On Feb. 28, ceramic specialist and body armor maker Ceradyne (NASDAQ:CRDN) released fiscal year 2005 earnings for the period ended Dec. 31, 2005.

  • Revenues rose 71% for the full year, and earnings per share rose 66%.
  • Gross margins improved by 3.6 percentage points, but net margin fell by 9 basis points.
  • Major increase in cash related to a recent follow-on share offering.

(Figures in thousands, except per-share data)
Income Statement Highlights

Avg. Est.

FY 2005

FY 2004

% Change

Sales

$360,630

$368,253

$215,612

70.8%

Net Profit

--

$46,778

$27,573

69.7%

EPS

$1.82

$1.86

$1.12

66.1%



Get back to basics with a look at the income statement.

Margin Checkup

FY 2005

FY 2004

% Change

Gross Margin

35.61%

32.05%

3.57%

Op. Margin

22.17%

20.11%

2.06%

Net Margin

12.70%

12.79%

(0.09%)



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2005

Q4 2004

% Change

Cash+ ST Invest.

$99,381

$14,562

582.5%

Other Cur Assets

$155,080

$120,085

29.1%



Liabilities

Q4 2005

Q4 2004

% Change

Long-Term Debt

$121,000

$108,625

11.4%

Current Liabilities

$40,739

$56,258

(27.6%)



Cash Flow Highlights

Data not provided. (Booo!)

Find out why Fools always follow the money.

Related Companies:

  • DHB Industries (AMEX:DHB)
  • Armor Holdings (NYSE:AH)
  • General Dynamics (NYSE:GD)
  • Lockheed Martin (NYSE:LMT)
  • Raytheon (NYSE:RTN)

Seth Jayson thought Ceradyne would have been a perfect fit atMotley Fool Hidden Gems ... back around $20 a share. The Hidden Gems team took a pass -- but then they're sort of overflowing with their own successes in similar, focused, well-run small caps. Afree trialwill let you take a look at their market-beating stable.

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication, Seth Jayson had shares of Ceradyne but no positions in any other firm mentioned. Fool rules are here.