Ceradyne Slashes 2009 Outlook Again, Inks Helmet Takeover

Ceradyne Inc. (CRDN) cut its 2009 forecast, blaming economic weakness and fewer-than-expected shipments of armor for the maker of advanced ceramics for use in body and vehicle armor.

The company now sees earnings of 70 cents a share on revenue of $420 million to $440 million. Ceradyne in April projected a profit of $1.60 a share, well below analysts' then-expectations, on revenue of about $465 million.

"Global economic conditions have continued to deteriorate, impacting many of our customers as well as a number of our businesses," said Chairman and Chief Executive Joel P. Moskowitz.

Read Full Article from Wall Street Journal

- Posted: 2009-06-09 07:26:15

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