Ceradyne Inc. Reports 1986 Earnings of $29,000
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Ceradyne Inc. said it earned a scant $29,000 for 1986, down from $993,000 for the previous year. Sales for the year, however, rose 14% to $19.1 million from $16.75 million.
The company’s problems came in the fourth quarter, when Ceradyne posted a net loss of $1 million, contrasted with a net income of $427,000 for that period a year earlier. Sales for the final quarter of 1986 rose 8% to $5.4 million, from $4.98 million for the year-earlier period.
The Costa Mesa-based defense and aerospace contractor attributed the fourth-quarter loss to a decline in shipments at its defense-related business.
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