Business

Ceradyne reverses year-ago loss

Ceradyne Inc., which manufactures body armor in Lexington, said Tuesday it earned $6.6 million in the second quarter, reversing a year-ago loss that came when the company took expensive one-time charges for closing a French factory.

The company had sales of $100.4 million in the quarter, up 5.35 percent from $95.3 million in the same period a year ago. Earnings per share were 26 cents in the most recent quarter, up from a loss of 44 cents a share, or $11.2 million overall, in the year-ago quarter.

The company had new orders of $87.6 million in the quarter, up from $79.5 million a year ago.

Chief executive Joel P. Moskowitz said in a statement that the earnings reflect the company's decision to create a wider range of products, "which is more than offsetting the decline in ... lightweight ceramic body armor inserts, which had been anticipated."

The company also increased its earnings guidance for the full year from a range of 65 cents to $1.05 a share to a range of 80 cents to $1.18. It also raised revenue guidance from a range of $380 million to $430 million to $400 million to $430 million.

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