Ceradyne Profit Falls to 1 Cent a Share

Ceradyne Inc., a Costa Mesa manufacturer of technical ceramics, reported net income of $44,000, or 1 cent a share, for the third quarter, down from the $508,000, or 6 cents a share, for the comparable period last year. Sales declined 11% to $6.3 million from $7.1 million. The results for the recent quarter include charges of $170,000 in costs related to starting up the company’s ceramics for semiconductor equipment, and legal fees associated with its recent protest of a government contract award.