CERADYNE INC (Nasdaq:CRDN)

[nemo17]

Mi sembra un'ottima small cap .

Headquartered in Costa Mesa, California, Ceradyne Inc. is a fully integrated developer and manufacturer of advanced technical ceramic products and components for defense, industrial, automotive/diesel, electronic and medical markets.

Founded in 1967, Ceradyne has diversified its advanced technical ceramic product lines to capture opportunities created by growing demands for better materials performance. In late 2004, the company added new product lines and new markets—and one of the world's leading suppliers of starting powders for manufacturing advanced ceramics products—by acquiring ESK Ceramics of Kempten, Germany.

The unique characteristics of advanced technical ceramics—hardness, light weight, ability to withstand extremely high temperatures, resistance to wear and corrosion, low friction, and special electrical properties—offer significant advantages over traditional materials such as metals and plastics. As a result, components made from Ceradyne advanced technical ceramics are being used in a growing number of high performance applications in an ever-widening range of industries.

Ceradyne's markets and applications:

Defense:


Military: ballistic armor protection for personnel, tactical vehicles, helicopters, aircraft
Aerospace: missile nose cones

Industrial:

Manufacturing equipment/processes: components for aluminum processing, silicon refining, semiconductor processing, aluminum metalizing, cast iron and super-alloy cutting


Casting/pressing/forming: components for steel and aluminum casting, titanium forming, glass tempering, thin-strip metal casting

Petrochemical: parts/tools for crude oil drilling, extraction, measurement Ceramic
powders: boron-based, silicon-based, diborides

Automotive/Diesel Engine:

Drive train and fuel pump components for class 8 diesel engines
Insulators for jet engine igniters
Piston pins

Medical/Dental:

Medical components for surgical procedures, joint replacements, defibrillators
Dental implants, crowns, translucent orthodontic brackets


Ceradyne's operating divisions are located in the U.S., Canada and Europe:

Advanced Technical Ceramics: Costa Mesa and Irvine, California
Advanced Ceramic Operations: Lexington, Kentucky
Vehicle Armor Systems: Wixom, Michigan
Thermo Materials: Atlanta, Georgia
Semicon Associates: Lexington, Kentucky
Quest Technology: San Diego, California

Ceradyne CANADA: Chicoutimi, Quebec, Canada
ESK Ceramics: Kempten, Germany and Bazet, France

L'azienda costruisce e sviluppa prodotti molto avanzati in ceramica e sta ottenendo molte commesse dall'esercito americano per quanto riguarda le armature dei giubbotti dei soldati e i mezzi da trasporto:


COSTA MESA, Calif.--Dec. 22, 2006--Ceradyne, Inc. (Company) (NASDAQ:CRDN) received a $133 million delivery order for ESBI (Enhanced Side Ballistic Inserts) from the U.S. Army, Aberdeen Proving Ground, Maryland. This new delivery order is scheduled to be shipped beginning April 2007 through November 2007. The order will be shipped against a larger indefinite delivery/indefinite quantity (ID/IQ) contract announced earlier. The Company records as firm orders only delivery orders, such as the above, that have scheduled delivery dates.



Dave Reed, Ceradyne President North American Operations, commented: "This delivery order is the largest single order ever received by Ceradyne. Together with the $122.2 million in ESAPI and ESBI body armor orders announced last month, we have excellent visibility into 2007. Utilizing the Lexington, Kentucky, facility and the Costa Mesa and Irvine, California, plants, we expect to meet the Army's quality and delivery requirements. We anticipate receiving additional orders early in 2007 for delivery in 2007."

E sta andando molto bene:


COSTA MESA, Calif.--Nov. 1, 2006--Ceradyne, Inc. (Nasdaq:CRDN)
reported financial results for the third quarter and nine months ended
September 30, 2006, including record sales and record net income.

Sales for third-quarter 2006 rose to a record $185.8 million from
$94.4 million in third-quarter 2005. Net income for third-quarter 2006
increased to a record $36.9 million, or $1.34 per diluted share,
compared to $13.3 million, or $0.53 per diluted share, in the third
quarter of 2005. Fully diluted average shares outstanding for the
third quarter were 27.5 million compared to 25.1 million in the same
period in 2005.

Gross profit margin was 38.0% of net sales in third-quarter of
2006, up from 36.9% in third-quarter of 2005.

The provision for income taxes was 31.7% in third-quarter 2006,
compared to 35.2% in third-quarter 2005.

Sales for the nine months ended September 30, 2006 reached a
record $484.2 million, up from $254.1 million in the same period last
year. Net income for the first nine months of 2006 increased to a
record $90.7 million, or $3.31 per diluted share, on 27.4 million
shares, from $30.7 million, or $1.23 per diluted share, on 25.0
million shares, for the same nine-month period in 2005.

New bookings for the third quarter of 2006 were $138.3 million,
compared to $67.8 million for the same period last year. For the first
nine months of 2006, new bookings increased to a record $416.5
million, compared to $242.8 million for the comparable period last
year.

Total backlog as of September 30, 2006 was $209.1 million,
compared to total backlog at September 30, 2005 of $189.6 million.

Joel Moskowitz, Ceradyne president and chief executive officer,
commented: "The above record-setting results for third quarter 2006
reflect the continuing strength and increased volume of our body armor
production in California and Lexington, Kentucky in both ESAPI body
armor and ESBI side plates. Additionally, the 2004 acquisition of ESK
Ceramics (Kempten, Germany) has resulted in a vertically integrated
technical ceramic manufacturing process from raw man-made powder to
finished product, which is expected to enable Ceradyne to meet future
requirements in both military and commercial production applications.

"During the quarter, the Company continued to staff and facilitize
its Ceradyne Canada operation in Chicoutimi, Quebec in order to begin
production of radioactive shielding components for nuclear waste
containment vessels, as well as other metal matrix composite
(MMC-aluminum plus ceramic) components for military applications.

"In the past week, Ceradyne broke ground in Tianjin, China for a
wholly owned 105,000 square foot ceramic manufacturing facility
designed to meet the growing demand from within China for high purity
ceramic crucibles used in the manufacture of silicon photovoltaic
solar cells. We anticipate that this new plant will commence
operations in early to mid-2007.

"The recent expansions in Canada and China are part of our longer
range strategy to increase our commercial businesses with a worldwide
focus."

Moskowitz added, "Our strong balance sheet as of September 30,
2006 with $175 million in cash, cash equivalents and short term
investments provides us with the financial resources to meet our
strategic objectives of acquisitions, as well as expansion of our
commercial and military businesses."


Nonostante ciò i multipli attesi per il 2007 sono molto interessanti :

ROE 30%
P/E 10
indebitamento praticamente nullo.

L'unica cosa che mi frena è la mia esposizione nei confronti del dollaro.

 

[nemo17]

CERADYNE COMPANY OF THE YEAR

Title:
Ceradyne, Inc. Named 2006 Growth Company of the Year at NAIC's Betterinvesting National Convention
Date: 9/7/2006 12:00:00 AM



COSTA MESA, Calif.--Sept. 7, 2006--Ceradyne, Inc. (Company) (Nasdaq:CRDN) Chief Financial Officer Jerrold J. Pellizzon today accepted on behalf of the Company the 2006 Growth Company of the Year Award from the National Association of Investors Corporation (NAIC) at its BetterInvesting National Convention being held September 7-10 at the Hyatt Regency Columbus Hotel in Columbus, Ohio.

James Johnson, a director of the National Investors Association advisory board, which sponsors the annual BetterInvesting convention, presented the award to Mr. Pellizzon, who gave a brief acceptance speech.

The Growth Company of the Year award has been presented annually since 1952 to U.S. companies representing the principles of American free enterprise. Companies are nominated on the basis of sales and earnings growth, product and service excellence, and outstanding management and employee and public relations. Past award winners include Cisco Systems, EMC, Home Depot, McDonald's, Philip Morris, Stryker Corporation, and Walmart Stores.

Founded in 1951, NAIC is a non-profit organization that has provided investment information and education to more than five million individual investors and investment clubs. NAIC's members earn an average annual income of $114,100, and more than 72% of these members hold a college or post-graduate degree. Members hold stock for an average four years, and their investment portfolios combined total more than $117 billion. NAIC members altogether invest approximately $131 million of new money each month.

 

[VIA COL VENTO]

CERADYNE INC

SE C'E' INTENZIONE DI COMPRARE QUESTO TITOLO IL DOLLARO PUO' RITRACCIARE SULL'AREA 1,305-1,31 AL MASSIMO 1,3150 E DOPO SCENDE PREPOTENTEMENTE SULL'AREA 1,28 CON POSSIBILITA' DI ARRIVO ANCHE SULL'AREA 1,25 PERTANTO IL DOLLARO NON DEVE PREOCCUPARE AFFATTO PERCHE' SICURAMANTE SI COMPRA BENE ADESSO E NON BISOGNA ASPETTARE PIU' DI TANTO IO PERSONALMENTE NON SONO INTERESSATO A TITOLI ESTERI ANCHE SE CI SONO ALCUNI TITOLI INDIANI CHE SICURAMAMENTE SOVRAFFORMERANNO NEL CORSO DEL 2007:IL MOTIVO PRINCIPALE DI QUESTA MIA DESISTENZA E' PERCHE' GIA' OPERO SUI CANALI ESTERI CON COMPRA-VENDITA DI SOLA VALUTA E PER IMPORTI ASSAI RILEVANTI.UN SALUTO

 

[nemo17]

Ceradyne, Inc. Reports Unaudited Preliminary Fourth-Quarter, 12-Month 2006 Results
Sales, New Orders and Backlog Hit Record Levels for Quarter, Year

COSTA MESA, Calif.--(BUSINESS WIRE)--Jan. 9, 2007--Ceradyne, Inc. (Nasdaq:CRDN) today announced unaudited preliminary results for the fourth quarter and year ended December 31, 2006.

Fourth-quarter sales of approximately $178 million were a record, representing a 56% increase from $114 million in the fourth quarter of 2005. New orders of $314 million, also a quarterly record, rose 56% from $201 million in the fourth quarter of 2005.

For the year ended December 31, 2006, sales reached a record of approximately $663 million, 80% higher than the $368 million reported in 2005. Total new orders for the year also hit a record of approximately $730 million, a 64% increase from $444 million in 2005.

Backlog at the end of 2006 was a record of approximately $344 million, an increase of 25% over year-end 2005 backlog of $276 million.

For the full year 2006, the book-to-bill ratio was 1.1.

Management believes that the 2006 earnings-per-share results will be at the upper end of the guidance range of $4.45 to $4.55 per diluted share provided in the Ceradyne teleconference on November 1, 2006.

Final results, including earnings for the fourth quarter and year ended December 31, 2006, will be released in late February 2007.

Joel Moskowitz, Ceradyne chief executive officer, commented, "We are particularly pleased with the surge in orders and backlog which provides good visibility for 2007. Our positive operating performance as it relates to lightweight ceramic body armor is responsible, to a large degree, for the record preliminary results reported today. Our strategy continues to focus on meeting the government's requirements for lightweight ceramic body armor, while proactively seeking to diversify our product lines.

"We anticipate that 2007 will see progress in areas such as military vehicular armor, new markets and new facilities, such as our nuclear waste containment plant in Chicoutimi, Quebec, Canada, our photovoltaic solar cell crucible factory being built in Tianjin, China, and other industrial and consumer products and markets. We also intend to utilize our strong balance sheet as we seek appropriate acquisitions."

 

[GASFIN]

sembra un pò tiratina, e poi c'è un gap intorno hai 28.00 ! mah.....

 

[nemo17]

Il mercato apprezza però..quasi + 5% !

 

[deardevil]

BRAVO! Veramente un ottimo titolo value!

 

[killer]

Ci andrei cauto..... buona redditività ma caro sui valori di libro e sulle vendite, titolo non lontanissimo dai max storici e solo vendite degli insider a novembre e dicembre

http://www.secform4.com/insider-trading/18937.htm


Ciaoooooooooooo

 

[deardevil]

For the year, Ceradyne’s sales were $663 million, which is an 80% jump from $368 million in 2005. Ceradyne’s new orders hit $730 million, which is an increase of about 64% compared with 2005. The company also affirmed that full-year EPS should come in at the high end of the guidance range it had provided analysts and investors.

And here’s where the roller coaster hit its dip…

On Wednesday, an analyst covering CRDN lowered his rating on the stock, but raised his target price…

The analyst cited the run-up in CRDN shares over the last year and doubts whether U.S. military orders will continue to be strong in the face of pressure to reduce troop numbers in Iraq.

It’s sent the stock into a tailspin -- down to the mid-$53 level as I write.

I think the fundamentals remain in place for CRDN to deliver on the optimism that its management sees, as well as what we forecast. Let’s run it down:

A possible surge approach to fighting the war in Iraq, using perhaps 20,000 additional soldiers in the region, represents incremental business for CRDN that is probably not baked into the company’s optimism. So from a business standpoint, this is a pure bonus
Secretary of Defense Robert Gates recommended to the president an increase of 92,000 soldiers for the Army and the Marines, including a 6.8% increase in the U.S. Army alone
The current administration still has a dim view of Iran and Syria, with military action seemingly still on the table.
Any downgrade of Ceradyne is really a statement that our Mideast involvement has an end in sight. We think U.S. involvement, perhaps at a police-action level, will persist longer than Democrats would prefer.

And the other armor stocks in the marketplace -- Ceradyne’s peers -- seem to agree with our assessment…

Armor Holdings is still securing armor deals with the U.S. Army this week. Since last Friday, the stock is up 10%! Force Protection, which all of you know very well now, is up 7% just today, and 20% since last Friday! Part of Force’s move is based on its move to the Nasdaq Capital Market and some new analyst coverage recently initiated, but it’s also mirroring our belief in continued spending on troop armor.

If we’re wrong…and I don’t think we are…our saving grace in all of this is that CRDN is still cheap! It is now at 13.9 times earnings, and also 13.9 times cash flow. That’s well below its historical averages, and from an earnings perspective, about 50% cheaper than the industry.

 

[nemo17]

Secondo me gran bell'azienda.
Attualmente è un po' sbilanciata sul comparto difesa ma la situazione in Iraq con l'aumento dei militari impegnati potrebbe portare ulteriori commesse.
E' però presente in svariati settori molto interessanti come quello dello smaltimento delle scorie radioattive.
Nel frattempo è un pochino scesa dai massimi ...