Ceradyne, Inc. (CRDN) reported third quarter net income of $4.94 million or $0.19 per share, compared to $18.82 million or $0.71 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share. Analysts' estimates typically exclude special items.
Sales for the third quarter 2009 were $107.95 million, compared with $167.75 million in third quarter 2008. Eight analysts estimated revenues of $109.98 million.
The Company is adjusting its guidance for the full fiscal year 2009 from $.70 per share to approximately $.60 per share and from sales of $420 to $440 million to sales of $410 to $415 million.
Analysts expect the company to earn $0.65 per share, on revenues of $419.04 million.
Further, the company said it is establishing a wide range for its initial guidance for 2010.
The company expects sales range from $380 million to $430 million and earnings range from $0.60 to $1.05 per share.
Analysts expect the company to earn $1.08 per share, on revenues of $420.53 million.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.