Costa Mesa-based body armor maker Ceradyne Inc. posted a fourth-quarter loss and lowered its guidance for 2009.
Its stock was down less than 2% at the close of trading with a market value of $470 million.
The company’s specially designed ceramics are used for bulletproof vests by the military, as well as the solar and dental industries.
Fourth-quarter profits of $21.3 million were down 40% from a year earlier, in line with what analysts were expecting.
The result included a charge of $2.3 million caused by a reduction in value of investments, the company said.
Sales were $138.9 million, down 27% from a year ago, and below the $144.6 million analysts were looking for.
Ceradyne cut its outlook for 2009 on a delay in armor orders and uncertainty in Europe.
“Because the situation is unclear, we believe it is advisable to revise the 2009 guidance we provided in December,” said Chief Executive Joel P. Moskowitz.
The company expects to earn $42 million to $52 million in 2009, down from a December forecast of $60 million.
Revenue guidance was $465 million to $500 million, down from the company’s outlook of $600 million.
