get into the business and when you get into the business, to be successful, you have to have enough technology to not have real problems with your yields, the cracking and the drying and the firing of these products.

So, it's not easy. Our customers are very loyal and their margins are dependent on very high throughput and high yield on their end. So, they are not very likely to risk this product in their production capacity on some new players entering. So, we see it as very difficult for the new players to get into this market.

[Krueppl]

Ich wollt's nicht alles rausstreichen ;-)

Allerdings verssteiffst Du Dich meiner Meinung nach zu sehr auf die Crucibles; Das Aluminiumschmelzen - und der Bull sind denke ich für die nächsten 2 Jahre erstmal von größerer Bedeutung

Gruß
Matze

Langsam müsstest Du doch auch schon im Plus sein; Ist gut gelaufen in den vergangenen Wochen

[meinolf67]

Antwort auf Beitrag Nr.: 33.986.908 von Krueppl am 28.04.08 18:02:02

Stimme Dir voll zu, daß die Crucibles bis jetzt nur ein kleiner Teil sind.

Die Alu-Sache halte ich auch für potentiell mega-interessant, habe aber bisher noch keinen wirklichen Background dazu und aktuell auch nicht die Zeit, daran zu arbeiten.

Und für Rüstungskram interessiere ich mich nicht. (Ich weiß, daß das ein bißchen Shizo klingt...)

Auf LANGE Sicht glaube ich aber, daß Du vielleicht die Solarstory unterschätzt.

WENN die inzwischen weitverbreiteten Vorhersagen von >30GW bis 2012 zutreffen, dann ist der Markt bis dahin schlappe 6-8mal so groß wie letztes Jahr. Und das ist erst der Anfang...


CRDN ist bisher ein eher kleiner Teil in meinem Portfolio. Ih brauche üblicherweise einige Zeit, bis ich mich richtig traue. Und liege aktuell noch ein paar Prozent unter Wasser.

[Krueppl]

Jetzt gehts aber Schlag auf Schlag

[meinolf67]

...So what?
I tell you all this so that when you see that high-tech potter Ceradyne (Nasdaq: CRDN) reported nearly flatlined sales and a 13% decline in earnings last week, you'll understand why the shares continue to march upward. The reason, once again, is that (say it with me) Mr. Market is all about the future.

Earnings reports focus in large part on the past. To figure out what Mr. Market sees in Ceradyne, you have to go past the earnings report and find out what happened in the post-earnings conference call -- a task that has become infinitely easier in recent months, now that SeekingAlpha has begun compiling and publishing conference-call transcripts free of charge. Here are a few of the highlights I've cribbed from Ceradyne's call.

The best defense is defense
Much of Ceradyne's popularity as a stock is, rightly or wrongly, predicated on the view that this company lives and dies by the success of its sales to the U.S. military. It supplies ceramic plates for infantry body armor, produces lightweight armor for the military's LTAS program, and has potential contracts to build the second-generation successor to General Dynamics' (NYSE: GD), Force Protection's (Nasdaq: FRPT), Navistar's and BAE's various "MRAP" armored vehicles.

In this regard, the three most prominent near-term revenue drivers for Ceradyne are the military's XSAPI body-armor program, the "BULL" MRAP-II, and the LTAS. On XSAPI, Ceradyne tells us that "everything seems on line for [the five-year XSAPI/ESAPI proposal] awards to take place sometime mid to late Q3," with deliveries beginning most likely in October of this year. Likewise, we're still waiting for word on BULL contracts.

But the most interesting tidbit from the conference call concerned JLTV. According to Armor Operations VP Marc King: "There are significant opportunities for LTAS armor ... unfortunately, nondisclosure agreements prevent me from giving specifics. ... What I can tell you is that there are customer opportunities being worked right now, where those materials are now being turned into product applications for specific vehicles for ongoing testing and use going forward." Don't be surprised if we hear more on this subject soon.

One word: aluminum
Although defense gets the glory, CEO Joel Moskowitz confides that one of his "favorite subjects is aluminum smelting," a business where Ceradyne's products have already booked more orders in Q1 of this year than in all of last year. We're still talking "very little to low millions of dollars projected this year," but Moskowitz argues that aluminum is one of two "billion-dollar opportunities" for Ceradyne -- an opportunity equally as big as the more headline-grabbing prospects for building armored combat vehicles.

Hot as the sun
Aluminum may be Ceradyne's second big moneymaking prospect, but in the race for "sexy," it takes a back seat to yet another market opportunity: solar power. Yes, MEMC Electronic Materials (NYSE: WFR) and Corning (NYSE: GLW) shareholders, Ceradyne is gearing up to help solve the problem of bottlenecks in the global supply of polysilicon.

The products in question are "very high purity fused silica ceramic crucibles that are used in the manufacturing" of the polycrystalline silicon that helps make solar panels. Contrary to my initial belief, these "crucibles" are not at like the pots and pans hanging in your kitchen. Once they're used to whip up one batch of silicon, you don't toss them in the dishwasher to get them ready for another go-round. To the contrary, Moskowitz confirms that these are "single-use products, and therefore, the market is of a continuous nature."

In other words, the cycle from the silica makers' point of view appears to be: Buy a crucible, use a crucible, toss a crucible ... buy a new crucible. These are consumable products, and Ceradyne's market for them is exploding. Management expects to quintuple its 2007 sales to about $53 million this year and then more than double that figure again next year. Ceradyne owns about 30% market share for this product and could potentially grab more as the industry switches from the current 225 kilogram-capacity crucible to a new standard twice as large. Ceradyne's already gearing up to produce the new size in bulk, and as Moskowitz confirms, this is a "very good business for Ceradyne because ... the average selling price is significantly higher than the 225s."

Show me the money
One final word before we close. Products and sales are all well and good, but as investors, we're chiefly concerned with whether our companies earn profits and, preferably, free cash flow. Moskowitz lent some assurance on this score as well, in confirming that Ceradyne "had a $40 million free cash flow in Q1." He added, "We are going to be generating cash all year at something along that rate."

Good to know. And good to know, too, why the stock is going up.

[meinolf67]

AP
Ceradyne gets $31.5M ceramic body armor order
Wednesday May 14, 8:21 am ET
Ceradyne receives $31.5 million order from Army for ceramic body armor

COSTA MESA, Calif. (AP) -- Ceradyne Inc., which makes ceramics used as military armor and in industrial processes, said Wednesday it received a $31.5 million order from the Army for ceramic body armor.

The enhanced side ballistic inserts order for the Aberdeen Proving Ground in Maryland is set for delivery from September through November.

[Krueppl]

Einfach geil wie die abgehen;

Ist die Frage ob man nicht eine StopLoss Order setzen sollte; Obwohl ich von sowas überhaupt kein Freund bin ...

[Krueppl]

Eine der kleinen anenkündigten Akquisitionen

[/i]

Ceradyne, Inc. Acquires Oil Drilling Bearing Technology

Ceradyne, (News) Inc. (Nasdaq:CRDN) announced today that it has acquired certain patents and intellectual property covering a proprietary technical ceramic bearing solution for “down hole“ oil drilling. This intellectual property was acquired from a privately-owned business located in Greenwich, Rhode Island. The manufacturing of this product will be performed at Ceradyne's Lexington, Kentucky location. A key inventor of this new oil drilling bearing, Russell Ide, Jr., will be joining Ceradyne as a product manager responsible for bringing this unique solution into full production for use in the oil field.

The “stack bearing“ was developed using Ceradyne/ESK Ceramics' advanced technical ceramic, silicon carbide, for the bearing and erosion resistant surfaces. The bearing is anticipated to be rapidly accepted due to the reduction of drilling down time. Two other energy related bearing product lines will go into coal bed methane pumps and steam assisted oil extraction pumps.

Ceradyne paid approximately $4 million for this acquisition, and will pay a royalty of 3% of net sales of these bearings for the life of the patents.

This new product line will be incorporated into Ceradyne's Advanced Ceramic Operations under the leadership of David Reed, Ceradyne's President North American Operations.

Thomas Cole, Ceradyne's Vice President of Business Development, commented: “We are very pleased to have acquired this technology as it fits the Ceradyne vertical integration model very well. Through a unique design and the use of our erosion and corrosion-resistant silicon carbide ceramic, we believe this oil drilling product will rapidly become the new state-of-the-art for oil drilling bearings. Furthermore, we are pleased that Russ Ide, Jr. will be joining Ceradyne.“

Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,“ “believes,“ “plans,“ “expects,“ “intends,“ “future,“ and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended dated December 31, 2007 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission. [/i]

[meinolf67]

Antwort auf Beitrag Nr.: 34.253.533 von Krueppl am 06.06.08 12:46:55

warst schneller, ich wollte erst kaufen, aber Frankfurt ändert dauernd das ASK...

[meinolf67]

Antwort auf Beitrag Nr.: 34.254.438 von meinolf67 am 06.06.08 14:26:03

jetzt haben sie mir nochmal 500 Stk. gegeben.

mir gefällt dieser Kauf sehr gut.

Beim Öl wird noch VIEL Aktivität nachkommen.

Hbae Ceradyne Crucibles inzwischen bei mehreren Waferherstellern gesehen und mir scheint, dass Vesuvius bereits überholt wurde.

Außerdem liefert ESK offenbar auch SiC für die Sägen.

WENN man an das Wachstum der c-SI Technologie glaubt, dann kan man hier auf Dauer schön Trittbrett fahren...

[Krueppl]

Ich bin auch ziemlich überzeug von denen;

Insbesondere weils sie vorsichtig mit dem Geld der Aktionäre umgehen und einen schönen FreeCashFlow haben, den sie in Aktienrückkäufe stecken.

Unter 70$ habe ich nicht vor zu verkaufen

[meinolf67]

Antwort auf Beitrag Nr.: 34.254.954 von Krueppl am 06.06.08 15:17:29

Grenke ist zuletzt auch nett gelaufen, oder?

[Krueppl]

Joa,

zumal Grenke meine 2. größte Position ist.

Sind im Moment wirklich einige schöne Unternehmen zu günstigen Preisen unterwegs.

Interessant als US Unternehmen aus KSWS - ein Schuhhersteller, der - im Gegensatz zu Crocs eine Zukunft hat :-)

[meinolf67]

Antwort auf Beitrag Nr.: 34.265.112 von Krueppl am 09.06.08 09:35:49

Was hältst Du von Geox?

[meinolf67]

June 19, 2008 | about stocks: CRDN

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Ceradyne (CRDN) develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. It is a large supplier of ceramic body armor plates used to protect soldiers. It also makes high purity ceramic crucibles used in the manufacture of polycrystalline silicon for photovoltaic solar cells. This is definitely a growth area, but the market hasn’t tagged CRDN as an alternate energy stock as yet.

Next earnings report due: July

Market cap: $1 billion; EV: $940 million

The company is projected to earn $4.75 per share in the FY ending Dec ’08, and $5.05 next year. At the recent price of $38.50, the stock is trading at just 8x EPS. The company is generating a good amount of cash, in line with its net income, so effectively it is trading at 8x FCF too. Capex is running slightly above D&A, and working capital has been a minor source of cash. It is buying back its stock, which is nicely accretive at this valuation.

Why the low valuation? It looks like people are concerned that the military may reduce its orders as the war in Iraq winds down. This seems misplaced, as the company has not benefited to the extent that other military suppliers have from “one-time” war-related orders. The defensive nature of its products means that sales should remain steady in the future. The company’s booming solar crucible business is also not being reflected in its valuation.

Fair value $70 (15x calendar ’08 EPS estimate of $4.75).

[Krueppl]

Ui was war denn gestern los? Nachrichtenlos -8,5%?

[meinolf67]

Antwort auf Beitrag Nr.: 34.409.775 von Krueppl am 01.07.08 10:22:16

vielleicht das hier:

CRDN /OSK lose the word is out 28-Jun-08 07:44 am
Commanders call for lighter variants

DOD READYING FOR LAST ROUND OF MRAP VEHICLE CONTRACT AWARDS

_______________________________________________

Date: June 30, 2008


The Pentagon is sending additional Mine Resistant Ambush Protected trucks to Afghanistan to meet heightened demand just as the Army completes plans to award contracts for what could be its last batch of the armored-truck purchases.


A Senate aide told Inside the Army last week that 704 of the blast-proof trucks had been fielded in Afghanistan as of earlier this month, while another 104 were being readied for operations in the Central Asian nation.


Although ITA was unable at press time to ascertain the total number of MRAPs slated for Afghanistan, those 800 vehicles already represent a jump of several hundred over the total number anticipated just months ago, the aide said.


In January, an Army commander in Afghanistan said the request there was for just under 600 MRAPs, sister publication Inside the Navy reported at the time.


To the extent that the recent fierce fighting -- as well as theater commanders’ requests for lighter and more mobile versions of the vehicles -- influences the final round of orders, the buys expected next month could be good news for General Dynamics-Canada and may spell the end of the road for the Ceradyne-Oshkosh team’s bid to elbow its way into the MRAP fleet.

[meinolf67]

soory, wegen der späten Antwort zu FRO:

habe sie mir vor zwei Jahren mal angesehen, aber derzeit keine Kapazität frei.

wenn ich was mache, sage ich Dir Bescheid.

[Krueppl]

Kein Problem - ich habs nach ein bisschen Begutachtung liegen gelassen; Im Moment gibts mehr und bessere Sachen ;-)

[Krueppl]

Uii uiu uiu nicht untätig:
erst mal in Ruhe analysieren ;


Ceradyne, Inc. to Acquire SemEquip, Inc.

Ceradyne, (News) Inc. (Nasdaq: CRDN) announced today that it has signed a definitive Agreement and Plan of Merger to acquire SemEquip, Inc. for approximately $25 million in cash at closing, plus contingent payments of up to $100 million during the 15-year period following completion of the merger based upon revenues achieved over that period by SemEquip.

A portion of the closing date consideration and the contingent consideration to be paid by Ceradyne relates to a pre-closing commitment by SemEquip to pay incentive compensation to several of its employees and advisors. This incentive compensation will not increase the total consideration Ceradyne will pay for the acquisition, but it will require Ceradyne to record a pre-tax accounting charge estimated to be in the range of $9 million to $11 million in the quarter during which the acquisition is completed.

Privately held SemEquip, Inc., based in North Billerica, Massachusetts, is a leader in the development of cluster ion implantation sub-systems and advanced ion source materials for the manufacture of logic and memory chips. SemEquip has a significant patent portfolio related to the use of cluster chemicals in semiconductor ion implantation. SemEquip's technologies enable the utilization of cluster beam ion implantation for manufacturing the world's most advanced integrated circuits at the lowest cost and highest throughput.

This acquisition will expand Ceradyne Boron Products' business and will significantly extend Ceradyne's market opportunity in the semiconductor industry. Ceradyne acquired Ceradyne Boron Products, LLC (formerly EaglePicher Boron, LLC) in August 2007. Ceradyne Boron Products mainly produces the boron isotopes 10B and 11B.

The boron isotope 11B (Enriched Boron) is used as a "doping" agent in semiconductor processes where ultra-high-purity isotopic boron is required. This growing market currently accounts for approximately 40% of Ceradyne Boron Products' sales.

Enriched Boron is the key isotope used to manufacture the B18H22 ”cluster boron“ molecule that SemEquip's cluster ion beam implantation systems use to achieve next-generation performance in semiconductor ion implantation. B18H22 and related Cluster Chemicals will be manufactured by our Ceradyne Boron Products facility in Quapaw, Oklahoma.

David Reed, Ceradyne's President North American Operations, commented:

”The SemEquip acquisition follows the model we have successfully used in the past; that is, the vertical integration of raw material to final product. Ceradyne Boron Products, a 2007 acquisition, will produce the elemental boron for the Cluster Boron molecule and elemental materials for additional proprietary molecular products for SemEquip. A similar strategy was incorporated in the 2004 ESK Ceramics acquisition where ESK Ceramics produces the Boron Carbide powder for Ceradyne's U.S. armor operations, and again in the 2007 acquisition of Minco, where Minco produces the high-purity fused silica powder for use in Ceradyne's photovoltaic solar ceramic crucibles.“

Michael Kraft, Ceradyne's Vice President of Nuclear and Semiconductor Business Units, added: ”SemEquip leverages Ceradyne Boron Products' technology, complements our existing semiconductor business, and advances Ceradyne's strategy to grow commercial revenues through acquiring advanced materials businesses that have high-margin, recurring revenue streams that serve high-growth markets.“

The closing is anticipated in approximately 30 days, pending approval by SemEquip's shareholders. Upon completion of this acquisition, management will conduct a conference call to discuss SemEquip's business and its strategy in further detail.

[meinolf67]

menno!

Ich habe erst gelesen und Du warst schneller!

Glückwunsch!

[meinolf67]

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Ceradyne Ranks First in Aviation Week Study of Small Aerospace/Defense Companies

COSTA MESA, Calif.--(BUSINESS WIRE)--July 10, 2008--Ceradyne, Inc. (Nasdaq: CRDN) announced today that Aviation Week & Space Technology ranked it first in financial performance among thirty U.S. publicly traded aerospace/defense companies with annual revenue of $250 million to $1 billion.

Ceradyne's number one ranking is derived from four categories: return on invested capital, earnings momentum, asset management, and financial health. The ranking was published in the July 7, 2008 edition.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: "We appreciate that Ceradyne has been recognized by Aviation Week for its financial performance during a year when the Company has been highly active in integrating acquisitions, expanding into attractive new markets, and investing in the development of prototype next-generation armor systems for the U.S. military."

Eddie Belfield, Ceradyne's European Marketing Manager, will accept an award on behalf of the Company in recognition of its placement in the 2008 TPC (Top-Performing Companies) Study during a ceremony at the Farnborough International Airshow in Hampshire, England, on July 15, 2008.

[meinolf67]

July 11 (Reuters) - Friedman Billings Ramsey upgraded Ceradyne Inc (CRDN.O: Quote, Profile, Research, Stock Buzz) to "outperform" from "market perform" and said it expects the maker of ceramic products for defense applications to remain a major player in hard armor plates.

The brokerage, which maintained its price target of $45 on the stock, said shares of the Costa Mesa, California-based company were currently oversold due to uncertainty in the next round of contracts of its body armors, ESAPI and XSAPI.

The brokerage said the body armor program was expected to receive an additional funding of $2.2 billion by the end of the U.S. government's fiscal year and translate into strong order flow over the next two and a half months.

"The DOD (Department of Defense) plans to include body armor in the FY10 budget as a separate line item. This demonstrates the DOD's commitment to the program," analyst Brian Butler wrote in a note to clients. Butler said he expects Ceradyne, which makes ceramic inserts for body armor used by U.S. troops, to remain the primary maker of XSAPI and ESAPI, with a market share of around 60 percent.

Shares of the company rose to a high of $35.75, before paring some gains to trade up $1.28 at $35.15 Friday morning on Nasdaq. (Reporting by Lalitha Murali in Bangalore; Editing by Amitha Rajan)

[Krueppl]

Der einzige Wert der im Moment grün ist

[meinolf67]

15.07.2008 13:34
Ceradyne, Inc. to Release 2008 Second-Quarter Financial Results on Friday, July 25, 2008

Ceradyne, (News) Inc. (Nasdaq:CRDN) will release financial results for its 2008 second-quarter ended June 30, 2008 before the market open on Friday, July 25, 2008. Management will also conduct a conference call to review the Company's financial results and outlook for the remainder of 2008.

Any investor or interested individual can listen to the teleconference, which is scheduled to begin at 8 a.m. PDT (11 a.m. EDT) on July 25. To participate in the teleconference, please call toll-free 877-717-3046 (or 706-634-6364 for international callers) approximately 10 minutes prior to the above start time and provide Conference ID 55664991.

You may also listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. For those unable to attend, these web sites will host an archive of the call.

A telephone playback will be available beginning at 11 a.m. PDT on July 25 through 9 p.m. PDT on July 29, 2008. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 55664991.

[Krueppl]

Ich habe echt das Gefühl, dass da wieder jemand mehr weiß als wir;

Würde micht nicht wundern, wenn in den nächsten Tagen vor oder nach dem Halbjahresbericht etwas über die Regierungsaufträge kommt;

+20% in weniger als 2 Wochen - dazu noch bei einem abkackendem Dow und S&P ist schon wirklich höchst wunderlich;

[meinolf67]

Ceradyne, Inc. Reports Second-Quarter, Six-Month 2008 Financial Results
COSTA MESA, Calif., Jul 25, 2008 (BUSINESS WIRE) -- Ceradyne, Inc. (Nasdaq: CRDN) reported financial results for the second quarter and six months ended June 30, 2008.

Sales for second-quarter 2008 were $185.0 million, down slightly from $185.4 million in second-quarter 2007. Net income for second-quarter 2008 decreased to $33.2 million, or $1.25 per fully diluted share, compared to $38.3 million, or $1.38 per fully diluted share, in the second quarter of 2007. Fully diluted average shares outstanding for second-quarter 2008 were 26,539,000 compared to 27,786,000 in the same period in 2007. The lower average shares outstanding in the current period is due primarily to the repurchase of 1,128,000 shares under the Company's stock repurchase program announced on March 4, 2008.

Gross profit margin was 40.8% of net sales in second-quarter 2008 compared to 41.7% in second quarter 2007. The provision for income taxes was 36.3% in second quarter 2008, compared to 35.9% in second quarter 2007.

Sales for the six months ended June 30, 2008 were $373.5 million, down slightly from $373.8 million in the same period last year. Net income for the first six months of 2008 was $66.1 million, or $2.45 per fully diluted share, on 26,984,000 shares, down from $76.4 million, or $2.77 per fully diluted share, on 27,585,000 shares, for the six-month period in 2007.

Gross profit margin was 39.4% of net sales in the six months ended June 30, 2008, compared to 41.3% in the first six months of 2007. The provision for income taxes was 36.3% in the first six months of 2008, compared to 36.0% in the same period of 2007.

New bookings for second-quarter 2008 were $145.4 million, compared to $55.3 million for the same period last year. For the first six months of 2008, new bookings were $357.3 million, compared to $231.7 million for the comparable period last year.

Total backlog as of June 30, 2008 was $223.3 million, compared to total backlog at June 30, 2007 of $202.4 million.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented, "During the first half of 2008 Ceradyne continued to implement its strategy of global diversification in markets and products while continuing its commitment to lightweight ceramic personnel armor and emerging vehicle armor requirements. I am pleased to report several recent events which demonstrate Ceradyne's vertical integration strategic direction:

-- Acquisition of Oil Drilling Bearing Technology. On June 6, 2008, Ceradyne announced that it had acquired certain patents and intellectual property covering a proprietary technical ceramic bearing solution for "down hole" oil drilling. This technology utilizes silicon carbide advanced technical ceramics produced by the Company's German subsidiary, ESK Ceramics. The Company also announced that one of the inventors of this system, Russell Ide, Jr., has joined Ceradyne.

-- Ceradyne, Inc. to Acquire SemEquip, Inc. On July 9, 2008, Ceradyne announced that it had signed a definitive Agreement and Plan of Merger to acquire SemEquip, Inc. of North Billerica, Massachusetts, pending SemEquip's shareholder approval. SemEquip is a leader in the development of cluster ion implantation sub-systems and advanced ion source chemicals for the manufacture of logic and memory chips, including the B18H22 "cluster boron" molecule which uses Ceradyne Boron Products' enriched boron isotope 11B as its starting material. SemEquip's cluster ion beam implantation systems achieve next-generation performance in semiconductor ion implantation applications. Ceradyne intends to manufacture and market B18H22 and related Cluster Chemicals for this new semiconductor market.

-- China Expansion. Ceradyne has signed agreements to acquire an additional 13.7 acres of land in Tianjin, China, subject to certain approvals. The Company intends to build out approximately 330,000 sq. ft. of manufacturing facilities to house additional solar ceramic crucible expansion as well as manufacturing plans for other Ceradyne products. We anticipate these new facilities will be complete later in 2009."

Moskowitz further commented, "Initially, on February 26, 2008, and again on April 25, 2008, we provided the following guidance for all of 2008:

-- Sales range from $715 million to $836 million

-- Earnings range from $4.55 to $5.05 per fully diluted share

"Due to the potential magnitude of the BULL(TM) combat vehicle program, as well as the five-year XSAPI/ESAPI proposal, neither of which has been awarded, we have provided the 2008 guidance with an unusually wide range. The lower range reflects all of our current business units (even though multi-year XSAPI/ESAPI orders will not be issued before Q3 2008), but does not include any production orders for the BULL combat vehicle. The higher end of the range includes the lower end, plus production of the BULL combat vehicle in the second half of 2008."

However, we have recently received information on both the XSAPI/ESAPI five-year proposal as well as the MRAP II "BULL" testing status that permits us to provide the following revised guidance.

First, based on information we believe to be accurate, Ceradyne has qualified both its ESAPI as well as its XSAPI lightweight ceramic body armor systems for the upcoming ID/IQ (indefinite delivery, indefinite quantity) five-year procurement. In anticipation of an award in Q3 2008, we are planning to ship product in Q4 2008.

Secondly, based on informal input regarding testing of the Team BULL MRAP II (Ceradyne, Inc., Oshkosh Truck, Ideal Innovations), we believe we have successfully passed the most critical ballistic survivability and mobility requirements. We also continue to believe that the BULL's anti-EFP (Explosively Formed Penetrator) performance plus its independent suspension providing "offroad" capabilities result in a combat vehicle that may be suited for specific theatres. However, based on shifting requirements, we believe the government currently plans to purchase smaller, more mobile MRAPs; we do not believe there will be a significant 2008 BULL delivery order against the current ID/IQ contract in time to allow Ceradyne to make 2008 BULL shipments.

Therefore, based in part on our better than expected first half 2008 performance, anticipated fourth quarter XSAPI/ESAPI shipments, and assuming no 2008 BULL shipments, we are providing the following revised 2008 guidance:

-- Sales range from $740 million to $750 million

-- Earnings range from $4.70 to $4.80 per diluted share

The earnings range does not include the effect of the estimated $9.0 million to $11.0 million pre-tax charge which we expect to record in third quarter 2008 upon closing of the SemEquip acquisition.

[Krueppl]

An sich ein gutes Quartal;

Auch wenn das mit dem Bull wohl eher Essig wird;

Ich bin mal gespannt wie sie bei dem Markt heute starten;

[Krueppl]

@Meinolf;

Hast Du eine Ahnung wie schwer die Bulls von Ceradyne sind? Das Pentagon will wohl "ganz schwere" (30 Tonnen) nicht kaufen, weil sie die Straßen zu sehr beschädigen:

http://www.armytimes.com/news/2008/07/defense_MRAP_071708/

[Krueppl]

+10% das ist doch wohl wunderbar

[meinolf67]

SA:

...
Al Kaschalk - Wedbush Morgan

Sure. Let me try to restate my question. The consolidated margins were very strong in the quarter gross and one would think as you're diversifying away from a vertically integrated business and rolling in a couple of other acquisitions that may not have the revenue ramp yet, but could arguably be a little bit better margin business that would have dipped a little bit. So I'm just trying to square up my assumptions or expectations relative to the very good execution on the quarter.

Joel Moskowitz

Well, we have some exceptional margins as you know in the solar area.

Al Kaschalk - Wedbush Morgan

Yeah.

Joel Moskowitz

And that's covering an awful lot. The other areas, remember we expect the margin decrease with -- as vehicles become more important but they haven't yet, so you don't see that yet and I would say that the total package, even though we don't break it out is being influenced strongly by the surge in crucibles and whether that continues or not we will have to see. We are putting in an awful big facility in China, in anticipation we are also worried a bit about the supply of silicon metal going forward for our customers, even though if you read the reports on it, it's going to probably go maybe from a huge imbalance with demand exceed supply and then if everybody says they are going to make silicon which is not us, comes on stream that should be cured in the six to eight months.

[meinolf67]

"...Regarding oil, I spent personally, a lot of time now my last eight weeks in Canada and it's enormous what's going on. Ceradyne had a exhibit in Calgary, I think week or so ago. Its called the Oil Sands conference and they gave a lecture there. So they need a 100,000 rough nets up in Alberta province, the materials, they expect to triple their output of oil up to, I think 3 million to 4 million barrels a day, over the next 15 to 20 years.

Hopefully, we'll play a very important role, right now our work on the oil's end is minimal but we think by the end of next year we'll go from less than a few million dollars a year to tens of millions of dollars run-rate at the end of '09 and we're prepare to do that, most of the product coming out of our Lexington, Kentucky facility. Regarding the new acquisitions, that's very speculative our sales are very well now less than a million. The product is phenomenal. Ask me that question, Josephine, in about, maybe even the next quarter and I will give you a better answer."

[meinolf67]

"...Hey, Joel, congratulations, nice quarter. One of the things that you haven't touched on at all which you did in your annual report is the opportunity in the aluminum. And over the last couple of years it seems to me that there's been a very, very large increase in the significance of carbon dioxide reduction and I'm wondering if that's accelerating if you want to talk at all about what kind of reduction do you get in carbon dioxide by using the process that you're working on and any updates as far as timing?

Joel Moskowitz

Briefly aluminum is continues to be very important to Ceradyne. This is the smelting of aluminum. The manufacture of aluminum from the mineral bauxite, where we anticipate that we'll be able replace carbon electrodes with our electrically conducted titanium diboride. Actually we shift several millions of dollars in the first half on that just on prototype. So it's gotten past hundreds of thousands of dollars. And I've said in our annual report the opportunity could be a $1 billion plus market, I still feel that way and we are continuing to work on it.

The purpose of using titanium diboride to replace carbon is three-fold, first you reduce the amount of electricity by as much as 20%. Second, you decrease the carbon dioxide emissions, and I'll get to the percentages in a minute. And thirdly we believe, although it's been too early that we will increase productivity, increase cell life. On the CO2 currently when you make aluminum you put out more carbon dioxide than you do aluminum. And this is a serious problem in today's world, particularly with the focus on greenhouse gases and global warming.

So the answer to your question, [Les], is not absolutely clear because it depends how much you substitute. The reason you get carbon dioxide is because the oxygen that comes off the mineral grabs on to the carbon from the electrode. So if you change the electrode to titanium diboride it goes from being a (inaudible) to being a rain forest. You put out oxygen, not CO2. So there will be a reduction, whether it goes to zero or not depends on how much they use of ours and that gets into a little too much technology for this conversation. "

[Krueppl]

Der EarningsCall hört sich wieder sehr gut an;

Ich denke sie können die 50/50 Aufteilung und 1 Mrd.$ Umsatz in 2010 hinbekommen;

Gut ist auch, dass in der Guidance kein Bull enthalten ist - trotzdem aber ein ID/IQ Vertrag besteht; Theoretisch kann es also nur zu einer positiven Überraschung kommen, da die Army plötzlich nachfragen kann - im Moment aber keiner damit rechnet...

[meinolf67]

Ceradyne, Inc. Receives $8.4 Million Body Armor Delivery Order

COSTA MESA, Calif.--(BUSINESS WIRE)--July 28, 2008--Ceradyne, Inc. (NASDAQ:CRDN) announced the receipt of an $8.4 million delivery order from the United States Special Operations Command (USSOCOM), MacDill Air Force Base, Florida. The order is for modular supplemental armor protection as part of the family of Ballistic Plates for Body Armor Load Carriage Systems (BALCS) to be shipped beginning in August 2008 to February 2009.

David P. Reed, Ceradyne President North American Operations, commented: "This delivery order is our sixth BALCS delivery order issued by SOCOM against the maximum value $400 million indefinite delivery/indefinite quantity (ID/IQ) contract announced in January 2008. We are pleased to receive this order and believe we will meet all SOCOM delivery and quality requirements."

Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended dated December 31, 2007 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission.

[Krueppl]

mensch schon wieder schneller ;-)

[Krueppl]

Ich werde mir mal am Wochenende den aktuellen Earningscall von Oshkosh reinpfeifen; Die sind ja Partner beim BULL Vehicle;

Im Moment sind das - trotz der Solarperspektive - noch wichtige Einnahmen, daher bin ich mal gepsannt; Auch wenn der Aktienkurs nichts gutes erahnen lässt

[Krueppl]

Ich hab's mir mal angeschaut; An sich von den Fundamentaldaten her sehr interessant;

Aber 100%ig sagt es mir nicht zu; Boardmember hat mich auch auf den Oshkosh Treat hingewiesen, wo ich denn mal meine Meinung kundtue ;-)

[Krueppl]

Jetzt macht es sich deutlich bemerkbar, dass ich bei Dollarkursen um 1,55-1,58 gekauft habe; Obwohl Ceradyne sich selber nicht so richtig bewegt ist es in Euro grün ;-)

Allerdings macht mir der starke Sprung innerhalb von einem Monat echt Angst;

[Krueppl]

Muahahah wäre ja auch zu schön gewesen, wenn eine Aktie um 50% steigt, während der Markt um 20% fällt;

@ Meinolf: noch da?

[meinolf67]

Antwort auf Beitrag Nr.: 35.040.201 von Krueppl am 09.09.08 20:40:40

klar doch; bin Langfristinvestor

[Krueppl]

Antwort auf Beitrag Nr.: 35.045.005 von meinolf67 am 10.09.08 08:59:20

Ich auch

Obwohl es mir bei einem Anstieg von 50% innerhalb von 6 Wochen doch manchmal in den Fingern juckt, da denn oft eine schöne Korrektur kommt;

[meinolf67]

Ceradyne, Inc. Provides XSAPI/ESAPI Clarification
COSTA MESA, Calif., Sep 10, 2008 (BUSINESS WIRE) -- Ceradyne, Inc. (Nasdaq:CRDN) announced that it is aware of a protest filed with the Government Accounting Office by a bidder on the anticipated multi-year XSAPI/ESAPI contract. The referenced award will be delayed unless the Army overrides the protest on urgent and compelling grounds. If the protest is not overridden, the award would most likely be delayed, resulting in lower shipments and earnings in Q4 2008 for Ceradyne.

Ceradyne understands that various government officials and interested politicians believe the award should not be further delayed because of the protest.

On July 25, 2008, the Company provided the following guidance for 2008: Sales range from $740 million to $750 million and earnings range from $4.70 to $4.80 per diluted share.

Based on the above information, the Company is providing revised 2008 guidance.

-- Sales range from $710 million to $750 million

-- Earnings range from $4.25 to $4.80 per diluted share.

The lower end of the sales and earnings range assumes that an XSAPI award would be made to Ceradyne late 2008 with only one month of XSAPI shipments in Q4 2008.

Note: The earnings range does not include the effect of the estimated $10 million pre-tax charge in third quarter 2008 related to the SemEquip acquisition.

[Krueppl]

Auf dem Yahoo Board wird munter diskutiert, ob die Aufschiebung nicht auch einen guten Punkt hat:

Könnte es sein, dass Ceradyne ein sehr gutes Ergebnis erzielt hat, wenn sich die anderen Wettbewerber derart ins Zeug legen - bei der GOA rechtiche Schritte einzulegen?

Ich habe unterdessen mal geschaut welche Konkurrenten Ceradyne bei den XSAPI's hat. Da wären:

Ceradyne ~30%
Armor Works 10%
Cercom ~6 (BAE)
Force One ~5
Composix ~5
Armor Holdings ~5 (jetzt BAE)

Problem die sind fast alle nicht börsennotiert:

Armor Holdings ist von BAE Systems Anfang 2007 für 4,5 Mrd $ gekauft worden:
Das war zu folgenden Kennzahlen: (Im Vergleich Ceradyne)
KUV: 2.1 (1.1)
KGV: ~30 (7)
KBV: 5 (1.4)

Allerdings machte die Sparte - zu denen die "Body Armor" von denen zählte nur 1/4 des Umsatzes; Der Rest waren andere militärische Sachen;
Für den letzten Geschäftsbericht:
http://www.sec.gov/Archives/edgar/data/845752/00009501360700…

[Krueppl]

Ein "Mini Auftrag":

Sponsored by:
CRDN 35.21, -2.58, -6.8%) announced that it has received a $25.1 million order for SAPI (Small Arms Protective Inserts) lightweight ceramic body armor. The order was issued by the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The Company expects to begin shipments in late 4th quarter 2008, with completion prior to May 1, 2009. The order is a Foreign Military Sales (FMS) requirement.

[meinolf67]

06.10.2008 12:31
Ceradyne, Inc. Receives $2.37 Billion XSAPI/ESAPI Body Armor 5 Year ID/IQ (Indefinite Delivery/Indefinite Quantity) Contract

Ceradyne, (News) Inc. (NASDAQ:CRDN) announced that it has received an ID/IQ contract for both its XSAPI and ESAPI personal ceramic armor plates from the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The total amount of this contract is approximately $2.37 billion and covers a period of approximately five years. Simultaneously, Ceradyne received the first delivery order for First Article Testing (FAT) valued at $943,000 scheduled for shipment by November 2008. This initial FAT order is for both XSAPI and ESAPI armor plates.

This ID/IQ contract is for both XSAPI and ESAPI armor plates (front and back). The U.S. Army can order one or both types of plates over the 5 year life of the contract. The contract provides for a minimum of 500 plates per year to a maximum of 240,000 plates per year.

Ceradyne's practice with all ID/IQ contracts is to record as backlog only the portion of the contract which has firm delivery orders issued against the total contract. In this particular case, Ceradyne initially will only book Delivery Order 0001 for $943,000 for FAT plates.

David P. Reed, Ceradyne President North American Operations, commented: ”This ID/IQ contract is by far the largest body armor contract Ceradyne has ever received. We are very pleased to receive this contract and believe that the government's decision was based in good part on the performance of our actual XSAPI and ESAPI plates which were submitted in response to the Army's original Request for Proposal, as well as our past performance in body armor procurements relating to both delivery and quality. We also believe that the Company's investment in our Lexington, Kentucky and Irvine, California manufacturing facilities will allow us to meet any quantity demand against this contract, including the potential maximum quantities.“

Reed continued: ”Ceradyne's vertical integration strategy, from beginning with manmade raw materials, to ceramic fabrication, to armor assembly and final testing, allows us to control all quality aspects, as well as making our Company's product competitive.“

Reed further commented: ”We strongly believe the XSAPI plate is especially required in the field to defeat next generation armor piercing projectiles and protect American fighting men and women's lives. We expect that once the initial FAT plates are evaluated that there will be a series of volume production delivery orders issued to us against the total $2.37 Billion ID/IQ contract.“

This type of ID/IQ award gives the government a wide range of flexibility as to what it orders and in what timeframe it requires delivery. As I stated above, we believe the fielding of XSAPI is urgent. As we have done in the past, we will continue to announce delivery orders that are issued and provide longer range visibility as we receive it from the government.“

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[Krueppl]

Ich würde behaupten, dass das ganz gut ist

[meinolf67]

Jupp;


Ceradyne, Inc. Receives $73 Million XSAPI Body Armor Order

COSTA MESA, Calif.--(BUSINESS WIRE)--

Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received a delivery order for $73 million for XSAPI body armor plates. This order is the first production delivery order against the $2.37 billion ID/IQ (Indefinite Delivery/Indefinite Quantity) contract announced on October 6, 2008. This production order is scheduled to be completed within the next twelve months. Delivery commencement is subject to approval of the First Article Testing (FAT) order which was placed simultaneously with the large ID/IQ contract.

David P. Reed, Ceradyne President North American Operations, commented: "We are pleased to have received this initial volume production delivery order against the large five year procurement ID/IQ contract announced earlier this week. We believe that this will be the first of a series of volume production delivery orders to be issued against the ID/IQ five-year contract."

[Krueppl]

Ich versuche die ganze Zeit herauszubekommen, welche Quote der letzten Verträge letztendlich genommen wurde;

Ceradyne liefert seit 1995 Schutzwesten für die Army;
Der erste Auftrag 1995 hatte ein Volumen von 3.5 Mio. $.

Der letzte vergleichbare Auftrag 2004-2008 hatte ein Volumen von 747 Mio. $



Wenn beispielsweise im Laufe der Zeit 75% der 2,7 Mrd. $ wirklich als Auftrag vergeben werden, dann ist Ceradyne zu dem Preis ein ziemlich sicheres Schnäppchen;

Bei 75% Quote und Margen von ~40% für die Westen wären das ~800 Mio Gewinn in den nächsten 5 Jahren; Etwas abgezinst und Du bekommst das restliche Geschäft (was ja völlig ohne Perspektive ist) umsonst dazu

[Krueppl]

Sag mal wo hast Du eigentlich die 46% EK-Rendite her die im Treattitel stand?

Gruß
Matze

[meinolf67]

Antwort auf Beitrag Nr.: 35.545.286 von Krueppl am 13.10.08 10:41:36

Hatte ich zum Zeitpunkt der Threaderöffnung aus der letzten Jahresbilanz abgeleitet (also wohl die 2006er).

Rechne in meinem Excel: Gewinn des Jahres/(EK per Jahresende-Gewinn)

Dinge wie Dividenden, unterjährige Kapitalerhöhungen, Aktienrückkäufe, etc. berücksichtige ich dabei nicht...


Sorry wegen der bisher fehlenden Antwort zu BYD; habe aktuell einfach zuviele Baustellen

[Krueppl]

Ich hatte für 2006 ein EK von ~22$ bei einem Gewinn von 4.69 macht 21%

Selbst beim BW zum 31.12.2005 (15.43$) kam bei mir nur 30% raus;

Ist aber unerheblich solange man es durchgängig macht;



Kein Problem mit BYD; Wenn die Sonne wie im Moment an der Börse scheint muss man feiern ;-)

[meinolf67]

Q3-Zahlen sind da.

Sie scheinen alles Schlechte dort reingepackt zu haben.

Crucible-Sales sind RÜCKLÄUFIG ???

[meinolf67]

28.10.2008 12:01
BRIEF-Ceradyne Q3 results

- Oct 28 (Reuters) - Ceradyne Inc: (News)

* Q3 earnings per share $0.73 - SEC filing

* Q3 net sales $167.7 million

* Reuters Estimates Q3 earnings per share view $1.13, revenue view $183.19

million

* Sees 2009 earnings per share $3.00-$3.25, assuming no 'pure fleet' increase

in army related xsapi

* Sees 2009 sales $640 million-$650 million, assuming no 'pure fleet' increase

in army related xsapi

* Q3 earnings per share hurt by charges of about $0.31 per share

* Reuters Estimates Q4 earnings per share view $0.93, revenue view $169.81

million

* Reuters Estimates FY 2009 earnings per share view $4.47, revenue view $734.43

million

((Bangalore Equities Newsroom; [phone]; within U.S. [phone]))

[e-mail]

[meinolf67]

Ceradyne, Inc. Reports Third Quarter, Nine-Month 2008 Financial Results

COSTA MESA, Calif.--(BUSINESS WIRE)--Oct. 28, 2008--Ceradyne, Inc. (Nasdaq:CRDN) reported financial results for the third quarter and nine months ended September 30, 2008.

Sales for third-quarter 2008 were $167.7 million, compared with $191.6 million in third-quarter 2007. Net income for third-quarter 2008 decreased by $13.3 million or 40.6% to $19.4 million, or $0.73 per fully diluted share, compared to $32.7 million, or $1.16 per fully diluted share, in the third-quarter of 2007. Net income for third-quarter 2008 includes a previously announced non-recurring pre-tax acquisition related compensation charge of $9.8 million associated with a pre-closing commitment related to SemEquip, Inc., which we acquired in August 2008, to pay incentive compensation to certain employees and advisors and a pre-tax charge of $3.0 million from an other-than-temporary reduction in the value of our investments in auction rate securities. The non-recurring after-tax acquisition related charge amounted to $6.2 million or approximately $0.24 per fully diluted share and the after-tax other-than-temporary reduction in the value of our investments in auction rate securities charge was $1.9 million or approximately $0.07 per fully diluted share. These two charges had a combined negative impact on net income of approximately $0.31 per fully diluted share in the third-quarter 2008.

Gross profit margin was 39.7% of net sales in third-quarter 2008 compared to 39.6% in the same period in 2007. The provision for income taxes was 36.1% in third-quarter 2008, compared to 39.6% in the same period in 2007. Fully diluted average shares outstanding were 26.6 million for the third quarter 2008 compared to 28.1 million for the third quarter 2007. The lower average shares outstanding in the current quarter is due primarily to the repurchase of 1.1 million shares under the Company's stock repurchase program announced on March 4, 2008.

Sales for the nine months ended September 30, 2008 were $541.3 million, compared with $565.4 million in the same period last year. Net income for the first nine months of 2008 was $85.5 million, or $3.18 per fully diluted share, on 26.9 million shares, compared to $109.0 million, or $3.93 per fully diluted share, on 27.7 million shares, for the nine-month period in 2007. Net income for the first nine months of 2008 includes a non-recurring pre-tax acquisition related compensation charge of $9.8 million related to a pre-closing commitment by SemEquip, Inc., to pay incentive compensation to certain employees and advisors and a pre-tax charge of $3.5 million from an other-than-temporary reduction in the value of our investments in auction rate securities. The non-recurring after-tax acquisition related charge amounted to $6.2 million or approximately $0.23 per fully diluted share and the after-tax other-than-temporary reduction in the value of our investments in auction rate securities charge was $2.3 million or approximately $0.09 per fully diluted share. These two charges had a combined negative impact on net income of approximately $0.32 per fully diluted share for the first nine months of 2008.

Gross profit margin was 39.5% of net sales in the nine months ended September 30, 2008 compared to 40.7% in the same period in 2007. The provision for income taxes was 36.3% in the first nine months of 2008, compared to 37.1% in the same period in 2007.

New bookings for third-quarter 2008 were $119.4 million, compared to $163.6 million for the same period last year. For the first nine months of 2008, new bookings were $476.6 million, compared to $395.3 million for the comparable period last year.

Total backlog as of September 30, 2008 was $174.9 million, compared to total backlog at September 30, 2007 of $173.1 million.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented, "I think it would be helpful to our shareholders if I explained certain activities which Ceradyne management is focusing on for the future. Additionally, because of the state of the capital markets, I will discuss the Company's strong balance sheet as well as review the balance of 2008 and provide our initial guidance for 2009.

With the additional visibility we have for Q4 2008, we now provide revised guidance for all of 2008 as follows:

-- Sales range from $695 million to $700 million

-- Earnings range from $4.00 to $4.15 per fully diluted share.

The foregoing includes the negative impact of the above discussed $0.32 per fully diluted share which is made up of the non-recurring pre-tax charges of $9.8 million related to the SemEquip acquisition and the $3.5 million pre-tax other-than-temporary reduction in the value of our investments in auction rate securities.

We believe our shipments of XSAPI body armor in the fourth quarter will be modest and will consist primarily of the First Article Test parts.

"In October 2008, we received the largest contract ever awarded to Ceradyne for the next generation of ceramic body armor plates, XSAPI, as well as for the current ESAPI plates, from the U.S. Army REDCOM, Aberdeen Proving Grounds, Maryland. Of this $2.37 billion ID/IQ (Indefinite Delivery/Indefinite Quantity) 5-year contract, we have now received approximately $73 million in initial orders consisting of First Article Test parts, as well as production components. On Monday, October 27, 2008, the Department of the Army issued a 120-day "Stop Work Order" on the Initial Production Delivery Order 0002 for $72 million but not on the Initial First Article Test Order 0001 on this ID/IQ contract. We believe that this Stop Work Order is attributable to a protest filed by BAE Systems. We anticipate the protest will be resolved in a short period of time.

Although the ID/IQ contract is for both XSAPI and ESAPI body armor, we expect the Army to primarily order only XSAPI under this contract, which would most likely result in total orders under this 5-year procurement of less than the full $2.37 billion contract amount.

"Although we believe that the government may increase its requirements for XSAPI to a "pure fleet" (i.e., full deployment of XSAPI) strategy, we cannot project that decision at this time. Assuming our normal order flow of SAPI, ESAPI sustainment, non "pure fleet" XSAPI, and Special Forces armor, we expect our body armor shipments will be approximately $125 million less in 2009 than in 2008. This reduction in shipments will be partially offset by increased sales of our ceramic crucibles for solar cell applications, which we anticipate will double to about $80 million in 2009, and increased sales in other non-defense areas, such as by our ESK Ceramics subsidiary in Kempten, Germany. Assuming no "pure fleet" increase in Army related XSAPI, our initial guidance for 2009 is as follows:

-- Sales range from $640 million to $650 million

-- Earnings range from $3.00 to $3.25 per fully diluted share

"This assumes an annual tax rate of 36% with fully diluted average shares of 26.5 million."

Mr. Moskowitz continued: "As of September 30, 2008, our cash, cash equivalents, restricted cash and short-term investments totaled approximately $215 million. In addition, we have approximately $29 million in auction rate securities which are classified as long-term investments due to their illiquid status."

Joel Moskowitz further stated, "Ceradyne management will continue to focus on the areas we have repeatedly discussed. These include acquisitions, defense products including armor for military vehicles, solar energy and ceramics for the smelting of aluminum. Also, it is interesting to note that with the projected decline of body armor shipments, our 2009 guidance includes revenues from body armor equal to only about 40% of total net sales, down from over 80% less than two years ago. The Company anticipates further growth in non-defense products and will continue to generate strong monthly cash flow in 2009."

Mr. Moskowitz added: "We plan to expand all areas of our operations, particularly industrial and solar related. We are evaluating new operations in China and Singapore and anticipate expansion of our operations in Germany and Atlanta, Georgia."

Ceradyne will host a conference call today at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss its 2008 third quarter results. To participate in the teleconference, please call toll free 877-717-3046 (or 706-634-6364 for international callers) approximately 10 minutes prior to the above start time and provide Conference ID 68371741. Investors or other interested parties may listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. These web sites will also host an archive of the teleconference. A telephonic playback will be available beginning at 11:00 a.m. PDT today through 9:00 p.m. PDT on October 30, 2008. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 68371741.

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information can be found at the Company's web site: www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date thereof.

CERADYNE, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)

Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------
2008 2007 2008 2007
--------- --------- --------- ---------
(Unaudited) (Unaudited)
NET SALES $167,746 $191,606 $541,258 $565,408
COST OF GOODS SOLD 101,082 115,819 327,504 335,125
--------- --------- --------- ---------

Gross profit 66,664 75,787 213,754 230,283
OPERATING EXPENSES
Selling 8,443 6,872 24,966 19,617
General and administrative 11,703 11,280 35,208 30,218
Acquisition related charge 9,783 - 9,783 -
Research and development 4,527 5,680 10,979 13,561
--------- --------- --------- ---------

34,456 23,832 80,936 63,396
--------- --------- --------- ---------

INCOME FROM OPERATIONS 32,208 51,955 132,818 166,887
--------- --------- --------- ---------

OTHER INCOME (EXPENSE):
Royalty income 5 30 65 105
Interest income 1,772 3,281 6,273 9,542
Interest expense (1,026) (1,094) (3,130) (3,154)
Miscellaneous (2,581) (103) (1,908) 54
--------- --------- --------- ---------

(1,830) 2,114 1,300 6,547
INCOME BEFORE PROVISION FOR
INCOME TAXES 30,378 54,069 134,118 173,434
PROVISION FOR INCOME TAXES 10,979 21,419 48,621 64,392
--------- --------- --------- ---------

NET INCOME $ 19,399 $ 32,650 $ 85,497 $109,042
========= ========= ========= =========

BASIC INCOME PER SHARE $ 0.74 $ 1.20 $ 3.22 $ 4.00
========= ========= ========= =========

DILUTED INCOME PER SHARE $ 0.73 $ 1.16 $ 3.18 $ 3.93
========= ========= ========= =========

WEIGHTED AVERAGE SHARES
OUTSTANDING:
BASIC 26,272 27,304 26,568 27,231
DILUTED 26,563 28,052 26,888 27,766

CERADYNE, INC.
UNAUDITED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)

September 30, December 31,
2008 2007
------------- ------------
(Unaudited)
CURRENT ASSETS
Cash and cash equivalents $204,486 $155,103
Restricted cash 2,699 2,660
Short-term investments 7,900 29,582
Accounts receivable, net of allowances
for doubtful accounts of approximately
$1,038 and $792 at September 30, 2008
and December 31, 2007, respectively 64,138 85,346
Other receivables 8,360 5,704
Inventories, net 101,039 92,781
Production tooling, net 13,997 16,632
Prepaid expenses and other 29,880 12,391
Deferred tax asset 12,816 12,455
------------- ------------
TOTAL CURRENT ASSETS 445,315 412,654
------------- ------------
PROPERTY, PLANT AND EQUIPMENT, net 252,461 243,892
LONG TERM INVESTMENTS 29,489 38,089
INTANGIBLE ASSETS, net 84,491 37,578
GOODWILL 46,484 46,848
OTHER ASSETS 3,731 4,225
------------- ------------
TOTAL ASSETS $861,971 $783,286
============= ============


CURRENT LIABILITIES
Accounts payable $29,156 $ 35,990
Accrued expenses 26,492 22,483
Income taxes payable 788 258
------------- ------------
TOTAL CURRENT LIABILITIES 56,436 58,731
LONG-TERM DEBT 121,000 121,000
EMPLOYEE BENEFITS 14,102 13,650
OTHER LONG TERM LIABILITY 41,501 4,985
DEFERRED TAX LIABILITY 5,677 6,291
------------- ------------
TOTAL LIABILITIES 238,716 204,657
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value,
100,000,000 authorized, 26,273,611 and
27,318,530 shares issued and
outstanding at September 30, 2008 and
December 31, 2007, respectively 264 272
Additional paid in capital 154,430 185,702
Retained earnings 446,798 361,301
Accumulated other comprehensive income 21,763 31,354
------------- ------------
TOTAL SHAREHOLDERS' EQUITY 623,255 578,629
------------- ------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $861,971 $783,286
============= ============

CERADYNE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)

Nine Months Ended
September 30,
--------------------
2008 2007
--------- ----------
(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 85,497 $ 109,042
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES:
Depreciation and amortization 30,122 17,948
Deferred income taxes 421 (2,014)
Stock compensation 2,233 1,842
Loss on marketable securities 3,545 -
Loss on equipment disposal 125 794
Change in operating assets and liabilities
(net of effect of businesses acquired):
Accounts receivable, net 22,680 (12,995)
Other receivables (3,597) (1,735)
Inventories, net (5,079) (16,927)
Production tooling, net 2,597 1,480
Prepaid expenses and other assets (18,005) (1,167)
Accounts payable and accrued expenses (5,456) (4,418)
Income taxes payable 549 (11,042)
Other long term liability 10,350 6,964
Employee benefits 1,014 1,237
--------- ----------

NET CASH PROVIDED BY OPERATING ACTIVITIES 126,996 89,009
--------- ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment (35,938) (28,343)
Changes in restricted cash (39) (2,633)
Purchases of marketable securities - (363,317)
Proceeds from sales and maturities of
marketable securities 21,700 397,912
Cash paid for acquisitions, net of cash
received (26,855) (98,606)
Proceeds from sale of equipment 24 -
--------- ----------

NET CASH USED IN INVESTING ACTIVITIES (41,108) (94,987)
--------- ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of stock due to
exercise of options 302 603
Proceeds from issuance of stock for stock
plans - 1,085
Excess tax benefit due to exercise of stock
options 287 4,133
Shares repurchased (34,919) -
Other - 48
--------- ----------

NET CASH (USED IN) PROVIDED BY FINANCING
ACTIVITIES (34,330) 5,869
--------- ----------

EFFECT OF EXCHANGE RATES ON CASH AND CASH
EQUIVALENTS (2,175) 1,708
--------- ----------

INCREASE IN CASH AND CASH EQUIVALENTS 49,383 1,599
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 155,103 13,547
--------- ----------

CASH AND CASH EQUIVALENTS, END OF PERIOD $204,486 $ 15,146
========= ==========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Interest paid $ 1,744 $ 1,756
Income taxes paid $ 62,692 $ 67,286

[meinolf67]

28.10.2008 12:29
Ceradyne: Einmaleffekte belasten Ergebnis
Costa Mesa (aktiencheck.de AG) - Die amerikanische Ceradyne Inc. (ISIN US1567101050 (News)/ WKN 869651) musste im dritten Quartal angesichts sinkender Umsatzerlöse einen Ergebnisrückgang hinnehmen.

Wie der auf Schutzbekleidung aus Keramikarmierungen spezialisierte Konzern am Dienstag erklärte, lag der Umsatz im Berichtszeitraum bei 167,7 Mio. Dollar, nach 191,6 Mio. Dollar im Vorjahreszeitraum. Der Nettogewinn wurde auf 19,4 Mio. Dollar bzw. 73 Cents je Aktie beziffert, nach 32,7 Mio. Dollar bzw. 1,16 Dollar je Aktie im Vorjahreszeitraum. Das Ergebnis im Berichtsquartal beinhaltet dabei negative Einmaleffekte in Höhe von insgesamt 31 Cents je Aktie in Zusammenhang mit Wertberichtigungen sowie der im August abgeschlossenen Übernahme der amerikanischen SemEquip Inc. Analysten hatten zuvor ein EPS von 1,11 Dollar sowie einen Umsatz von 182,7 Mio. Dollar erwartet.

Für das laufende Quartal liegen die Markterwartungen bei einem EPS von 91 Cents sowie einem Umsatz von 174,0 Mio. Dollar.

Für das laufende Fiskaljahr erwartet der Konzern ein EPS aus dem laufenden Geschäft im Bereich von 4,00 bis 4,15 Dollar, während der Umsatz bei 695 bis 700 Mio. Dollar liegen soll. Für das laufende Geschäftsjahr gehen Marktbeobachter von einem EPS von 4,53 Dollar sowie einem Umsatz von 728,8 Mio. Dollar aus.

Im Geschäftsjahr 2009 erwartet Ceradyne einen Gewinnrückgang beim um Einmaleffekte bereinigten Gewinn je Aktie auf 3,00 bis 3,25 Dollar. In diesem Zusammenhang wurde auf einen zu erwartenden Nachfragerückgang bei gepanzerten Schutzwesten verwiesen, der nur teilweise durch andere Geschäftsbereiche ausgeglichen werden könne. Analysten gehen für das Fiskaljahr 2009 von einem EPS von 4,83 Dollar aus.

[Krueppl]

Autsch

[meinolf67]

aus dem CC:

Joel Moskowitz

Before we take the next question, I wanted to bring in a separate subject that I thought people might ask about but haven’t, and that’s the very large future market for a smelting of aluminum. We’ve brought this up constantly. We’re doing a few million dollars a year. Probably, that would be about the same in ’09.

But recently, we’ve accelerated our efforts and have actually formed an ad hoc test force headed by the President of ESK Ceramics, Thomas Jungling, which includes various senior people in the industry that we’re retaining to help us penetrate and accelerate this market. And I just want to put out some more information so that everybody understands that this is one remainder of the two billion dollar markets that we referred to; one, of course, we’ve already mentioned which is armor for military vehicles, and this is the other one.

When you make aluminum, you produce more carbon dioxide than you do aluminum. Carbon dioxide is a greenhouse gas and the World Bank, where Ceradyne is in communications with, is monitoring the Kyoto Protocol and would state that the target will be 5% less CO2 based on a 1990 base, which is equivalent to about 26% reduction from here. So here you have a whole industry putting out perhaps as much as 100 million tons of carbon dioxide.

The two largest polluters in Canada are aluminum companies, and aluminum is going to be one of the materials that will help our environment, will help our economy because of its light weight, weighing about 30% of the weight of the steel. And Ceradyne believes it has a solution to reduce the cost, reduce the electricity, increase the capacity, and increases the life of the cells as well as to reduce and possibly eliminate pollutants. And we are now working with everyone on this, meaning governments as well as companies; and we’re very excited about it. A question that was asked – I was asked about four questions ago was, “Are we going to tighten our belts on SG&A and that sort of thing?” And Michael Kraft said, “Well, in some areas, of course, we will on some of these newer operations.” I’ll tell you where we won’t. We won’t in the research going into this new exciting program. This could be Ceradyne in five or ten years with the space of armor that we have, and it’s an exciting area. We have a very proprietary product. And before we went down the continued questioning on the body armor, which is appropriate, was even though it’s less, it’s still going to be 40% of our shipments next year. Don’t lose sight of these other programs. That’s the end of my monologue.

[meinolf67]

Ceradyne, Inc. Receives $21.9 Million ESAPI Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Nov. 5, 2008--Ceradyne, Inc. (NASDAQ:CRDN) received a $21.9 million ESAPI (Enhanced Small Arms Protective Inserts) order to be delivered late in 2008 with completion in 1st quarter 2009. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne's practice is to only book firm delivery orders such as the above $21.9 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: "We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be additional delivery orders against the blanket ID/IQ over the next 9 months."

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

[meinolf67]

Ceradyne, Inc. Earns Kronos Best Practices Award

COSTA MESA, Calif.--(BUSINESS WIRE)--Dec. 3, 2008--Ceradyne, Inc. (NASDAQ: CRDN) earned a distinguished Kronos Incorporated Best Practices Award. Kronos presented the Best Practices Award to Ceradyne, Inc. during an awards ceremony at the KronosWorks Worldwide Customer Conference held October 19-22 in Orlando, Florida. The award recognizes individuals and organizations that have achieved unprecedented value and success through the effective implementation and deployment of a Kronos solution.

Seven finalists were chosen from applications received from around the world. Accepting the award on behalf of Ceradyne were Donna Vlha, Business Systems Manager, and Mark Nguyen, IT Project Manager and Kronos implementation lead.

Ceradyne, Inc., a worldwide leader in the development and production of advanced technical ceramics, was recognized for best practices in engaging its workforce in implementing the Kronos software solution. In an effort to develop leaner manufacturing practices while positively impacting employee morale, Ceradyne incorporated Overall Labor Effectiveness, a unique key performance indicator developed by Kronos, which provides the cumulative effect of workforce utilization, performance, and quality in a single metric. Comprehensive reports at all levels, ease of use, and improved system performance were key factors in maximizing the user experience and meeting the overall objectives.

Mark Nguyen commented: "If there is one thing that is common to virtually all manufacturers, it is that they face incessant pressure to lower costs while maintaining high quality. Most manufacturers have already automated as many aspects of production as possible, so the final frontier for wringing costs out of the process is to increase productivity. This is a challenge because increased productivity that truly improves a company's performance only comes through improving the cumulative effect of labor availability, performance, and quality."

Ceradyne's Chief Financial Officer, Jerrold J. Pellizzon, added: "Our entire Kronos implementation team is to be congratulated for their excellent work in helping us to continue to reduce costs. This award is indicative of the outstanding people at Ceradyne that continue to add value for our shareholders."

[Krueppl]

??? irgendeine Meldung die ich verpasst habe??? -22% für heute

[Krueppl]

Und das bei einem riesigem Volumen

[Krueppl]

Na fein:

Stanford is out downgrading Ceradyne (NASDAQ: CRDN) to Hold from Buy after the co lowered its FY08 and FY09 guidance at an investor conference yesterday after the market close. The company reduced its FY09 sales guidance from $640-650 million to $600 million and EPS guidance from $3-3.25 to $2.30 due to pricing pressure in solar, XSAPI body armor delay, and weakening demand for its industrial business.

Firm lowers FY09 sales and EPS estimates to $596M and $2.29. They believe there is still downside risk to management’s new guidance due to uncertainty from the XSAPI rebid after BAE Systems (BAESY, Not Rated) withdrew its protest. According to sources, the Army is considering splitting the XSAPI business more evenly amongst the winners, which means Ceradyne could end up with less than the previously awarded 64% market share. In addition, management assumes it maintains the 75% market share on the new side plates (ESBI), but the scope and timing remains uncertain.

They downgrade Ceradyne to a HOLD and reduce price target from $23 to $18 based on new estimates.

Notablecalls: What's so great about this dg? Well, there is no PR out on this warning. Short at will. This baby will go down hard. I'm guessing $21-$22 range. And don't cover until the PR.

[meinolf67]

Antwort auf Beitrag Nr.: 36.239.959 von Krueppl am 19.12.08 16:14:36

Not Cool, Ceradyne

By Rich Smith
December 24, 2008 | Comments (2)

Hello. My name is Rich, and I'm a Ceradyne (Nasdaq: CRDN) shareholder. It's been five days since I last trusted management ...

Last week, Ceradyne investors saw their stock sell off 20% on a day of no apparent news. The shares have continued sliding, with management remaining mum -- not a press release, not an SEC filing. The only clue to why shares are tumbling comes from a pair of obscure announcements concerning a "Security and Defense Conference-At-Your-Desk" that was held Thursday by Arkansas investment banker Stephens Inc.

What's a "conference at your desk?"
It's a bit like a "party in your mouth," only less fun. Fool staffer TMFBreakerWade (Wade Michels) tuned into said conference and gave us the lowdown. (Read all about it by taking a free 30-day trial subscription to Motley Fool Rule Breakers.)

* You know how Suntech (NYSE: STP), MEMC Electronic (NYSE: WFR), SunPower (Nasdaq: SPWRA), and basically everybody who's anybody in solar have been wrecked this year? Well, the damage is spreading. Pertinently, Vesuvius Crucible Co., a subsidiary of London's Cookson Group and one of Ceradyne's primary competitors, is having trouble selling ceramic crucibles (used to bake the silicon that goes into solar power cells) in China. Vesuvius is cutting prices to move inventory; Ceradyne decided to cut prices in tandem to preserve its 30% share of this market.
* Lower prices mean lower revenue, and Ceradyne walked back guidance to about $600 million for the year.
* Previous expectations of a per-share profit of $3.00-$3.25 have proven a pipe dream, and we're now looking for something more like $2.30.

Now, I could go into detail here about how $0.50 of the profits reduction owes to the "solar issue," another $0.15 is from a delay in the Pentagon ordering XSAPI body armor, $0.10 more from general worldwide economic malaise, and a final dime from one of the most arcane tax accounting issues it's ever been my displeasure to read through. But I want to close with a few words to Ceradyne management.

Shame on you
Shame, in particular, on CEO Joel Moskowitz, for prefacing his conference call with the following statement: "I thought it would be most helpful to Stephens and anybody calling in if we treated this as a webcast full disclosure presentation so we could ... meet the requirements of Reg FD." (Regulation Fair Disclosure requires the release of important information to all shareholders simultaneously.)

If I might be so bold as to remind Mr. Moskowitz: He may have founded the company, but ever since he took it public, the shareholders have owned it. Not some fancy-pants investment banker named "Stephens." Not just those shareholders who were able to leave work early enough to catch the conference call, the contents of which were known to few beforehand. But all of us.

There's a difference, you see, between "treating" an obscure webcast as if it were full disclosure, and honoring the spirit of Fool disclosure that's inherent in Reg FD. Reducing guidance without so much as issuing a press release is something a company the size of Ceradyne should know better than.

A time for redemption
The saddest part of all this is that it didn't have to happen. Ceradyne could have realized its mistake and implemented damage control by following in General Electric's (NYSE: GE) footsteps, for example. Just last week, GE CEO Jeff Immelt held a conference on Wall Street, explaining the outlook for his company's industrial operations. No sooner had he spoken, then out came a detailed press release telling everyone who might be interested exactly what he had told the bankers.

Or for an even better example of shareholder friendly management, Ceradyne could have imitated peer manufacturer Corning (NYSE: GLW). Much like Ceradyne, Corning is going through a rough patch right now. (And how!) Yet no matter how bad things get, Corning makes a point of issuing a press release before a conference happens, telling investors what its execs plan to tell everybody else at said conference. That's not just fair disclosure, folks. It's bending over backward to protect the interests of the little guy.

Ceradyne shareholders deserve no less.

[meinolf67]

Ceradyne, Inc. Receives $12.1 Million ESAPI Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Feb. 20, 2009-- Ceradyne, Inc. (NASDAQ: CRDN) received a $12.1 million ESAPI (Enhanced Small Arms Protective Inserts) order to be delivered in the first and second quarter of 2009. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne’s practice is to only book firm delivery orders such as the above $12.1 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: “We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be additional delivery orders against the blanket ID/IQ contract this year.”

[meinolf67]

Ceradyne, Inc. Reports Fourth Quarter, Twelve-Month 2008 Financial Results

COSTA MESA, Calif.--(BUSINESS WIRE)--Feb. 24, 2009-- Ceradyne, Inc. (Nasdaq:CRDN) reported financial results for the fourth quarter and twelve months ended December 31, 2008.

Sales for fourth-quarter 2008 were $138.9 million, compared with $191.4 million in fourth-quarter 2007. Net income for fourth-quarter 2008 decreased by $13.9 million or 39.7% to $21.3 million, or $0.81 per fully diluted share, compared to $35.2 million, or $1.28 per fully diluted share, in the fourth-quarter of 2007. Net income for fourth-quarter 2008 includes a pre-tax charge of $2.3 million from an other-than-temporary reduction in the value of our investments in auction rate securities. This charge had a negative impact on net income of approximately $0.06 per fully diluted share in the fourth-quarter 2008.

Gross profit margin was 37.1% of net sales in fourth-quarter 2008 compared to 39.6% in the same period in 2007. The provision for income taxes was 30.3% in fourth-quarter 2008, compared to 33.7% in the same period in 2007.

Sales for the twelve months ended December 31, 2008 were $680.2 million, compared with $756.8 million for the twelve months ended December 31, 2007. Net income for the twelve months ended December 31, 2008 was $106.8 million, or $4.00 per fully diluted share, on 26.7 million shares, down from $144.3 million, or $5.20 per fully diluted share, on 27.7 million shares, for the twelve-month period in 2007. Net income for the twelve months ended December 31, 2008 includes a pre-tax acquisition related compensation charge of $9.8 million associated with a pre-closing commitment by SemEquip, Inc., which we acquired in August 2008, to pay incentive compensation to certain employees and advisors, and a pre-tax charge of $5.9 million from an other-than-temporary reduction in the value of our investments in auction rate securities. These charges had a combined negative impact on net income of approximately $0.38 per fully diluted share in the year ended December 31, 2008.

New bookings for fourth-quarter 2008 were $90.2 million, compared to $258.0 million for the same period last year. For the twelve months ended December 31, 2008, new bookings were $566.8 million, compared to $651.3 million for the twelve months ended December 31, 2007.

Total backlog as of December 31, 2008 was $126.4 million, compared to total backlog at December 31, 2007 of $238.9 million.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented,

“We are pleased that even as we entered the significant global economic downturn, our Company was able to meet its revised 2008 earnings guidance with full-year 2008 financial results of $4.00 per fully diluted share on sales of $680 million.

“Perhaps as important as our income statement in this economic environment is our strong year-end balance sheet with cash and cash equivalents and short-term investments of $221.4 million. With over $8 per share in cash and cash equivalents and short-term investments, and a book value exceeding $23 per share, we are comfortable in our ability to continue to invest in our future, take advantage of acquisition targets of opportunity and maintain our strong liquidity position in an uncertain global economy.

“Although as of today we have not received the XSAPI production armor order, we have received the draft of the amended production Request for Quotation and believe the orders will be released later in Q1 or early Q2 2009, with related XSAPI sets to be delivered in calendar 2009.

“However, Ceradyne is concerned about the delays in armor orders, as well as what we view as uncertainty in our industrial markets, particularly our European markets headed by ESK Ceramics in Kempten, Germany. Therefore, because the situation is unclear, we believe it is advisable to revise the 2009 guidance we provided in December 2008 of $2.30 per fully diluted share on sales of approximately $600 million to a range of sales of $465 million to $500 million with earnings of $1.60 to $2.00 per fully diluted share.”

Moskowitz further commented: “We have recently committed to the acquisition of an additional 13.7 acres in Tianjin, China, on which we plan to build a production plant of approximately 200,000 square feet for the production of our ceramic crucibles used in the manufacturing of polysilicon photovoltaic solar cells. We anticipate we will spend $22 million on this state-of-the-art factory which will include our proprietary ‘pre-coating’ technology. Although we expect a modest increase in solar demand early in 2009, we believe the combination of lower cost silicon, worldwide demand for clean alternative energy, and U.S. and other country’s subsidies and stimulus investments will result in an improving 2009 picture and robust 2010 demand. Our newest factory will be located near our current Tianjin factory and is expected to be up and running later this year.”

Moskowitz concluded by stating, “Ceradyne management is aware of the uncertainties the current global economy is presenting. In the short run, we intend to bring our costs and headcount into line with actual sales. However, we will continue to invest in the future while preserving our strong cash position and liquidity.”

Ceradyne will host a conference call today at 8:15 a.m. PST (11:15 a.m. EST) to review the financial results for the quarter and the year ended December 31, 2008. Investors or other interested parties may listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. These web sites will also host an archive of the teleconference. A telephonic playback will be available beginning at 11:00 a.m. PST today through 9:00 p.m. PST on February 27, 2009. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 86920958.

Ceradyne

[meinolf67]

$8,60 cash/Aktie

[meinolf67]

aus dem CC:

"Joel P. Moskowitz
Well right now regarding our strategy we've said for several, when we talked about longer rating strategy that we
anticipated and we are shooting for a company that was approximately 50:50 defense and non-defense. And as things
had evolved with the market, one even with these numbers we see the market for armor reduced to its current level and
of course that just reduced it in getting closer to the 50:50 and then as you just add the ESK is going to have a weak
year in '09, and so that kind of brings both into line with the revised guidance that we gave. Regarding your question of
the non-defense area, the area that I believe as of this minute is about as exciting as it's ever been with some of the
negative press is the solar energy, a scenario that we have what we believe is a proprietary product, which is the purity
of the fused silica remember we bought the company that made the raw materials Minco in Tennessee about two years
ago that's been a terrific acquisition. So, we have the capacity we have the purity and now based on the German R&D
efforts the real example of working together and integration they are the ones who developed this coating, so that when
the melt the silicon to make the photovoltaic solar cells, the silicon adjust for that crucible as clean as the [LPAS] and
that's so terribly important we also have reports recently as this week, which maybe displayed in Munich in solar
convention in a few weeks that the use of our crucibles actually enhances the efficiency, which is a big deal because it
doesn't cost the manufacturer any more money and they get a better product. So, how material is this, the next
question I think we will have about 70 million or so in shipments of solar crucibles this year, which is up significant
(Audio Disturbance). And you may have seen it out, there was a report from a research firm recently that they
specifically said our type of crucibles they were projecting I think by 2013 or 2015, a market of $1.1 billion, if we
maintain our market share that that product alone will be hundreds of million of dollars at good profit margins. So, that's
a potential breakdown,

[R-BgO]

Ceradyne, Inc. Receives $77 Million XSAPI Body Armor Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Mar. 31, 2009-- Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received a delivery order for approximately $77 million for XSAPI ceramic body armor plates. Ceradyne will begin shipping this XSAPI production release in the second quarter of 2009 and expects to complete the order in the fourth quarter of 2009. The release was issued under the $2.37 billion five- year ID/IQ (Indefinite Delivery/Indefinite Quantity) contract announced earlier in October 2008. The Company also announced it has successfully completed all First Article Testing and associated lot testing on its related ESAPI and XSAPI designs.

This approximately $77 million initial XSAPI production order replaces the $73 million XSAPI production order announced by Ceradyne on October 9, 2008; that order was subsequently withdrawn when a competitor protested the award.

As is Ceradyne’s policy, we book as orders only actual releases with firm delivery dates. Therefore, this release of approximately $77 million will become part of our backlog and not the $2.37 billion five-year ID/IQ contract.

David P. Reed, Ceradyne President North American Operations, commented: “We are extremely pleased to have been awarded this XSAPI contract. Although it was delayed, we intend to ship this release in its entirety in calendar 2009. Our large installed industrial base should allow us to provide the Army its XSAPI requirements with on-time deliveries and high quality. We believe that our track record on ESAPI and our vertically integrated strategy; i.e., from powder to final product, has been instrumental in our winning over 70% of the government’s needs.

“This new armor system was designed by Ceradyne’s extensive ceramic, polymer and ballistic research team here in Costa Mesa and Irvine, California. The XSAPI design is the most robust ballistic protection available to our American fighting men and women. It not only stops the most lethal ‘X’ ballistic threats, but also defeats other threats that the former ESAPI and SAPI systems were designed to address as well.”

Reed further commented: “During the balance of 2009, our engineers and senior staff will be working with the military to more clearly define battlefield threats and deployment plans through the year 2013.”

[R-BgO]

Ceradyne, Inc. Receives $8.1 Million SAPI Body Armor Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Apr. 14, 2009-- Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received an $8.1 million order for SAPI (Small Arms Protective Inserts) lightweight ceramic body armor. The order was issued by the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The Company expects to begin shipments in the second quarter of 2009, with completion prior to September 10, 2009. The order is a Foreign Military Sales (FMS) requirement.

David Reed, President of North American Operations, commented: “We are very pleased to receive this additional FMS body armor order. We believe that the government placed this order with Ceradyne, at least in part, due to its reliable delivery, quality performance on previous SAPI procurements and competitive pricing. This is a new order from the U.S. Army and should not be confused with the XSAPI/ESAPI 5-year procurement previously announced.”

[Depotmahlzeit]

Antwort auf Beitrag Nr.: 36.964.449 von R-BgO am 14.04.09 13:38:48

haben die schon mal eine Dividende gezahlt?

[R-BgO]

Antwort auf Beitrag Nr.: 37.068.490 von Depotmahlzeit am 29.04.09 23:40:30

ich glaube nein

[R-BgO]

Ceradyne, Inc. In Cost Cutting Measure Will Close Manufacturing Plant in France

COSTA MESA, Calif.--(BUSINESS WIRE)--May. 19, 2009-- Ceradyne, Inc. (Nasdaq:CRDN) announced today that, in accordance with the French legal process, its ESK Ceramics France subsidiary (“ESK France”) is presenting to the local employees’ representatives a plan for closing its manufacturing plant in Bazet, France, effective later this year. As a result, it is anticipated that ESK France will reduce its workforce by approximately 95 employees, primarily composed of manufacturing, production and additional support staff at the plant. This action is being implemented as a cost-cutting measure to eliminate losses that were incurred at this facility due to the recent severe economic contraction and is consistent with Ceradyne’s ongoing objective to lower the costs of its manufacturing operations.

This manufacturing facility is an 88,000 square foot building owned by ESK France that has been used to support the production of various industrial ceramic products. Production of these products will be transferred to its German subsidiary, ESK Ceramics GmbH & Co. KG (“ESK Ceramics”) in Kempten, Germany.

Affected employees will be eligible for a severance package that includes severance pay, continuation of benefits and outplacement services. Pre-tax charges relating to this corporate restructuring will also include various other costs to close the plant. The total pre-tax charges are estimated to be in the range of approximately $11.0 to $13.0 million, including non-cash pre-tax charges of approximately $2.2 million relating primarily to assets that will be written off or disposed of in connection with the closure of the facility. The majority of these pre-tax charges will be accrued during the second quarter of 2009. Although discussed in the April 28, 2009 teleconference, these non-recurring pre-tax charges were not included in the updated earnings guidance provided during that teleconference.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “The contributions made by all members of the team at Bazet are sincerely appreciated. This strategic decision was difficult but necessary to ensure that ESK Ceramics in Germany focuses its resources and invests appropriately in the production and marketing of products that represent significant value to its customers.

“Our entire ESK Ceramics management team as well as the rest of the Ceradyne organization is focused on the challenges of the global economic downturn. Our plan is to continue to 'right-size' our company without compromising our dedication to manufacturing high-quality products at the lowest possible costs and emerge from this recession as a more efficient company.”

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information can be found at the Company’s web site: www.ceradyne.com.

[R-BgO]

Ceradyne, Inc. Receives $7.3 Million ESAPI Order

COSTA MESA, Calif.--(BUSINESS WIRE)--May. 21, 2009-- Ceradyne, Inc. (NASDAQ:CRDN) received a $7.3 million ESAPI (Enhanced Small Arms Protective Inserts) order scheduled to be delivered in the third quarter of 2009. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne’s practice is to only book firm delivery orders such as the above $7.3 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: “We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be additional delivery orders against the blanket ID/IQ contract this year.”

[R-BgO]

Ceradyne, Inc. Acquires Business, Assets and Intellectual Property of Diaphorm Technologies, LLC
Acquired Product Line Provides Future Growth Opportunity; Submits Proposal to Marines

COSTA MESA, Calif.--(BUSINESS WIRE)--Jun. 9, 2009-- Ceradyne, Inc. (Nasdaq:CRDN) announced today that it has acquired substantially all of the business and assets and all technology and intellectual property related to ballistic combat and non-combat helmets of Diaphorm Technologies, LLC, based in Salem, New Hampshire. The purchase price consists of $9.5 million in cash paid at closing, the assumption of approximately $300,000 of liabilities, plus contingent consideration not to exceed $10 million over the next 5 years based upon performance milestones and revenues achieved during that period from Diaphorm’s existing products and new products developed using Diaphorm technology. Ceradyne used a portion of its existing cash for the payment made at closing.

Ceradyne also announced today that it submitted a proposal to the U.S. Marine Corps Systems Command (MARCORSYSCOM) in response to solicitation M67854-09-R-3025 for the procurement of Enhanced Combat Helmets (ECH). The Marine Corps, now in conjunction with the U.S. Army PEO Soldier, intends to procure prototype combat helmets with the option to field production helmets to both services.

Ceradyne’s strategy is to combine its successful track record in body armor programs with the proprietary helmet-forming technologies of Diaphorm to create a world class manufacturer of Enhanced Combat Helmets. Ceradyne-Diaphorm’s Enhanced Combat Helmet will provide substantively increased levels of protection, utilizing high-volume repeatable manufacturing with reliable on-time delivery to support expedited procurements.

Diaphorm was founded in 2004 to conduct research and to manufacture and market ballistic helmets. Diaphorm currently manufactures polymer based ballistic helmets for law enforcement, security and paramilitary markets. In addition to its patent portfolio, Diaphorm has recently filed multiple patent applications around their helmet and plate manufacturing methods and Ceradyne anticipates that there will be additional filings in the future. Diaphorm’s projected 2009 annual sales are estimated to be in the $3-4 million range for all of calendar year 2009. The contribution to Ceradyne’s estimated net income for the fiscal year ending December 31, 2009 from this acquisition is estimated to be immaterial.

David Reed, Ceradyne Vice President and President of North American Operations commented: “I am extremely pleased and excited over this acquisition. The acquisition paves the way for our entry into the protective combat and non-combat helmet market. This acquisition combines excellent technology with our ability to produce high-volume protective products for military applications. We’re also pleased to announce that yesterday we submitted the Ceradyne-Diaphorm response to the multi-year U.S. Marine/Army Enhanced Combat Helmet urgent and compelling substantial requirement.”

Christopher Meyers, head of CJM Investments Corp. and primary shareholder of Diaphorm Technologies, LLC, stated, “We are thrilled to find the perfect home for Diaphorm Technologies. Ceradyne’s proven track record in providing quality personal protection solutions to the U.S. Military, coupled with Diaphorm’s market leading thermoplastic forming technologies, creates a compelling force in the ballistic protection market.”

Teleconference

Management will conduct a conference call to discuss the Diaphorm acquisition at 8:00 a.m. PDT on Thursday, June 11, 2009. To participate in the teleconference, please call toll-free 877-717-3046 (or 706-634-6364 for international callers) approximately 10 minutes prior to the start of the call. One may also listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. For those unable to attend, these Web 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 for international callers) and providing Conference ID 14061368.

Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications. Additional information about the Company can be found at www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended dated December 31, 2008 and its Quarterly Reports on Form 10-Q as filed with the U.S. Securities and Exchange Commission.

Source: Ceradyne, Inc.

[R-BgO]

Antwort auf Beitrag Nr.: 37.352.269 von R-BgO am 09.06.09 13:33:57

scheint aber nichts mit Keramik zu tun zu haben...

[R-BgO]

und das hier wird eine Unsitte:


Ceradyne, Inc. Issues Revised Fiscal 2009 Revenue and Earnings Guidance
Cites Reduced Armor Shipments and Delays, Weakened Industrial Demand

COSTA MESA, Calif.--(BUSINESS WIRE)--Jun. 9, 2009-- Ceradyne, Inc. (Nasdaq: CRDN) announced today 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 its Bazet, France, manufacturing plant previously announced on May 19, 2009, or the impact of the acquisition announced earlier today 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.

Joel P. Moskowitz, Ceradyne, Inc. Chairman, CEO and President, stated, "Global economic conditions have continued to deteriorate, impacting many of our customers as well as a number of our businesses. 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.”

[R-BgO]

* JUNE 10, 2009, 3:52 P.M. ET

Lehman Sued Over Role in Auction-Rate Securities Sales


Two companies are suing Lehman Brothers Holdings Inc. for more than $190 million, alleging that the failed investment bank misled them into investing in auction-rate securities then left them holding millions of dollars in assets that they can't sell.

Former Lehman clients Western Digital Corp. and Ceradyne Inc. accused the investment bank of fraud by selling them supposedly safe, liquid securities while knowing that the market for the securities was drying up.

In a pair of lawsuits filed Tuesday in Lehman's bankruptcy case, the California-based firms each say they've suffered "a devastating financial impact" caused by Lehman's "deceptive sales practices."

[R-BgO]

Ceradyne, Inc. Receives $8.3 Million Ceramic Body Armor Order for U.S. Marines

COSTA MESA, Calif.--(BUSINESS WIRE)--Jun. 18, 2009-- Ceradyne, Inc. (Nasdaq: CRDN) announces receipt of a $8.3 million delivery order from the U.S. Marine Corps, Quantico, Virginia. This order is for Enhanced Small Arms Protective Inserts (ESAPI), expected to be delivered in full by September 2009.

David Reed, Ceradyne’s President North American Operations, commented, “We are pleased to receive this Marine order. This order is a delivery order against a larger Indefinite Delivery/Indefinite Quantity (ID/IQ) contract previously announced. Ceradyne only records as backlog orders with firm delivery dates, such as this $8.3 million release. Ceradyne is also pleased with the knowledge that we continue to save the lives of American fighting men and women. With our armor facilities in Lexington, Kentucky, and Costa Mesa and Irvine, California, we intend to fully meet the delivery and quality requirements of this new order.”

Ceradyne

[R-BgO]

Ceradyne, Inc. Receives $18.7 Million SAPI Body Armor Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Jul. 21, 2009-- Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received an $18.7 million order for SAPI (Small Arms Protective Inserts) lightweight ceramic body armor. The order was issued by the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The Company expects to begin shipments in the fourth quarter of 2009, with completion prior to December 31, 2009. The order is a Foreign Military Sales (FMS) requirement.

David Reed, President of North American Operations, commented: “We are very pleased to receive this additional FMS body armor order. We believe that the government placed this order with Ceradyne, at least in part, due to its reliable delivery, quality performance on previous SAPI procurements and competitive pricing. This is a new order from the U.S. Army and should not be confused with the XSAPI/ESAPI 5-year procurement previously announced.”

[R-BgO]

Ceradyne, Inc. Receives U.S. Marine Corps Developmental Test Helmet Awards

COSTA MESA, Calif. & SALEM, N.H.--(BUSINESS WIRE)--Jul. 23, 2009-- In response to the U.S. Marine Corps Systems Command (MARCORSYSCOM) solicitation, Ceradyne, Inc. (NASDAQ:CRDN) has been awarded Developmental Test Helmet awards valued at approximately $1.2 million. These test helmets are expected to be delivered within 30 days.

On June 9, 2009, Ceradyne announced that it had acquired substantially all of the business, assets and technology of the Salem, New Hampshire based helmet manufacturer, Diaphorm Technologies, LLC. Simultaneously, Ceradyne announced that it had submitted a response to a Marine Corps solicitation, now in conjunction with the U.S. Army PEO Soldier. The solicitation was for the procurement of Enhanced Combat Helmets (ECH) with the intention to procure prototype combat helmets with the option to field production helmets to both services.

This Developmental Test Helmet awards are a direct result of the solicitation. The government has the option of procuring a minimum of 310 helmets and a maximum of approximately 246,840 helmets over the next two years.

As Ceradyne stated in its June 9, 2009 press release, “Ceradyne’s strategy is to combine its successful track record in body armor programs with the proprietary helmet-forming technologies of Diaphorm to create a world class manufacturer of Enhanced Combat Helmets. Ceradyne-Diaphorm’s Enhanced Combat Helmet will provide substantively increased levels of protection, utilizing high-volume repeatable manufacturing with reliable on-time delivery to support expedited procurements.”

David Reed, President of North American Operations, commented: “Our Enhanced Combat Helmet team is very pleased and excited regarding this recent award. This type of product is exactly what we had in mind when we developed our diversification and acquisition strategy—taking advantage of our state-of-the-art ballistic technology in areas of the military where our past performance and quality are already established. This strategy led directly to our recent Diaphorm acquisition.

“Our intention is to maintain the helmet research and development activities in Salem, New Hampshire, and, assuming a production award, implement a production volume helmet line in our state-of-the-art ‘lean’ armor assembly plant in Irvine, California.”

[R-BgO]

COSTA MESA, Calif.--(BUSINESS WIRE)--Jul. 28, 2009-- Ceradyne, Inc. (Nasdaq:CRDN) reported financial results for the second quarter and six months ended June 30, 2009.

Sales for the second quarter 2009 were $95.3 million, compared with $185.0 million in second quarter 2008. Net loss for the three months ended June 30, 2009 was $11.2 million, or $0.44 per basic share. The loss included special charges that had a negative impact by reducing earnings per share by approximately $0.48 for the second quarter. The special charges totaled $15.3 million during the second quarter which included a pre-tax $10.9 million restructuring charge for the closure of its plant in Bazet, France and other severance expenses, a non-cash pre-tax impairment charge of $3.8 million to write down the value of goodwill of its Ceradyne Canada reporting unit to reflect the current industry and economic environment and accelerated depreciation of $0.6 million resulting from a revision of the estimated useful lives of certain assets. The Company believes that it will meet its most recent guidance issued on June 9, 2009 of approximately $0.70 per fully diluted share on sales of $420 to $440 million. The forward looking estimated fully diluted earnings per share guidance does not include the restructuring and impairments described above. The Company estimates that the impact of the anticipated total restructuring and impairment pre-tax charges for all of 2009 will be $0.55 per fully diluted share.

Gross profit margin was 24.2% of net sales in second quarter 2009 compared to 40.8% in the same period in 2008. The benefit for income taxes was 18.2% in second quarter 2009, compared to a provision for income taxes of 36.3% in the same period in 2008.

Sales for the six months ended June 30, 2009 were $195.0 million, compared with $373.5 million in the same period last year. Net loss for the six months ended June 30, 2009 was $10.5 million, or $0.41 per basic share. The loss included special charges that had a negative impact by reducing earnings per share by approximately $0.51 for the six months ended June 30, 2009. The special charges totaled $16.3 million during the six month period ending June 30, 2009 which included a pre-tax $11.8 million restructuring charge for the closure of its plant in Bazet, France and other severance expenses and a non-cash pre-tax impairment charge of $3.8 million to write down the value of goodwill of its Ceradyne Canada reporting unit to reflect the current industry and economic environment and accelerated depreciation of $0.6 million resulting from a revision of the estimated useful lives of certain assets.

Gross profit margin was 23.9% of net sales in the six months ended June 30, 2009 compared to 39.4% in the same period in 2008. The benefit for income taxes was 16.2% in the first six months ended June 30, 2009, compared to a provision for income taxes of 36.2% in the same period in 2008.

New bookings for second quarter 2009 were $79.5 million, compared to $145.4 million for the same period last year. For the first six months of 2009, new bookings were $230.1 million, compared to $395.3 million for the comparable period last year.

Total backlog as of June 30, 2009 was $163.8 million, compared to total backlog at June 30, 2008 of $223.3 million.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “Although Ceradyne reported a quarterly loss for the first time since 1994, this loss was caused by restructuring charges such as the anticipated Bazet, France, plant closure, severance expenses, and impairment charges. Without these charges, the quarter would have been modestly profitable. We continue to believe that we will meet our June 9, 2009 guidance of approximately $0.70 per fully diluted share on sales of $420 to $440 million. This guidance does not include certain restructuring and impairment charges such as the closure of our French operation, other severance expenses and the write off of goodwill.

Moskowitz further commented: “Although we continue to see weakness in many of our markets on a year-over-year comparison, we are guardedly optimistic that we have seen the worst of the recessionary downturn. Our more positive outlook is based on the significantly reduced inventory levels of our customers and what we believe is the initial acceptance of certain new non-defense products. However, we continue to be concerned with the lack of visibility regarding possible 2010 XSAPI releases.”

Moskowitz went on to say: “During the second quarter, the Company achieved several milestones.

* On June 9, 2009, we announced the acquisition of substantially all of the business and assets of the ballistic helmet manufacturer Diaphorm Technologies, LLC based in Salem, New Hampshire. On the same day, we submitted our proposal to the U.S. Marine Corps for a state-of-the-art Enhanced Combat Helmet (ECH) for both the Marines and the Army.
* On July 23, 2009, we announced the award to Ceradyne of Developmental Test Helmets (ECH) from the U.S. Marine Corps Systems Command (MARCORSYSCOM).
* Ceradyne’s ESK Ceramics is in final discussions with local employee representatives regarding the terms of closing its Bazet, France operation. Pending certain final approvals, we anticipate ceasing all production there towards the end of 2009 and relocating the majority of the operation to our Kempten, Germany, facility with the possibility of establishing a China operation in conjunction with our Tianjin plant. For the first 6 months of 2009, the Bazet, France, operation lost approximately $1.6 million on a pre-tax basis.
* In the second quarter 2009, we continued Ceradyne’s ‘right-sizing’ strategy with some further headcount reductions and operational consolidation.
* In Q2, we continued our stock buyback announced last year as well as initiating a program to buy back our convertible debentures at a discount. In Q2, we bought back 207,000 common shares for $3.8 million, and $24.5 million worth of our bonds at a discounted amount of $20.3 million.

Ceradyne will host a conference call today at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss its 2009 second quarter results. To participate in the teleconference, please call toll free 877-717-3046 (or 706-634-6364 for international callers) approximately 10 minutes prior to the above start time and provide Conference ID 20553198. Investors or other interested parties may listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. These web sites will also host an archive of the teleconference. A telephonic playback will be available beginning at 11:00 a.m. PDT today through 11:00 a.m. PDT on July 30, 2009. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 20553198.

[R-BgO]

Our Thermo Materials division had net sales for the three months ended June 30, 2009 of $15.3 million, a decrease of $6.4
million, or 29.5%, from $21.7 million in the corresponding quarter of the prior year. The decrease was due to lower sales of
crucibles to the solar energy market, and lower sales of precision investment cast products and refractory products due to the
current economic recession. Revenue from crucibles used in the manufacture of photovoltaic cells for the three months ended
June 30, 2009 were $7.7 million, a decrease of $3.5 million, or 31.7%, from $11.2 million in the corresponding period a
year ago. The decrease was due to lower per unit sales prices of crucibles and lower units sold to the solar energy market
because of price reductions in the market for crucibles that was initiated by our largest competitor. Sales to the defense
industry during the three months ended June 30, 2009 were $2.3 million, an increase of $0.6 million, or 37.9%, from $1.7
million when compared to the corresponding prior year period.

For the six months ended June 30, 2009, net sales for Thermo Materials were $31.5 million, a decrease of $7.5 million, or
19.2%, from $39.0 million in the corresponding prior year period. Accounting for this decrease was a reduction of $3.6
million in the sales of precision investment casting products and a $1.7 million reduction in refractory product sales; both
due to the severe economic recession. Another factor contributing to the decrease was lower revenue of $2.0 million from the
sales of crucibles due to lower per unit sales prices due to increased price competition while units sold increased for the six
months ended June 30, 2009 compared to the prior year comparable period. Revenue from crucibles used in the manufacture
of photovoltaic cells was $16.6 million, a decrease of $2.0 million, or 10.9%, from $18.6 million during the six months
ended June 30, 2008. Sales to the defense industry during the six months ended June 30, 2009 were $4.2 million, an increase
of $1.0 million, or 29.2%, from $3.2 million when compared to the corresponding prior year period.

[R-BgO]

inzwischen 51% pre-coated crucibles

Photowatt hatte 2 Wochen, BP eine Woche geschlossen;

nehme mal an, es sind Kunden

[Krueppl]

Wieso gibt's eigentlich keine Transscripte der EarningCalls bei Seeking Alpha mehr?

Werden die EC's sonst irgendwo publiziert?

[RayNar]

Antwort auf Beitrag Nr.: 37.818.246 von Krueppl am 20.08.09 15:09:51

Hallo mein Guter !

Hab auch keine kostenlose Niederschrift gefunden, musst ihn wohl leider über die Homepage anhören... Das nächste Sauwetter kommt bestimmt

[Krueppl]

Tjjaaaaa mal schauen. Ceradyne ist auch noch so ein Kandidat auf meiner Liste... Hop oder Top. Von der Bilanzstärke eigentlich Top aber will nicht wirklich anspringen...

[RayNar]

Antwort auf Beitrag Nr.: 37.828.609 von Krueppl am 21.08.09 18:05:59

Jepp, ich habe Ceradyne auch auf meiner Watchlist, kannst dir ja denken, von wem ich den heissen Tip habe

Ja stimmt schon, bei Ceradyne gefällt mir auch das schöne konstante Wachstum der letzten Jahre, aber momentan scheinen sie einfach keine Aufträge reinzubekommen. Solange der Negativtrend anhält und die Gewinne weiter fallen, werde ich sie nur beobachten. Hat aber durchaus Potential, könnte ja irgendwann wieder an die Erfolgstage anknüpfen..

[Krueppl]

Naja "an sich" haben sie den Großauftrag ja bekommen. Allerdings hat BAE ja Wiederspruch dagegen eingelegt. Solange die Amis aber immer neue Munition entwickeln und diese auch von Feinden eingesetzt wird - und solange Menschenleben "wichtig" sind, werden auch neue Schutzwesten eingesetzt werden.

Ich denke das passt schon. Wann sich das mit dem Urteil ändert ---> ich habe keine Ahnung. Dafür haben sie aber eine solide Bilanz um das lange auszuhalten..

[RayNar]

Antwort auf Beitrag Nr.: 37.833.771 von Krueppl am 23.08.09 14:05:32

Um mal wieder meine Lieblingscharts raufzubringen:


Ganz den Überblick über die Großaufträge habe ich nicht, ich habe mich nur auf die Quartalsberichte beschränkt:


Sales for the second quarter 2009 were $95.3 million, compared with $185.0 million in second quarter 2008. Net loss for the three months ended June 30, 2009 was $11.2 million, or $0.44 per basic share. The loss included special charges that had a negative impact by reducing earnings per share by approximately $0.48 for the second quarter. The special charges totaled $15.3 million during the second quarter which included a pre-tax $10.9 million restructuring charge for the closure of its plant in Bazet, France and other severance expenses, a non-cash pre-tax impairment charge of $3.8 million to write down the value of goodwill of its Ceradyne Canada reporting unit to reflect the current industry and economic environment and accelerated depreciation of $0.6 million resulting from a revision of the estimated useful lives of certain assets. The Company believes that it will meet its most recent guidance issued on June 9, 2009 of approximately $0.70 per fully diluted share on sales of $420 to $440 million. The forward looking estimated fully diluted earnings per share guidance does not include the restructuring and impairments described above. The Company estimates that the impact of the anticipated total restructuring and impairment pre-tax charges for all of 2009 will be $0.55 per fully diluted share.


Hier schaut es schon noch ganz düster aus, die Umsätze sind weiter stark am fallen und Einmaleffekte haben einen kleinen Verlust beschert. Wie du sagst, kann Ceradyne das locker wegstecken. Falls die Klage durch ist, oder andere Aufträge kommen, geht es hier bestimmt wieder schnell nach oben. In der Zeit kann man hoffentlich ein Spitzenunternehmen noch zum Sparpreis bekommen.

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Ceradyne, Inc. Receives $16.4 Million ESAPI Order
COSTA MESA, Calif., Aug 27, 2009 (BUSINESS WIRE) -- Ceradyne, Inc. (NASDAQ: CRDN) received a $16.4 million ESAPI (Enhanced Small Arms Protective Inserts) order which is expected to be shipped late in the fourth quarter of 2009. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne's practice is to only book firm delivery orders such as the above $16.4 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: "We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be an additional delivery order against the blanket ID/IQ contract this year."

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Ceradyne, Inc. Receives $8 Million ESAPI Order

COSTA MESA, Calif.--(BUSINESS WIRE)--Sep. 17, 2009-- Ceradyne, Inc. (NASDAQ: CRDN) received an $8 million ESAPI (Enhanced Small Arms Protective Inserts) order which is expected to be shipped in the first quarter of 2010. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne’s practice is to only book firm delivery orders such as the above $8 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President North American Operations, commented: “We are very pleased to have received this order and will continue to ship this ESAPI product on time with the high standards of quality required. The government ordered the maximum quantity on this contract and this delivery order closes the contract. Ceradyne expects to bid further ESAPI sustainment business on a new Request for Quotation expected in the fourth quarter of 2009.”

[RayNar]

Etwas veraltet, aber Ende Oktober kamen ja Zahlen!
http://www.finanznachrichten.de/nachrichten-2009-10/15300383…

Und es gibt wieder ein TRANSCRIPT!
http://www.finanznachrichten.de/nachrichten-aktien/ceradyne.…

Kleiner Bericht dazu:

27.10.2009 19:20
Ceradyne warnt - Aktie unter Druck
Costa Mesa (BoerseGo.de) - Der Hersteller von Keramik-Anwendungen für die Telekom-, Automobil- und Konsumgüter-Industrie, Ceradyne, erzielt im dritten Quartal einen Gewinn von 0,26 Dollar pro Aktie und verfehlt damit die Erwartungen von Wall Street um 2 Cent. Der Umsatz fällt gegenüber dem entsprechenden Vorjahresquartal um 35,6 Prozent auf 108 Millionen Dollar, was ebenfalls unter den Konsensschätzungen der Analysten von 110 Millionen Dollar liegt.

Für das aktuelle Geschäftsjahr 2009 reduziert das Management seine Gewinnprognose von 0,70 Dollar auf 0,60 Dollar pro Aktie, was gleichzeitig unter den aktuellen Konsensschätzungen der Analysten von 0,65 Dollar pro Aktie liegt. Die Umsatzprognose für 2009 wird von 420 bis 440 Millionen Dollar auf 410 bis 415 Millionen Dollar nach unten korrigiert, Wall Street geht aktuell von 419,04 Millionen Dollar aus.

Die Aktie verliert aktuell 8,10 Prozent auf 16,67 Dollar.

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Ceradyne, Inc. Receives M-ATV Vehicle Armor Contract
COSTA MESA, Calif., Dec 28, 2009 (BUSINESS WIRE) -- Ceradyne, Inc. (NASDAQ: CRDN) announced that it has received a multi-million dollar blanket purchase order from Plasan Sasa Ltd., Israel, for the production of armor components for the MRAP All Terrain Vehicle (M-ATV). Ceradyne plans to produce these parts in its expanded armor assembly plant in Irvine, California, for delivery to Oshkosh Corporation, the prime contractor. Oshkosh will assemble the components and deliver the M-ATV to the government.

All manufacturing procedures for these M-ATV components have now been approved and Ceradyne production commenced this month. It is anticipated that production and delivery will continue throughout 2010.

Marc King, Ceradyne's Armor Systems President, stated that Ceradyne was pleased to work in cooperation with Plasan in order to insure quality M-ATV parts are delivered on an expedited delivery schedule to Oshkosh in order to support our troops in the field.

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Ceradyne, Inc. Announces Preliminary Unaudited Results for Full Year 2009
COSTA MESA, Calif., Jan 11, 2010 (BUSINESS WIRE) -- Ceradyne, Inc. (Nasdaq: CRDN) announced preliminary unaudited results for full year 2009.
Ceradyne announced that its preliminary sales figure for 2009 is approximately $401 million. These full year preliminary results compare to the guidance given on October 27, 2009 of sales in a range of $410 million to $415 million. Full year earnings are estimated to meet or slightly exceed the current guidance of approximately $0.60 per fully diluted share which do not include the impact of restructuring and impairment charges for all of 2009 of approximately $0.55 per fully diluted share.

Although 2009 earnings may slightly exceed the October 27, 2009 guidance, full year sales were impacted by the government's recently revised ceramic body armor testing and inspection procedures, which resulted in approximately $8 million of body armor originally scheduled to be shipped in the fourth quarter of 2009 to be postponed into 2010.

The Company reiterates its 2010 guidance, initially provided on October 27, 2009, of a sales range of $380 million to $430 million and an earnings range of $0.60 to $1.05 per fully diluted share.

Ceradyne will host an investor and analyst event today, January 11, 2010, entitled "Ceradyne, Inc., The Global Path Forward." The event is intended to explain and demonstrate Ceradyne's product and market diversification, moving from its dependence on defense products to a more balanced platform of solar, industrial, and oil and gas emerging markets, as well as defense products. Ceradyne's founder and Chief Executive Officer, Joel P. Moskowitz, and Chief Financial Officer, Jerrold J. Pellizzon, will make a webcast presentation at approximately 3:30 p.m. (EST). One may listen to it live by accessing the Investor Relations page of Ceradyne's website, www.ceradyne.com, where the presentation will be archived.

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Ceradyne, Inc. Receives $12.4 Million SAPI Body Armor Order
COSTA MESA, Calif., Jan 12, 2010 (BUSINESS WIRE) -- Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received a $12.4 million order for SAPI (Small Arms Protective Inserts) lightweight ceramic body armor. The order was issued by the U.S. Army RDECOM, Aberdeen Proving Grounds, Maryland. The Company expects shipments to be completed in the first quarter 2010. The order is a Foreign Military Sales (FMS) requirement.
David Reed, President of North American Operations, commented: "We are very pleased to receive this additional FMS body armor order. We believe that the government placed this order with Ceradyne, at least in part, due to its reliable delivery, quality performance on previous SAPI procurements and competitive pricing. This is a new order from the U.S. Army and should not be confused with the XSAPI/ESAPI 5-year procurement previously announced."

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Ceradyne, Inc. Awarded Contract for Patrol Vessel Armor

COSTA MESA, Calif., Mar 31, 2010 (BUSINESS WIRE) --Ceradyne, Inc. (Nasdaq: CRDN), in conjunction with Turner Strategic Technologies LLC ("TST") of Virginia Beach, Virginia, is pleased to announce the award of a contract in an amount estimated between $3.5 million to $6.0 million (range depends on customer exercised options) for the supply and installation of protective armor for the command station of nine new 35-meter patrol vessels being manufactured for the Iraqi Navy by Swiftships of Morgan City, Louisiana.

"We are pleased to be working along side TST and Swiftships on this important project," said Marc King, President, Ceradyne Armor Systems, Inc, a subsidiary of Ceradyne, Inc. "It gives us the opportunity to demonstrate our expertise in the armoring of small and medium-size naval vessels."

Ceradyne is providing end-users with state-of-the-art armoring technology capable of protecting the ship's crew under severe combat conditions. These vessels are being purchased through the US Foreign Military Sales Program and will increase the overall naval capability of the Iraqi Navy.

Brian Parker, Ceradyne's Program Manager, added, "Most importantly, the crews operating these vessels will have an increased level of survivability if they are forced to engage in combat while on patrol."

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Ceradyne expanding ceramic crucible production in China to meet global demand
03 May 2010 | By Mark Osborne | News > Fab and Facilities, Materials


Vertically integrated ceramic crucible producer Ceradyne is expanding capacity in China to meet global demand for crucibles used in the production of multicrystalline ingots for the PV industry. Ingot production is being rapidly expanded across fully integrated PV manufacturers as well as pure-play wafer producers. Ceradyne is a leading supplier of advanced ceramic crucibles to the PV industry.

Specifically, Ceradyne is increasing its capacity during the first half of 2010 at its existing facility, Ceradyne Tianjin Technical Ceramics. The 98,000 square foot facility in Tianjin, China became operational in June 2007. Construction of a new 218,000 square foot facility in Tianjin for Ceradyne Tianjin Advanced Materials is already under way at an estimated cost of US$34 million and is expected to come onstream in early 2011. The company also has production capacity in Atlanta, Georgia.

Ceradyne ceramic crucible production in ChinaWhen this phase of expansion is complete, the combination of existing and new capacity will enable Ceradyne to remain a leader in global supply with the ability to readily distribute crucibles to any location in the world, the company said. All three facilities will have the capability to supply the traditional crucible sizes such as for 450kg ingots but are also equipped to produce custom and next-generation sizes as well.

Consistent with its existing facilities the new plant will incorporate proprietary technology to apply a silicon nitride release coating to any crucible as an option for customers who desire the flexibility to cost effectively optimize their internal facility utilization.

Ceradyne in recent years has developed a proprietary silicon nitride coating designed to act as a barrier between the molten silicon and the crucible, eliminating ingot sticking and fracture which promotes improved production consistency and reduction in wafer losses.

Ceradyne Tianjin Advanced Materials will also include technology and equipment from Minco and ESK, two of Ceradyne’s other global entities. From Minco’s facility in Tennessee, which supplies engineered systems to the precision investment casting (PIC) industry as well as all fused silica raw materials for crucible production in both China and the U.S., grinding and blending technology will be incorporated.

ESK, headquartered in Kempten, Germany, will supply process technology to the facility for silicon nitride and boron carbide ceramic components and coating systems.

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Ceradyne Boron Products, LLC Awarded $8 Million Contract for European Pressurized Reactor (EPR) Primary Coolant Additive - Enriched Boric Acid

COSTA MESA, Calif., Jul 19, 2010 (BUSINESS WIRE) --

Ceradyne Boron Products, LLC ("Boron Products, LLC"), a wholly owned subsidiary of Ceradyne, Inc. (Nasdaq:CRDN), is pleased to announce a contract award of approximately $8 million for the supply of B-10 Enriched Boric Acid to Electricité de France SA (EDF) for its first European Pressurized Reactor (EPR) presently under construction in France. Enriched Boric Acid is designed into the EPR as the primary coolant additive for rate of reaction control. Isotopically enriched boric acid increases criticality control, achieves higher levels of long-term control, reduces the corrosion effect and reduces operator exposure to radiation.

"The utilization of advanced reactor designs in conjunction with superior safety and operating systems ushers in a more efficient, safe, reliable and environmentally friendly energy alternative to greenhouse-gas emitting technologies," said Dennis Manning, Vice President and General Manager. "Boron Products, LLC is proud to be involved in the success and continued advancement of safe, reliable nuclear power generation. We expect to completely ship this order in the fiscal year ending December 31, 2011."

Boron Products, LLC operates the world's largest boron isotope separation facility providing enriched boron products for commercial nuclear power, defense, semiconductor and neutron detection applications. Enriched boron compounds are manufactured under an ISO 9001:2008 certified quality system and exceed nuclear safety and environmental regulatory guidelines. Additional information can be found at the subsidiary's website: www.ceradyneboron.com.

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Ceradyne, Inc.'s Semicon Associates Division Acquires New Ceramic Impregnated Dispenser Cathode Technology

COSTA MESA, CA and LEXINGTON, KY, Jul 26, 2010 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) has acquired intellectual property for producing a controlled porosity ceramic impregnated dispenser cathode using a patented "sintered wire" technology. This intellectual property was acquired from Calabazas Creek Research based in San Mateo, California.

Semicon Associates, a division of Ceradyne, Inc., has been producing ceramic impregnated dispenser cathodes for over 55 years using more mature porous tungsten powder technology. The basis of this departure from traditional methodology is intended to result in a significantly longer life with a more controlled electron beam. Semicon will be shipping prototypes of this new cathode to several of its customers for evaluation in the next few months.

Jeffrey Waldal, Ceradyne Corporate Vice President and President of Semicon Associates, commented, "I am very excited about this acquisition. The new sintered wire technology can produce over ten times the current density and extend life by two to four times when compared to the present state-of-the-art dispenser cathodes. We look forward to a continued working relationship with Calabazas Creek Research and to playing a pivotal role in advancing microwave tube technology."

The advances in microwave tube performance that this "sintered wire" technology produces is predicated on a "reservoir" of the barium based ceramic and a controlled distributed porosity. The result is a long life due to the presence of additional barium and a uniform emission even as the cathode ages. These qualities are prime considerations in modern microwave tube design for military and communication applications.

Dispenser cathodes are used in a variety of vacuum electron devices and in inert and reducing atmospheres. The most common end-use applications include military electronic counter measures, satellite and other communication devices, medical devices, and scientific research.

Lawrence Ives, President of Calabazas Creek Research, stated, "We are very pleased to find the perfect home for the sintered wire cathode technology. Semicon Associates' track record as a world leader in custom designed cathodes, along with their continuing emphasis on quality and performance, speaks for itself. We view this as the beginning of a long-term relationship as we work together to further extend the performance of sintered wire technology."

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COSTA MESA, CA, Jul 27, 2010 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) reported financial results for the second quarter and six months ended June 30, 2010.

Sales for the second quarter 2010 were $100.4 million, compared with $95.3 million in the second quarter 2009. Net income for the second quarter 2010 increased to $6.6 million, or $0.26 per fully diluted share, compared to a net loss of $11.2 million, or $0.44 per basic share in the second quarter 2009. The net income for the second quarter 2010 included a pre-tax gain on auction rate securities of $0.9 million or an increase of approximately $0.03 to fully diluted earnings per share. The loss in the second quarter 2009 included special charges that had a negative impact by reducing earnings per share by approximately $0.48 for the second quarter. The special charges totaled $15.3 million during the second quarter which included a pre-tax $10.9 million restructuring charge for the closure of the Company's plant in Bazet, France and other severance expenses, a non-cash pre-tax impairment charge of $3.8 million to write down the value of goodwill of its Ceradyne Canada reporting unit to reflect the current industry and economic environment and accelerated depreciation of $0.6 million resulting from a revision of the estimated useful lives of certain assets.

Fully diluted average shares outstanding for the second quarter 2010 were 25,596,968 compared to 25,710,721 in the same period in 2009.

Taking into consideration the strong non-defense financial results in the first half of 2010 tempered by the continued uncertainty of body armor shipments in second half 2010, the Company increased its 2010 full year guidance to a range of $0.80 to $1.18 fully diluted earnings per share and a range of $400 million to $430 million in sales. The prior 2010 guidance was $0.65 to $1.05 earnings per share and $380 million to $430 million in sales.

Gross profit margin was 25.7% of net sales in the second quarter 2010 compared to 24.2% in the same period in 2009. The provision for income taxes was 18.2% in second quarter 2010, compared to a benefit for income taxes of 18.2% in the same period in 2009.

Sales for the six months ended June 30, 2010 were $210.5 million, compared with $195.0 million in the same period last year. Net income for the six months ended June 30, 2010 was $11.6 million, or $0.45 per fully diluted share, on 25.6 million shares, compared to a net loss of $10.5 million, or $0.41 per basic share, on 25.8 million shares in the prior year period. The loss included special charges that had a negative impact by reducing earnings per share by approximately $0.51 for the six months ended June 30, 2009. The special charges totaled $16.3 million during the six month period ending June 30, 2009 which included a pre-tax $11.8 million restructuring charge for the closure of its plant in Bazet, France and other severance expenses and a non-cash pre-tax impairment charge of $3.8 million to write down the value of goodwill of its Ceradyne Canada reporting unit to reflect the current industry and economic environment and accelerated depreciation of $0.6 million resulting from a revision of the estimated useful lives of certain assets.

Gross profit margin was 24.3% of net sales in the six months ended June 30, 2010 compared to 23.9% in the same period in 2009. The provision for income taxes was 20.5% in the six months ended June 30, 2010, compared to a provision for income taxes of 16.2% in the same period in 2009.

New orders for the three months ended June 30, 2010 were $87.6 million, compared to $79.5 million for the same period last year. For the six months ended June 30, 2010, new orders were $193.3 million, compared to $230.2 million for the comparable period last year.

Total backlog as of June 30, 2010 was $118.0 million, compared to total backlog at June 30, 2009 of $163.8 million.

Joel P. Moskowitz, Ceradyne president, chief executive officer and chairman of the board, commented: "I am particularly pleased with the second quarter 2010 financial results reported above. The Company continues to successfully pursue its strategy of implementing a wider range of technical ceramic industrial products which is more than offsetting the decline in first half 2010 lightweight ceramic body armor inserts, which had been anticipated. We believe this trend will continue in the short run while the Company is discussing various substantive defense opportunities with the U.S. government. The chief military areas that are currently under discussions with Ceradyne include various lightweight ceramic body armor systems including improved areas of protection, next generation ballistic helmets, and future ceramic missile radomes.

"Of note, in Q2 2010 is the dramatic turnaround in the Company's ESK Ceramics operation in Kempten, Germany. Most of the improvements in the ESK operation are due to cost reduction and the closing of the Bazet, France facility, coupled with increasing demand in ESK's strong traditional industrial ceramic product lines. Additionally, ESK continues to pursue its R&D efforts and, where appropriate, patent new ceramic products for oil and gas sand and proppant filtration, pharmaceutical micro reactors, refractory coatings for steel oxygen furnaces, and new, future applications in advanced state-of-the-art structural components for next generation lithium-ion batteries for the automobile industry.

"We continue to see well above average growth in the polycrystalline photovoltaic solar industry related to our high purity, large ceramic crucibles. Our new 218,000 square foot solar factory in Tianjin, China, is well underway with a tentative opening date of February 2011. This new China manufacturing facility will substantially increase Ceradyne solar capacity and become the Chinese corporate and sales office for Ceradyne U.S.A., as well as its non-American operations.

"The recent $8.3 million order from the French nuclear power plant utility (Electricite de France, EDF) for Ceradyne Boron Products' boron-ten (B10) nuclear absorbing isotope is anticipated to be an order in a series of procurements, not only in France but also the U.S., China, Japan and other countries. We view the proprietary nuclear waste containment and other nuclear chemicals produced in our Quapaw, Oklahoma plant as a future core Ceradyne alternative energy product line.

"The Q2 2010 financial statements show continuing profitability and positive cash flow with over $270 million in cash, cash equivalents and short-term investments. This cash position is anticipated to be used for capex and plant expansion (e.g., Tianjin, China plant), acquisitions and share buyback (approximately $42 million remaining on original authorization)."

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On Friday August 27, 2010, 6:15 pm EDT

NEW YORK (AP) -- Ceradyne Inc. won a $21.7 million contract from the Defense Department on Wednesday for an estimated 447,852 possible repairs on extra-small arms protective inserts and enhanced small arms protective inserts plates.

Work is to be performed in Costa Mesa, Calif., where the company is based.

The contract is expected to end Oct. 2, 2013.

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Ceradyne, Inc. Acquires VIOX Corporation
VIOX Produces Specialty Solar Glass and Bio-Active Glass Products

COSTA MESA, CA, Jan 04, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) announced today that it has acquired Seattle, Washington based specialty glass company, VIOX Corporation ("VIOX"). The purchase price consists of approximately $27 million in cash paid at closing which includes a post closing adjustment in approximately two months, plus contingent payments up to a maximum of $22 million, based on VIOX achieving certain sales diversification and earnings targets during the 30-month period following the closing. For the twelve-month period ended September 30, 2010, VIOX had sales of approximately $22 million with strong operating margins. Ceradyne anticipates that this acquisition will be immediately accretive.

VIOX is a 40-year-old corporation that develops, manufactures and markets specialty glass compositions for a wide range of electronic, industrial and health care markets. Many of VIOX's current senior management have earned degrees in ceramic engineering from the University of Washington. Specialty glass is often considered a subset of technical ceramics and can be adapted via its formulation composition to have various desired electrical, sealing and bioactive properties.

In recent years, VIOX developed a specialty glass formulation for polycrystalline silicon photovoltaic solar applications. VIOX customers add electrically conducting powdered metals such as silver or aluminum to the VIOX powdered specialty glass. When applied by the solar cell manufacturer in thin bands to the solar wafer, they act as an extremely efficient conduit to transport the electrons from the solar wafer to the connection box. This development has led to rapid recent growth in VIOX sales. Solar glass products now account for almost 70% of VIOX sales. Many of the ultimate solar users of VIOX glass are also Ceradyne's customers for its high purity ceramic solar crucibles.

VIOX also produces bio-active glasses for the healthcare industry. These compositions have demonstrated an ability to react with and promote human bone growth. Markets for these materias include dental, orthopedic surgery, wound care, hearing loss correction and several other medical uses. The VIOX bio-active product line is in an early production mode.

VIOX will be a wholly owned subsidiary of Ceradyne, Inc. and will be incorporated into the Company's Advanced Ceramic Operations segment (ACO), headed by Ceradyne Vice President David Reed. It is Ceradyne's intent to leave all current VIOX personnel in place in Seattle, including VIOX's current President, Reynold Hagel. It is also Ceradyne's intent to provide financial, technical and other Ceradyne resources to facilitate the anticipated growth of VIOX.

David Reed, Ceradyne Vice President, commented: "I am extremely enthused over the VIOX acquisition. It will fit into our strategy of product and market diversification while sticking with Ceradyne's core technical ceramic technology. It is our intention to provide the resources to VIOX that will allow them to take advantage of market opportunities much faster and more efficiently than the 'pre-acquisition' smaller VIOX could have achieved. Perhaps as important," Reed continued, "the VIOX people will fit right into the Ceradyne culture; they are hard working, entrepreneurial ceramic/glass technologists with a multi-year profit record."

Reynold Hagel, VIOX President, said: "I know for myself and the rest of the VIOX management team that it will be a promising and exciting opportunity to be part of the Ceradyne team and that we will have the resources available to enable us to further grow the company. We are confident that our solar glass customers, bio-active glass customers and other specialty glass customers will view this Ceradyne/VIOX team in a very favorable light."

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COSTA MESA, CA -- (Marketwire) -- 01/04/11 -- Ceradyne, Inc. (NASDAQ: CRDN) received a $5.8 million ESAPI (Enhanced Small Arms Protective Inserts) order which is expected to be shipped in the first quarter of 2011. This order is a delivery order issued by the U.S. Army RDECOM ACO Center, Aberdeen Proving Ground, MD, against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) contract. Ceradyne's practice is to only book firm delivery orders such as the above $5.8 million as backlog for scheduled delivery.

David Reed, Ceradyne's President North American Operations, commented, "We are very pleased to have received this order and will continue to ship this ESAPI product on time with the high standards of quality required."

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COSTA MESA, CA -- (Marketwire) -- 01/10/11 -- Ceradyne, Inc. (NASDAQ: CRDN) will host its second annual investment reception today at the New York Palace Hotel. In addition to displaying Ceradyne's portfolio of advanced technical ceramic products, Joel P. Moskowitz, Ceradyne's CEO and Board Chairman, and Ceradyne's CFO Jerrold J. Pellizzon are presenting a webcast overview of Ceradyne this afternoon at 3:30 p.m. EST.

One may listen to the webcast live by accessing the Investor Relations Page of Ceradyne's website, www.ceradyne.com, where the presentation will be archived.

The overview will include the following:

* Ceradyne $1 Billion. Mr. Moskowitz will be outlining a preliminary growth strategy for Ceradyne to achieve sales of $1 billion in approximately 5 years. This 150% growth will be based on continued substantive growth in solar products, as well as anticipated growth in current and recently introduced industrial and oil and gas related products from Ceradyne's ESK Ceramics subsidiary in Kempten, Germany. The Company anticipates that its ceramic armor business will remain at recent levels, and that its recent entry into the military ballistic helmet business may be a source of new defense contracts. Other areas to be discussed include nuclear power plant neutron absorbing materials and new products and markets from Ceradyne's internal R&D efforts.

* VIOX Corporation Acquisition. Mr. Moskowitz will also comment on Ceradyne's recent acquisition of VIOX Corporation, a Seattle, Washington-based specialty glass company. VIOX develops, manufactures and markets specialty glass powders for solar, health care, electronic and other applications. Specialty glass is often considered a subset of advanced technical ceramics -- Ceradyne's core business. This acquisition, which was announced in a January 4, 2011 press release, is expected to be immediately accretive. The purchase price was approximately $27 million plus contingent payments of up to a maximum of $22 million based on VIOX achieving earnings growth and revenue diversification targets during the 30-month period following the closing.

* Revised Guidance. On October 26, 2010, Ceradyne issued its initial 2011 Guidance of $1.35 to $1.75 per fully diluted share on sales ranging from $445 to $515 million. Based on the recent VIOX acquisition and strength in the defense sector, Ceradyne is raising its 2011 Guidance to a range of $1.50 to $1.90 per fully diluted share on sales ranging from $470 to $540 million.

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Ceradyne Opens Second Solar Energy Ceramic-Related Factory in Tianjin, China
COSTA MESA, CA, Jan 19, 2011 (MARKETWIRE via COMTEX) -- Ceradyne, Inc. (NASDAQ: CRDN) announced the grand opening of its new 218,000-square-foot factory in Tianjin, China, Ceradyne Tianjin Advanced Materials. This newly constructed facility will produce high-purity ceramic crucibles for the forming of large polysilicon ingots for use in the manufacturing of photovoltaic silicon solar cells.

The opening ceremonies were attended by customers from Europe, the U.S., Taiwan, Korea, Singapore, Malaysia and China. Suppliers and contractors from Italy, Mexico, the U.S. and China also attended along with Chinese employees and key Ceradyne executives, including Ceradyne ACO President David P. Reed and Ceradyne CFO Jerrold J. Pellizzon.

The new facility is located on Ceradyne's 13.7-acre plot in the Tianjin Airport Economic Area. The operation will be run by Ceradyne Chinese executives and engineers who have been trained by U.S.-based Ceradyne Thermo Materials' management.

Bruce Lockhart, Ceradyne Vice President responsible for the Company's solar energy efforts, commented: "This is a very exciting event for Ceradyne and particularly for Ceradyne Thermo Materials. It was only three and a half years ago that we opened the first crucible factory in Tianjin for the development and manufacture of high-technology ceramic crucibles to meet our Chinese customers' requirements."

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Ceradyne, Inc. Announces $18.3 Million Contract Award for Enriched Zirconium Diboride
COSTA MESA, CA, Mar 01, 2011 (MARKETWIRE via COMTEX) -- Ceradyne, Inc. (NASDAQ: CRDN) announced a three-year contract award to Boron Products, LLC, a wholly owned subsidiary of Ceradyne, Inc., of approximately $18.3 million for the supply of B-10 enriched zirconium diboride (ZrB2) to Westinghouse Electric Company-Nuclear Fuels Division (WEC) for nuclear fuel applications. Enriched zirconium is designed into the WEC Integral Fuel Burnable Absorber (IFBA) which is the most extensively used absorber in Westinghouse pressurized water reactors. Approximately $6.0 million of the total award is included in Ceradyne's existing revenue guidance for 2011.

A thin layer of ZrB2 on UO2 pellets is the optimal fuel design because it is integral to the fuel, can be entirely depleted, and provides excellent reactivity control. Isotopically enriched zirconium diboride allows for the most efficient manufacturing process in the fabrication of nuclear fuels. Westinghouse's ZrB2 IFBA is a key element in achieving superior fuel cycle costs.

"Westinghouse continues to be a global leader in the advancement of nuclear fuel technology," said Dennis Manning, Ceradyne Boron Products Vice President and General Manager. "Ceradyne Boron Products has a long history in this market area. We are committed to increasing our collaborative relationship in support of Westinghouse's future developments. Both companies are dedicated to capitalizing on each other's strengths to extend market leading positions and create additional opportunities for success."

Ceradyne Boron Products operates the world's largest boron isotope separation facility providing enriched boron products for commercial nuclear power, defense, semiconductor, and neutron detection applications. Enriched boron compounds are manufactured under an ISO 9001:2008 certified quality system and exceed nuclear safety and environmental regulated guidelines. Additional information can be found at www.ceradyneboron.com.

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Ceradyne, Inc. Receives $56.6 Million ESAPI Body Armor Order
COSTA MESA, CA, Mar 03, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) announced that it has received a delivery order for approximately $56.6 million for ESAPI (Enhanced Small Arms Protective Insert) ceramic body armor plates. Ceradyne will begin shipping this ESAPI production release in the second quarter this year with full shipment expected to be completed late in the third quarter 2011.

The release was issued under the $2.37 billion ID/IQ (Indefinite Delivery/Indefinite Quantity) contract originally issued in October 2008 and scheduled to expire in September 2013. There is a balance of approximately $2.1 billion remaining on the ID/IQ contract. Ceradyne's practice is to only book firm delivery orders such as the above $56.6 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President, North American Operations, commented: "We are extremely pleased to have been awarded this ESAPI contract. We anticipate meeting the government's quality and delivery requirements with this delivery order shipped complete in Q3 2011."

[R-BgO]

Ceradyne, Inc. Raises 2011 Guidance
COSTA MESA, CA, Mar 09, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) raises its 2011 guidance.

Ceradyne, Inc. management is adjusting its 2011 guidance to a range of $2.35 per fully diluted share to approximately $2.70 per fully diluted share, and sales from $505 million to $560 million.

This guidance is increased from prior guidance of $1.50 per fully diluted share to approximately $1.90 per fully diluted share, and sales from $470 million to $540 million on January 10, 2011 and reiterated on February 24, 2011.

Joel P. Moskowitz, Ceradyne, Inc. Chairman, CEO and President, commented: "We are comfortable in revising our 2011 guidance based on several factors. First, we are experiencing increasing gross margins. We believe this is due to higher volume efficiencies, an improved sales mix, as well as firmer pricing in our industrial and commercial markets. Secondly, the recent $56.6 million ESAPI award and several potential additional armor opportunities increase the probability of a substantial increase in military business compared to 2010. We are also encouraged by the preliminary ballistic results the military is achieving on our Enhanced Combat Helmet (ECH) first article testing. Finally, the projected increased industrial ceramic business in Europe and strong demand for our high purity fused silica ceramic solar crucible lead us to project continuing positive results throughout 2011."

[R-BgO]

Ceradyne, Inc. Acquires Interest in Japanese-Based Yamanaka EP Corporation
COSTA MESA, CA and KYOTO, JAPAN, Mar 10, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) and Yamanaka EP Corporation (Kyoto, Japan) jointly announced that Ceradyne, Inc. has acquired a minority interest in Yamanaka EP Corporation for an undisclosed amount. Yamanaka EP Corporation, a privately owned company based in Kyoto, Japan, processes advanced technical materials in its modern processing facility in Shiga, Japan, and markets these materials in Japan, Asia, the United States, and Europe primarily for nuclear power plant, solar, optical fiber, and semiconductor applications. Ceradyne, Inc.'s wholly owned subsidiary, Ceradyne Boron Products, supplies nuclear power plant and semiconductor materials to Yamanaka. The companies plan to change the name of Yamanaka EP Corporation to Yamanaka Ceradyne, Inc. There will be a Ceradyne, Inc. representative on the Yamanaka Ceradyne, Inc. Board of Directors.

Mr. Takao Danno, President of Yamanaka, commented: "We are very pleased to have our long-term supplier, Ceradyne Boron Products, as an integral part of the Yamanaka family. We anticipate continued growth in the Japanese and other Asian nuclear power plant markets over the next decade."

Mr. Michael Kraft, Vice President of Ceradyne Nuclear and Semiconductor Business Units, stated: "Our strategy in Asia is to have a regional 'on the ground' presence. We have achieved this in China and now our formal partnership with Yamanaka EP Corporation ensures a close professional presence in Japan and the rest of Asia. Yamanaka EP Corporation has been working with Ceradyne's Boron Products subsidiary and its predecessor in Quapaw, Oklahoma, for over 15 years, and we are looking forward to expanding this relationship into other Ceradyne products."

[R-BgO]

Tic, Tac, was in' Sack:

Ceradyne, Inc. Receives $36 Million XSAPI Body Armor Order
COSTA MESA, CA, Mar 31, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) announced that it has received a delivery order for approximately $36 million for XSAPI ("X" Small Arms Protective Insert) ceramic body armor plates. Ceradyne will begin shipping this XSAPI production release in the second quarter this year with full shipment expected to be completed in the third quarter 2011.

The release was issued under the $2.37 billion ID/IQ (Indefinite Delivery/Indefinite Quantity) contract originally issued in October 2008 and scheduled to expire in September 2013. There is a balance of approximately $2.1 billion remaining on the ID/IQ contract. Ceradyne's practice is to only book firm delivery orders such as the above $36 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President, North American Operations, commented: "We are extremely pleased to have been awarded this XSAPI contract. We anticipate meeting the government's quality and delivery requirements with this delivery order shipped complete in Q3 2011."

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Ceradyne, Inc. (NASDAQ: CRDN) reported financial results for the first quarter ended March 31, 2011.

Sales for the first quarter 2011 were $150.1 million, compared with $110.0 million in the first quarter 2010. Net income for the first quarter 2011 increased to $23.6 million, or $0.94 per fully diluted share, compared to $5.0 million, or $0.20 per fully diluted share in the first quarter 2010. The net income for the first quarter 2011 included an acquisition related charge of $0.6 million or a reduction of approximately $0.01 to fully diluted earnings per share. The net income for the first quarter 2010 included a pre-tax charge for losses on auction rate securities of $1.9 million and an acquisition related credit of $84,000 which, combined, resulted in a reduction of approximately $0.04 to fully diluted earnings per share. Fully diluted average shares outstanding for the first quarter 2011 were 25,129,924 compared to 25,585,369 in the same period in 2010.

Taking into consideration the strong financial results in the first quarter of 2011 tempered by the continued uncertainty of body armor shipments in the latter part of the second half of 2011, the Company is increasing its 2011 full-year guidance to a range of $3.10 to $3.50 fully diluted earnings per share and a range of $570 million to $600 million in sales. The prior 2011 guidance issued on March 9, 2011 was $2.35 to $2.70 earnings per fully diluted share and $505 million to $560 million in sales.

Gross profit margin was 38.7% of net sales in the first quarter 2011 compared to 23.1% in the same period in 2010. The provision for income taxes was 32.3% in the first quarter 2011, compared to 23.5% in the first quarter 2010.

New orders for the first quarter 2011 were $231.7 million, compared to $105.7 million for the same period last year. Total order backlog as of March 31, 2011 was $267.4 million, compared to $130.8 million at March 31, 2010.

Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: "We are extremely pleased with Ceradyne's first quarter performance. Almost all areas reflected an excellent start to 2011. New orders of $231.7 million and an order backlog of $267.4 million indicate a strong 2011, as these numbers are double the Q1 2010 results as well as reflect a positive book-to-bill ratio of 1.54:1.00. Perhaps the most encouraging Q1 operating result is the continuing increase in gross margins. These Q1 results and a cautiously optimistic outlook for the balance of 2011 are the basis for increasing our 2011 guidance."

Mr. Moskowitz further stated, "Our recently acquired VIOX operation continued to exceed internal expectations and we have committed to significantly increase its capacity in the field of bio-active materials in anticipation of increasing demand for VIOX materials as a component in consumer dental products.

"The new high purity fused silica ceramic solar crucible factory in Tianjin, China, commenced initial shipments of its crucibles to Ceradyne's key accounts for qualification in February and March. All Ceradyne customers who received initial crucibles from the new Tianjin factory have approved them for production quantities which will begin shipping in Q2, 2011.

"While the projected Enhanced Combat Helmet (ECH) procurement has been delayed, our outlook for the recently introduced PetroCeram(R) ceramic sand screens has strengthened."

[R-BgO]

Ceradyne, Inc. Receives $3.5 Million ESAPI Body Armor Order
COSTA MESA, CA, Apr 29, 2011 (MARKETWIRE via COMTEX) --

Ceradyne, Inc. (NASDAQ: CRDN) announced that it has received a delivery order for approximately $3.5 million for ESAPI (Enhanced Small Arms Protective Insert) ceramic body armor plates. Ceradyne plans to complete this delivery order in the third quarter 2011.

The release was issued under the $2.37 billion ID/IQ (Indefinite Delivery/Indefinite Quantity) contract originally issued in October 2008 and scheduled to expire in September 2013. There is a balance of approximately $2.1 billion remaining on the ID/IQ contract. Ceradyne's practice is to only book firm delivery orders such as the above $3.5 million as backlog for scheduled delivery.

David P. Reed, Ceradyne President, North American Operations, commented: "We are extremely pleased to have been awarded this ESAPI contract which represents the continuing nature of ESAPI requirements. We anticipate meeting the government's quality and delivery requirements with this delivery order shipped complete in Q3 2011."

[R-BgO]

Kaufgelegenheit?:

Ceradyne, Inc. Reports Second Quarter, Six-Month 2011 Financial Results / Reiterates 2011 Full Year Guidance
COSTA MESA, CA -- (Marketwire) -- 07/26/11 -- Ceradyne, Inc. (NASDAQ: CRDN) reported financial results for the second quarter and six months ended June 30, 2011.

Sales for the second quarter 2011 were $145.4 million, compared with $100.4 million in the second quarter 2010. Net income for the second quarter 2011 increased to $19.1 million, or $0.76 per fully diluted share, compared to a net income of $6.6 million, or $0.26 per fully diluted share in the second quarter 2010. Net income for the second quarter 2011 included a pre-tax charge of $4.2 million for temporary production issues that were identified and corrected in the quarter. The net income for the second quarter 2010 included a pre-tax gain on auction rate securities of $0.9 million or an increase of approximately $0.03 to fully diluted earnings per share. Fully diluted average shares outstanding for the second quarter 2011 were 25,223,757 compared to 25,596,968 in the same period in 2010.

The Company reiterated its 2011 full year guidance of a range of $3.10 to $3.50 fully diluted earnings per share, and a range of $570 million to $600 million in sales.

Gross profit margin was 36.4% of net sales in the second quarter 2011 compared to 25.7% in the same period in 2010. The provision for income taxes was 34.8% in second quarter 2011, compared to a provision for income taxes of 18.2% in the same period in 2010.

Sales for the six months ended June 30, 2011 were $295.5 million, compared with $210.5 million in the same period last year. Net income for the six months ended June 30, 2011 was $42.7 million, or $1.70 per fully diluted share, on 25,171,897 shares, compared to net income of $11.6 million, or $0.45 per fully diluted share, on 25,575,889 shares in the prior year period.

Gross profit margin was 37.6% of net sales in the six months ended June 30, 2011, compared to 24.3% in the same period in 2010. The provision for income taxes was 33.4% in the six months ended June 30, 2011, compared to a provision for income taxes of 20.5% in the same period in 2010.

New orders for the three months ended June 30, 2011 were $108.8 million, compared to $87.6 million for the same period last year. For the six months ended June 30, 2011, new orders were $340.5 million, compared to $193.3 million for the comparable period last year.

Total backlog as of June 30, 2011 was $230.8 million, compared to total backlog at June 30, 2010 of $118.0 million.

Total cash, cash equivalents and short-term investments increased to $273.2 million at June 30, 2011, compared to $246.3 million at December 31, 2010.

Joel P. Moskowitz, Ceradyne president, chief executive officer and chairman of the board, commented: "As stated above, management remains comfortable with, and reiterates its guidance for the full year 2011 of a range of $3.10 to $3.50 fully diluted earnings per share and a range of $570 million to $600 million in sales as announced by the Company on April 26, 2011. Although we experienced somewhat less than expected shipments of photovoltaic related ceramic crucibles in Q2 and anticipate some reduction in crucible shipments from our original plan for the last half of 2011, the recently announced $36.2 million ESAPI ceramic body armor award along with continued strength in other parts of Ceradyne are anticipated to allow us to meet our guidance.

"We are continuing to execute our stock buyback program. In Q2, we bought back 100,000 Ceradyne shares for approximately $3.9 million or $38.89/share. Thus far, we have bought back 3,099,371 shares for $78.1 million or $25.20/share, leaving approximately $21.9 million remaining in the original stock buyback plan."

Mr. Moskowitz further stated: "I am particularly pleased with the implementation of our strategy of product, market and geographic diversity. The continued strength of our German operation, ESK Ceramics, contributed over 26% of our pre-tax profits for the six months ended June 30, 2011. On August 8, ESK will officially open its 40,000 square foot Tianjin, China facility. This will be ESK's initial production facility in China, and is anticipated to allow a stronger presence of its industrial ceramic product line in China and Southeast Asia.

"We continue to view opportunities in oil and gas, nuclear related boron, neutron absorbing ceramics for nuclear power plants, defense related products and photovoltaic products as core growth product lines."

[R-BgO]

10/25/2011 12:00:00 AM


COSTA MESA, CA--(Marketwire - October 25, 2011) - Ceradyne, Inc. (NASDAQ: CRDN) reported financial results for the third quarter and nine months ended September 30, 2011.

Sales for the third quarter 2011 were $148.0 million, compared with $91.8 million in the third quarter 2010. Net income for the third quarter 2011 increased to $20.4 million, or $0.82 per fully diluted share, compared to a net income of $4.5 million, or $0.18 per fully diluted share in the third quarter 2010. Fully diluted average shares outstanding for the third quarter 2011 were 24,811,389 compared to 25,141,214 in the same period in 2010.

On July 26, 2011, Ceradyne reiterated its 2011 full-year guidance of a range of $3.10 to $3.50 fully diluted earnings per share and a range of $570 million to $600 million in sales. Although we believe there will be a reduction in solar crucible shipments in Q4, we anticipate this reduction will be offset with increasing sales in other Ceradyne product lines. Ceradyne believes it will meet its full-year 2011 guidance.

Gross profit margin was 36.3% of net sales in the third quarter 2011, compared to 25.7% in the same period in 2010. The provision for income taxes was 34.6% in the third quarter 2011, compared to a provision for income taxes of 10.2% in the same period in 2010.

At this time, Ceradyne anticipates some top-line growth in 2012 with continued softness in solar crucibles early in 2012, firming as the year progresses. Due to a lack of visibility in certain areas -- including the timing and probability of the Enhanced Combat Helmet (ECH) award, volume and margins related to solar crucibles, and other possible contracts -- that are expected to be resolved within the next three or four months, Ceradyne will issue full guidance for 2012 when it reports year-end results in February. Among the areas expected to grow in 2012 are Ceradyne's defense and industrial products lines. Although the following are not expected to make a material contribution to 2012 financial results, growth is also expected in recently introduced new products, such as PetroCeram® oil and gas ceramic sand screens, thrust bearings, and chemical and pharmaceutical micro reactors, which have had significant technical and field successes at the prototype level in 2011.

Sales for the nine months ended September 30, 2011 were $443.5 million, compared with $302.2 million in the same period last year. Net income for the nine months ended September 30, 2011 was $63.1 million, or $2.52 per fully diluted share, on 25,029,282 shares, compared to net income of $16.1 million, or $0.63 per fully diluted share on 25,505,659 shares in the prior year period.

Gross profit margin was 37.2% of net sales in the nine months ended September 30, 2011 compared to 24.8% in the same period in 2010. The provision for income taxes was 33.8% in the nine months ended September 30, 2011, compared to a provision for income taxes of 17.9% in the same period in 2010.

New orders for the three months ended September 30, 2011 were $272.0 million, compared to $110.8 million for the same period last year. For the nine months ended September 30, 2011, new orders were $612.5 million, compared to $304.0 million for the comparable period last year.

Total backlog as of September 30, 2011 was $354.9 million, compared to total backlog at September 30, 2010 of $136.3 million.

Total cash, cash equivalents and short-term investments increased to $259.0 million at September 30, 2011 compared to $246.3 million at December 31, 2010.

Joel P. Moskowitz, Ceradyne president, chief executive officer and chairman of the board, commented, "We are pleased with our Q3 financial performance, particularly our new orders and backlog. Our diversification strategy is resulting in continued growth and a 'smoothing' of performance. Diversity of products, markets and geography has resulted in our Company relying on not one but three broad markets, namely defense, industrial and energy related advanced technical ceramics as we implement our 5 year Ceradyne $1 Billion goal."

Mr. Moskowitz further stated, "The recently announced ESAPI ceramic body armor order was an Indefinite Delivery, Indefinite Quantity (ID/IQ) contract for one year, plus options for two additional years. The first delivery order for $127 million will primarily be shipped in 2012. We believe similar delivery orders will be issued for shipment in 2013 and 2014.

"Our new products continue to demonstrate unusually superior performance in the field. We have now completed over 1 1/2 years of outstanding performance of our PetroCeram® ceramic sand screens in the North Sea and our patented ceramic thrust bearings for oil drilling have successfully completed tests, including horizontal drilling, in hostile environments."

Mr. Moskowitz continued, "The development of new state-of-the-art technical ceramic products will remain a high Ceradyne priority with continued R&D support, particularly in our R&D centers in Kempten, Germany and Costa Mesa, California.

"In Q3, we purchased 742,934 shares of Ceradyne stock at an average price per share of $29.46. This completed our initial $100 million stock buyback. On August 30, 2011, the Ceradyne Board authorized an additional share purchase of $100 million."

[R-BgO]

sehr schön:

February 16, 2012
Ceradyne, Inc. Initiates Quarterly Dividend
COSTA MESA, CA -- (MARKET WIRE) -- 02/16/12 -- Ceradyne, Inc. (NASDAQ: CRDN) announced today that its Board of Directors approved the initiation of a quarterly cash dividend to its shareholders. This is the first cash dividend paid to shareholders in the company's history.

A quarterly dividend of $0.15 per common share will be paid on March 20, 2012 to all shareholders of record as of the close of business on March 6, 2012.

Joel P. Moskowitz, Ceradyne's chairman, chief executive officer and president commented: "We are very pleased to pay our first quarterly dividend. Although the Board of Directors will review our dividend payout each quarter, it is our intent that the Ceradyne dividend will be a regular quarterly event. We have chosen this particular time to initiate a cash dividend because:

We believe it demonstrates management's commitment to enhance shareholder value in a responsible manner.
We can afford it. With our strong balance sheet, cash position, and projected positive cash flow, we anticipate significant dividend coverage at approximately $3.7 million per quarter payout.
We will be able to continue our internal capital expenditure and acquisition strategy. We will also leave in place our $100 million stock buyback authorization, which will be executed in an opportunistic manner by management."

[R-BgO]

auch die sonstigen Zahlen sind ok; KGV mal wieder unter 10

[R-BgO]

ich hätte es eigentlich wissen müssen:


April 24, 2012
Ceradyne, Inc. Reports First Quarter 2012 Financial Results
COSTA MESA, CA -- (Marketwire) -- 04/24/12 -- Ceradyne, Inc. (NASDAQ: CRDN) reported financial results for the first quarter ended March 31, 2012.

Sales for the first quarter 2012 were $106.3 million, compared with $150.1 million in the first quarter 2011. Net income for the first quarter 2012 decreased to $3.8 million, or $0.16 per fully diluted share, on 24,360,450 shares, compared to a net income of $23.6 million, or $0.94 per fully diluted share on 25,129,924 shares in the first quarter 2011.

Gross profit margin was 27.4% of net sales in the first quarter 2012, compared to 38.7% in the same period in 2011. The provision for income taxes was 36.9% in the first quarter 2012, compared to 32.3% in the same period in 2011.

New orders for the three months ended March 31, 2012 were $80.8 million, compared to $231.7 million for the same period last year.

Total backlog as of March 31, 2012 was $259.5 million, compared to total backlog at March 31, 2011 of $267.4 million.

Total cash, cash equivalents and short-term investments were $270.1 million at March 31, 2012 compared to $275.0 million at December 31, 2011.

Joel P. Moskowitz, Ceradyne president, chief executive officer and chairman of the board, commented: "Ceradyne's practice is not to provide quarterly guidance but to provide its best outlook for full-year performance. Although we had previously stated an expected soft first quarter, we are disappointed with the above reported results.

"The unusually sharp decline in solar photovoltaic crucible shipments to levels less than 20% of Q1 2011 was a substantial reason for the Q1 2012 results. This decline flies in the face of increasing global solar installation demand from 2010's 22 gigawatts to 2011's estimated 26.7 gigawatts. We believe the problem is the significant over capacity and excessive inventory build by our customers, the Chinese solar module manufacturers. As our customers 'work off' their inventory of silicon wafers and require our ceramic crucibles for new silicon ingot melting, we anticipate very gradual improvement of this market later in 2012.

"Furthermore, the final government approval (after successful First Article Testing) for shipping our large ESAPI body armor sustainment award was not received until very late in March, pushing scheduled ESAPI shipments into Q2.

"We believe our financial performance will improve for the balance of 2012 beginning in Q2."

Mr. Moskowitz further stated: "In February this year, we issued our initial guidance for 2012 of sales ranging from $590 million to $625 million with earnings of $2.30 to $2.65 per fully diluted share. We now feel that the weaker than expected Q1 and the uncertainty of the solar market recovery may result in reduced operating performance and, thus, we are revising the above guidance to a sales range of $540 million to $565 million and fully diluted earnings per share of $1.40 to $1.65. This guidance assumes a very gradual improvement in the solar market later this year, a 'catch up' on our delayed Q1 ESAPI shipments, but reduced helmet revenues due to the delays in receiving the initial low rate production orders."

Mr. Moskowitz continued: "We are continuing to focus on our longer term 'Ceradyne $1 Billion' revenue strategy. Recent positive events in our early stage product introduction should be noted. The Ceradyne/ESK Petro Ceram® ceramic sand screens, which are in place since 2010, continue to perform well above expectations and recent quoting activities from potential new accounts in South America and Europe give us further confidence as to our future in the oil and gas business. Also, in the energy sector, Ceradyne Boron Products continues to establish relationships and partnering opportunities for nuclear reactor related materials for China, as well as with large nuclear reactor companies such as Westinghouse/Toshiba and France's Areva.

"Furthermore, we are currently evaluating several acquisition opportunities in Europe and the U.S.A. Our balance sheet puts us in a strong negotiating position as we look at potential acquisitions. Additionally, our cash position is expected to allow us to increase shareholder value through quarterly dividends, opportunistic share buybacks, as well as expanding our capacity internally with targeted capital expenditures."

[R-BgO]

Antwort auf Beitrag Nr.: 43.081.137 von R-BgO am 24.04.12 15:51:36

und Q2 war auch mau;

habe so ein bisschen das Gefühl, dass Moskowitz alles auf zyklische Tiefs in Solar schiebt, es aber möglicherweise einen shift zu selbst gebauten crucibles gibt...

[R-BgO]

nett, aber auch schade;

ich mochte Moskovitz


ST. PAUL, Minn. & COSTA MESA, Calif. – Oct. 1, 2012 – 3M (NYSE:MMM) and Ceradyne, Inc. (NASDAQ:CRDN) announced today that they have entered into a definitive agreement for 3M's acquisition of Ceradyne, Inc. for $35.00 per share. The proposed transaction has an aggregate value of approximately $860 million, or approximately $670 million net of cash, cash equivalents, short-term investments and debt acquired.

The agreement provides for a subsidiary of 3M to commence a tender offer to purchase all outstanding shares of Ceradyne within ten business days. The Board of Directors of Ceradyne has unanimously recommended that the stockholders of Ceradyne accept the offer. The offer will be subject to the tender of a majority of Ceradyne’s shares and to certain other customary closing conditions. The transaction is expected to close during the fourth quarter of this year.

Headquartered in Costa Mesa, Calif., with operations in the U.S., Canada, China and Germany, Ceradyne has annual revenue of approximately $500 million. Ceradyne is a worldwide leader in the development and production of advanced technical ceramics for demanding applications in the automotive, oil and gas, solar, industrial, electronics and defense industries. The unique characteristics of advanced technical ceramics offer significant advantages over traditional materials such as metals and plastics.

The combination of Ceradyne and 3M will enable new technologies and innovation for uniquely tailored materials requiring advanced ceramics. Ceradyne will join the 3M Energy and Advanced Materials Division within 3M’s Industrial and Transportation Business. The 3M Energy and Advanced Materials Division provides valued materials for lightweight solutions and materials for performance in harsh environments to customers in a broad array of growth industries.

3M Industrial and Transportation Business Executive Vice President Chris Holmes said, “Ceradyne is a strong company with a great reputation, world-class technology in advanced ceramics, and leadership positions in the markets it serves. Ceradyne is an excellent complement to our existing businesses in transportation, energy markets and defense. By joining 3M, Ceradyne associates will have the opportunity to use the power of 3M’s global reach, culture of commercializing new products and operational discipline to accelerate this platform in serving our customers with highly valued solutions.”

[R-BgO]

Antwort auf Beitrag Nr.: 43.667.431 von R-BgO am 02.10.12 08:34:28

geclosed; Stücke heute ausgebucht

over-and-out

[RayNar]

Gratulation R-BgO!

Damit kann ich diesen Watchlist-Wert, wo ich nie zugegriffen habe, auch zu den Akten legen.