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American Vanguard’s profit streak hits 16th quarter...

American Vanguard’s profit streak hits 16th quarter

Newport Beach-based American Vanguard Corp. posted record

quarterly earnings Wednesday, logging a 44% increase in sales and 53%

increase in income from a year ago.


These results give American Vanguard its 16th consecutive profitable quarter.

Net sales during the first quarter rose to $27.3 million from $19

million a year ago. Net income grew to $1.2 million, or 20 cents per

share, from $799,000, or 13 cents per share, during the first quarter


of 2002.

“We are extremely pleased with the company’s solid start in 2003

and are confident that we will meet our previously stated goals to

achieve double-digit sales and net income growth,” said Eric

Wintermute, president and chief executive.

The company develops and markets agricultural chemicals to keep

insects from damaging turf and crops. Shares of AVD rose 30 cents, or

1.75%, Friday to $17.40.


Ceradyne gets diesel truck contract, 2nd deal in a week

Ceradyne Inc., a Costa Mesa high-tech ceramics producer, announced

its second deal in a week Wednesday.

Ceradyne secured a deal with a top diesel truck manufacturer to

produce ceramic engine parts. The deal could be worth as much as $26

million during a four-year term. An initial order is worth $1.4

million, Ceradyne announced in a news release.

Sales of diesel parts to the truck customer in 2002 were


approximately $2.7 million.

On Monday, the company announced it had been selected by Lockheed

Martin Corp. to supply nosecones for an advanced version of the

Patriot missile system. That deal could be worth as much as $150 over

more than 10 years. The company received $7 million upfront.

Ceradyne shares fell 17 cents, or 1.11%, to $15.10 in Friday