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EARNINGS

Sales Higher at Ceradyne, but Profits Under Pressure

August 11, 1987

Ceradyne Inc. reported higher sales for the second quarter and the first half of 1987, but net income dropped due in part to costs associated with the company's former dependence on military programs.

For the quarter ended June 30, net income declined to $133,000, from $350,000 in the same period last year. Sales rose to $7.1 million from $4.1 million a year ago.

For the first half of 1987, net income declined to $222,000, from $559,000, in the comparable prior-year period. Sales rose to $14 million from $8.6 million a year ago.

Management said that sales increased due to new industrial and consumer technical ceramic product introductions, as well as acquisitions, but it expects continued pressure on profitability.

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