Ceradyne reiterates 2010 sales, profit outlook; sees less reliance on body armor sales

Ceradyne reiterates 2010 guidance

NEW YORK — Ceramics products maker Ceradyne Inc. on Tuesday reiterated its 2010 expectation for earnings between 60 cents per share and $1.05 per share on sales of $380 million to $430 million.

Analysts polled by Thomson Reuters expect earnings of 73 cents per share on revenue of $385.1 million in 2010, on average.

So far this year, the company said it has seen strong demand for its ceramic solar crucibles from customers in China. It begins construction this month of a new, $34 million, 218,000-square-foot manufacturing facility in Tianjin, China, to primarily support its Asian solar customers.

Ceradyne also said it is seeing growing interest in its nuclear power plant products. It expects to continue to be less reliant on sales of its military lightweight ceramic body armor.

“Although we have accelerated our defense related technical and marketing efforts, additional body armor orders are uncertain,” said Joel P. Moskowitz, Ceradyne president and CEO. “However, we are also focusing our efforts on a wide product base, with particular emphasis on solar, nuclear as well as oil and gas opportunities.”

Shares fell 40 cents to close at $22.20.