Ceradyne Inc.
The Costa Mesa maker of technical ceramics posted fourth quarter net income of $1.2 million, or 14 cents a share, a gain of 81% from the $658,000, or 8 cents a share, recorded for the 1999 fourth quarter. Sales advanced 30% to $11.6 million. Net income for the year climbed to a record $5.1 million, or 61 cents a share, from $1.6 million, or 20 cents a share, for 1999. Sales rose 51% to a record $45.9 million.
The company said new bookings for the latest year rose more than 35% to $50.9 million.
Ceradyne anticipates growth in defense product lines, Clarity orthodontic ceramic brackets, and industrial and diesel engine components.
The company said its strong balance sheet and cash position should allow it to fund anticipated growth or possible acquisitions primarily from internally generated sources.
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