Ceradyne Inc. plans to make acquisitions. The firm reported financial results for the fourth quarter and twelve months ended December 31, 2009. Sales for the fourth quarter 2009 were $97.6 million, compared with $138.9 million in fourth quarter 2008. Net income for the three months ended December 31, 2009, was $14.1 million, or $0.55 per fully diluted share compared with net income in the prior year period of $20.7 million, or $0.79 per fully diluted share. Net income for the three months ended December 31, 2009 was favorably impacted by a tax benefit of $7.5 million due to a reversal of liabilities for uncertain tax positions as well as the tax benefits from the expenses and losses due to the closure of the Companys Bazet, France, manufacturing facility. Joel P. Moskowitz, Ceradynes President and Chief Executive Officer, commented, Our strong year-end balance sheet with cash and cash equivalents, and short-term investments of approximately $240 million will allow us to finance our growth or possible acquisitions from internally generated funds.

Ceradyne Inc. reported consolidated unaudited earnings results for the fourth quarter and twelve months ended December 31, 2009. For the quarter, the company reported sales were $97.6 million, compared with $138.9 million in fourth quarter 2008. Net income was $14.1 million or $0.55 per fully diluted share compared with net income in the prior year period of $20.7 million, or $0.79 per fully diluted share. Net income was favorably impacted by a tax benefit of $7.5 million due to a reversal of liabilities for uncertain tax positions as well as the tax benefits from the expenses and losses due to the closure of the company's Bazet, France, manufacturing facility. Income from operations was $8,553,000 and income before provision for income taxes was $6,578,000 as compared to income from operations was $32,768,000 and income before provision for income taxes was $29,547,000 for the same period last year. Non-GAAP net income was $11,443,000 or $0.45 diluted per share as compared to non-GAAP net income was $20,669,000 or $0.79 diluted per share for the same period last year. For the full year, the company reported sales were $400.6 million compared with $680.2 million in the same period last year. Net income was $8.5 million, or $0.33 per fully diluted share compared with net income in the prior year of $104.5 million, or $3.91 per fully diluted share. Net income was favorably impacted by a tax benefit of $8.1 million due to a reversal of liabilities for uncertain tax positions as well as the tax benefits from the expenses and losses due to the closure of its Bazet, France and manufacturing facility. Income from operations was $7,730,000 and income before provision for income taxes was $417,000 as compared to income from operations was $165,586,000 and income before provision for income taxes was $160,904,000 for the same period last year. Net cash provided by operating was $67,773,000, purchases of property, plant and equipment was $14,534,000 and purchases of marketable securities was $179,194,000 as compared to net cash provided by operating was $155,970,000, purchases of property, plant and equipment was $44,047,000 for the same period last year. Non-GAAP net income was $18,848,000 or $0.73 diluted per share as compared to non-GAAP net income was $104,480,000 or $3.91 diluted per share for the same period last year. The company is reiterating its guidance for the full fiscal year 2010 initially given on October 27, 2009 and reiterated on January 11, 2010 of $0.60 per fully diluted share to approximately $1.05 per fully diluted share and sales from $380.0 to $430.0 million.

Ceradyne Inc. announced that they will report Q4, 2009 results on 02/23/2010