Ceradyne’s stock soars 19% on Wednesday Ceradyne...

Ceradyne’s stock soars 19% on Wednesday

Ceradyne Inc., which produces ceramic body armor for the U.S.

military, logged record quarterly profit and revenue on Wednesday. As

a result, shares of the company’s stock soared 19%.

The war in Iraq drove strong sales of the Costa Mesa company’s

lightweight personnel armor, Ceradyne said.

Sales for the first quarter of 2003 increased 31% to a record

$19.2 million from the $14.7 million in revenue from the same period

a year ago. Net income, or bottom-line results, sailed in at $1.5

million, a 161% increase from the $579,000 net income in the first

quarter of 2002.

The company also raised expectations for the year, saying it would

see 2003 sales come in higher than expected.

“Due to a convergence of significantly higher flows of new orders

... record backlog and particularly improving margins, management

feels there is growing potential for 2003 sales and earnings to

surpass expectations.”

Shares of CRDN closed at $11.69 in heavy trading Wednesday.

River conservancy bill continues

A bill that would establish a wild lands conservancy for the Santa

Ana River passed an Assembly committee on Tuesday.

Assemblyman Lou Correa (D-Santa Ana) proposed Assembly Bill 496,

which would put in place an agency that could preserve land for open

space or apply for grant funding.

The bill passed the Natural Resources Committee on a 9-3 vote. It

next heads to the Assembly’s appropriations committee. No date has

been set for that hearing.

With a watershed that covers more than 2,700 miles, the river

stretches 96 miles from the Pacific Ocean to Big Bear Lake.

The bill sparked some controversy after the Orange County Board of

Supervisors opposed it. Assemblyman Ken Maddox, who represents Costa

Mesa, supports it; Assemblyman John Campbell opposes it.

“We’ve got one-sixth of the entire state population living within

the Santa Ana River watershed,” Correa said. “These residents deserve

access to parks and nature, just like everybody else.”

New children’s store opens in Costa Mesa

A Newport Beach woman has opened a children’s bookstore in Costa

Mesa.

Christy Coyne opened the doors of the First Page on the Eastside

on Saturday. The new store is at 270 E. 17th St., No. 10.

The store is marked by an open floor plan and books that all face

out on the shelves so children and parents can more easily see the

books as they shop.

Coyne, a former education law attorney, has two children.

The Saturday opening featured face-painting and storytelling by

Steve C., a former Radio Disney radio host.