On Nov. 1, Ceradyne (NASDAQ:CRDN) released third-quarter earnings for the period ended Sept. 30, 2006.

  • The maker of ceramic products for the defense and auto industries once again reported strong sales and profit growth.
  • Continuing strength and increased volume in ESAPI body armor and ESBI side plates helped pace 97% sales growth.
  • The company has more cash and cash equivalents to meet the objectives of acquisitions and expansion of its commercial and military businesses.
  • Our Motley Fool CAPS community loves this stock; 71 all-stars say outperform, zero say underperform, and that equals a five-star rating.

(Figures in millions, except per-share data)

Income Statement Highlights

Q3 2006

Q3 2005

Change

Sales

$186

$94

96.8%

Net Profit

$37

$13

176.8%

EPS

$1.34

$0.53

152.8%

Diluted Shares

27

25

9.4%



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

Margin Checkup

Q3 2006

Q3 2005

Change*

Gross Margin

37.96%

36.89%

1.07

Operating Margin

28.84%

23.66%

5.18

Net Margin

19.87%

14.13%

5.74

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q3 2006

Q3 2005

Change

Cash + ST Invest.

$176

$12

1370.2%



Liabilities

Q3 2006

Q3 2005

Change

Long-Term Debt

$121

$108

12.2%

Learn the ways of the balance sheet.

Cash Flow Highlights
The company did not release a cash flow statement with earnings, making investors' jobs much harder.

Find out why Fools always follow the money.

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