Ceradyne Receives $16.4 Million ESAPI Order(Costa Mesa, Calif., August 27, 2009) -- Ceradyne, Inc. (NASDAQ: CRDN) received a $16.4 million ESAPI (Enhanced Small Arms Protective Inserts) order which is expected to be shipped late in the fourth quarter of 2009. This order is a delivery order issued by the Defense Supply Center Philadelphia against a larger ID/IQ (Indefinite Delivery/Indefinite Quantity) three-year contract issued in December 2007. Ceradyne's practice is to only book firm delivery orders such as the above $16.4 million as backlog for scheduled delivery.
David P. Reed, Ceradyne President North American Operations, commented: "We are very pleased to have received this order and believe we will continue to ship this ESAPI product on time with the high standards of quality required. Based on non-binding conversations with the government, we believe that there will be an additional delivery order against the blanket ID/IQ contract this year."
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Source : Ceradyne, Inc. (NASDAQ:CRDN)