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| CRDN > SEC Filings for CRDN > Form 8-K on 11-Jun-2009 | All Recent SEC Filings |
11-Jun-2009
Regulation FD Disclosure, Financial Statements and Exhibits
On June 9, 2009, Ceradyne, Inc. issued a press release announcing that it has acquired substantially all of the business and assets and all technology and intellectual property related to ballistic combat and non-combat helmets of Diaphorm Technologies, LLC, based in Salem, New Hampshire. The purchase price consists of $9.5 million in cash paid at closing, the assumption of approximately $300,000 of liabilities, plus contingent consideration not to exceed $10 million over the next 5 years based upon performance milestones and revenues achieved during that period from Diaphorm's existing products and new products developed using Diaphorm technology. Ceradyne used a portion of its existing cash for the payment made at closing.
On June 9, 2009, Ceradyne, Inc. also issued a press release announcing that it
has revised its earnings guidance for its fiscal year ending December 31, 2009
to approximately $0.70 per fully diluted share compared to the guidance range at
the lower end of $1.60 as provided on April 28, 2009. This revised guidance does
not include estimated pre-tax charges of between $11 to $13 million to close its
Bazet, France, manufacturing plant previously announced on May 19, 2009 or the
impact of the acquisition of the business and assets of Diaphorm Technologies,
LLC. The updated guidance reflects the impact of lower than anticipated armor
shipments and weak industrial ceramic demand caused by the continuing current
weak economic environment. Ceradyne estimates that its 2009 sales will be in the
range of $420 to $440 million compared to the prior guidance range of $465 to
$500 million also provided on April 28, 2009.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
(d) Exhibits.
Exhibit Number Description
99.1 Press release dated June 9, 2009 regarding the acquisition
of the business and assets of Diaphorm Technologies, LLC.
99.2 Press release dated June 9, 2009 regarding revised revenue
and earnings guidance.
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