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ISIN: US6518241046 · WKN: 867495
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Profile:
Newport Corporation is a global supplier of high-precision test, measurement and automation systems and subsystems that enable manufacturers of fiber optic components, semiconductor capital equipment, industrial metrology, aerospace and other high-precision products to automate their manufacturing processes, enhance product performance, and improve manufacturing efficiencies and yields. The Company`s high precision products enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Profile:
Newport Corporation is a global supplier of high-precision test, measurement and automation systems and subsystems that enable manufacturers of fiber optic components, semiconductor capital equipment, industrial metrology, aerospace and other high-precision products to automate their manufacturing processes, enhance product performance, and improve manufacturing efficiencies and yields. The Company`s high precision products enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications.
http://www.newport.com/
Newport Corporation to Review Record 2000 Results, Plans for Continued Growth at Roth Capital Conference
- Company Expects Increased Sales, Earnings From Growing Primary Markets and Key Acquisitions -
IRVINE, Calif., Feb. 20 /PRNewswire/ -- Newport Corporation (Nasdaq: NEWP - news) today said it will review its results for 2000 and plans for growth in 2001 at Roth Capital Partners` 13th Annual Growth Stock Conference, focusing on its plans to generate more than $420 million in sales with increased profitability and orders as the leading single-source supplier of test, measurement and automation to the rapidly growing fiber optic communications and semiconductor equipment industries.
During the conference, Robert G. Deuster, president and chief executive officer, will also discuss Newport`s achievements in 2000, pointing to the company`s 254 percent net income increase as a provider of value added solutions in high-growth markets where sub-micron precision in manufacturing, test and assembly is critical.
``Our primary markets are in the fiber optic communications and semiconductor equipment industries,`` Deuster said. ``As part of our presentation, we will review our positioning within these market segments and how we stand to benefit from the increasing demand for advanced manufacturing technology from fiber optic communications and semiconductor equipment manufacturers.``
Charles F. Cargile, vice president and chief financial officer, will discuss Newport`s record order rates which increased 146 percent to $379.9 million in 2000. Cargile also will review Newport`s plans to further improve operating results in 2001, anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent. In addition, Cargile will provide guidance on Newport`s financial goals over the next three to five years, noting that the company plans to achieve annual sales of between $800 million to $1 billion and operating margins of between 20 and 25 percent.
Rounding out the company`s presentation, Deuster will discuss the importance of Newport`s recent acquisitions and how the acquired technology will impact the company`s future performance, both financially and operationally.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, scientific research and industrial metrology markets.
The statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 1999, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: Newport Corporation
Newport Corporation to Review Record 2000 Results, Plans for Continued Growth at Roth Capital Conference
- Company Expects Increased Sales, Earnings From Growing Primary Markets and Key Acquisitions -
IRVINE, Calif., Feb. 20 /PRNewswire/ -- Newport Corporation (Nasdaq: NEWP - news) today said it will review its results for 2000 and plans for growth in 2001 at Roth Capital Partners` 13th Annual Growth Stock Conference, focusing on its plans to generate more than $420 million in sales with increased profitability and orders as the leading single-source supplier of test, measurement and automation to the rapidly growing fiber optic communications and semiconductor equipment industries.
During the conference, Robert G. Deuster, president and chief executive officer, will also discuss Newport`s achievements in 2000, pointing to the company`s 254 percent net income increase as a provider of value added solutions in high-growth markets where sub-micron precision in manufacturing, test and assembly is critical.
``Our primary markets are in the fiber optic communications and semiconductor equipment industries,`` Deuster said. ``As part of our presentation, we will review our positioning within these market segments and how we stand to benefit from the increasing demand for advanced manufacturing technology from fiber optic communications and semiconductor equipment manufacturers.``
Charles F. Cargile, vice president and chief financial officer, will discuss Newport`s record order rates which increased 146 percent to $379.9 million in 2000. Cargile also will review Newport`s plans to further improve operating results in 2001, anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent. In addition, Cargile will provide guidance on Newport`s financial goals over the next three to five years, noting that the company plans to achieve annual sales of between $800 million to $1 billion and operating margins of between 20 and 25 percent.
Rounding out the company`s presentation, Deuster will discuss the importance of Newport`s recent acquisitions and how the acquired technology will impact the company`s future performance, both financially and operationally.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, scientific research and industrial metrology markets.
The statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 1999, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: Newport Corporation
Newport Corp sees 66 pct growth in sales in 2001
IRVINE, California, Feb 20 (Reuters) - Newport Corp (NasdaqNM:NEWP - news), whose products are used for assembling and testing fiber optic semiconductors, said on Tuesday it is targeting a 66 percent jump in sales in 2001 to $420 million, citing improved margins.
The Irvine, California-based company cited ``rapidly growing fiber optic communications and semiconductor equipment industries`` in its statement.
Newport said its executives plan to address financial goals and projections at a stocks conference Wednesday in Laguna Niguel, California.
Specifically, Newport is anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent for 2001, the company said.
Over the next three to five years, the company said it plans to book annual sales of between $800 million to $1 billion, with operating margins of between 20 and 25 percent.
Newport shares finished off $9-11/16 at $53-3/4 on the Nasdaq on Tuesday. The stock has a 52-week high of $192-1/16 and a 52-week low of $22-5/16.
Greg Cresci, New York Newsroom (212) 859-1700
IRVINE, California, Feb 20 (Reuters) - Newport Corp (NasdaqNM:NEWP - news), whose products are used for assembling and testing fiber optic semiconductors, said on Tuesday it is targeting a 66 percent jump in sales in 2001 to $420 million, citing improved margins.
The Irvine, California-based company cited ``rapidly growing fiber optic communications and semiconductor equipment industries`` in its statement.
Newport said its executives plan to address financial goals and projections at a stocks conference Wednesday in Laguna Niguel, California.
Specifically, Newport is anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent for 2001, the company said.
Over the next three to five years, the company said it plans to book annual sales of between $800 million to $1 billion, with operating margins of between 20 and 25 percent.
Newport shares finished off $9-11/16 at $53-3/4 on the Nasdaq on Tuesday. The stock has a 52-week high of $192-1/16 and a 52-week low of $22-5/16.
Greg Cresci, New York Newsroom (212) 859-1700
Newport Corp. Added to S&P MidCap 400 Index
IRVINE, Calif.--(BUSINESS WIRE)--March 1, 2001--Newport Corp. (Nasdaq:NEWP - news) announced that it was added to Standard & Poor`s MidCap 400 Index effective March 1, 2001 as part of the Index`s Electronic Equipment and Instruments sub-industry and the Electronics (Instrumentation) industry groups.
Companies added to the S&P MidCap 400 are selected based on market size, liquidity and industry group representation. The market capitalization of the S&P MidCap 400 ranges from $1 billion to $5 billion. Newport`s market capitalization today equals $1.71 billion.
Robert G. Deuster, Newport`s chairman and chief executive officer, said: ``We are delighted to have been added to the S&P MidCap 400 Index. Our selection is indicative of the explosive growth our company has experienced over the last year and is a reflection of our status as a leading global supplier of high-precision test, measurement and automation systems and subsystems to the fiber optic communications, semiconductor and computer peripherals markets.``
Newport is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide
IRVINE, Calif.--(BUSINESS WIRE)--March 1, 2001--Newport Corp. (Nasdaq:NEWP - news) announced that it was added to Standard & Poor`s MidCap 400 Index effective March 1, 2001 as part of the Index`s Electronic Equipment and Instruments sub-industry and the Electronics (Instrumentation) industry groups.
Companies added to the S&P MidCap 400 are selected based on market size, liquidity and industry group representation. The market capitalization of the S&P MidCap 400 ranges from $1 billion to $5 billion. Newport`s market capitalization today equals $1.71 billion.
Robert G. Deuster, Newport`s chairman and chief executive officer, said: ``We are delighted to have been added to the S&P MidCap 400 Index. Our selection is indicative of the explosive growth our company has experienced over the last year and is a reflection of our status as a leading global supplier of high-precision test, measurement and automation systems and subsystems to the fiber optic communications, semiconductor and computer peripherals markets.``
Newport is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide
Trading Spotlight
Eine Seltenheit in der auf Hochtouren laufenden Warnungssaison der amerikanischen Technologiewerte: Newport revidiert die Prognosen – aber nach oben.
Der Hersteller von Geräten für Montage und Test von fiberoptischen Bauteilen und Halbleitern will 2001 2 bis 5 Cent mehr Gewinn je Aktie machen. Der Grund liegt in der jüngst abgeschlossenen Akquisition von Kensington Laboratories. Der Gewinnbeitrag soll mit 17 bis 20 Cent höher ausfallen als ursprünglich gedacht. Der Umsatzbeitrag kommt auf 50 Mio.$.
Der als Pooling of Interest gebuchte Merger lässt auch die Newport-Umsätze für das letzte Jahr steigen, und zwar von 252,9 Mio.$ auf 284,0 Mio.$. Kensington steuert 15 Cent je Aktie Gewinn bei, sodass jetzt 1,01$ je Anteilsschein für 2000 erwirtschaftet wurden. Kensington hält über 20 Patente im Bereich Handhabung und Bewegungssteuerung.
Der Hersteller von Geräten für Montage und Test von fiberoptischen Bauteilen und Halbleitern will 2001 2 bis 5 Cent mehr Gewinn je Aktie machen. Der Grund liegt in der jüngst abgeschlossenen Akquisition von Kensington Laboratories. Der Gewinnbeitrag soll mit 17 bis 20 Cent höher ausfallen als ursprünglich gedacht. Der Umsatzbeitrag kommt auf 50 Mio.$.
Der als Pooling of Interest gebuchte Merger lässt auch die Newport-Umsätze für das letzte Jahr steigen, und zwar von 252,9 Mio.$ auf 284,0 Mio.$. Kensington steuert 15 Cent je Aktie Gewinn bei, sodass jetzt 1,01$ je Anteilsschein für 2000 erwirtschaftet wurden. Kensington hält über 20 Patente im Bereich Handhabung und Bewegungssteuerung.
Newport Corp. Announces Kensington Contribution to 2000 Results -- Reports Higher Than Anticipated EPS Accretion
Updates 2001 Forecast
IRVINE, Calif.--(BUSINESS WIRE)--March 6, 2001--Newport Corp. (Nasdaq:NEWP - news) today presented financial results for its 2000 year, revised to incorporate the audited 2000 results of Kensington Laboratories Inc., which merged with Newport on Feb. 2, 2001, in a transaction that has been accounted for as a pooling of interests.
Newport previously announced its results for 2000 on Jan. 24, 2001, prior to the close of the Kensington transaction, and accordingly such reported results did not include Kensington`s results.
For the year ended Dec. 31, 2000, Kensington contributed revenues of $31.1 million, bringing Newport`s total revenues for the year to $284.0 million, up from the $252.9 million previously reported for Newport alone. Newport`s revised net income rose by $8.5 million, or $0.15 per diluted share, to $36.3 million, or $1.01 per diluted share, versus the $0.86 reported for Newport alone prior to the revision. Prior to final audit of Kensington`s 2000 results, Newport had estimated the Kensington transaction would be accretive to earnings per diluted share by approximately $0.10 for the full year 2000.
More information regarding the effect of the Kensington merger on Newport`s 2000 Consolidated Income Statement will be available today on Newport`s Web page at www.newport.com.
The company also announced that it now expects Kensington to be accretive to Newport`s 2001 earnings by approximately $0.17 to $0.20 per diluted share. Previously, the company had estimated the accretion to 2001 earnings per diluted share to be approximately $0.15. Newport also reaffirmed its previously reported expectation of approximately $50 million in revenue for Kensington in 2001. Beginning with Newport`s 2001 first-quarter results, slated to be released on April 18, 2001, Kensington`s results will be fully incorporated and will not be reported separately.
``We are pleased to report better-than-expected revised results in conjunction with our merger with Kensington Laboratories,`` said Robert G. Deuster, Newport`s chairman, president and chief executive officer.
``Kensington`s results for the fourth quarter of 2000 were even better than we had anticipated during our due diligence. The final audit of Kensington`s 2000 financial statements produced far fewer adjustments to conform Kensington`s financial statements to GAAP reporting standards than we had originally anticipated, which increased its contribution to Newport`s earnings.
``More importantly, looking ahead, we believe that Kensington`s business will continue to be strong, despite the widely reported reductions in capital spending in the telecommunications and semiconductor capital equipment markets. Kensington`s OEM customers in the semiconductor equipment manufacturing market continue to invest in the next-generation products in which Kensington specializes, specifically those designed for narrower line widths and 300-millimeter applications.``
Robert Phillippy, vice president and general manager of Newport`s Industrial and Scientific Technologies Division (ISTD), added: ``We are moving quickly to integrate Kensington into Newport`s ISTD operations and to realize the full benefit of its expertise in high-precision robotics and motion control. We continue to see demand from our customers for higher degrees of automation for their testing and manufacturing processes.
``In addition to the benefits we expect to achieve as we integrate our businesses supporting semiconductor capital equipment customers, we also anticipate enhancing our efficiency and profitability related to the manufacture of fiber optic products.``
Kensington, which has headquarters in Richmond, Calif., holds more than 20 patents covering advanced robotics and motion control technology. The company`s technology has also been applied to fiber optic component assembly and automation through its use in Newport`s photonics packaging solutions over the last five years, and is used in semiconductor capital equipment for high-precision positioning and handling of semiconductor wafers.
Business Outlook
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
The company updated the outlook for the 2001 first quarter, including the full effect of the Kensington merger in current and prior years. Sales for the first quarter of 2001 are expected to be in the range of $95 million to $100 million. This represents an 80-90% increase over the prior-year first quarter and is approximately equal to or slightly above the record fourth quarter of 2000.
Gross margin as a percent of sales for the first quarter of 2001 is expected to be in the 44-45% range; and selling, general and administrative expenses for the first quarter of 2001 are expected to total 18-19% of sales. The company plans to continue to invest 8-9% of sales in research and development activities. The result is that operating income in the first quarter of 2001 is expected to more than double versus the $8.1 million reported in the first quarter of 2000, as the company continues to leverage the sales increases.
Diluted earnings per share in the first quarter of 2001, before non-recurring charges, are expected to increase approximately 230-240% compared with the $0.15 reported for the corresponding period of year 2000. Non-recurring charges, which are related primarily to the Kensington transaction, are expected to be approximately $12 million to $14 million during the first quarter.
Commenting on the first quarter, Deuster said: ``We are reconfirming our outlook for the first quarter of 2001. Although we recognize that many of our customers are cautious in their outlook, we believe we are positioned to achieve our targets. We entered 2001 with strong backlog, primarily in the key markets we serve: fiber optic communications and semiconductor capital equipment. The strength of our backlog and our ability to meet customer demands will drive our performance in the first quarter.``
Commenting on the full year, Deuster stated, ``As previously indicated in January, we continue to have clearer visibility for the first half of 2001 than for the second half. In addition, several of our large customers have taken a more cautious tone in recent weeks.
``We believe our leadership position in the key markets that we serve gives us the ability to achieve strong year-over-year increases in sales. We expect to see full-year revenues for 2001 in the $400 million to $425 million range and earnings per diluted share, before non-recurring charges, of $1.45 to $1.60, compared with our record performance in 2000 of $1.01 per diluted share.
``We recognize that considerable uncertainty in both the broader telecommunications and semiconductor capital equipment markets exists today. Nevertheless, the need for productivity, yield and cost reduction solutions in fiber optic component manufacturing remains intact, and we expect that our customers will invest in these solutions for the long term, not just for capacity reasons.
``Likewise, in the semiconductor capital equipment market, demand for products supporting narrower line widths and 300-millimeter applications remains robust. As a result, we believe that we will be able to achieve our revenue and earnings goals for 2001.``
About Newport Corp.
Newport is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, scientific research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
This news release contains forward-looking statements, including specifically statements made by Robert G. Deuster and Robert Phillippy and statements in the ``Business Outlook`` section that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 1999, and in subsequent filings with the Securities and Exchange Commission, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully integrate acquisitions with Newport`s other operations; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Updates 2001 Forecast
IRVINE, Calif.--(BUSINESS WIRE)--March 6, 2001--Newport Corp. (Nasdaq:NEWP - news) today presented financial results for its 2000 year, revised to incorporate the audited 2000 results of Kensington Laboratories Inc., which merged with Newport on Feb. 2, 2001, in a transaction that has been accounted for as a pooling of interests.
Newport previously announced its results for 2000 on Jan. 24, 2001, prior to the close of the Kensington transaction, and accordingly such reported results did not include Kensington`s results.
For the year ended Dec. 31, 2000, Kensington contributed revenues of $31.1 million, bringing Newport`s total revenues for the year to $284.0 million, up from the $252.9 million previously reported for Newport alone. Newport`s revised net income rose by $8.5 million, or $0.15 per diluted share, to $36.3 million, or $1.01 per diluted share, versus the $0.86 reported for Newport alone prior to the revision. Prior to final audit of Kensington`s 2000 results, Newport had estimated the Kensington transaction would be accretive to earnings per diluted share by approximately $0.10 for the full year 2000.
More information regarding the effect of the Kensington merger on Newport`s 2000 Consolidated Income Statement will be available today on Newport`s Web page at www.newport.com.
The company also announced that it now expects Kensington to be accretive to Newport`s 2001 earnings by approximately $0.17 to $0.20 per diluted share. Previously, the company had estimated the accretion to 2001 earnings per diluted share to be approximately $0.15. Newport also reaffirmed its previously reported expectation of approximately $50 million in revenue for Kensington in 2001. Beginning with Newport`s 2001 first-quarter results, slated to be released on April 18, 2001, Kensington`s results will be fully incorporated and will not be reported separately.
``We are pleased to report better-than-expected revised results in conjunction with our merger with Kensington Laboratories,`` said Robert G. Deuster, Newport`s chairman, president and chief executive officer.
``Kensington`s results for the fourth quarter of 2000 were even better than we had anticipated during our due diligence. The final audit of Kensington`s 2000 financial statements produced far fewer adjustments to conform Kensington`s financial statements to GAAP reporting standards than we had originally anticipated, which increased its contribution to Newport`s earnings.
``More importantly, looking ahead, we believe that Kensington`s business will continue to be strong, despite the widely reported reductions in capital spending in the telecommunications and semiconductor capital equipment markets. Kensington`s OEM customers in the semiconductor equipment manufacturing market continue to invest in the next-generation products in which Kensington specializes, specifically those designed for narrower line widths and 300-millimeter applications.``
Robert Phillippy, vice president and general manager of Newport`s Industrial and Scientific Technologies Division (ISTD), added: ``We are moving quickly to integrate Kensington into Newport`s ISTD operations and to realize the full benefit of its expertise in high-precision robotics and motion control. We continue to see demand from our customers for higher degrees of automation for their testing and manufacturing processes.
``In addition to the benefits we expect to achieve as we integrate our businesses supporting semiconductor capital equipment customers, we also anticipate enhancing our efficiency and profitability related to the manufacture of fiber optic products.``
Kensington, which has headquarters in Richmond, Calif., holds more than 20 patents covering advanced robotics and motion control technology. The company`s technology has also been applied to fiber optic component assembly and automation through its use in Newport`s photonics packaging solutions over the last five years, and is used in semiconductor capital equipment for high-precision positioning and handling of semiconductor wafers.
Business Outlook
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
The company updated the outlook for the 2001 first quarter, including the full effect of the Kensington merger in current and prior years. Sales for the first quarter of 2001 are expected to be in the range of $95 million to $100 million. This represents an 80-90% increase over the prior-year first quarter and is approximately equal to or slightly above the record fourth quarter of 2000.
Gross margin as a percent of sales for the first quarter of 2001 is expected to be in the 44-45% range; and selling, general and administrative expenses for the first quarter of 2001 are expected to total 18-19% of sales. The company plans to continue to invest 8-9% of sales in research and development activities. The result is that operating income in the first quarter of 2001 is expected to more than double versus the $8.1 million reported in the first quarter of 2000, as the company continues to leverage the sales increases.
Diluted earnings per share in the first quarter of 2001, before non-recurring charges, are expected to increase approximately 230-240% compared with the $0.15 reported for the corresponding period of year 2000. Non-recurring charges, which are related primarily to the Kensington transaction, are expected to be approximately $12 million to $14 million during the first quarter.
Commenting on the first quarter, Deuster said: ``We are reconfirming our outlook for the first quarter of 2001. Although we recognize that many of our customers are cautious in their outlook, we believe we are positioned to achieve our targets. We entered 2001 with strong backlog, primarily in the key markets we serve: fiber optic communications and semiconductor capital equipment. The strength of our backlog and our ability to meet customer demands will drive our performance in the first quarter.``
Commenting on the full year, Deuster stated, ``As previously indicated in January, we continue to have clearer visibility for the first half of 2001 than for the second half. In addition, several of our large customers have taken a more cautious tone in recent weeks.
``We believe our leadership position in the key markets that we serve gives us the ability to achieve strong year-over-year increases in sales. We expect to see full-year revenues for 2001 in the $400 million to $425 million range and earnings per diluted share, before non-recurring charges, of $1.45 to $1.60, compared with our record performance in 2000 of $1.01 per diluted share.
``We recognize that considerable uncertainty in both the broader telecommunications and semiconductor capital equipment markets exists today. Nevertheless, the need for productivity, yield and cost reduction solutions in fiber optic component manufacturing remains intact, and we expect that our customers will invest in these solutions for the long term, not just for capacity reasons.
``Likewise, in the semiconductor capital equipment market, demand for products supporting narrower line widths and 300-millimeter applications remains robust. As a result, we believe that we will be able to achieve our revenue and earnings goals for 2001.``
About Newport Corp.
Newport is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, scientific research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
This news release contains forward-looking statements, including specifically statements made by Robert G. Deuster and Robert Phillippy and statements in the ``Business Outlook`` section that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 1999, and in subsequent filings with the Securities and Exchange Commission, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully integrate acquisitions with Newport`s other operations; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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RESEARCH ALERT-Newport price target halved
NEW YORK, March 7 (Reuters) - UBS Warburg said analyst Byron Walker halved his price target on Newport Corp. (NasdaqNM:NEWP - news) on Wednesday.
In a report, he cut his price target on Newport, whose products are used to assemble and test fiber optic parts and computer chips, to $60 from $120.
He cut his outlook for fiscal 2001 profits per share to $1.46 from $1.55. Newport hiked its outlook for 2001 earnings per share on Tuesday.
Walker said the shares` hold rating remained ``until more stability achieved in NEWP`s served end markets.`` The stock was up $5-3/8 at $44-3/4.
Diese Analysten
NEW YORK, March 7 (Reuters) - UBS Warburg said analyst Byron Walker halved his price target on Newport Corp. (NasdaqNM:NEWP - news) on Wednesday.
In a report, he cut his price target on Newport, whose products are used to assemble and test fiber optic parts and computer chips, to $60 from $120.
He cut his outlook for fiscal 2001 profits per share to $1.46 from $1.55. Newport hiked its outlook for 2001 earnings per share on Tuesday.
Walker said the shares` hold rating remained ``until more stability achieved in NEWP`s served end markets.`` The stock was up $5-3/8 at $44-3/4.
Diese Analysten
Newport Corp. to Feature New Products, Technology at OFC 2001
IRVINE, Calif.--(BUSINESS WIRE)--March 15, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that the company`s next-generation technology for fiber optic component manufacturing, including the power of the Newport Factor(TM), will be featured at this year`s Optical Fiber Communications Conference (OFC) 2001, March 19-21, 2001, at the Anaheim Convention Center in Anaheim, Calif.
Robert G. Deuster, chairman and chief executive officer of Newport, said: ``Newport has made significant progress in bringing greater automation to the fiber optic component manufacturing process. At the OFC show, our customers will find more of the cost-effective solutions they increasingly require to accelerate time to market, raise performance, increase throughput and enable them to respond quickly to changing market needs.
``In the past year, through our own research and development investments as well as through important acquisitions, we have significantly expanded our core competencies.
``OFC 2001 is an opportunity for Newport to feature our enhanced leadership within the fiber optic communications and photonics marketplace. We will be demonstrating a number of advances in integrated, automated handling and manufacturing solutions that we believe reinforce our leadership position in the field.``
Deuster added: ``Our customers are seeking lower costs and higher productivity, performance and quality. The key to their achievement of these goals is increased automation. With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant. We have quantified the degree to which clients can determine the benefits of Newport`s products through use of the Newport Factor(TM).``
Dan A. Petrescu, vice president and general manager of Newport`s Fiber Optics and Photonics Division, said: ``The Newport Factor measures the quantifiable improvement our customers can achieve by applying Newport`s unmatched combination of equipment, application knowledge base, package design, process engineering and global support services. The benefits come from higher yields, increased throughput, reduced floor space and faster time to market, resulting in a clear competitive advantage for our customers.
``Newport has proved to be a vital partner to many companies in the fiber optics industry. The investments we have made in research and development, along with key acquisitions, have further strengthened our lead and positioning in the field. We believe our next-generation products and technology will translate into even better solutions for our customers as we move forward to meet their evolving manufacturing requirements in the years ahead.``
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
The statements in this news release, including the statements made by Robert G. Deuster and Dan A. Petrescu, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 1999, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully introduce its Newport Factor(TM) and other products and technologies to the fiber optics communications marketplace; the success of Newport`s fiber optics business strategy overall; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and photonics market; whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
IRVINE, Calif.--(BUSINESS WIRE)--March 15, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that the company`s next-generation technology for fiber optic component manufacturing, including the power of the Newport Factor(TM), will be featured at this year`s Optical Fiber Communications Conference (OFC) 2001, March 19-21, 2001, at the Anaheim Convention Center in Anaheim, Calif.
Robert G. Deuster, chairman and chief executive officer of Newport, said: ``Newport has made significant progress in bringing greater automation to the fiber optic component manufacturing process. At the OFC show, our customers will find more of the cost-effective solutions they increasingly require to accelerate time to market, raise performance, increase throughput and enable them to respond quickly to changing market needs.
``In the past year, through our own research and development investments as well as through important acquisitions, we have significantly expanded our core competencies.
``OFC 2001 is an opportunity for Newport to feature our enhanced leadership within the fiber optic communications and photonics marketplace. We will be demonstrating a number of advances in integrated, automated handling and manufacturing solutions that we believe reinforce our leadership position in the field.``
Deuster added: ``Our customers are seeking lower costs and higher productivity, performance and quality. The key to their achievement of these goals is increased automation. With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant. We have quantified the degree to which clients can determine the benefits of Newport`s products through use of the Newport Factor(TM).``
Dan A. Petrescu, vice president and general manager of Newport`s Fiber Optics and Photonics Division, said: ``The Newport Factor measures the quantifiable improvement our customers can achieve by applying Newport`s unmatched combination of equipment, application knowledge base, package design, process engineering and global support services. The benefits come from higher yields, increased throughput, reduced floor space and faster time to market, resulting in a clear competitive advantage for our customers.
``Newport has proved to be a vital partner to many companies in the fiber optics industry. The investments we have made in research and development, along with key acquisitions, have further strengthened our lead and positioning in the field. We believe our next-generation products and technology will translate into even better solutions for our customers as we move forward to meet their evolving manufacturing requirements in the years ahead.``
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
The statements in this news release, including the statements made by Robert G. Deuster and Dan A. Petrescu, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 1999, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully introduce its Newport Factor(TM) and other products and technologies to the fiber optics communications marketplace; the success of Newport`s fiber optics business strategy overall; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and photonics market; whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Hallo panik,
scheinbar haben wir zumindest im Bereich der Infrastruktur ähnliche Unternehmen im Portfolio bzw. auf der Watchlist.
Zweiteres trifft bei mir auf Newport zu. Newport ist in einem relativ engen Abwärtstrend, und konnte nach den starken Kursverlusten bislang keinen klaren Boden bilden.
Die Übernahme von Kensington hat zu einer kurzfristigen Aufwärtsbewegung geführt, welche aber sehr schnell verpufft ist.
Wenn Du an einem Engagement bei Newport interessiert bis, würde ich auf Kurse zwischen 26 - 28 $ warten.
Grundsätzlich gilt das Gleiche wie bei EXFO: Gute Position in einem sicheren Zukunftsmarkt, der noch wenig Beachtung findet.
Es wird (meiner Meinung nach) einige wenige Unternehmen geben, die in dieser Nische den Markt bestimmen werden. EXFO und NEWP gehören mit großer Wahrscheinlickeit dazu.
Da NEWP sehr weit vom ATH entfernt ist, und auf dem langen Weg nach unten viele Anleger enttäuscht haben wird (Börse besteht zu 90% aus Emotionen und 10% aus Fakten) sehe ich EXFO als den deutlich interessanteren Wert. Eine ähnliche Performance wie bei EXFO erwarte ich für NEWP nicht. Eine durchschlagende Trendwende erwarte ich erst, wenn die Aquisitionen endgülig abgeschlossen sind, und diese dann auch zu buche schlagen. Bis dahin ist NEWP eine reine Trading - Position und deshalb nicht das, wasman im Moment im Depot haben sollte. Danach rechne ich im Laufe der zweiten Jahreshälfte im Einklang mit der von allen erhofften Erholung der Nasdaq bis zum Jahresende auf Kurse zwischen 70 - 75$, was ja immer noch eine Performance von ca. 100% (Stand heute) entspräche.
Da Du Dich ja offensichtlich nicht für "Mainstreamaktien" interessierst, was hälst Du von
SCMR
ONIS
DIGL (my favorite!)
LMNE
Gruß,
Lexter
scheinbar haben wir zumindest im Bereich der Infrastruktur ähnliche Unternehmen im Portfolio bzw. auf der Watchlist.
Zweiteres trifft bei mir auf Newport zu. Newport ist in einem relativ engen Abwärtstrend, und konnte nach den starken Kursverlusten bislang keinen klaren Boden bilden.
Die Übernahme von Kensington hat zu einer kurzfristigen Aufwärtsbewegung geführt, welche aber sehr schnell verpufft ist.
Wenn Du an einem Engagement bei Newport interessiert bis, würde ich auf Kurse zwischen 26 - 28 $ warten.
Grundsätzlich gilt das Gleiche wie bei EXFO: Gute Position in einem sicheren Zukunftsmarkt, der noch wenig Beachtung findet.
Es wird (meiner Meinung nach) einige wenige Unternehmen geben, die in dieser Nische den Markt bestimmen werden. EXFO und NEWP gehören mit großer Wahrscheinlickeit dazu.
Da NEWP sehr weit vom ATH entfernt ist, und auf dem langen Weg nach unten viele Anleger enttäuscht haben wird (Börse besteht zu 90% aus Emotionen und 10% aus Fakten) sehe ich EXFO als den deutlich interessanteren Wert. Eine ähnliche Performance wie bei EXFO erwarte ich für NEWP nicht. Eine durchschlagende Trendwende erwarte ich erst, wenn die Aquisitionen endgülig abgeschlossen sind, und diese dann auch zu buche schlagen. Bis dahin ist NEWP eine reine Trading - Position und deshalb nicht das, wasman im Moment im Depot haben sollte. Danach rechne ich im Laufe der zweiten Jahreshälfte im Einklang mit der von allen erhofften Erholung der Nasdaq bis zum Jahresende auf Kurse zwischen 70 - 75$, was ja immer noch eine Performance von ca. 100% (Stand heute) entspräche.
Da Du Dich ja offensichtlich nicht für "Mainstreamaktien" interessierst, was hälst Du von
SCMR
ONIS
DIGL (my favorite!)
LMNE
Gruß,
Lexter
Hi Lexter
Ich finde auch Exfo im Moment besser als Newport,auch charttechnich.
Von deinen Favoriten ist einer auch dabei denn ich als Favorit sehe: ONIS(Super Wert)!
Digl auch nicht schlecht
Ich finde Im Moment EXFO,ONIS,NUFO und SONS sehr gut!
Kennst du Sons?
Und Stor ist sehr intressant!
Gruß panik
Ich finde auch Exfo im Moment besser als Newport,auch charttechnich.
Von deinen Favoriten ist einer auch dabei denn ich als Favorit sehe: ONIS(Super Wert)!
Digl auch nicht schlecht
Ich finde Im Moment EXFO,ONIS,NUFO und SONS sehr gut!
Kennst du Sons?
Und Stor ist sehr intressant!
Gruß panik
Hey panik,
wenn ich mir Deine Favoriten rein vom Chart her betrachte, dann bschleicht mich das Gefühl, dass Du Dir alle Nasdaq - Titel, die in irgend einer Form mit optischen Netzen zu tun haben rausgepickt hast, und jetzt die beobachtest, die den höchsten Abschlag vom ATH haben.
Hast Du außer dieser sher simplen Auswahl noch andere Gründe, warum Du Dich für die einzelnen Titel interessierst?
Gruß,
Lexter
wenn ich mir Deine Favoriten rein vom Chart her betrachte, dann bschleicht mich das Gefühl, dass Du Dir alle Nasdaq - Titel, die in irgend einer Form mit optischen Netzen zu tun haben rausgepickt hast, und jetzt die beobachtest, die den höchsten Abschlag vom ATH haben.
Hast Du außer dieser sher simplen Auswahl noch andere Gründe, warum Du Dich für die einzelnen Titel interessierst?
Gruß,
Lexter
Nein Lexter!
Das ist falsch,ich dencke du kannst jeden Wert vergleichen das alle mittlerweiler von Ah sehr entfernt sind!
Die Gründe sind gute Marktstellung ,Zahlen,Zukunft!
Nicht wer von oben am meisten fällt,der ist gut
Newport Corp. (NEWP)
Price: $35.31
Strong Buy
F01E: $1.54
F02E: $2.07
Joe Noel, Telecommunications
“We view the recent price sell off of NEWP shares as an excellent buying opportunity. This stock sold off yesterday on very heavy volume due to a misinterpretation of some comments that were made by one of the analysts that follows this stock. The rumors centered on order cancellations from Corning Inc. (GLW:NYSE). Later in the day, management issued statements that the company was not seeing order cancellations and that issues relating to the Corning plant delay have already been included in management’s guidance. Management took the opportunity to reiterate guidance for the March 2001 quarter and for the year ending 2001, which was originally indicated on March 6, 2001. At these levels we believe that NEWP is undervalued when its growth rate is considered. At the low end of guidance for the full year, these shares are trading at only 3X this year’s sales and 22X this year’s earnings. Considering the low end of the revenue range calls for growth of 59%, we consider these shares to be cheap. Even at a lower growth rate, the stock would still look attractive. We believe that NEWP is one of the strongest stories in the communications space. We believe that investors should take a close look at this story and buy shares of this company on the recent weakness and we are reiterating our Strong Buy rating.”
Langsam wird Newp intressant!
Aktuell bei 29$!
Gruß panik
Das ist falsch,ich dencke du kannst jeden Wert vergleichen das alle mittlerweiler von Ah sehr entfernt sind!
Die Gründe sind gute Marktstellung ,Zahlen,Zukunft!
Nicht wer von oben am meisten fällt,der ist gut
Newport Corp. (NEWP)
Price: $35.31
Strong Buy
F01E: $1.54
F02E: $2.07
Joe Noel, Telecommunications
“We view the recent price sell off of NEWP shares as an excellent buying opportunity. This stock sold off yesterday on very heavy volume due to a misinterpretation of some comments that were made by one of the analysts that follows this stock. The rumors centered on order cancellations from Corning Inc. (GLW:NYSE). Later in the day, management issued statements that the company was not seeing order cancellations and that issues relating to the Corning plant delay have already been included in management’s guidance. Management took the opportunity to reiterate guidance for the March 2001 quarter and for the year ending 2001, which was originally indicated on March 6, 2001. At these levels we believe that NEWP is undervalued when its growth rate is considered. At the low end of guidance for the full year, these shares are trading at only 3X this year’s sales and 22X this year’s earnings. Considering the low end of the revenue range calls for growth of 59%, we consider these shares to be cheap. Even at a lower growth rate, the stock would still look attractive. We believe that NEWP is one of the strongest stories in the communications space. We believe that investors should take a close look at this story and buy shares of this company on the recent weakness and we are reiterating our Strong Buy rating.”
Langsam wird Newp intressant!
Aktuell bei 29$!
Gruß panik
Newport Corp. (NEWP)
Price: $23.01
Strong Buy
F01E: $1.45
F02E: $1.88
Joe Noel, Telecommunications
“Yesterday, we lowered our estimates on Newport Corporation to allow for the more conservative guidance that we expect from the management team. We are seeing that business in Q1 was good, but we are also seeing that a few orders have been pushed out. At this time it appears that such push outs are minor. It is our belief that management is likely to lower the revenue target for year-end 2001 from the range of $400 million to $425 million to the range of $370 to $400 million. However, we believe that the Company’s previously endorsed EPS estimate ($1.45-$1.60) will be modified only slightly, due to management’s flexibility in controlling costs. We believe that management will indicate that EPS for 2001 will be at the lower end of their range. While we are being conservative, we believe NEWP has an excellent chance of beating these estimates. For the full year of 2001, our estimates have changed from $438.0 million in revenue and $1.54 EPS to $390.6 million in revenue and $1.45 EPS. For the full year of 2002, our estimates have changed from $613.2 million in revenue and $2.07 EPS to $546.9 million in revenue and $1.88 EPS. At current levels, we believe that NEWP is undervalued when its growth rate is considered. Even with our revised estimates these shares are trading at only 2X this year’s sales, and 17X this year’s earnings and 13X nest year’s earnings. Since our revised estimates call for top line growth of more than 50%, we consider these shares to be cheap. We believe that NEWP is one of the strongest stories in the communications space. We believe that investors should take a close look at this story and buy shares on the recent weakness.”
Price: $23.01
Strong Buy
F01E: $1.45
F02E: $1.88
Joe Noel, Telecommunications
“Yesterday, we lowered our estimates on Newport Corporation to allow for the more conservative guidance that we expect from the management team. We are seeing that business in Q1 was good, but we are also seeing that a few orders have been pushed out. At this time it appears that such push outs are minor. It is our belief that management is likely to lower the revenue target for year-end 2001 from the range of $400 million to $425 million to the range of $370 to $400 million. However, we believe that the Company’s previously endorsed EPS estimate ($1.45-$1.60) will be modified only slightly, due to management’s flexibility in controlling costs. We believe that management will indicate that EPS for 2001 will be at the lower end of their range. While we are being conservative, we believe NEWP has an excellent chance of beating these estimates. For the full year of 2001, our estimates have changed from $438.0 million in revenue and $1.54 EPS to $390.6 million in revenue and $1.45 EPS. For the full year of 2002, our estimates have changed from $613.2 million in revenue and $2.07 EPS to $546.9 million in revenue and $1.88 EPS. At current levels, we believe that NEWP is undervalued when its growth rate is considered. Even with our revised estimates these shares are trading at only 2X this year’s sales, and 17X this year’s earnings and 13X nest year’s earnings. Since our revised estimates call for top line growth of more than 50%, we consider these shares to be cheap. We believe that NEWP is one of the strongest stories in the communications space. We believe that investors should take a close look at this story and buy shares on the recent weakness.”
RESEARCH ALERT -CSFB cuts Newport Corp. EPS estimates
NEW YORK, April 19 (Reuters) - Credit Suisse First Boston said on Thursday it cut its 2001 and 2002 earnings estimates on Newport Corp. (NasdaqNM:NEWP - news), whose products are used for assembling and testing fiber optic semiconductors, one day after the company reported quarterly results.
Newport after the bell on Wednesday reported diluted share earnings of 18 cents for the first quarter, up from 15 cents a year ago.
CSFB said Newport delivered ``solid`` first-quarter results but cut its estimates ``to reflect management`s increasingly conservative outlook.`` The firm said it lowered its estimates to $1.20 from $1.50 for 2001 and to $1.50 from $1.80 for 2002.
CSFB maintained its buy rating on Newport, whose shares ended Wednesday at $38.17, the low end of a 52-week range of $21.02 to $192.06.
NEW YORK, April 19 (Reuters) - Credit Suisse First Boston said on Thursday it cut its 2001 and 2002 earnings estimates on Newport Corp. (NasdaqNM:NEWP - news), whose products are used for assembling and testing fiber optic semiconductors, one day after the company reported quarterly results.
Newport after the bell on Wednesday reported diluted share earnings of 18 cents for the first quarter, up from 15 cents a year ago.
CSFB said Newport delivered ``solid`` first-quarter results but cut its estimates ``to reflect management`s increasingly conservative outlook.`` The firm said it lowered its estimates to $1.20 from $1.50 for 2001 and to $1.50 from $1.80 for 2002.
CSFB maintained its buy rating on Newport, whose shares ended Wednesday at $38.17, the low end of a 52-week range of $21.02 to $192.06.
MotleyFool.com - Fool News
Newport Soars
By Richard McCaffery
Fiber optics and semiconductor equipment company Newport (Nasdaq: NEWP - news) reported strong first- quarter results in a weak environment yesterday, and the company`s shares got a Nasdaq-style bounce as related companies such as semiconductor equipment maker Applied Materials (AMAT) stormed higher on hopes the worst of the industry downturn is over.
ADVERTISEMENT
Newport`s shares jumped almost 20% yesterday and another 10% today after the company reported strong growth in sales and net income last night. First-quarter profits, excluding non-recurring charges from acquisitions, soared 204% to $15.3 million, up from $5 million a year ago. Sales jumped 104% to $106.7 million, up from $52.4 million a year ago.
Despite the strong results and rising stock price, investors who bought shares of Newport around its 52-week high of $192 last fall are still feeling pain. The company`s shares closed today at $42.20. But investors can take solace in the fact that Newport isn`t an overleveraged telecom start-up, a bloated legacy carrier, or a goofy idea dreamed up by CMGI (Nasdaq: CMGI - news).
No, Newport is a 30-year-old company that sells testing, measurement, and automation equipment to a wide array of fiber optic and semiconductor companies, as well as a stable of university laboratories. The stock caught fire in the last two years as the fiber optics market accelerated, particularly once Newport gained traction in the nascent automation market. Newport wants to become the Applied Materials of the optics industry, providing integrated assembly, automation, and assembly equipment to components manufacturers.
The Applied Materials parallel is what propelled the stock to astronomical heights, and investors should be very careful with their assumptions. Newport has a long way to go before the comparison is valid. Still, management has done a good job proving that the optics industry -- which is really still a cottage business in many ways -- can be scaled.
Newport`s LaserWeld and AutoAlign products are the heart of its strategy and the products appear to be selling, even in a tough environment. Part of the reason for this, of course, is that Newport`s products are aimed at cutting costs for customers by helping them improve yields and cost-per-unit. Fiber optics components companies feeling the crunch are scaling back expansion plans and focusing on costs.
This works well for Newport, but it doesn`t mean the company is immune from cycles or downtrends. The book-to-bill ratio of its fiber optics division dropped to 0.8 in the first quarter from 1.6 in the third quarter of last year. (A book-to-bill of above 1 basically means the company is receiving more orders than it ships.) It has clearly fallen off, and the company is now in the position of shipping more orders than it receives. Such is life in a cyclical business.
Still, when I wrote about the company in our latest Industry Focus I wanted to see growing sales of the company`s automation products, and this appears to be happening. On the conference call the company said it will roll out its next generation LaserWeld product in May and it expects sales to accelerate through the year, moving into the double-digit range.
So where does Newport stand?
Newport`s business focus hasn`t changed and the company continues to make progress in its automation business. Manufacturers must improve yields and efficiency to become productive.
The long-term trend in the components industry is up, but no one knows what will happen in the short term.
There are still many privately funded start up fiber optics companies buying equipment. There will be a shakeout among these players, and that could affect sales.
Newport and companies of its kind are highly risky and should be approached by investors with a long time horizon and a keen interest in following a fiber optics company.
Have a great day.
Richard McCaffery invented Post-Its. His stock holdings can be viewed online, as can the Fool`s disclosure policy.
For more things Foolish, go to the The Motley Fool`s complete site! We aim to inform, educate and help you make good money, Fool. Also, check out the FoolMart, the place to shop for Foolish investing tools. Become a Fool for Motley Fool stock features, updates, contests, and product discounts!
Newport Soars
By Richard McCaffery
Fiber optics and semiconductor equipment company Newport (Nasdaq: NEWP - news) reported strong first- quarter results in a weak environment yesterday, and the company`s shares got a Nasdaq-style bounce as related companies such as semiconductor equipment maker Applied Materials (AMAT) stormed higher on hopes the worst of the industry downturn is over.
ADVERTISEMENT
Newport`s shares jumped almost 20% yesterday and another 10% today after the company reported strong growth in sales and net income last night. First-quarter profits, excluding non-recurring charges from acquisitions, soared 204% to $15.3 million, up from $5 million a year ago. Sales jumped 104% to $106.7 million, up from $52.4 million a year ago.
Despite the strong results and rising stock price, investors who bought shares of Newport around its 52-week high of $192 last fall are still feeling pain. The company`s shares closed today at $42.20. But investors can take solace in the fact that Newport isn`t an overleveraged telecom start-up, a bloated legacy carrier, or a goofy idea dreamed up by CMGI (Nasdaq: CMGI - news).
No, Newport is a 30-year-old company that sells testing, measurement, and automation equipment to a wide array of fiber optic and semiconductor companies, as well as a stable of university laboratories. The stock caught fire in the last two years as the fiber optics market accelerated, particularly once Newport gained traction in the nascent automation market. Newport wants to become the Applied Materials of the optics industry, providing integrated assembly, automation, and assembly equipment to components manufacturers.
The Applied Materials parallel is what propelled the stock to astronomical heights, and investors should be very careful with their assumptions. Newport has a long way to go before the comparison is valid. Still, management has done a good job proving that the optics industry -- which is really still a cottage business in many ways -- can be scaled.
Newport`s LaserWeld and AutoAlign products are the heart of its strategy and the products appear to be selling, even in a tough environment. Part of the reason for this, of course, is that Newport`s products are aimed at cutting costs for customers by helping them improve yields and cost-per-unit. Fiber optics components companies feeling the crunch are scaling back expansion plans and focusing on costs.
This works well for Newport, but it doesn`t mean the company is immune from cycles or downtrends. The book-to-bill ratio of its fiber optics division dropped to 0.8 in the first quarter from 1.6 in the third quarter of last year. (A book-to-bill of above 1 basically means the company is receiving more orders than it ships.) It has clearly fallen off, and the company is now in the position of shipping more orders than it receives. Such is life in a cyclical business.
Still, when I wrote about the company in our latest Industry Focus I wanted to see growing sales of the company`s automation products, and this appears to be happening. On the conference call the company said it will roll out its next generation LaserWeld product in May and it expects sales to accelerate through the year, moving into the double-digit range.
So where does Newport stand?
Newport`s business focus hasn`t changed and the company continues to make progress in its automation business. Manufacturers must improve yields and efficiency to become productive.
The long-term trend in the components industry is up, but no one knows what will happen in the short term.
There are still many privately funded start up fiber optics companies buying equipment. There will be a shakeout among these players, and that could affect sales.
Newport and companies of its kind are highly risky and should be approached by investors with a long time horizon and a keen interest in following a fiber optics company.
Have a great day.
Richard McCaffery invented Post-Its. His stock holdings can be viewed online, as can the Fool`s disclosure policy.
For more things Foolish, go to the The Motley Fool`s complete site! We aim to inform, educate and help you make good money, Fool. Also, check out the FoolMart, the place to shop for Foolish investing tools. Become a Fool for Motley Fool stock features, updates, contests, and product discounts!
Newport Corporation Reports Record First Quarter Results
Sales Fueled by Fiber Optic Communications and Semiconductor Equipment Markets
IRVINE, Calif.--(BUSINESS WIRE)--April 18, 2001--Newport Corporation (Nasdaq:NEWP - news) today reported results for its first quarter ended March 31, 2001, posting sharply increased sales and net income, excluding non-recurring charges related primarily to the integration of recently acquired companies.
Net sales in the first quarter of 2001 more than doubled to a record level of $106.7 million compared with sales of $52.4 million in the first quarter of 2000, and also increased 10 percent sequentially when compared with the previous record sales level of $96.8 million recorded in the fourth quarter of 2000.
First quarter results were impacted by $12.5 million of non-recurring charges related primarily to recently completed acquisitions. Even after including these non-recurring charges, first quarter net income increased 38 percent to $6.9 million, up from $5.0 million in last year`s first quarter. On a fully diluted basis, earnings per share increased 20 percent to $0.18 compared with $0.15 a year ago. Excluding non-recurring charges, net income would have increased 204 percent to $15.3 million, and fully diluted earnings per share would have increased 167 percent to $0.40.
Robert G. Deuster, chairman and chief executive officer, said, ``We are pleased to deliver yet another outstanding quarter - one that demonstrated an expanded capacity to increase output and showed significant strength especially in view of the uncertain conditions in our primary markets. Newport`s solid performance underscores the strength of our backlog and core operations and new technological competencies as a leading single-source supplier of test, measurement and automation to our major markets. We are off to a good start in 2001 as a result of the first quarter performance. But, we recognize that uncertain market conditions will make 2001 increasingly challenging. Nevertheless, our confidence for growth in 2001 compared with 2000 remains strong based on our healthy backlog, our recent acquisitions, and our expanded competencies in robotics and automation processes for fiber optics and semiconductor equipment applications.``
Fiber optic communications sales increased 165 percent in the first quarter of 2001 to $44.6 million compared with $16.8 million in the same period last year. This record level reflects approximately a 10 percent improvement sequentially compared with the previous record sales of $40.6 million in the fourth quarter of 2000. Semiconductor equipment sales rose 130 percent in the first quarter of 2001 to $27.1 million versus $11.8 million in the corresponding period of 2000 and were basically flat compared with the fourth quarter of 2000. Overall, these market segments contributed approximately 67 percent of total sales in the 2001 first quarter. In Newport`s other business segments, industrial metrology sales increased 77 percent to $23.1 million versus $13.1 million in the corresponding period of 2000 primarily as a result of the acquisition of CE Johansson, which was completed in December of 2000. Sales to the aerospace and research markets totaled $11.9 million, up 11 percent compared with $10.7 million in the first quarter of 2000.
Gross margin for the first quarter of 2001 was 42.7 percent including $1.8 million in non-recurring asset write-offs related to acquisitions. Excluding the non-recurring charge, gross margin would have been 44.4 percent.
Selling, general and administrative (SG&A) expense for the first quarter of 2001, including $10.7 million in non-recurring charges related primarily to the integration of recently acquired companies, totaled $30.9 million. Excluding the non-recurring charges, the company continues to effectively leverage selling, general and administrative expenses as a percent of sales. First quarter SG&A expense as a percent of sales, excluding the non-recurring charges, decreased to 19.0 percent in the first quarter of 2001 from 21.3 percent in the corresponding prior year period and 20.3 percent in the fourth quarter of 2000.
Newport`s research and development (R&D) expenses increased $3.1 million to $8.2 million, or 7.7 percent of sales, compared with R&D expense of $5.1 million, or 9.7 percent of sales, in the first quarter of 2000.
Operating income in the first quarter of 2001 totaled $6.4 million. Excluding non-recurring charges, operating income increased 136 percent to $18.9 million compared with $8.0 million in the first quarter of 2000 and increased 11.8 percent compared with the $16.0 million recorded in the fourth quarter of 2000. Operating margin in the first quarter of 2001, excluding non-recurring charges, increased to 17.7 percent of sales, compared with 15.3 percent in the corresponding period of 2000 and showed continued improvement compared with the 17.5 percent achieved in the fourth quarter of 2000.
Interest and other income, net of interest expense, consisting primarily of interest earned on investments in marketable securities, totaled $4.0 million for the first quarter of 2001 compared with $0.6 million expense in the first quarter of 2000. The tax rate for the first quarter was 33.0 percent versus 31.9 percent in the first quarter last year.
Total orders received in the first quarter of 2001 increased 35 percent to $89.7 million compared with $66.4 million for the same period in 2000. Fiber optic communications customer orders rose 45 percent to $34.3 million compared with $23.6 million in the first quarter of 2000. Semiconductor equipment orders increased 49 percent to $19.9 million, versus $13.3 million in the first quarter of 2000. Together, orders from these market segments were 60 percent of Newport`s total orders received in the first quarter of 2001.
Sequentially, Newport`s orders in the fiber optic communications and semiconductor equipment markets during the first quarter were down compared with the record levels in the fourth quarter of 2000, due to the overall softening in these two markets and the fact that order intake levels in the second-half of 2000 were supported by a relatively significant number of large individual orders.
Deuster added, ``We are pleased with our performance in the first quarter despite the uncertain economic conditions in our two primary end markets, fiber optic communications and semiconductor capital equipment. Market conditions have continued to deteriorate throughout this year and the diminished outlook communicated by many of our customers limits our visibility into the remainder of the year. The recent accelerated downturn in demand for optical components manufactured by our fiber optic customers, particularly in passive devices, has resulted in a near-term diminished demand for additional manufacturing capacity. Going forward, we believe that fiber optic device manufacturers will increasingly invest in capital equipment that improves yields and reduces manufacturing costs. This was confirmed at the recent Optical Fiber Conference where customers` response to our next generation integrated automation solutions was well received. In the semiconductor market, the deployment of 300 millimeter and narrow line-width technologies continues, but we have experienced softening demand in the 200 millimeter related capacity expansion equipment business. Despite the uncertain near-term market softness, we have confidence in the long-term viability and attractiveness of our primary end-markets. Further, we believe we are uniquely positioned to provide our customers with an increasing array of solutions to improve their cost structure and enhance their competitiveness during these challenging times.``
BUSINESS OUTLOOK
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
The company expects strong year-over-year sales growth to continue in the second quarter of 2001. Sales are expected to be in the range of $95 million to $100 million, or 55 to 65 percent over the comparable period of 2000. The lack of near-term visibility in customer order patterns creates uncertainty for the second half of 2001. If order intake in the remaining quarters of 2001 continues at the levels experienced in the first quarter of 2001, Newport anticipates that full year sales will be in the range of $365 million to $375 million.
Gross margin in the second quarter of 2001 is expected to be in the 43 to 44 percent range and then is expected to slightly increase to the 44 to 45 percent range for the third and fourth quarters of 2001.
SG&A expenses as a percent of sales for the remainder of the year are expected to be in the range of 18 to 20 percent excluding non-recurring charges. Acquisition related charges for the remainder of the year are expected to be less than $1.5 million.
R&D spending for the second quarter of 2001 and the full year is expected to be approximately 7.5 to 8.5 percent of sales.
The company expects interest and other income, net of interest expense, to be between $3 and $4 million per quarter for the remainder of 2001, depending on interest rates, cash balances, foreign exchange markets, and potential business development activity.
The tax rate for the second quarter of 2001 and the full year is expected to be in the range of 33 to 34 percent.
The company expects the number of diluted common shares outstanding to increase to 39 million to 40 million by the end of the year. Actual diluted shares may vary depending on share price trends and option grant and exercise activity.
Fully diluted earnings per share for the year, excluding non-recurring charges, is expected to be in the range of $1.30 to $1.40. Including non-recurring charges, fully diluted earnings per share is expected to be in the range of $1.08 to $1.18.
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
INVESTOR CONFERENCE CALL
Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will host an investor conference call today, April 18, 2001 at 5:00 p.m., Eastern Time, to review the company`s first quarter results. The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.newport.com and www.streetevents.com. For those who are not available to listen to the live broadcast, the call will be archived through 8:00 p.m. Eastern Time, Wednesday, May 2, 2001, on both Web sites. A telephonic playback of the conference call will also be available through 8:00 p.m., Eastern Time, April 27, 2001. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 18561906.
This news release contains forward-looking statements, including specifically statements made by Robert G. Deuster and statements in the BUSINESS OUTLOOK section that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the ability of Newport to successfully integrate its acquired and to-be-acquired companies and the contributions of those companies to Newport`s operating results, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
-0-
NEWPORT CORPORATION
Consolidated Income Statement
Adjusted to Exclude Non-Recurring Charges
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended March 31,
2001 2000 % Chg(a)
Excluding
As Non-recurring Non-recurring
Reported Charges Charges
Net sales $ 106,741 $ 106,741 $ 52,437 104
Cost of sales,
including asset
writedown related
to acquisition
integration 61,164 (1,788) 59,376 28,123
Gross profit 45,577 47,365 24,314 95
Selling, general
and administrative
expense 20,237 20,237 11,184
Acquisition and
other non-recurring
charges 10,683 (10,683) -- --
Research and development
expense 8,211 8,211 5,098
Income from
operations 6,446 18,917 8,032 136
Income from
operations % 6.0 17.7 15.3
Interest expense 370 (48) 322 653
Interest income 4,090 4,090 105
Other income
(expense), net 195 195 (80)
Income before
income taxes 10,361 22,880 7,404 209
Income tax
provision 3,419 4,131 7,550 2,362
Net income $ 6,942 $ 15,330 $ 5,042 204
Earnings per share:
Basic $0.19 $0.42 $0.16 163
Diluted $0.18 $0.40 $0.15 167
Number of shares used
to calculate earnings
per share:
Basic 36,165 36,165 31,526
Diluted 37,988 37,988 33,913
(a) Comparison of March 31, 2001, excluding non-recurring charges
versus March 31, 2000.
NEWPORT CORPORATION
Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended
March 31,
2001 2000 % Chg
Net sales $ 106,741 $ 52,437 104
Cost of sales, including
asset writedown related to
acquisition integration 61,164 28,123
Gross profit 45,577 24,314 87
Selling, general and
administrative expense 20,237 11,184
Acquisition and other
non-recurring charges 10,683 --
Research and development expense 8,211 5,098
Income from operations 6,446 8,032 (20)
Income from operations % 6.0 15.3
Interest expense 370 653
Interest income 4,090 105
Other income (expense), net 195 (80)
Income before income taxes 10,361 7,404 40
Income tax provision 3,419 2,362
Net income $ 6,942 $ 5,042 38
Earnings per share:
Basic $ 0.19 $ 0.16 19
Diluted $ 0.18 $ 0.15 20
Number of shares used to
calculate earnings per share:
Basic 36,165 31,526
Diluted 37,988 33,913
Condensed Consolidated Balance Sheet
(In thousands) March 31, December 31,
2001 2000
(Unaudited)
ASSETS
Cash and cash equivalents $ 16,572 $ 16,861
Marketable securities 257,345 289,781
Customer receivables, net 79,647 70,241
Income tax receivable -- 4,110
Inventories 102,395 80,585
Deferred tax assets 17,674 17,720
Other current assets 6,884 7,836
Total current assets 480,517 487,134
Investments and other assets 8,498 9,773
Property, plant and equipment, net 43,632 41,308
Goodwill, net 28,412 18,805
$ 561,059 $ 557,020
March 31, December 31,
2001 2000
(Unaudited)
LIABILITIES AND EQUITY
Accounts payable $ 26,833 $ 24,797
Accrued payroll expenses 10,179 13,313
Current portion of long-term debt 8,094 7,590
Deferred revenue 3,602 2,696
Other current liabilities 10,619 12,444
Total current liabilities 59,327 60,840
Long-term debt 7,075 9,540
Deferred tax liabilities 1,287 675
Stockholders` equity 493,370 485,965
$ 561,059 $ 557,020
Sales Fueled by Fiber Optic Communications and Semiconductor Equipment Markets
IRVINE, Calif.--(BUSINESS WIRE)--April 18, 2001--Newport Corporation (Nasdaq:NEWP - news) today reported results for its first quarter ended March 31, 2001, posting sharply increased sales and net income, excluding non-recurring charges related primarily to the integration of recently acquired companies.
Net sales in the first quarter of 2001 more than doubled to a record level of $106.7 million compared with sales of $52.4 million in the first quarter of 2000, and also increased 10 percent sequentially when compared with the previous record sales level of $96.8 million recorded in the fourth quarter of 2000.
First quarter results were impacted by $12.5 million of non-recurring charges related primarily to recently completed acquisitions. Even after including these non-recurring charges, first quarter net income increased 38 percent to $6.9 million, up from $5.0 million in last year`s first quarter. On a fully diluted basis, earnings per share increased 20 percent to $0.18 compared with $0.15 a year ago. Excluding non-recurring charges, net income would have increased 204 percent to $15.3 million, and fully diluted earnings per share would have increased 167 percent to $0.40.
Robert G. Deuster, chairman and chief executive officer, said, ``We are pleased to deliver yet another outstanding quarter - one that demonstrated an expanded capacity to increase output and showed significant strength especially in view of the uncertain conditions in our primary markets. Newport`s solid performance underscores the strength of our backlog and core operations and new technological competencies as a leading single-source supplier of test, measurement and automation to our major markets. We are off to a good start in 2001 as a result of the first quarter performance. But, we recognize that uncertain market conditions will make 2001 increasingly challenging. Nevertheless, our confidence for growth in 2001 compared with 2000 remains strong based on our healthy backlog, our recent acquisitions, and our expanded competencies in robotics and automation processes for fiber optics and semiconductor equipment applications.``
Fiber optic communications sales increased 165 percent in the first quarter of 2001 to $44.6 million compared with $16.8 million in the same period last year. This record level reflects approximately a 10 percent improvement sequentially compared with the previous record sales of $40.6 million in the fourth quarter of 2000. Semiconductor equipment sales rose 130 percent in the first quarter of 2001 to $27.1 million versus $11.8 million in the corresponding period of 2000 and were basically flat compared with the fourth quarter of 2000. Overall, these market segments contributed approximately 67 percent of total sales in the 2001 first quarter. In Newport`s other business segments, industrial metrology sales increased 77 percent to $23.1 million versus $13.1 million in the corresponding period of 2000 primarily as a result of the acquisition of CE Johansson, which was completed in December of 2000. Sales to the aerospace and research markets totaled $11.9 million, up 11 percent compared with $10.7 million in the first quarter of 2000.
Gross margin for the first quarter of 2001 was 42.7 percent including $1.8 million in non-recurring asset write-offs related to acquisitions. Excluding the non-recurring charge, gross margin would have been 44.4 percent.
Selling, general and administrative (SG&A) expense for the first quarter of 2001, including $10.7 million in non-recurring charges related primarily to the integration of recently acquired companies, totaled $30.9 million. Excluding the non-recurring charges, the company continues to effectively leverage selling, general and administrative expenses as a percent of sales. First quarter SG&A expense as a percent of sales, excluding the non-recurring charges, decreased to 19.0 percent in the first quarter of 2001 from 21.3 percent in the corresponding prior year period and 20.3 percent in the fourth quarter of 2000.
Newport`s research and development (R&D) expenses increased $3.1 million to $8.2 million, or 7.7 percent of sales, compared with R&D expense of $5.1 million, or 9.7 percent of sales, in the first quarter of 2000.
Operating income in the first quarter of 2001 totaled $6.4 million. Excluding non-recurring charges, operating income increased 136 percent to $18.9 million compared with $8.0 million in the first quarter of 2000 and increased 11.8 percent compared with the $16.0 million recorded in the fourth quarter of 2000. Operating margin in the first quarter of 2001, excluding non-recurring charges, increased to 17.7 percent of sales, compared with 15.3 percent in the corresponding period of 2000 and showed continued improvement compared with the 17.5 percent achieved in the fourth quarter of 2000.
Interest and other income, net of interest expense, consisting primarily of interest earned on investments in marketable securities, totaled $4.0 million for the first quarter of 2001 compared with $0.6 million expense in the first quarter of 2000. The tax rate for the first quarter was 33.0 percent versus 31.9 percent in the first quarter last year.
Total orders received in the first quarter of 2001 increased 35 percent to $89.7 million compared with $66.4 million for the same period in 2000. Fiber optic communications customer orders rose 45 percent to $34.3 million compared with $23.6 million in the first quarter of 2000. Semiconductor equipment orders increased 49 percent to $19.9 million, versus $13.3 million in the first quarter of 2000. Together, orders from these market segments were 60 percent of Newport`s total orders received in the first quarter of 2001.
Sequentially, Newport`s orders in the fiber optic communications and semiconductor equipment markets during the first quarter were down compared with the record levels in the fourth quarter of 2000, due to the overall softening in these two markets and the fact that order intake levels in the second-half of 2000 were supported by a relatively significant number of large individual orders.
Deuster added, ``We are pleased with our performance in the first quarter despite the uncertain economic conditions in our two primary end markets, fiber optic communications and semiconductor capital equipment. Market conditions have continued to deteriorate throughout this year and the diminished outlook communicated by many of our customers limits our visibility into the remainder of the year. The recent accelerated downturn in demand for optical components manufactured by our fiber optic customers, particularly in passive devices, has resulted in a near-term diminished demand for additional manufacturing capacity. Going forward, we believe that fiber optic device manufacturers will increasingly invest in capital equipment that improves yields and reduces manufacturing costs. This was confirmed at the recent Optical Fiber Conference where customers` response to our next generation integrated automation solutions was well received. In the semiconductor market, the deployment of 300 millimeter and narrow line-width technologies continues, but we have experienced softening demand in the 200 millimeter related capacity expansion equipment business. Despite the uncertain near-term market softness, we have confidence in the long-term viability and attractiveness of our primary end-markets. Further, we believe we are uniquely positioned to provide our customers with an increasing array of solutions to improve their cost structure and enhance their competitiveness during these challenging times.``
BUSINESS OUTLOOK
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
The company expects strong year-over-year sales growth to continue in the second quarter of 2001. Sales are expected to be in the range of $95 million to $100 million, or 55 to 65 percent over the comparable period of 2000. The lack of near-term visibility in customer order patterns creates uncertainty for the second half of 2001. If order intake in the remaining quarters of 2001 continues at the levels experienced in the first quarter of 2001, Newport anticipates that full year sales will be in the range of $365 million to $375 million.
Gross margin in the second quarter of 2001 is expected to be in the 43 to 44 percent range and then is expected to slightly increase to the 44 to 45 percent range for the third and fourth quarters of 2001.
SG&A expenses as a percent of sales for the remainder of the year are expected to be in the range of 18 to 20 percent excluding non-recurring charges. Acquisition related charges for the remainder of the year are expected to be less than $1.5 million.
R&D spending for the second quarter of 2001 and the full year is expected to be approximately 7.5 to 8.5 percent of sales.
The company expects interest and other income, net of interest expense, to be between $3 and $4 million per quarter for the remainder of 2001, depending on interest rates, cash balances, foreign exchange markets, and potential business development activity.
The tax rate for the second quarter of 2001 and the full year is expected to be in the range of 33 to 34 percent.
The company expects the number of diluted common shares outstanding to increase to 39 million to 40 million by the end of the year. Actual diluted shares may vary depending on share price trends and option grant and exercise activity.
Fully diluted earnings per share for the year, excluding non-recurring charges, is expected to be in the range of $1.30 to $1.40. Including non-recurring charges, fully diluted earnings per share is expected to be in the range of $1.08 to $1.18.
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
INVESTOR CONFERENCE CALL
Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will host an investor conference call today, April 18, 2001 at 5:00 p.m., Eastern Time, to review the company`s first quarter results. The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.newport.com and www.streetevents.com. For those who are not available to listen to the live broadcast, the call will be archived through 8:00 p.m. Eastern Time, Wednesday, May 2, 2001, on both Web sites. A telephonic playback of the conference call will also be available through 8:00 p.m., Eastern Time, April 27, 2001. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 18561906.
This news release contains forward-looking statements, including specifically statements made by Robert G. Deuster and statements in the BUSINESS OUTLOOK section that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the ability of Newport to successfully integrate its acquired and to-be-acquired companies and the contributions of those companies to Newport`s operating results, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
-0-
NEWPORT CORPORATION
Consolidated Income Statement
Adjusted to Exclude Non-Recurring Charges
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended March 31,
2001 2000 % Chg(a)
Excluding
As Non-recurring Non-recurring
Reported Charges Charges
Net sales $ 106,741 $ 106,741 $ 52,437 104
Cost of sales,
including asset
writedown related
to acquisition
integration 61,164 (1,788) 59,376 28,123
Gross profit 45,577 47,365 24,314 95
Selling, general
and administrative
expense 20,237 20,237 11,184
Acquisition and
other non-recurring
charges 10,683 (10,683) -- --
Research and development
expense 8,211 8,211 5,098
Income from
operations 6,446 18,917 8,032 136
Income from
operations % 6.0 17.7 15.3
Interest expense 370 (48) 322 653
Interest income 4,090 4,090 105
Other income
(expense), net 195 195 (80)
Income before
income taxes 10,361 22,880 7,404 209
Income tax
provision 3,419 4,131 7,550 2,362
Net income $ 6,942 $ 15,330 $ 5,042 204
Earnings per share:
Basic $0.19 $0.42 $0.16 163
Diluted $0.18 $0.40 $0.15 167
Number of shares used
to calculate earnings
per share:
Basic 36,165 36,165 31,526
Diluted 37,988 37,988 33,913
(a) Comparison of March 31, 2001, excluding non-recurring charges
versus March 31, 2000.
NEWPORT CORPORATION
Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended
March 31,
2001 2000 % Chg
Net sales $ 106,741 $ 52,437 104
Cost of sales, including
asset writedown related to
acquisition integration 61,164 28,123
Gross profit 45,577 24,314 87
Selling, general and
administrative expense 20,237 11,184
Acquisition and other
non-recurring charges 10,683 --
Research and development expense 8,211 5,098
Income from operations 6,446 8,032 (20)
Income from operations % 6.0 15.3
Interest expense 370 653
Interest income 4,090 105
Other income (expense), net 195 (80)
Income before income taxes 10,361 7,404 40
Income tax provision 3,419 2,362
Net income $ 6,942 $ 5,042 38
Earnings per share:
Basic $ 0.19 $ 0.16 19
Diluted $ 0.18 $ 0.15 20
Number of shares used to
calculate earnings per share:
Basic 36,165 31,526
Diluted 37,988 33,913
Condensed Consolidated Balance Sheet
(In thousands) March 31, December 31,
2001 2000
(Unaudited)
ASSETS
Cash and cash equivalents $ 16,572 $ 16,861
Marketable securities 257,345 289,781
Customer receivables, net 79,647 70,241
Income tax receivable -- 4,110
Inventories 102,395 80,585
Deferred tax assets 17,674 17,720
Other current assets 6,884 7,836
Total current assets 480,517 487,134
Investments and other assets 8,498 9,773
Property, plant and equipment, net 43,632 41,308
Goodwill, net 28,412 18,805
$ 561,059 $ 557,020
March 31, December 31,
2001 2000
(Unaudited)
LIABILITIES AND EQUITY
Accounts payable $ 26,833 $ 24,797
Accrued payroll expenses 10,179 13,313
Current portion of long-term debt 8,094 7,590
Deferred revenue 3,602 2,696
Other current liabilities 10,619 12,444
Total current liabilities 59,327 60,840
Long-term debt 7,075 9,540
Deferred tax liabilities 1,287 675
Stockholders` equity 493,370 485,965
$ 561,059 $ 557,020
Newport Corp. Announces Executive Management Appointments in Finance
IRVINE, Calif.--(BUSINESS WIRE)--April 30, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced the promotions of William R. Abbott to the newly created position of vice president of finance and treasurer, and Delia S. Van Kampen as corporate controller.
The appointments are effective immediately.
``Bill and Delia have each played an integral role in Newport`s finance organization in recent years,`` said Charles F. Cargile, vice president and chief financial officer. ``The promotions reflect the contributions they have made to Newport and more importantly put them in key positions to lead the finance organization as we go forward.``
Abbott, 44, who most recently served as vice president and corporate controller for Newport, has more than 23 years of experience in senior finance management positions.
Prior to joining Newport in 1997, Abbott served as vice president and corporate controller for international manufacturing concern Sunclipse Inc., in Buena Park, Calif. During his career, he also worked as a consultant for Pacific One Systems in Fullerton, Calif., and as director of financial planning for Coca-Cola Enterprises` Los Angeles-based operating unit.
He has held other major executive finance positions with Pepsico Inc. and McKesson Corp. He began his career as an auditor with Price Waterhouse.
Abbott earned a master of business administration degree from Pepperdine University in 1986. He holds a bachelor`s degree in accounting from Fairfield University in Fairfield, Conn.
Van Kampen, 37, most recently served as Newport senior manager of financial planning and analysis. Prior to joining Newport in 1997, she was manager of corporate accounting for Cycare Systems in Scottsdale, Ariz. In her 11 years at Cycare, she held various other financial posts, including division controller and financial analyst.
Van Kampen, who is a certified public accountant, is a graduate of the University of Texas-San Antonio, where she received a bachelor`s degree in business administration in accounting. She also is a member of the American Institute of Certified Public Accountants and the Arizona Board of Accountancy.
About Newport
Newport is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber-optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com (e-mail)
www.newport.com (Web site)
or
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson or E.E. Wang, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--April 30, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced the promotions of William R. Abbott to the newly created position of vice president of finance and treasurer, and Delia S. Van Kampen as corporate controller.
The appointments are effective immediately.
``Bill and Delia have each played an integral role in Newport`s finance organization in recent years,`` said Charles F. Cargile, vice president and chief financial officer. ``The promotions reflect the contributions they have made to Newport and more importantly put them in key positions to lead the finance organization as we go forward.``
Abbott, 44, who most recently served as vice president and corporate controller for Newport, has more than 23 years of experience in senior finance management positions.
Prior to joining Newport in 1997, Abbott served as vice president and corporate controller for international manufacturing concern Sunclipse Inc., in Buena Park, Calif. During his career, he also worked as a consultant for Pacific One Systems in Fullerton, Calif., and as director of financial planning for Coca-Cola Enterprises` Los Angeles-based operating unit.
He has held other major executive finance positions with Pepsico Inc. and McKesson Corp. He began his career as an auditor with Price Waterhouse.
Abbott earned a master of business administration degree from Pepperdine University in 1986. He holds a bachelor`s degree in accounting from Fairfield University in Fairfield, Conn.
Van Kampen, 37, most recently served as Newport senior manager of financial planning and analysis. Prior to joining Newport in 1997, she was manager of corporate accounting for Cycare Systems in Scottsdale, Ariz. In her 11 years at Cycare, she held various other financial posts, including division controller and financial analyst.
Van Kampen, who is a certified public accountant, is a graduate of the University of Texas-San Antonio, where she received a bachelor`s degree in business administration in accounting. She also is a member of the American Institute of Certified Public Accountants and the Arizona Board of Accountancy.
About Newport
Newport is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber-optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com (e-mail)
www.newport.com (Web site)
or
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson or E.E. Wang, 310/207-9300
investor@pondel.com
Newport Corp. to Present at Three Investment Conferences in May
IRVINE, Calif.--(BUSINESS WIRE)--April 30, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make presentations to the investment community at three investor conferences in May.
Newport`s presentations will be conducted at the:
JPMorgan H&Q 29th Annual Technology Conference, Thursday, May 3, 2001, at 11 a.m. PDT at the Westin St. Francis, San Francisco. A live Webcast will be available by accessing http://www.jpmhq.com/events.
Wit SoundView Technology Photonics Conference, Wednesday, May 9, 2001, at 11:30 a.m. EDT, at the Waldorf Astoria Hotel, New York. Interested investors can access a live Webcast of the company`s presentation via http://www.vcall.com/NASApp/Vcall/EventPage?ID=73340.
Credit Suisse First Boston on Tuesday, May 15, 2001, at 11 a.m. MST, at the Arizona Biltmore Resort and Spa, in Phoenix. A live Webcast will be available by accessing http://comms2001.csfbconferences.com.
Newport will post a copy of the PowerPoint presentations made at these conferences on the company`s Web site at http://www.newport.com the day of the respective conferences.
During all three presentations, Deuster and Cargile will review the company`s operations, financial performance and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp.
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--April 30, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make presentations to the investment community at three investor conferences in May.
Newport`s presentations will be conducted at the:
JPMorgan H&Q 29th Annual Technology Conference, Thursday, May 3, 2001, at 11 a.m. PDT at the Westin St. Francis, San Francisco. A live Webcast will be available by accessing http://www.jpmhq.com/events.
Wit SoundView Technology Photonics Conference, Wednesday, May 9, 2001, at 11:30 a.m. EDT, at the Waldorf Astoria Hotel, New York. Interested investors can access a live Webcast of the company`s presentation via http://www.vcall.com/NASApp/Vcall/EventPage?ID=73340.
Credit Suisse First Boston on Tuesday, May 15, 2001, at 11 a.m. MST, at the Arizona Biltmore Resort and Spa, in Phoenix. A live Webcast will be available by accessing http://comms2001.csfbconferences.com.
Newport will post a copy of the PowerPoint presentations made at these conferences on the company`s Web site at http://www.newport.com the day of the respective conferences.
During all three presentations, Deuster and Cargile will review the company`s operations, financial performance and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp.
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
@ Panik
Eine bessere amerikanische Tech-Aktie kann man kaum finden.Das Unternehmen existiert seit über 30 Jahren und hat eine gute Produktdiversifikation mit exzellenten Zukunftchancen.Das Management ist äußersst kompetent.
KGV um 40,nicht zu hoch,Marktkapitalisierung nicht zu klein,ausreichend liquide.
Die Firma schreibt schwarze Zahlen,was inden USA eine Seltenheit geworden ist.
Über Kauflimits kann man kontrovers diskuttieren,ich besitze das Papier nicht,werde unter 25 $ nach unten kaufen(ich vertrete die Meinung,dass der amerik. Markt wieder fällt-NASDAQ unter 2000 Pkt.).
Grüsse,
Bird of prey
Eine bessere amerikanische Tech-Aktie kann man kaum finden.Das Unternehmen existiert seit über 30 Jahren und hat eine gute Produktdiversifikation mit exzellenten Zukunftchancen.Das Management ist äußersst kompetent.
KGV um 40,nicht zu hoch,Marktkapitalisierung nicht zu klein,ausreichend liquide.
Die Firma schreibt schwarze Zahlen,was inden USA eine Seltenheit geworden ist.
Über Kauflimits kann man kontrovers diskuttieren,ich besitze das Papier nicht,werde unter 25 $ nach unten kaufen(ich vertrete die Meinung,dass der amerik. Markt wieder fällt-NASDAQ unter 2000 Pkt.).
Grüsse,
Bird of prey
@herbertraubvogel
Finde ich auch im Moment,das Newp das beste ist! Zur Zeit trade ich mit Newp.
Langfristig Top!
Ich hoffe das ich sie bei ca 30$ bekomme,damit wäre ich zufrieden
Wird schwer in den nächsten Wochen(billig zu bekommen) nimmt Newp an 3 High-tech Konferenzen teil,da werden bestimmt positive Stimmen kommen.
Gruß panik
Finde ich auch im Moment,das Newp das beste ist! Zur Zeit trade ich mit Newp.
Langfristig Top!
Ich hoffe das ich sie bei ca 30$ bekomme,damit wäre ich zufrieden
Wird schwer in den nächsten Wochen(billig zu bekommen) nimmt Newp an 3 High-tech Konferenzen teil,da werden bestimmt positive Stimmen kommen.
Gruß panik
Newport Corp. Receives Outstanding Public Company Award From American Electronics Association
Company Honored for Record Achievements in 2000
IRVINE, Calif.--(BUSINESS WIRE)--May 18, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that it has received the Outstanding Public Company Award from the Orange County Chapter of the American Electronics Association (AEA).
The award, presented Thursday at the AEA`s Eighth Annual Technology Awards ceremony, honors a publicly owned Orange County-based technology company for outstanding performance and leadership, including demonstrated growth in revenues and earnings for the year 2000.
``We are pleased to have Newport`s success so recognized,`` said Robert G. Deuster, president and chief executive officer. ``Newport`s selection is a reflection of the stellar year the company had in 2000 and underscores our position as the leading global solution provider to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets.``
In 2000, Newport`s revenues rose a record 78 percent to $284.0 million, and net income more than tripled to $36.3 million. The company`s market capitalization increased from approximately $390 million to $2.6 billion at the end of the year.
During the year, the company completed a three-for-one stock split that generated approximately $300 million in capital, which the company is utilizing to expand its position in core markets. The company has been named to the Russell 1000 Index of large capitalization stocks as well as the Standard & Poor`s Midcap 400 Index.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
About AEA
The American Electronics Association is the nation`s largest high-tech trade group, representing more than 3,000 U.S.-based technology companies. Membership spans the industry product and service spectrum, from semiconductors and software to computers, Internet and telecommunications systems and services.
With 18 regional U.S. councils and offices in Brussels, Tokyo and Beijing, AEA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. For 56 years, AEA has been the accepted voice of the U.S. technology community.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
KEYWORD CALIFORNIA
BELGIUM JAPAN CHINA INTERNATIONAL ASIA PACIFIC EUROPE
INDUSTRY KEYWORD: HARDWARE NETWORKING TELECOMMUNICATIONS
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
Company Honored for Record Achievements in 2000
IRVINE, Calif.--(BUSINESS WIRE)--May 18, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that it has received the Outstanding Public Company Award from the Orange County Chapter of the American Electronics Association (AEA).
The award, presented Thursday at the AEA`s Eighth Annual Technology Awards ceremony, honors a publicly owned Orange County-based technology company for outstanding performance and leadership, including demonstrated growth in revenues and earnings for the year 2000.
``We are pleased to have Newport`s success so recognized,`` said Robert G. Deuster, president and chief executive officer. ``Newport`s selection is a reflection of the stellar year the company had in 2000 and underscores our position as the leading global solution provider to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets.``
In 2000, Newport`s revenues rose a record 78 percent to $284.0 million, and net income more than tripled to $36.3 million. The company`s market capitalization increased from approximately $390 million to $2.6 billion at the end of the year.
During the year, the company completed a three-for-one stock split that generated approximately $300 million in capital, which the company is utilizing to expand its position in core markets. The company has been named to the Russell 1000 Index of large capitalization stocks as well as the Standard & Poor`s Midcap 400 Index.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
About AEA
The American Electronics Association is the nation`s largest high-tech trade group, representing more than 3,000 U.S.-based technology companies. Membership spans the industry product and service spectrum, from semiconductors and software to computers, Internet and telecommunications systems and services.
With 18 regional U.S. councils and offices in Brussels, Tokyo and Beijing, AEA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. For 56 years, AEA has been the accepted voice of the U.S. technology community.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
KEYWORD CALIFORNIA
BELGIUM JAPAN CHINA INTERNATIONAL ASIA PACIFIC EUROPE
INDUSTRY KEYWORD: HARDWARE NETWORKING TELECOMMUNICATIONS
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
Newport Corp. Nominates William R. Rauth to Board of Directors
IRVINE, Calif.--(BUSINESS WIRE)--May 21, 2001--Newport Corp. (Nasdaq:NEWP - news) has announced the nomination of William R. Rauth III for election to a four-year term to its board of directors.
Shareholders will vote on Rauth at Newport`s annual meeting on May 30, 2001.
Rauth, 57, is a founding partner in the law firm of Stradling Yocca Carlson & Rauth, the largest Orange County-based law firm with more than 100 lawyers in Newport Beach, San Francisco and Santa Barbara. He specializes in corporate and securities law and is a frequent lecturer on various panels and programs dealing with corporate law.
Rauth is nominated to replace John Subak, 72, who is retiring from the board after nine years of service.
``We extend our appreciation to John Subak for his significant contributions to Newport. His counsel over the years has been integral to the success of our company,`` said Robert G. Deuster, chairman and chief executive officer of Newport.
``At the same time, we look forward to Bill Rauth joining Newport`s board of directors. His level of experience will be a great asset to the company as we continue to grow as the leading global integrated solution provider to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets.``
Currently, Rauth is a general partner of the Investment Group of Santa Barbara (IGSB), a private investment company that manages both venture and public equity portfolios. IGSB has invested in and provided guidance to a number of successful companies, including The Learning Company, Advent Software and Wavefront Technologies.
In addition to his position with IGSB, Rauth currently is secretary and co-founder of GlobalEnglish Corp., an English language support and instruction company focused on satisfying the English language needs of people around the world.
Rauth has served on the boards of directors of several public and private corporations and civic and charitable organizations. He currently is chairman of the board of trustees of the UCSB Foundation.
Rauth received his Juris Doctorate from the University of California School of Law at Berkeley, where he was elected to the Order of the Coif. He received a bachelor of arts degree in economics with high honors from the University of California at Santa Barbara.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber-optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson / E.E. Wang, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--May 21, 2001--Newport Corp. (Nasdaq:NEWP - news) has announced the nomination of William R. Rauth III for election to a four-year term to its board of directors.
Shareholders will vote on Rauth at Newport`s annual meeting on May 30, 2001.
Rauth, 57, is a founding partner in the law firm of Stradling Yocca Carlson & Rauth, the largest Orange County-based law firm with more than 100 lawyers in Newport Beach, San Francisco and Santa Barbara. He specializes in corporate and securities law and is a frequent lecturer on various panels and programs dealing with corporate law.
Rauth is nominated to replace John Subak, 72, who is retiring from the board after nine years of service.
``We extend our appreciation to John Subak for his significant contributions to Newport. His counsel over the years has been integral to the success of our company,`` said Robert G. Deuster, chairman and chief executive officer of Newport.
``At the same time, we look forward to Bill Rauth joining Newport`s board of directors. His level of experience will be a great asset to the company as we continue to grow as the leading global integrated solution provider to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets.``
Currently, Rauth is a general partner of the Investment Group of Santa Barbara (IGSB), a private investment company that manages both venture and public equity portfolios. IGSB has invested in and provided guidance to a number of successful companies, including The Learning Company, Advent Software and Wavefront Technologies.
In addition to his position with IGSB, Rauth currently is secretary and co-founder of GlobalEnglish Corp., an English language support and instruction company focused on satisfying the English language needs of people around the world.
Rauth has served on the boards of directors of several public and private corporations and civic and charitable organizations. He currently is chairman of the board of trustees of the UCSB Foundation.
Rauth received his Juris Doctorate from the University of California School of Law at Berkeley, where he was elected to the Order of the Coif. He received a bachelor of arts degree in economics with high honors from the University of California at Santa Barbara.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber-optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson / E.E. Wang, 310/207-9300
investor@pondel.com
Newport Corporation Appoints Jeffrey B. Coyne Vice President and Corporate General Counsel
IRVINE, Calif.--(BUSINESS WIRE)--June 4, 2001--Newport Corporation (Nasdaq:NEWP - news) today announced the appointment of Jeffrey B. Coyne to the newly created position of vice president and corporate general counsel, effective June 1, 2001.
He will report directly to Robert G. Deuster, president and chief executive officer.
Coyne, 34, most recently served as a partner at Stradling Yocca Carlson & Rauth, Orange County`s largest corporate law firm, with more than 100 attorneys and offices in Newport Beach, San Francisco and Santa Barbara. During his career with the law firm, he has specialized in corporate and securities law, assisting companies with Securities and Exchange Commission reporting and compliance requirements, secured and unsecured debt financings, strategic alliances, technology licensing, commercial law and other general corporate legal matters.
Deuster said, ``In Jeff Coyne we have an outstanding legal counsel to help support our growth goals. We look forward to benefiting from his expertise in corporate law as well as his intimate knowledge of Newport, gained through more than seven years of working together in his role as Newport`s outside legal counsel.``
While with Stradling Yocca Carlson & Rauth, Coyne served as chairman of the firm`s Securities Law Practice Group, and provided extensive counseling to publicly held companies on corporate governance matters, defensive measures, disclosure issues and other complex securities law issues. Prior to joining the firm, Coyne was an associate in the real estate department of Pillsbury Madison & Sutro in Los Angeles.
Coyne is a member of the State Bar of California as well as the Orange County Bar Association. He received his Juris Doctor Degree in 1991 from the University of Southern California Law Center. He also earned a bachelor`s degree in economics from Duke University in 1988.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson / E.E. Wang, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--June 4, 2001--Newport Corporation (Nasdaq:NEWP - news) today announced the appointment of Jeffrey B. Coyne to the newly created position of vice president and corporate general counsel, effective June 1, 2001.
He will report directly to Robert G. Deuster, president and chief executive officer.
Coyne, 34, most recently served as a partner at Stradling Yocca Carlson & Rauth, Orange County`s largest corporate law firm, with more than 100 attorneys and offices in Newport Beach, San Francisco and Santa Barbara. During his career with the law firm, he has specialized in corporate and securities law, assisting companies with Securities and Exchange Commission reporting and compliance requirements, secured and unsecured debt financings, strategic alliances, technology licensing, commercial law and other general corporate legal matters.
Deuster said, ``In Jeff Coyne we have an outstanding legal counsel to help support our growth goals. We look forward to benefiting from his expertise in corporate law as well as his intimate knowledge of Newport, gained through more than seven years of working together in his role as Newport`s outside legal counsel.``
While with Stradling Yocca Carlson & Rauth, Coyne served as chairman of the firm`s Securities Law Practice Group, and provided extensive counseling to publicly held companies on corporate governance matters, defensive measures, disclosure issues and other complex securities law issues. Prior to joining the firm, Coyne was an associate in the real estate department of Pillsbury Madison & Sutro in Los Angeles.
Coyne is a member of the State Bar of California as well as the Orange County Bar Association. He received his Juris Doctor Degree in 1991 from the University of Southern California Law Center. He also earned a bachelor`s degree in economics from Duke University in 1988.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson / E.E. Wang, 310/207-9300
investor@pondel.com
Newport Corporation Declares Semiannual Dividend
IRVINE, Calif.--(BUSINESS WIRE)--June 5, 2001--The Board of Directors of Newport Corporation (Nasdaq:NEWP - news) has declared a regular semiannual cash dividend of $0.01 per share on its common stock, payable July 10, 2001, to shareholders of record June 15, 2001.
Newport Corp. is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--June 5, 2001--The Board of Directors of Newport Corporation (Nasdaq:NEWP - news) has declared a regular semiannual cash dividend of $0.01 per share on its common stock, payable July 10, 2001, to shareholders of record June 15, 2001.
Newport Corp. is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson, 310/207-9300
investor@pondel.com
Newport Corporation to Present At Banc of America Securities Growth Conference in Paris
IRVINE, Calif.--(BUSINESS WIRE)--June 6, 2001--Newport Corporation (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make a corporate presentation to the investment community on Tuesday, June 12, 2001, at Banc of America Securities` Growth Stock Conference at the George V, Four Seasons Hotel in Paris, France.
During the conference, Deuster and Cargile will review the company`s operations, financial performance and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
Newport will post a copy of the PowerPoint presentation made at the conference on the company`s Web site at http://www.newport.com the day of the conference.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The Company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corporation, Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
IRVINE, Calif.--(BUSINESS WIRE)--June 6, 2001--Newport Corporation (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make a corporate presentation to the investment community on Tuesday, June 12, 2001, at Banc of America Securities` Growth Stock Conference at the George V, Four Seasons Hotel in Paris, France.
During the conference, Deuster and Cargile will review the company`s operations, financial performance and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets.
Newport will post a copy of the PowerPoint presentation made at the conference on the company`s Web site at http://www.newport.com the day of the conference.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The Company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
Contact:
Newport Corporation, Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
:47AM Newport Corp (NEWP) 26.80: ABN AMRO lowers FY01 est. $1.10 from $1.35 and FY02 to $1.30 from $1.70. Says JDSU`s surprisingly severe reduction to its revenue outlook suggests that most optical component manufacturers will be lowering their capital spending budgets for `01 and `02. Maintains Hold rating.
Hey PANIK!
Die Situation sieht nicht besonders rosig aus,trotzallem habe ich vorsichtig begonnen, NEWP einzusammeln.Langfristig betrachte ich NEWP als ein Topwert,die optischen Technologien werden ein zukünftiger Börsentrend sein.
Grüsse,
Bird of prey
Die Situation sieht nicht besonders rosig aus,trotzallem habe ich vorsichtig begonnen, NEWP einzusammeln.Langfristig betrachte ich NEWP als ein Topwert,die optischen Technologien werden ein zukünftiger Börsentrend sein.
Grüsse,
Bird of prey
Hi !
Werde auch diese Woche Newport kaufen,mal sehen zu welchem Kurs
Gruß panik
Werde auch diese Woche Newport kaufen,mal sehen zu welchem Kurs
Gruß panik
Nicht zu faßen! Newport wurde grade abgestuft mit Kursziel 27$!
RESEARCH ALERT-Robertson Stephens cuts Newport
NEW YORK, June 21 (Reuters) - Robertson Stephens said on Thursday it had cut its rating on Newport Corp. (NasdaqNM:NEWP - news), which makes products used for assembling and testing fiber-optics and semiconductors, to market perform from buy.
It also lowered its earnings per share estimate for 2001 to $1.11 a share from $1.36, and for 2002 to $1.15 from $1.48.
It forecast 2001 revenues of $340.7 million and 2002 revenues of $356.0 million.
``We believe the weak outlook for the optical communications industry poses risks to near-term estimates of the optical component manufacturing equipment suppliers, reflecting the effect of lower carrier spending,`` the investment bank said in a research note.
Shares of Newport closed at $22.91 on Nasdaq on Wednesday.
NEW YORK, June 21 (Reuters) - Robertson Stephens said on Thursday it had cut its rating on Newport Corp. (NasdaqNM:NEWP - news), which makes products used for assembling and testing fiber-optics and semiconductors, to market perform from buy.
It also lowered its earnings per share estimate for 2001 to $1.11 a share from $1.36, and for 2002 to $1.15 from $1.48.
It forecast 2001 revenues of $340.7 million and 2002 revenues of $356.0 million.
``We believe the weak outlook for the optical communications industry poses risks to near-term estimates of the optical component manufacturing equipment suppliers, reflecting the effect of lower carrier spending,`` the investment bank said in a research note.
Shares of Newport closed at $22.91 on Nasdaq on Wednesday.
Unter 25 bis 10 sammle ich ein;darunter MUSS man mit Verlust verkaufen.Wenn der Wert nicht unten 10 fällt,es ist für mich persönlich alles ok.Jahrelang Wartezeit.Gute Produktpallete,keine bedrohliche finanzielle Lage.
Grüsse,
Bird of prey
Grüsse,
Bird of prey
Haleos and Newport Announce Strategic Alliance
BLACKSBURG, Va. & IRVINE, Calif.--(BUSINESS WIRE)--July 3, 2001-- Haleos Inc., The New ACT MicroDevices, and Newport Corp. today announced that they have formed a strategic alliance for the joint development of next-generation fiber optics and photonics manufacturing automation equipment.
``The combination of Newport`s automation expertise and our engineering innovation provides a powerful vehicle for customizing and enhancing both existing and new automation solutions,`` said David Sherrer, Haleos` president and chief executive officer. ``Our technologies, including our Silicon Optical Bench (SiOB) platform, lend themselves to scalable automated manufacturing and even quality testing. This alliance with Newport will allow us to take advantage of the latest automation solutions for high volume manufacturing.``
Robert G. Deuster, chairman, president and chief executive officer of Newport, said, ``Today we joined forces with Haleos, a company we believe to be an innovative supplier of fiber optic components and next generation optical solutions. In doing so, Newport solidified a relationship that provides us with unique and upfront access to the manufacturing and automation needs of optics companies seeking commercially viable automation solutions.``
The alliance includes direct research and design, testing, and in-house trial use by Haleos of Newport automation solutions and the collaborative development of new solutions.
``Proven cost-effective solutions are increasingly required to accelerate time to market, raise performance, increase throughput and enable market leaders to respond quickly to changing market needs,`` Deuster said. ``Through our joint efforts, we will significantly continue to expand core automation competencies.``
Sherrer added: ``As a manufacturer of a broad range of components, our internal automation needs have evolved faster than the general marketplace. We believe that this partnership with Newport will enable us to more quickly realize new automation solutions that are specific to our manufacturing needs, and will enable us to focus more of our efforts on our core manufacturing business, rather than on equipment development.``
Deuster added: ``Our customers are seeking lower costs and higher productivity, performance and quality. The key to their achievement of these goals is increased automation. With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant.``
About Haleos
Haleos Inc., The New ACT MicroDevices, is a rapidly growing, privately-held 200-employee fiber optics and photonics company headquartered in Blacksburg. Haleos is a leading designer, developer and manufacturer of advanced wafer-level microphotonic components, optical interconnects and component integration solutions that enable next generation optical networks.
The company is developing proprietary next generation technologies and integrating them with current products, to significantly change the economics and performance of optical components and systems.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
Forward-Looking Statements
This news release contains forward-looking statements, including specifically, statements made by Robert G. Deuster and David Sherrer that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L (for Newport Corp.)
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
or
Haleos Inc., Blacksburg
Tom Zuckerwar, 540/552-4610
540/392-6819 (cell)
tzuckerwar@haleos.com
BLACKSBURG, Va. & IRVINE, Calif.--(BUSINESS WIRE)--July 3, 2001-- Haleos Inc., The New ACT MicroDevices, and Newport Corp. today announced that they have formed a strategic alliance for the joint development of next-generation fiber optics and photonics manufacturing automation equipment.
``The combination of Newport`s automation expertise and our engineering innovation provides a powerful vehicle for customizing and enhancing both existing and new automation solutions,`` said David Sherrer, Haleos` president and chief executive officer. ``Our technologies, including our Silicon Optical Bench (SiOB) platform, lend themselves to scalable automated manufacturing and even quality testing. This alliance with Newport will allow us to take advantage of the latest automation solutions for high volume manufacturing.``
Robert G. Deuster, chairman, president and chief executive officer of Newport, said, ``Today we joined forces with Haleos, a company we believe to be an innovative supplier of fiber optic components and next generation optical solutions. In doing so, Newport solidified a relationship that provides us with unique and upfront access to the manufacturing and automation needs of optics companies seeking commercially viable automation solutions.``
The alliance includes direct research and design, testing, and in-house trial use by Haleos of Newport automation solutions and the collaborative development of new solutions.
``Proven cost-effective solutions are increasingly required to accelerate time to market, raise performance, increase throughput and enable market leaders to respond quickly to changing market needs,`` Deuster said. ``Through our joint efforts, we will significantly continue to expand core automation competencies.``
Sherrer added: ``As a manufacturer of a broad range of components, our internal automation needs have evolved faster than the general marketplace. We believe that this partnership with Newport will enable us to more quickly realize new automation solutions that are specific to our manufacturing needs, and will enable us to focus more of our efforts on our core manufacturing business, rather than on equipment development.``
Deuster added: ``Our customers are seeking lower costs and higher productivity, performance and quality. The key to their achievement of these goals is increased automation. With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant.``
About Haleos
Haleos Inc., The New ACT MicroDevices, is a rapidly growing, privately-held 200-employee fiber optics and photonics company headquartered in Blacksburg. Haleos is a leading designer, developer and manufacturer of advanced wafer-level microphotonic components, optical interconnects and component integration solutions that enable next generation optical networks.
The company is developing proprietary next generation technologies and integrating them with current products, to significantly change the economics and performance of optical components and systems.
About Newport Corp.
Newport Corp. is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
Forward-Looking Statements
This news release contains forward-looking statements, including specifically, statements made by Robert G. Deuster and David Sherrer that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corp., Irvine
Charles F. Cargile, 949/253-1273
investor@newport.com
www.newport.com
or
PondelWilkinson MS&L (for Newport Corp.)
Cecilia A. Wilkinson/E.E. Wang, 310/207-9300
investor@pondel.com
or
Haleos Inc., Blacksburg
Tom Zuckerwar, 540/552-4610
540/392-6819 (cell)
tzuckerwar@haleos.com
Pacific Growth Equities Morning Call Summary for July 3, 2001
07/03/01 07:45 AM
Source: Pacific Growth Equities
San Francisco, CA ¨C July 3, 2001 ¨C Pacific Growth Equities, a research driven investment bank specializing in emerging growth companies, today reported the following from their morning call meeting:
Newport Corp. (NEWP)
Price: $27.84
Strong Buy
F01E: $1.19
F02E: $1.42
Joe Noel, Telecommunications
¡°After last quarter¡¯s earnings conference call, management indicated that guidance for future periods included recent order push outs. Revenue guidance for the June quarter was in the $95 to $100 million range and year ending 2001 guidance was for sales in the range of $365 to $375 million. It is our belief that these estimates are too aggressive due to continued weakness in the optical and semiconductor sectors, as a result we are lowering our forecasts for future periods. Our Q2:01 revenue estimate moves from $97.4 million and $0.35 EPS to $93.0 million and $0.31 EPS. Our year-end 2001 estimate moves from $382 million and $1.41 to $357 million and $1.19 EPS. For YE:02 we are lowering our estimates from $463.0 million and $1.75 EPS to $425.0 million and $1.42 EPS. We are conservatively projecting growth for the full year at approximately 20%. We have also slightly lowered our gross margins and reduced interest income by over $2 million as we believe negative projected cash flow will continue to impact cash levels over the next two or three quarters. Our EPS estimate for YE:02 is reduced from $1.75 to $1.42. We continue to believe that Newport Corporation is an outstanding way to play the optical communications sector while reducing the risk associated with the pure plays in the optical components and systems areas. In many ways the recent problems in the sector play into NEWP¡¯s hands because as profits have fallen at optical component and systems companies, the organizations now have a pressing need to reduce costs in order to show earnings growth. While it is often said that a problem is really an opportunity in disguise, we do not believe this pertains to most of the companies that compete in Newport¡¯s markets. However relative to Newport, the issues within the sector may offer opportunities for the Company to maintain growth due to its strong offerings and factory automation. In addition, the Company possesses several strong product lines that pertain to the 300mm market, which we believe will be a competitive advantage over the coming year. We reiterate our Strong Buy rating and our reiteration is based more on our belief that this Company possesses the right mix of management, products, technical ability and targeted marketing than on traditional valuation methodology.¡±
07/03/01 07:45 AM
Source: Pacific Growth Equities
San Francisco, CA ¨C July 3, 2001 ¨C Pacific Growth Equities, a research driven investment bank specializing in emerging growth companies, today reported the following from their morning call meeting:
Newport Corp. (NEWP)
Price: $27.84
Strong Buy
F01E: $1.19
F02E: $1.42
Joe Noel, Telecommunications
¡°After last quarter¡¯s earnings conference call, management indicated that guidance for future periods included recent order push outs. Revenue guidance for the June quarter was in the $95 to $100 million range and year ending 2001 guidance was for sales in the range of $365 to $375 million. It is our belief that these estimates are too aggressive due to continued weakness in the optical and semiconductor sectors, as a result we are lowering our forecasts for future periods. Our Q2:01 revenue estimate moves from $97.4 million and $0.35 EPS to $93.0 million and $0.31 EPS. Our year-end 2001 estimate moves from $382 million and $1.41 to $357 million and $1.19 EPS. For YE:02 we are lowering our estimates from $463.0 million and $1.75 EPS to $425.0 million and $1.42 EPS. We are conservatively projecting growth for the full year at approximately 20%. We have also slightly lowered our gross margins and reduced interest income by over $2 million as we believe negative projected cash flow will continue to impact cash levels over the next two or three quarters. Our EPS estimate for YE:02 is reduced from $1.75 to $1.42. We continue to believe that Newport Corporation is an outstanding way to play the optical communications sector while reducing the risk associated with the pure plays in the optical components and systems areas. In many ways the recent problems in the sector play into NEWP¡¯s hands because as profits have fallen at optical component and systems companies, the organizations now have a pressing need to reduce costs in order to show earnings growth. While it is often said that a problem is really an opportunity in disguise, we do not believe this pertains to most of the companies that compete in Newport¡¯s markets. However relative to Newport, the issues within the sector may offer opportunities for the Company to maintain growth due to its strong offerings and factory automation. In addition, the Company possesses several strong product lines that pertain to the 300mm market, which we believe will be a competitive advantage over the coming year. We reiterate our Strong Buy rating and our reiteration is based more on our belief that this Company possesses the right mix of management, products, technical ability and targeted marketing than on traditional valuation methodology.¡±
Newport Corp. Granted Patent on Core Technology to Enhance Semiconductor Equipment Manufacturing
Two Other Patents Pending
Technology Increases Yields and Throughput
IRVINE, Calif.--(BUSINESS WIRE)--July 5, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that it has been issued a U.S. patent that extends its leadership in next-generation technology in the fabrication of semiconductor equipment products.
Newport`s U.S. Patent No. 6,256,555, for a 300mm edge-grip robotic end effector apparatus, allows semiconductor manufacturers to reliably handle 300mm wafers by only their edges during fabrication and testing. This new tool ensures a simpler, more reliable and faster manufacturing process with a significantly reduced possibility of wafer or cassette contamination. Newport`s leadership position in supplying automation technology to semiconductor equipment manufacturers is also supported by several other patents that are pending for related technology, including a patent involving a ``self-teaching`` robot to ensure accurate alignment during wafer handling.
``These innovations are designed to improve yields and lower our customers` total cost of ownership, and are examples of the advanced technology we have added to our portfolio through our recent merger with Kensington laboratories,`` said Robert Deuster, chairman and chief executive officer. ``The inventions help semiconductor equipment manufacturers minimize wafer mishandling, especially as they move to larger 300mm wafer sizes, and to increase the speed and throughput of their systems.
``With this new technology, Newport takes another step forward in supporting our customers` efforts to improve cycle times and reduce costs,`` Deuster said.
Paul Bacchi, co-inventor and general manager of Newport-Kensington, noted that work on the edge-grip patent began in 1997 at Kensington Laboratories, and resulted in several patent applications. Since then, more than 1,000 wafer-handling robots with edge-grip technology have been shipped.
``With more than 1,000 units in the field, the technology has been an overwhelming commercial success,`` Bacchi said. ``The issuance of the first edge-grip patent in the semiconductor industry recognizes and protects this important Newport technology and assures technical leadership in this area. We anticipate that additional patents will issue shortly.``
Newport`s patented edge-grip technology:
Supports safe and quick operational performance;
Lowers initial manufacturing costs, increases ``uptime`` with fewer repairs and lower maintenance; and
Promotes wafer safety, even in total power failure during the manufacturing process.
``The end effector works by lifting and pulling the wafer back slightly before gripping, ensuring no contact between the wafer and the cassette,`` Bacchi said. ``This is a significant benefit and a unique process compared with other 300mm wafer-handling methods because the others have to push the wafer first, and risk hitting the cassette.``
Commenting on the ``self-teach`` robotic system, Bacchi said: ``Several patents have been allowed that support our self-teaching robotic system. This technology allows the robotic system to determine whether a misalignment exists between the cassette and the wafer, which, in turn, enables rapid, reliable operation even if the wafer is not in the correct position. To enable the self-teaching capability, the end effectors in Newport 300mm robots are uniquely equipped with a fiber optic sensor that ``sees`` the location of the wafer.
``The result for the customer is increased yield and throughput since the system operates reliably at full speed, even when misalignments exist. It also minimizes mean time to repair and reduces cost of ownership by automating the robot-teaching process, making it a quantitative process supported by the self-teaching capability of the robot instead of a qualitative process dependent on the skill of the installing engineer or technician.
``The self-teach technology puts an automation expert in the system itself, and allows semiconductor wafer equipment to be brought online in less time, and to operate reliably at higher throughput rates. This versatile technology can be deployed into a wide range of systems, including those which operate with or without pre-aligners,`` Bacchi said.
Two Other Patents Pending
Technology Increases Yields and Throughput
IRVINE, Calif.--(BUSINESS WIRE)--July 5, 2001--Newport Corp. (Nasdaq:NEWP - news) today announced that it has been issued a U.S. patent that extends its leadership in next-generation technology in the fabrication of semiconductor equipment products.
Newport`s U.S. Patent No. 6,256,555, for a 300mm edge-grip robotic end effector apparatus, allows semiconductor manufacturers to reliably handle 300mm wafers by only their edges during fabrication and testing. This new tool ensures a simpler, more reliable and faster manufacturing process with a significantly reduced possibility of wafer or cassette contamination. Newport`s leadership position in supplying automation technology to semiconductor equipment manufacturers is also supported by several other patents that are pending for related technology, including a patent involving a ``self-teaching`` robot to ensure accurate alignment during wafer handling.
``These innovations are designed to improve yields and lower our customers` total cost of ownership, and are examples of the advanced technology we have added to our portfolio through our recent merger with Kensington laboratories,`` said Robert Deuster, chairman and chief executive officer. ``The inventions help semiconductor equipment manufacturers minimize wafer mishandling, especially as they move to larger 300mm wafer sizes, and to increase the speed and throughput of their systems.
``With this new technology, Newport takes another step forward in supporting our customers` efforts to improve cycle times and reduce costs,`` Deuster said.
Paul Bacchi, co-inventor and general manager of Newport-Kensington, noted that work on the edge-grip patent began in 1997 at Kensington Laboratories, and resulted in several patent applications. Since then, more than 1,000 wafer-handling robots with edge-grip technology have been shipped.
``With more than 1,000 units in the field, the technology has been an overwhelming commercial success,`` Bacchi said. ``The issuance of the first edge-grip patent in the semiconductor industry recognizes and protects this important Newport technology and assures technical leadership in this area. We anticipate that additional patents will issue shortly.``
Newport`s patented edge-grip technology:
Supports safe and quick operational performance;
Lowers initial manufacturing costs, increases ``uptime`` with fewer repairs and lower maintenance; and
Promotes wafer safety, even in total power failure during the manufacturing process.
``The end effector works by lifting and pulling the wafer back slightly before gripping, ensuring no contact between the wafer and the cassette,`` Bacchi said. ``This is a significant benefit and a unique process compared with other 300mm wafer-handling methods because the others have to push the wafer first, and risk hitting the cassette.``
Commenting on the ``self-teach`` robotic system, Bacchi said: ``Several patents have been allowed that support our self-teaching robotic system. This technology allows the robotic system to determine whether a misalignment exists between the cassette and the wafer, which, in turn, enables rapid, reliable operation even if the wafer is not in the correct position. To enable the self-teaching capability, the end effectors in Newport 300mm robots are uniquely equipped with a fiber optic sensor that ``sees`` the location of the wafer.
``The result for the customer is increased yield and throughput since the system operates reliably at full speed, even when misalignments exist. It also minimizes mean time to repair and reduces cost of ownership by automating the robot-teaching process, making it a quantitative process supported by the self-teaching capability of the robot instead of a qualitative process dependent on the skill of the installing engineer or technician.
``The self-teach technology puts an automation expert in the system itself, and allows semiconductor wafer equipment to be brought online in less time, and to operate reliably at higher throughput rates. This versatile technology can be deployed into a wide range of systems, including those which operate with or without pre-aligners,`` Bacchi said.
Newport says to match Q2 estimates, cut jobs
IRVINE, Calif., July 9 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which makes products for testing and assembling fiber-optics and semiconductors, on Monday affirmed its second-quarter outlook but trimmed jobs and said it expects to take a charge as it reduces costs.
Newport said it expects to match earlier forecasts of $95 million to $100 million in second-quarter revenue and to meet consensus earnings estimates of 32 cents per share.
But the company said the steep downturn in orders had forced it to reduce its staff by about 10 percent, or 180 to 200 jobs. Newport expects to take a third-quarter charge of $1 million to $1.5 million related to employee severance. It also sees a separate charge of $6 million to $10 million in the third quarter mainly due to inventory write-down expenses.
Looking ahead, the company said it expects to report full-year 2001 earnings of $1.10 to $1.15 per share, excluding charges, and revenues of $350 million to $360 million.
Its shares closed up 37 cents, or 1.6 percent, at $24.05 at the end of Monday trading on the Nasdaq
IRVINE, Calif., July 9 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which makes products for testing and assembling fiber-optics and semiconductors, on Monday affirmed its second-quarter outlook but trimmed jobs and said it expects to take a charge as it reduces costs.
Newport said it expects to match earlier forecasts of $95 million to $100 million in second-quarter revenue and to meet consensus earnings estimates of 32 cents per share.
But the company said the steep downturn in orders had forced it to reduce its staff by about 10 percent, or 180 to 200 jobs. Newport expects to take a third-quarter charge of $1 million to $1.5 million related to employee severance. It also sees a separate charge of $6 million to $10 million in the third quarter mainly due to inventory write-down expenses.
Looking ahead, the company said it expects to report full-year 2001 earnings of $1.10 to $1.15 per share, excluding charges, and revenues of $350 million to $360 million.
Its shares closed up 37 cents, or 1.6 percent, at $24.05 at the end of Monday trading on the Nasdaq
Hi Panik!
NEWP aufgestockt(unter 25 $ kaufe ich in Raten zu).
Was denkst Du über DYN und APWR,bitte?
Grüsse,
Bird of prey
NEWP aufgestockt(unter 25 $ kaufe ich in Raten zu).
Was denkst Du über DYN und APWR,bitte?
Grüsse,
Bird of prey
@Traubvogel
Kennst du das noch? Welche dieser Werte hast du noch?
Ich habe heute BMP verkauft,800 St. für 4,10 €/St.
Jetzt habe ich in meinem Depot nur 4 Werte :
1)GAZPROM(903276)- 3200 St.zu 7,4 € aktuell 8,25 EURO
2)OPTICOM(907857)- 700 St. 12,4 akt. 158 EURO
3)NANOGEN(911841)- 1000 St. 7,80 akt. 16 EURO
4)Fast Search and
Transfer(914736) 875 St.(gratis) aktuell 9 US$(nur OTC-gehandelt).
CASH = 3200 EURO.
Kennst du das noch? Welche dieser Werte hast du noch?
Ich habe heute BMP verkauft,800 St. für 4,10 €/St.
Jetzt habe ich in meinem Depot nur 4 Werte :
1)GAZPROM(903276)- 3200 St.zu 7,4 € aktuell 8,25 EURO
2)OPTICOM(907857)- 700 St. 12,4 akt. 158 EURO
3)NANOGEN(911841)- 1000 St. 7,80 akt. 16 EURO
4)Fast Search and
Transfer(914736) 875 St.(gratis) aktuell 9 US$(nur OTC-gehandelt).
CASH = 3200 EURO.
Hi herbertraubvogel
dna ist gut aber mir zu persönlich eine zu hohe Marktkap.
nichts für mich mag eher small oder middle caps
apwr finde ich gut,leider den Einstieg verpaßt
Bin morgen gespannt über die Zahlen von NEWP
Gruß panik
dna ist gut aber mir zu persönlich eine zu hohe Marktkap.
nichts für mich mag eher small oder middle caps
apwr finde ich gut,leider den Einstieg verpaßt
Bin morgen gespannt über die Zahlen von NEWP
Gruß panik
p.s.
Digl hat eben gute Zahlen gebracht
dürfte Newp helfen
Gruß panik
Digl hat eben gute Zahlen gebracht
dürfte Newp helfen
Gruß panik
Newport profits rise 36 pct
IRVINE, Calif., July 18 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which makes products for testing and assembling fiber-optic and semiconductors, on Wednesday said profits rose about 36 percent, meeting estimates, but added a steep downturn in orders would force to take charges as it reduces costs.
The Irvine, California-based company said it earned $12.1 million, or 32 cents per share, in the second quarter, compared with $8.9 million, or 26 cents per share in the year-ago quarter.
Analyst had on average expected the company between 30 and 33 cents, with a mean of 32, according to Wall Street research firm Thomson Financial/First Call.
Looking ahead to the third quarter, the company said it sees posting charges of $1 million to $1.5 million for severance costs, and $6 million to $10 million for asset write-downs.
Newport`s shares closed off 9.4 percent at $21.98. Shares are trading at a fraction of their 52-week highs of $192.06.
IRVINE, Calif., July 18 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which makes products for testing and assembling fiber-optic and semiconductors, on Wednesday said profits rose about 36 percent, meeting estimates, but added a steep downturn in orders would force to take charges as it reduces costs.
The Irvine, California-based company said it earned $12.1 million, or 32 cents per share, in the second quarter, compared with $8.9 million, or 26 cents per share in the year-ago quarter.
Analyst had on average expected the company between 30 and 33 cents, with a mean of 32, according to Wall Street research firm Thomson Financial/First Call.
Looking ahead to the third quarter, the company said it sees posting charges of $1 million to $1.5 million for severance costs, and $6 million to $10 million for asset write-downs.
Newport`s shares closed off 9.4 percent at $21.98. Shares are trading at a fraction of their 52-week highs of $192.06.
von panik 17.07.01 22:51:36 3990770 NEWPORT CORP.
p.s.
Digl hat eben gute Zahlen gebracht
wie gut die zahlen sind hat heute der markt entschieden 6 dollar minus
newport hatte ich mal 1999 bei 9 $ gekauft, diese zahl
will ich gerne nochmal sehen.
wie ich sie verkauft habe sage ich dir nicht, aber in fruehren post stehts, heute wuerdest du davon verklaerte augen kriegen.
gruss dosto
fiber hat noch zeit, es wird dauern, laenger als ihr jemals glaubt.
ihr habt ja auch nicht geglaubt das man sich davon verabschieden muss, so anfang bis mitte letztes jahres.
die rechnung gabs dafuer.
wohlgemerkt bin ich kein fiber hasser-eher realist.
einer der ganz wenigen, dies in dieser sparte gab.
p.s.
Digl hat eben gute Zahlen gebracht
wie gut die zahlen sind hat heute der markt entschieden 6 dollar minus
newport hatte ich mal 1999 bei 9 $ gekauft, diese zahl
will ich gerne nochmal sehen.
wie ich sie verkauft habe sage ich dir nicht, aber in fruehren post stehts, heute wuerdest du davon verklaerte augen kriegen.
gruss dosto
fiber hat noch zeit, es wird dauern, laenger als ihr jemals glaubt.
ihr habt ja auch nicht geglaubt das man sich davon verabschieden muss, so anfang bis mitte letztes jahres.
die rechnung gabs dafuer.
wohlgemerkt bin ich kein fiber hasser-eher realist.
einer der ganz wenigen, dies in dieser sparte gab.
DOSTO!träum mal weiter!
digl ist deshalb gefallen weil sie abgestuft wurden!
und newp zu 9$?
träum mal weiter mein lieber!
um die 20$ klarer kauf!
ciena!
p.s.ein bischen weniger aroganz wäre angebracht!dosto
NEWP nach den Zahlen klarer Kauf!!
KGV von 25!
KGV von 25!
Newport Corporation to Present at Robertson Stephens Optical Communications Conference
IRVINE, Calif., July 20, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make a presentation to the investment community on Tuesday, July 24, at 3:30 p.m. at the Robertson Stephens Optical Communications Conference at the Ritz Carlton Hotel in San Francisco.
During the conference, Deuster and Cargile will review the company`s operations and financial performance, and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets.
Interested investors can access a live Web cast of the company`s presentation via Newport`s Web site at www.newport.com. The company also will post a copy of the PowerPoint presentation made at the conference on the company`s Web site the day of the conference.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The Company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson/Mike Pollock
310.207.9300
investor@pondel.com
IRVINE, Calif., July 20, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will make a presentation to the investment community on Tuesday, July 24, at 3:30 p.m. at the Robertson Stephens Optical Communications Conference at the Ritz Carlton Hotel in San Francisco.
During the conference, Deuster and Cargile will review the company`s operations and financial performance, and discuss its position as a leading provider of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets.
Interested investors can access a live Web cast of the company`s presentation via Newport`s Web site at www.newport.com. The company also will post a copy of the PowerPoint presentation made at the conference on the company`s Web site the day of the conference.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The Company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson/Mike Pollock
310.207.9300
investor@pondel.com
Newport in Openwave getauscht. Openwave hat wenigstens Wachstumphantasie, bei Newport schmelzen die Dollars nur so hinweg. Keine Lebenszeichen. Erwartetes NEWP-Gewinnwachstum für nächstes Jahr nur 5-6%. Lasst die Finger lieber davon.
Wieso schmelzen die Dollars nur so dahin?
Ich denke die machen gute Gewinne, habe mich nochmals bei Yahoo.com informiert.
Dass der Kurs nicht viel macht finde ich schon etwas komisch.
Panik, was hälst du von NEWP????
Danke
Ich denke die machen gute Gewinne, habe mich nochmals bei Yahoo.com informiert.
Dass der Kurs nicht viel macht finde ich schon etwas komisch.
Panik, was hälst du von NEWP????
Danke
matthiasch
Das Problem ist,alles was mit Fibers zu tun hat ist out!
Ansonsten ist Newp top,wie gesagt machen Gewinne
aber die Branche ist im Moment nicht sexy
Gruß panik
Das Problem ist,alles was mit Fibers zu tun hat ist out!
Ansonsten ist Newp top,wie gesagt machen Gewinne
aber die Branche ist im Moment nicht sexy
Gruß panik
Dain Rauscher Wessels Announces Investment Opinion On Applied Materials, KLA-Tencor Corp., Lam Research Corp., Newport Corp., Novellus Systems Inc. and Veeco Instruments
Dain Rauscher Wessels Expands Semiconductor Manufacturing Technologies Coverage; Initiates Ratings On Six Companies
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 21, 2001-- Dain Rauscher Wessels equity analyst Harold J. Mellen, III today introduced coverage of the following six companies:
Newport Corp. (Nasdaq:NEWP - news), $18.37, with a Buy-Speculative Risk rating and a 12-month price target of $25.
Veeco Instruments (Nasdaq:VECO - news), $35.05, with a Buy-Speculative Risk rating and a 12-month price target of $42.
Applied Materials (Nasdaq:AMAT - news), $43.24, with a Neutral rating.
KLA-Tencor Corp. (Nasdaq:KLAC - news), $48.71, with a Neutral rating.
Lam Research Corp. (Nasdaq:LRCX - news), $27.38, with a Neutral rating.
Novellus Systems Inc. (Nasdaq:NVLS - news), $46.18, with a Neutral rating.
``Institutional investors may want to consider limiting their exposure to this sector until either the fundamentals improve and justify current valuations, or the valuations contract to historic trough levels and justify investment,`` said Mellen. ``The long-term viability of this sector is not in question, quite the opposite, but valuations should reflect the current state of the business and be inextricably linked to fundamentals.``
Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving a research report should call (612) 371-2239.
Dain Rauscher Wessels, a division of Dain Rauscher Incorporated, includes equity research, equity trading, institutional equity sales and corporate finance. The division`s 45 analysts focus on five industries: consumer, energy, financial services, health care and technology. Currently, the analysts follow nearly 500 companies. The division, which employs 450 people, has offices in Atlanta; Austin, Texas; Boston; Chicago; Dallas; Houston; Memphis, Tenn.; Menlo Park, Calif.; Minneapolis; New York City; Paris; San Francisco; and Tel Aviv, Israel(a).
Dain Rauscher Corporation, a wholly owned subsidiary of Royal Bank of Canada (NYSE: RY - news), is one of the nation`s largest full-service securities firms with 1,130 investment executives and 4,150 employees. The company`s broker-dealer, Dain Rauscher Incorporated, serves individual investors and small business owners through offices located predominantly in the western half of the United States, and capital markets and correspondent clients in select U.S. and international markets. Founded in 1909, Dain Rauscher Incorporated is a member of the New York Stock Exchange and other major securities exchanges, as well as the Securities Investor Protection Corp. The company`s headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in Minneapolis.
Dain Rauscher Incorporated makes a market in Applied Materials, KLA-Tencor Corp., Lam Research Corp., Newport Corp., Novellus Systems Inc. and Veeco Instruments and may act as principal with regard to sales or purchases of this security.
Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI, its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
(a)Strategic alliance with Tamir Fishman & Co.
--------------------------------------------------------------------------------
Contact:
Dain Rauscher, Minneapolis
Branden Happel, 612/371-2239
bhappel@dainrauscher.com
Dain Rauscher Wessels Expands Semiconductor Manufacturing Technologies Coverage; Initiates Ratings On Six Companies
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 21, 2001-- Dain Rauscher Wessels equity analyst Harold J. Mellen, III today introduced coverage of the following six companies:
Newport Corp. (Nasdaq:NEWP - news), $18.37, with a Buy-Speculative Risk rating and a 12-month price target of $25.
Veeco Instruments (Nasdaq:VECO - news), $35.05, with a Buy-Speculative Risk rating and a 12-month price target of $42.
Applied Materials (Nasdaq:AMAT - news), $43.24, with a Neutral rating.
KLA-Tencor Corp. (Nasdaq:KLAC - news), $48.71, with a Neutral rating.
Lam Research Corp. (Nasdaq:LRCX - news), $27.38, with a Neutral rating.
Novellus Systems Inc. (Nasdaq:NVLS - news), $46.18, with a Neutral rating.
``Institutional investors may want to consider limiting their exposure to this sector until either the fundamentals improve and justify current valuations, or the valuations contract to historic trough levels and justify investment,`` said Mellen. ``The long-term viability of this sector is not in question, quite the opposite, but valuations should reflect the current state of the business and be inextricably linked to fundamentals.``
Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving a research report should call (612) 371-2239.
Dain Rauscher Wessels, a division of Dain Rauscher Incorporated, includes equity research, equity trading, institutional equity sales and corporate finance. The division`s 45 analysts focus on five industries: consumer, energy, financial services, health care and technology. Currently, the analysts follow nearly 500 companies. The division, which employs 450 people, has offices in Atlanta; Austin, Texas; Boston; Chicago; Dallas; Houston; Memphis, Tenn.; Menlo Park, Calif.; Minneapolis; New York City; Paris; San Francisco; and Tel Aviv, Israel(a).
Dain Rauscher Corporation, a wholly owned subsidiary of Royal Bank of Canada (NYSE: RY - news), is one of the nation`s largest full-service securities firms with 1,130 investment executives and 4,150 employees. The company`s broker-dealer, Dain Rauscher Incorporated, serves individual investors and small business owners through offices located predominantly in the western half of the United States, and capital markets and correspondent clients in select U.S. and international markets. Founded in 1909, Dain Rauscher Incorporated is a member of the New York Stock Exchange and other major securities exchanges, as well as the Securities Investor Protection Corp. The company`s headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in Minneapolis.
Dain Rauscher Incorporated makes a market in Applied Materials, KLA-Tencor Corp., Lam Research Corp., Newport Corp., Novellus Systems Inc. and Veeco Instruments and may act as principal with regard to sales or purchases of this security.
Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI, its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
(a)Strategic alliance with Tamir Fishman & Co.
--------------------------------------------------------------------------------
Contact:
Dain Rauscher, Minneapolis
Branden Happel, 612/371-2239
bhappel@dainrauscher.com
Newport Corporation Granted Second Patent on Core Technology to Enhance Semiconductor Equipment Manufacturing; Other Patent Applications Pending; Technology Increases System Yields and Throughput
IRVINE, Calif., Aug. 28, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that it has been issued its second U.S. patent in a series of patent applications that extend the company`s leadership in next-generation technology in the fabrication of semiconductor equipment products.
Newport`s U.S. Patent No. 6,275,748, covering improvements in 300 millimeter edge-grip robotic end effectors, includes technology that allows semiconductor equipment manufacturers to efficiently and reliably handle 300 millimeter wafers during fabrication and testing. The patent strengthens and deepens Newport`s protection of its intellectual properties in this field and represents one of several relating to the technology of providing edge grip mechanisms for use in the semiconductor equipment industry.
The new system utilizes improved failsafe design features, which further minimize the potential for wafer mishandling, virtually eliminating wafer damage and particulate generation in the process of gripping and transferring the wafer from the cassette to the fabrication or metrology areas of the tools.
Newport`s patented edge-grip technology:
-- Supports reliable, efficient, high throughput operational
performance;
-- Lowers initial manufacturing costs, increases "uptime" with fewer
repairs and lower maintenance; and
-- Promotes wafer safety, even in events of total power failure
during the manufacturing process.
``Newport is committed to providing systems designed to improve yields, increase throughput and lower our customers` total cost of ownership,`` said Robert G. Deuster, chairman and chief executive officer. ``This patent is another example of the advanced automation technologies added to our portfolio through the merger with Kensington Laboratories.``
Newport`s leadership position in supplying advanced automation technology to semiconductor equipment manufacturers is also supported by several other patent applications that are pending for related technologies.
``This invention continues to build on our broad range of technologies used to enable semiconductor equipment manufacturers to increase their system yields by minimizing the potential for wafer mishandling damage and eliminating back side contamination problems,`` said Paul Bacchi, co-inventor and general manager of Newport`s operations in Richmond, California. ``The importance of this technology becomes more critical as the industry moves toward sub 0.15 micrometer features and larger diameter 300 millimeter wafers.``
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
This news release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 2000, and its subsequent Securities and Exchange Commission reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic conditions, the ability of the company to obtain patents on its technology, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson, Mike Pollock
(310) 207-9300
investor@pondel.com
SOURCE: Newport Corporation
IRVINE, Calif., Aug. 28, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that it has been issued its second U.S. patent in a series of patent applications that extend the company`s leadership in next-generation technology in the fabrication of semiconductor equipment products.
Newport`s U.S. Patent No. 6,275,748, covering improvements in 300 millimeter edge-grip robotic end effectors, includes technology that allows semiconductor equipment manufacturers to efficiently and reliably handle 300 millimeter wafers during fabrication and testing. The patent strengthens and deepens Newport`s protection of its intellectual properties in this field and represents one of several relating to the technology of providing edge grip mechanisms for use in the semiconductor equipment industry.
The new system utilizes improved failsafe design features, which further minimize the potential for wafer mishandling, virtually eliminating wafer damage and particulate generation in the process of gripping and transferring the wafer from the cassette to the fabrication or metrology areas of the tools.
Newport`s patented edge-grip technology:
-- Supports reliable, efficient, high throughput operational
performance;
-- Lowers initial manufacturing costs, increases "uptime" with fewer
repairs and lower maintenance; and
-- Promotes wafer safety, even in events of total power failure
during the manufacturing process.
``Newport is committed to providing systems designed to improve yields, increase throughput and lower our customers` total cost of ownership,`` said Robert G. Deuster, chairman and chief executive officer. ``This patent is another example of the advanced automation technologies added to our portfolio through the merger with Kensington Laboratories.``
Newport`s leadership position in supplying advanced automation technology to semiconductor equipment manufacturers is also supported by several other patent applications that are pending for related technologies.
``This invention continues to build on our broad range of technologies used to enable semiconductor equipment manufacturers to increase their system yields by minimizing the potential for wafer mishandling damage and eliminating back side contamination problems,`` said Paul Bacchi, co-inventor and general manager of Newport`s operations in Richmond, California. ``The importance of this technology becomes more critical as the industry moves toward sub 0.15 micrometer features and larger diameter 300 millimeter wafers.``
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Russell 1000 Index and on March 1, 2001, was added to Standard & Poor`s Midcap 400 Index.
This news release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended Dec. 31, 2000, and its subsequent Securities and Exchange Commission reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic conditions, the ability of the company to obtain patents on its technology, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson, Mike Pollock
(310) 207-9300
investor@pondel.com
SOURCE: Newport Corporation
Aho Matthiasch!
Bitte um Verzeihung,bin gerade aus einem langen und schönen Urlaub in Osteuropa zurückgekehrt.
GAZPROM,OPTICOM,NANOGEN,FAST SEARCH habe ich noch im Depot,GAZPROM stark Mitte Februar 2001 übergewichtet.
Ab und zu kaufe jetzt NEWPORT.
(Eine andere Neuausrichtung bei mir sind rumänische Aktien,kaufe direkt in Transsilvanien)
Schöne Grüsse,
Herbertraubvogel
Bitte um Verzeihung,bin gerade aus einem langen und schönen Urlaub in Osteuropa zurückgekehrt.
GAZPROM,OPTICOM,NANOGEN,FAST SEARCH habe ich noch im Depot,GAZPROM stark Mitte Februar 2001 übergewichtet.
Ab und zu kaufe jetzt NEWPORT.
(Eine andere Neuausrichtung bei mir sind rumänische Aktien,kaufe direkt in Transsilvanien)
Schöne Grüsse,
Herbertraubvogel
Newport Corporation to Feature Next Steps in Automated Fiber Optic Communications Test and Assembly at ECOC 2001
IRVINE, Calif., Oct. 1, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that the company`s next generation solutions for the manufacture of components and systems for the fiber optic communications industry, including the power of the Newport Factor(tm), will be featured at this year`s ECOC 2001 Fiber Optic Communications Conference and Exhibition. The forum opens today, October 1, 2001, at the Rai Centre, Amsterdam, The Netherlands, and runs through October 3. The company`s exhibition booth is located at Stand 1007.
Robert G. Deuster, chairman and chief executive officer of Newport, said, ``Newport is pleased to showcase our state-of-the-art technology and quality control solutions for the European fiber optic communications industry. During the conference, we believe European manufacturers will find more of the cost-effective solutions they increasingly require to accelerate time-to-market, raise performance, increase throughput and enable quick response to changing market needs. ECOC 2001 is an opportunity for Newport to demonstrate a number of key advances in automated high-speed, multi-fiber attachment systems, as well as chip level device characterization. Continual evolution of our systems technology, coupled with integrated process control, are making these new automation platforms possible.``
Deuster added: ``With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant. We have quantified the degree to which clients can determine the benefits of Newport`s products through use of The Newport Factor(tm).``
Continuing, Deuster said, ``The Newport Factor measures the quantifiable improvement our customers can achieve by applying Newport`s unparalleled combination of equipment, application knowledge base, package design, process engineering and global support services. The results are higher yields, increased throughput, reduced floor space and faster time to market, resulting in a clear competitive advantage for our customers. Newport has proved to be a vital partner to many companies in the fiber optics industry. We believe our next generation products and technology will translate into even better solutions for our customers as we move forward to meet their evolving manufacturing requirements in the years ahead.``
Newport will be represented at ECOC 2001 by a Newport team headed by Lothar Voelker, photonics product line manager, of Newport`s German subsidiary at Holzhofallee 19-21 D64295, Darmstadt, Germany, 49 6151 3621 0.
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
The statements in this news release, including the statements made by Robert G. Deuster, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully introduce its Newport Factor(tm) and other products and technologies to the fiber optics communications marketplace; the success of Newport`s fiber optics business strategy overall; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and photonics market; whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson / Michael Pollock
310.207.9300
investor@pondel.com
SOURCE: Newport Corporation
IRVINE, Calif., Oct. 1, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that the company`s next generation solutions for the manufacture of components and systems for the fiber optic communications industry, including the power of the Newport Factor(tm), will be featured at this year`s ECOC 2001 Fiber Optic Communications Conference and Exhibition. The forum opens today, October 1, 2001, at the Rai Centre, Amsterdam, The Netherlands, and runs through October 3. The company`s exhibition booth is located at Stand 1007.
Robert G. Deuster, chairman and chief executive officer of Newport, said, ``Newport is pleased to showcase our state-of-the-art technology and quality control solutions for the European fiber optic communications industry. During the conference, we believe European manufacturers will find more of the cost-effective solutions they increasingly require to accelerate time-to-market, raise performance, increase throughput and enable quick response to changing market needs. ECOC 2001 is an opportunity for Newport to demonstrate a number of key advances in automated high-speed, multi-fiber attachment systems, as well as chip level device characterization. Continual evolution of our systems technology, coupled with integrated process control, are making these new automation platforms possible.``
Deuster added: ``With close to 90 percent of the fiber optic/photonics industry still using manual or semi-automated processes, the potential for improvement is significant. We have quantified the degree to which clients can determine the benefits of Newport`s products through use of The Newport Factor(tm).``
Continuing, Deuster said, ``The Newport Factor measures the quantifiable improvement our customers can achieve by applying Newport`s unparalleled combination of equipment, application knowledge base, package design, process engineering and global support services. The results are higher yields, increased throughput, reduced floor space and faster time to market, resulting in a clear competitive advantage for our customers. Newport has proved to be a vital partner to many companies in the fiber optics industry. We believe our next generation products and technology will translate into even better solutions for our customers as we move forward to meet their evolving manufacturing requirements in the years ahead.``
Newport will be represented at ECOC 2001 by a Newport team headed by Lothar Voelker, photonics product line manager, of Newport`s German subsidiary at Holzhofallee 19-21 D64295, Darmstadt, Germany, 49 6151 3621 0.
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
The statements in this news release, including the statements made by Robert G. Deuster, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully introduce its Newport Factor(tm) and other products and technologies to the fiber optics communications marketplace; the success of Newport`s fiber optics business strategy overall; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and photonics market; whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson / Michael Pollock
310.207.9300
investor@pondel.com
SOURCE: Newport Corporation
!
Dieser Beitrag wurde moderiert. Grund: Beschwerde durch Firma liegt w:o vor
moin panik,
meine pers. ranking ist digl (trotz der schmerzhaften einbrüche), newp (sind super aufgestellt und werden dies hoffentlich am 17.10 mit guten qz untermauern) und actr (haben einen schönen boden ausgebildet)!
auf steigende kurse mr007
meine pers. ranking ist digl (trotz der schmerzhaften einbrüche), newp (sind super aufgestellt und werden dies hoffentlich am 17.10 mit guten qz untermauern) und actr (haben einen schönen boden ausgebildet)!
auf steigende kurse mr007
Hallo mr.007
Digl,Exfo und Newp gefallen mir fast alle gleich gut.
Wenn ich mich nicht täusche bringt Digl morgen Zahlen
Toi Toi
Gruß panik
Digl,Exfo und Newp gefallen mir fast alle gleich gut.
Wenn ich mich nicht täusche bringt Digl morgen Zahlen
Toi Toi
Gruß panik
stimmt digl ist morgen an der reihe, die zahlen sind mehr o. weniger bekannt, doch der jüngste kursverlauf lässt ein bissel hoffnung aufkeimen!
ciao mr007
ciao mr007
Newport Corporation Reports Third Quarter and Nine-Months Results
IRVINE, Calif., Oct. 17, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today reported sales of $62.9 million and pro forma earnings per share of $0.02 for the third quarter of 2001, results that are slightly better than the company`s previous guidance.
Pro forma results for the third quarter of 2001 exclude one-time charges of approximately $39.1 million, comprised of inventory revaluations of $24.4 million, facility closure costs of $8.2 million, employee severance of $3.4 million, and write-down of impaired assets of $3.1 million. The charges are related to the company`s previously announced cost reduction programs, which are designed to improve the company`s profitability both during and after the current period of weak demand, which the company expects to last at least through the first half of 2002.
Including the effects of these non-recurring charges, the company reported a net loss of $25.5 million, or $0.70 per share, for the third quarter of 2001. Including the effects of all non-recurring charges from both the first and third quarters of 2001, the company recorded a net loss of $6.4 million, or $0.18 per share, on net sales of $268.5 million for the nine months ended September 30, 2001.
Net sales for the quarter ended September 30, 2001 totaled $62.9 million, a decrease of 15 percent from $73.6 million in the prior-year period. Results in the third quarter reflect a 54 percent year-over-year decrease in sales to the fiber optic communications market to $14.6 million, compared with $31.5 million in the prior-year third quarter. This decrease was partially offset by a 33 percent increase in sales to the semiconductor capital equipment market to $22.5 million, compared with $16.9 million in the third quarter a year ago. Net sales to the company`s other end markets totaled $25.8 million, an increase of 2 percent from $25.2 million a year ago. Net sales for the first nine months of 2001 increased 43 percent to $268.5 million, compared with $187.2 million for the corresponding period last year.
New orders received in the third quarter equaled $38.6 million, compared with $55.2 million in the second quarter of 2001. During the third quarter, the company recorded order cancellations of approximately $7.8 million, resulting in net orders of approximately $30.8 million. In addition to the cancellations, the company noted that the shippable backlog was further reduced by $4.9 million for orders that were rescheduled for delivery beyond the next 12 months.
Orders from customers in the fiber optic communications market were $6.2 million in the third quarter of 2001, compared with $11.9 million in the second quarter of 2001, and $48.7 million in the prior-year third quarter. Orders from customers in the semiconductor capital equipment market were $7.0 million in the third quarter of 2001, compared with $16.8 million in the second quarter of 2001 and $35.2 million in the prior-year third quarter. Orders from customers in Newport`s other end markets were $25.4 million in the third quarter of 2001, compared with $26.5 million in the second quarter of 2001 and $29.6 million in the prior-year third quarter.
``Despite the sluggish environment in our key end markets, results for the third quarter were slightly better than we anticipated in early September,`` said Robert G. Deuster, chairman and chief executive officer. ``As we have said for the last few quarters, orders from our fiber optic communications customers are slow due to excess manufacturing capacity and severely reduced demand from their own customers for components. At the same time, the current weakness in our semiconductor equipment business has been exacerbated by order push-outs by several of our large semiconductor equipment customers relating to products for optical and robotic applications, which we believe is due to delays in 300-millimeter tool deployments. We expect these conditions to continue into 2002. Accordingly, we have moved aggressively to bring Newport`s cost structure in line with the difficult market environment and increase the efficiency of our operations.``
The company`s cost reduction measures, announced in July and September, are currently being implemented and include the following:
-- Adjustments of approximately $24.4 million to the carrying value
of inventory to reflect current market conditions and resulting
revisions to sales forecasts.
-- Consolidation of manufacturing facilities in Garden Grove,
California, San Luis Obispo, California and Longmont, Colorado,
into Newport`s expanded operations in Irvine, California, and
consolidation of all metrology systems manufacturing into the
company`s CEJohansson operations in Eskilstuna, Sweden. The
consolidations are expected to be completed by the second quarter
of 2002.
-- Workforce downsizing of approximately 400 employees or 20 percent
of total headcount. Headcount has already been reduced by
approximately 230 people. The remaining reductions will occur as
the plant consolidations are completed.
``These actions are designed to maximize Newport`s profitability during the current market downturn and then also once the current cycle reverses,`` Deuster added. ``At the same time, we continue to invest in research and development of next-generation products to further strengthen Newport`s leadership position as a provider of powerful manufacturing and automation solutions to the fiber optic communications, semiconductor equipment and general metrology markets. Notwithstanding the current downturn, we remain confident that there will be a continuing need for fiber optic and semiconductor manufacturers to improve their process efficiencies and yields through automation. We believe that these actions will help us emerge from this down-cycle stronger and better positioned to serve our customers by offering them products to meet their current and next-generation needs.``
The estimated total charges associated with the cost reduction actions are summarized as follows:
(in millions) Cash Non-Cash Total
Inventory valuation reserves $ -- $24.4 $24.4
Facility consolidation costs 2.5 5.7 8.2
Severance 3.1 0.3 3.4
Other charges -- 3.1 3.1
Total charges $5.6 $33.5 $39.1
Excluding the effects of these one-time charges, gross margin in the third quarter of 2001 was 35.0 percent compared with 44.4 percent in the prior-year third quarter, reflecting significantly lower absorption of fixed overhead due to the sharp decline in net sales.
Selling, general and administrative (SG&A) expense for the third quarter of 2001, including the $14.1 million in one-time charges, totaled $30.3 million. On a pro forma basis excluding the one-time charges, SG&A expense was $16.2 million, or 25.9 percent of sales, versus $14.2 million, or 19.3 percent of sales, in the third quarter of 2000. Sequentially, pro forma SG&A expense decreased $2.0 million from the second quarter of 2001 primarily due to the lower sales as well as the effects of the cost reduction actions identified and implemented in July.
Research and development (R&D) expense for the third quarter of 2001 increased 19 percent year-over-year to $7.7 million, or 12.2 percent of sales, compared $6.4 million, or 8.8 percent of sales in the third quarter of 2000. Sequentially, R&D expense decreased $0.5 million, or 7 percent, from the second quarter of 2001.
Interest and other income, net of interest expense, consisting primarily of interest earned on marketable securities, totaled $3.1 million for the third quarter of 2001, unchanged from the third quarter of 2000. The tax rate for the third quarter was 33 percent versus a pro forma tax rate of 34 percent in the third quarter last year. The pro forma tax rate for the 2000 period reflects the additional tax provision on the earnings attributable to Kensington Laboratories, Inc. for which a tax provision was not recorded due to Kensington`s S-Corp income tax status.
Deuster added: ``Newport`s balance sheet and cash position remain very strong. The company now has $268.4 million in cash and marketable securities, which allow us to continue to invest, internally and through acquisitions, in important automation and productivity technology to meet our customers` ever-increasing needs for greater throughput and lower cost.``
EXPANDED 2001 FOURTH QUARTER AND FULL-YEAR BUSINESS OUTLOOK
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
-- The company anticipates that revenues for the fourth quarter of 2001 will be in the range of $55 million to $58 million. For the full year 2001, revenues are expected to be in the range of $324 million to $327 million.
-- Gross margin for the fourth quarter of 2001 is expected to be approximately 33 to 34 percent.
-- SG&A expenses, excluding one-time charges, are expected to be down slightly from the $16.2 million recorded in third quarter of 2001. The company expects one-time charges of approximately $0.5 million to $1.0 million related to certain cost reduction initiatives and final acquisition integration costs not accruable at September 30, 2001. For the full year, SG&A expenses, excluding one-time charges, are expected to be approximately 22 percent of sales.
-- R&D spending is expected to be between $7.0 million and $7.5 million. in the fourth quarter of 2001. For the full year, R&D spending is expected to be approximately 10 percent of sales.
-- The company expects interest and other income, net of interest expense, to be between $3.2 million and $3.6 million in the fourth quarter of 2001, depending on interest rates, cash balances, foreign exchange markets, and potential business development activity.
-- The tax rate for the fourth quarter of 2001 and the full year is expected to be approximately 33 percent.
-- The company expects the number of diluted common shares outstanding to remain essentially flat at approximately 37.6 million for the fourth quarter. Actual diluted shares may vary depending on share price trends and option grant and exercise activity.
-- For the fourth quarter, diluted earnings per share, excluding non-recurring charges, are expected to be approximately at the break-even level despite the sequentially lower sales output due to savings generated from the cost reduction initiatives.
ABOUT NEWPORT CORPORATION
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research and general metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
INVESTOR CONFERENCE CALL
Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will host an investor conference call today, October 17, 2001 at 5:00 p.m., Eastern Time, to review the company`s third quarter results. The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.newport.com and www.streetevents.com. Rebroadcast over the Internet will be available through 8:00 p.m., Eastern Time, Wednesday, October 31, 2001, on both Web sites. A telephonic playback of the conference call will also be available through 8:00 p.m., Eastern Time, Wednesday, October 24, 2001. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 19822812.
This news release contains forward-looking statements, including without limitation the statements under the heading ``Expanded 2001 Fourth Quarter and Full-Year Business Outlook`` and the statements made by Robert G. Deuster, that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, potential order cancellations and push-outs, potential product returns, future economic, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the ability of Newport to successfully integrate its acquired and to-be-acquired companies and the contributions of those companies to Newport`s operating results, risks associated with terrorist activity and resulting economic uncertainty, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Newport Corporation
Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 % Chg 2001 2000 % Chg
---- ---- ----- ---- ---- -----
Net sales $ 62,903 $ 73,629 (15) $268,543 $187,175 43
Cost of sales,
including
asset
writedown
related to
acquisition
integration,
inventory
valuations
and other
costs 66,003 40,959 185,029 101,291
-------- -------- -------- --------
Gross profit (3,100) 32,670 (109) 83,514 85,884 (3)
Selling,
general and
administra-
tive expense 16,880 14,201 55,344 37,492
Restructuring,
acquisition,
and other
one-time
charges 13,438 0 24,121 0
Research and
development
expense 7,689 6,449 24,133 17,227
-------- -------- -------- --------
Income (loss)
from
operations (41,107) 12,020 (442) (20,084) 31,165 (164)
Income (loss)
from
operations % (65.3) 16.3 (7.5) 16.7
Interest and
other income,
net 3,108 3,135 10,569 1,893
-------- -------- -------- --------
Income (loss)
before income
taxes (37,999) 15,155 (351) (9,515) 33,058 (129)
Income tax
provision
(benefit) (12,540) 3,941 (3,140) 6,745
-------- -------- -------- --------
Net income
(loss) $(25,459) $ 11,214 (327) $(6,375) $ 26,313 (124)
Earnings (loss)
per share
Basic $ (0.70) $ 0.32 (319) $ (0.18) $ 0.81 (122)
Diluted $ (0.70) $ 0.30 (333) $ (0.18) $ 0.75 (124)
Number of
shares used
to calculate
earnings per
share
Basic 36,487 34,514 36,335 32,679
Diluted 36,487 36,827 36,335 35,126
NOTE: Refer to the attached Consolidated Income Statement for the
pro forma presentation.
Condensed Consolidated Balance Sheet
(In thousands) September 30, December 31,
2001 2000
ASSETS (Unaudited)
Cash and cash equivalents $ 4,477 $ 16,861
Marketable securities 263,921 289,781
Customer receivables, net 58,298 70,241
Inventories, net 94,421 80,585
Deferred tax assets 27,423 17,720
Other current assets 9,218 11,946
-------- --------
Total current assets 457,758 487,134
Investments and other assets 8,890 9,773
Property, plant and equipment, net 47,567 41,308
Goodwill, net 27,433 18,805
-------- --------
$541,648 $557,020
======== ========
September 30, December 31,
2001 2000
LIABILITIES AND EQUITY (Unaudited)
Accounts payable $ 14,259 $ 24,797
Accrued payroll expenses 13,013 13,313
Taxes based on income 0 1,139
Current portion of long-term debt 7,958 7,590
Deferred revenue 673 2,696
Other current liabilities 13,910 11,305
-------- --------
Total current liabilities 49,813 60,840
Long-term debt 4,479 9,540
Other liabilities 1,294 675
Stockholders` equity 486,062 485,965
-------- --------
$541,648 $557,020
======== ========
Newport Corporation
Pro Forma Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 % Chg 2001 2000 % Chg
------- ------- --- -------- -------- ---
Net sales $62,903 $73,629 (15) $268,543 $187,175 43
Cost of sales 40,900 40,959 158,138 101,291
------- ------- -------- --------
Gross profit 22,003 32,670 (33) 110,405 85,884 29
Selling, general
and administra-
tive expense 16,249 14,201 54,713 37,492
Research and
development
expense 7,689 6,449 24,133 17,227
------- ------- -------- --------
Income (loss)
from operations (1,935) 12,020 (116) 31,559 31,165 1
Income (loss)
from operations % (3.1) 16.3 11.8 16.7
Interest and
other income,
net 3,108 3,135 10,617 1,893
------- ------- -------- --------
Income before
income taxes 1,173 15,155 (92) 42,176 33,058 28
Income tax
provision 387 5,155 13,918 11,064
------- ------- -------- --------
Net income $ 786 $10,000 (92) $ 28,258 $ 21,994 28
Earnings per
share
Basic $0.02 $0.29 (93) $0.78 $0.67 16
Diluted $0.02 $0.27 (93) $0.75 $0.63 19
Number of shares
used to calculate
earnings per share
Basic 36,487 34,514 36,335 32,679
Diluted 37,676 36,827 37,836 35,126
Note: Adjusted to (a) exclude the impacts of the $51.6 million of
non-recurring charges in the first and third quarters of 2001 and
(b) reflect pro forma tax provisions of $1.2 million and $4.3
million in the 2000 three- and nine-month periods, respectively,
on the operations of Kensington Laboratories, Inc., with whom
Newport merged via a transaction accounted for as a pooling of
interests in February 2001.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson
(310) 207-9300
investor@pondel.com
SOURCE: Newport Corporation
IRVINE, Calif., Oct. 17, 2001 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today reported sales of $62.9 million and pro forma earnings per share of $0.02 for the third quarter of 2001, results that are slightly better than the company`s previous guidance.
Pro forma results for the third quarter of 2001 exclude one-time charges of approximately $39.1 million, comprised of inventory revaluations of $24.4 million, facility closure costs of $8.2 million, employee severance of $3.4 million, and write-down of impaired assets of $3.1 million. The charges are related to the company`s previously announced cost reduction programs, which are designed to improve the company`s profitability both during and after the current period of weak demand, which the company expects to last at least through the first half of 2002.
Including the effects of these non-recurring charges, the company reported a net loss of $25.5 million, or $0.70 per share, for the third quarter of 2001. Including the effects of all non-recurring charges from both the first and third quarters of 2001, the company recorded a net loss of $6.4 million, or $0.18 per share, on net sales of $268.5 million for the nine months ended September 30, 2001.
Net sales for the quarter ended September 30, 2001 totaled $62.9 million, a decrease of 15 percent from $73.6 million in the prior-year period. Results in the third quarter reflect a 54 percent year-over-year decrease in sales to the fiber optic communications market to $14.6 million, compared with $31.5 million in the prior-year third quarter. This decrease was partially offset by a 33 percent increase in sales to the semiconductor capital equipment market to $22.5 million, compared with $16.9 million in the third quarter a year ago. Net sales to the company`s other end markets totaled $25.8 million, an increase of 2 percent from $25.2 million a year ago. Net sales for the first nine months of 2001 increased 43 percent to $268.5 million, compared with $187.2 million for the corresponding period last year.
New orders received in the third quarter equaled $38.6 million, compared with $55.2 million in the second quarter of 2001. During the third quarter, the company recorded order cancellations of approximately $7.8 million, resulting in net orders of approximately $30.8 million. In addition to the cancellations, the company noted that the shippable backlog was further reduced by $4.9 million for orders that were rescheduled for delivery beyond the next 12 months.
Orders from customers in the fiber optic communications market were $6.2 million in the third quarter of 2001, compared with $11.9 million in the second quarter of 2001, and $48.7 million in the prior-year third quarter. Orders from customers in the semiconductor capital equipment market were $7.0 million in the third quarter of 2001, compared with $16.8 million in the second quarter of 2001 and $35.2 million in the prior-year third quarter. Orders from customers in Newport`s other end markets were $25.4 million in the third quarter of 2001, compared with $26.5 million in the second quarter of 2001 and $29.6 million in the prior-year third quarter.
``Despite the sluggish environment in our key end markets, results for the third quarter were slightly better than we anticipated in early September,`` said Robert G. Deuster, chairman and chief executive officer. ``As we have said for the last few quarters, orders from our fiber optic communications customers are slow due to excess manufacturing capacity and severely reduced demand from their own customers for components. At the same time, the current weakness in our semiconductor equipment business has been exacerbated by order push-outs by several of our large semiconductor equipment customers relating to products for optical and robotic applications, which we believe is due to delays in 300-millimeter tool deployments. We expect these conditions to continue into 2002. Accordingly, we have moved aggressively to bring Newport`s cost structure in line with the difficult market environment and increase the efficiency of our operations.``
The company`s cost reduction measures, announced in July and September, are currently being implemented and include the following:
-- Adjustments of approximately $24.4 million to the carrying value
of inventory to reflect current market conditions and resulting
revisions to sales forecasts.
-- Consolidation of manufacturing facilities in Garden Grove,
California, San Luis Obispo, California and Longmont, Colorado,
into Newport`s expanded operations in Irvine, California, and
consolidation of all metrology systems manufacturing into the
company`s CEJohansson operations in Eskilstuna, Sweden. The
consolidations are expected to be completed by the second quarter
of 2002.
-- Workforce downsizing of approximately 400 employees or 20 percent
of total headcount. Headcount has already been reduced by
approximately 230 people. The remaining reductions will occur as
the plant consolidations are completed.
``These actions are designed to maximize Newport`s profitability during the current market downturn and then also once the current cycle reverses,`` Deuster added. ``At the same time, we continue to invest in research and development of next-generation products to further strengthen Newport`s leadership position as a provider of powerful manufacturing and automation solutions to the fiber optic communications, semiconductor equipment and general metrology markets. Notwithstanding the current downturn, we remain confident that there will be a continuing need for fiber optic and semiconductor manufacturers to improve their process efficiencies and yields through automation. We believe that these actions will help us emerge from this down-cycle stronger and better positioned to serve our customers by offering them products to meet their current and next-generation needs.``
The estimated total charges associated with the cost reduction actions are summarized as follows:
(in millions) Cash Non-Cash Total
Inventory valuation reserves $ -- $24.4 $24.4
Facility consolidation costs 2.5 5.7 8.2
Severance 3.1 0.3 3.4
Other charges -- 3.1 3.1
Total charges $5.6 $33.5 $39.1
Excluding the effects of these one-time charges, gross margin in the third quarter of 2001 was 35.0 percent compared with 44.4 percent in the prior-year third quarter, reflecting significantly lower absorption of fixed overhead due to the sharp decline in net sales.
Selling, general and administrative (SG&A) expense for the third quarter of 2001, including the $14.1 million in one-time charges, totaled $30.3 million. On a pro forma basis excluding the one-time charges, SG&A expense was $16.2 million, or 25.9 percent of sales, versus $14.2 million, or 19.3 percent of sales, in the third quarter of 2000. Sequentially, pro forma SG&A expense decreased $2.0 million from the second quarter of 2001 primarily due to the lower sales as well as the effects of the cost reduction actions identified and implemented in July.
Research and development (R&D) expense for the third quarter of 2001 increased 19 percent year-over-year to $7.7 million, or 12.2 percent of sales, compared $6.4 million, or 8.8 percent of sales in the third quarter of 2000. Sequentially, R&D expense decreased $0.5 million, or 7 percent, from the second quarter of 2001.
Interest and other income, net of interest expense, consisting primarily of interest earned on marketable securities, totaled $3.1 million for the third quarter of 2001, unchanged from the third quarter of 2000. The tax rate for the third quarter was 33 percent versus a pro forma tax rate of 34 percent in the third quarter last year. The pro forma tax rate for the 2000 period reflects the additional tax provision on the earnings attributable to Kensington Laboratories, Inc. for which a tax provision was not recorded due to Kensington`s S-Corp income tax status.
Deuster added: ``Newport`s balance sheet and cash position remain very strong. The company now has $268.4 million in cash and marketable securities, which allow us to continue to invest, internally and through acquisitions, in important automation and productivity technology to meet our customers` ever-increasing needs for greater throughput and lower cost.``
EXPANDED 2001 FOURTH QUARTER AND FULL-YEAR BUSINESS OUTLOOK
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially as a result of the factors more specifically referenced below.
-- The company anticipates that revenues for the fourth quarter of 2001 will be in the range of $55 million to $58 million. For the full year 2001, revenues are expected to be in the range of $324 million to $327 million.
-- Gross margin for the fourth quarter of 2001 is expected to be approximately 33 to 34 percent.
-- SG&A expenses, excluding one-time charges, are expected to be down slightly from the $16.2 million recorded in third quarter of 2001. The company expects one-time charges of approximately $0.5 million to $1.0 million related to certain cost reduction initiatives and final acquisition integration costs not accruable at September 30, 2001. For the full year, SG&A expenses, excluding one-time charges, are expected to be approximately 22 percent of sales.
-- R&D spending is expected to be between $7.0 million and $7.5 million. in the fourth quarter of 2001. For the full year, R&D spending is expected to be approximately 10 percent of sales.
-- The company expects interest and other income, net of interest expense, to be between $3.2 million and $3.6 million in the fourth quarter of 2001, depending on interest rates, cash balances, foreign exchange markets, and potential business development activity.
-- The tax rate for the fourth quarter of 2001 and the full year is expected to be approximately 33 percent.
-- The company expects the number of diluted common shares outstanding to remain essentially flat at approximately 37.6 million for the fourth quarter. Actual diluted shares may vary depending on share price trends and option grant and exercise activity.
-- For the fourth quarter, diluted earnings per share, excluding non-recurring charges, are expected to be approximately at the break-even level despite the sequentially lower sales output due to savings generated from the cost reduction initiatives.
ABOUT NEWPORT CORPORATION
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research and general metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
INVESTOR CONFERENCE CALL
Robert G. Deuster, chairman and chief executive officer, and Charles F. Cargile, vice president and chief financial officer, will host an investor conference call today, October 17, 2001 at 5:00 p.m., Eastern Time, to review the company`s third quarter results. The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.newport.com and www.streetevents.com. Rebroadcast over the Internet will be available through 8:00 p.m., Eastern Time, Wednesday, October 31, 2001, on both Web sites. A telephonic playback of the conference call will also be available through 8:00 p.m., Eastern Time, Wednesday, October 24, 2001. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 19822812.
This news release contains forward-looking statements, including without limitation the statements under the heading ``Expanded 2001 Fourth Quarter and Full-Year Business Outlook`` and the statements made by Robert G. Deuster, that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, potential order cancellations and push-outs, potential product returns, future economic, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the ability of Newport to successfully integrate its acquired and to-be-acquired companies and the contributions of those companies to Newport`s operating results, risks associated with terrorist activity and resulting economic uncertainty, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Newport Corporation
Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 % Chg 2001 2000 % Chg
---- ---- ----- ---- ---- -----
Net sales $ 62,903 $ 73,629 (15) $268,543 $187,175 43
Cost of sales,
including
asset
writedown
related to
acquisition
integration,
inventory
valuations
and other
costs 66,003 40,959 185,029 101,291
-------- -------- -------- --------
Gross profit (3,100) 32,670 (109) 83,514 85,884 (3)
Selling,
general and
administra-
tive expense 16,880 14,201 55,344 37,492
Restructuring,
acquisition,
and other
one-time
charges 13,438 0 24,121 0
Research and
development
expense 7,689 6,449 24,133 17,227
-------- -------- -------- --------
Income (loss)
from
operations (41,107) 12,020 (442) (20,084) 31,165 (164)
Income (loss)
from
operations % (65.3) 16.3 (7.5) 16.7
Interest and
other income,
net 3,108 3,135 10,569 1,893
-------- -------- -------- --------
Income (loss)
before income
taxes (37,999) 15,155 (351) (9,515) 33,058 (129)
Income tax
provision
(benefit) (12,540) 3,941 (3,140) 6,745
-------- -------- -------- --------
Net income
(loss) $(25,459) $ 11,214 (327) $(6,375) $ 26,313 (124)
Earnings (loss)
per share
Basic $ (0.70) $ 0.32 (319) $ (0.18) $ 0.81 (122)
Diluted $ (0.70) $ 0.30 (333) $ (0.18) $ 0.75 (124)
Number of
shares used
to calculate
earnings per
share
Basic 36,487 34,514 36,335 32,679
Diluted 36,487 36,827 36,335 35,126
NOTE: Refer to the attached Consolidated Income Statement for the
pro forma presentation.
Condensed Consolidated Balance Sheet
(In thousands) September 30, December 31,
2001 2000
ASSETS (Unaudited)
Cash and cash equivalents $ 4,477 $ 16,861
Marketable securities 263,921 289,781
Customer receivables, net 58,298 70,241
Inventories, net 94,421 80,585
Deferred tax assets 27,423 17,720
Other current assets 9,218 11,946
-------- --------
Total current assets 457,758 487,134
Investments and other assets 8,890 9,773
Property, plant and equipment, net 47,567 41,308
Goodwill, net 27,433 18,805
-------- --------
$541,648 $557,020
======== ========
September 30, December 31,
2001 2000
LIABILITIES AND EQUITY (Unaudited)
Accounts payable $ 14,259 $ 24,797
Accrued payroll expenses 13,013 13,313
Taxes based on income 0 1,139
Current portion of long-term debt 7,958 7,590
Deferred revenue 673 2,696
Other current liabilities 13,910 11,305
-------- --------
Total current liabilities 49,813 60,840
Long-term debt 4,479 9,540
Other liabilities 1,294 675
Stockholders` equity 486,062 485,965
-------- --------
$541,648 $557,020
======== ========
Newport Corporation
Pro Forma Consolidated Income Statement
(In thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 % Chg 2001 2000 % Chg
------- ------- --- -------- -------- ---
Net sales $62,903 $73,629 (15) $268,543 $187,175 43
Cost of sales 40,900 40,959 158,138 101,291
------- ------- -------- --------
Gross profit 22,003 32,670 (33) 110,405 85,884 29
Selling, general
and administra-
tive expense 16,249 14,201 54,713 37,492
Research and
development
expense 7,689 6,449 24,133 17,227
------- ------- -------- --------
Income (loss)
from operations (1,935) 12,020 (116) 31,559 31,165 1
Income (loss)
from operations % (3.1) 16.3 11.8 16.7
Interest and
other income,
net 3,108 3,135 10,617 1,893
------- ------- -------- --------
Income before
income taxes 1,173 15,155 (92) 42,176 33,058 28
Income tax
provision 387 5,155 13,918 11,064
------- ------- -------- --------
Net income $ 786 $10,000 (92) $ 28,258 $ 21,994 28
Earnings per
share
Basic $0.02 $0.29 (93) $0.78 $0.67 16
Diluted $0.02 $0.27 (93) $0.75 $0.63 19
Number of shares
used to calculate
earnings per share
Basic 36,487 34,514 36,335 32,679
Diluted 37,676 36,827 37,836 35,126
Note: Adjusted to (a) exclude the impacts of the $51.6 million of
non-recurring charges in the first and third quarters of 2001 and
(b) reflect pro forma tax provisions of $1.2 million and $4.3
million in the 2000 three- and nine-month periods, respectively,
on the operations of Kensington Laboratories, Inc., with whom
Newport merged via a transaction accounted for as a pooling of
interests in February 2001.
--------------------------------------------------------------------------------
CONTACT: Newport Corporation, Irvine
Charles F. Cargile
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L, Los Angeles
Cecilia A. Wilkinson
(310) 207-9300
investor@pondel.com
SOURCE: Newport Corporation
Adamson Brothers Inc. Offers Investment Opinion on the Semiconductor Industry
PARAMUS, N.J., Dec. 3 /PRNewswire/ -- The following is being issued by Adamson Brothers Inc, a Broker/Dealer and a member of the NASD (#46684):
After downgrading the semiconductor industry in March of 2000, we now believe that the fundamentals of the semiconductor industry are showing signs of improving. We believe that the industry has bottomed and that we will begin to witness sequential revenue growth beginning with December of 2001.
The companies that are covered in this report are:
Applied Micro Circuits: Symbol: AMCC
Advanced Micro Devices: Symbol: AMD
Broadcom Corp: Symbol: BRCM
Intel Corp: Symbol: INTC
LSI Logic: Symbol: LSI
Micron Technology: Symbol: MU
PMC Sierra: Symbol: PMCS
Texas Instruments: Symbol: TXN
Vitesse Semiconductor: Symbol: VTSS
Xilinx: Symbol: XLNX
Applied Materials: Symbol: AMAT
Keithley Instruments: Symbol: KEI
KLA Tencor: Symbol: KLAC
Newport: Symbol: NEWP
Lam Research: Symbol: LRCX
Novellus: Symbol: NVLS
The following semiconductor related companies are on Adamson Brothers` recommended list:
Applied Materials
Broadcom
Intel
Keithley
Newport
Texas Instruments
While we believe these companies are best positioned for the future; at current price levels, we would only begin to build small positions or reduce large positions since many of the companies have already realized substantial gains in the past 7 weeks. Our firm believes that there may be up to 20% downside in some of the more aggressive semiconductor companies. Our projections are for 0.3% growth for global semiconductor sales in calendar year 2002. With the semiconductor industry returning to double-digit growth rates for 2003. More information regarding this report can be found at http://www.adamsonbrothers.com/research_area.htm.
Disclaimer:
The material herein has been obtained through sources we believe to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Any recommendation contained in this report may not be suitable for all investors and it is not deemed to be an offer or solicitation on our part with respect to the sale or purchase of any securities. We may make markets and effect transactions contrary to any recommendation herein, or have positions in the securities mentioned herein and may also have performed investment banking services for the issuers of such securities. In addition, our employees may have positions and effect transactions in the securities of the issuers mentioned in this report.
SOURCE: Adamson Brothers Inc.
PARAMUS, N.J., Dec. 3 /PRNewswire/ -- The following is being issued by Adamson Brothers Inc, a Broker/Dealer and a member of the NASD (#46684):
After downgrading the semiconductor industry in March of 2000, we now believe that the fundamentals of the semiconductor industry are showing signs of improving. We believe that the industry has bottomed and that we will begin to witness sequential revenue growth beginning with December of 2001.
The companies that are covered in this report are:
Applied Micro Circuits: Symbol: AMCC
Advanced Micro Devices: Symbol: AMD
Broadcom Corp: Symbol: BRCM
Intel Corp: Symbol: INTC
LSI Logic: Symbol: LSI
Micron Technology: Symbol: MU
PMC Sierra: Symbol: PMCS
Texas Instruments: Symbol: TXN
Vitesse Semiconductor: Symbol: VTSS
Xilinx: Symbol: XLNX
Applied Materials: Symbol: AMAT
Keithley Instruments: Symbol: KEI
KLA Tencor: Symbol: KLAC
Newport: Symbol: NEWP
Lam Research: Symbol: LRCX
Novellus: Symbol: NVLS
The following semiconductor related companies are on Adamson Brothers` recommended list:
Applied Materials
Broadcom
Intel
Keithley
Newport
Texas Instruments
While we believe these companies are best positioned for the future; at current price levels, we would only begin to build small positions or reduce large positions since many of the companies have already realized substantial gains in the past 7 weeks. Our firm believes that there may be up to 20% downside in some of the more aggressive semiconductor companies. Our projections are for 0.3% growth for global semiconductor sales in calendar year 2002. With the semiconductor industry returning to double-digit growth rates for 2003. More information regarding this report can be found at http://www.adamsonbrothers.com/research_area.htm.
Disclaimer:
The material herein has been obtained through sources we believe to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Any recommendation contained in this report may not be suitable for all investors and it is not deemed to be an offer or solicitation on our part with respect to the sale or purchase of any securities. We may make markets and effect transactions contrary to any recommendation herein, or have positions in the securities mentioned herein and may also have performed investment banking services for the issuers of such securities. In addition, our employees may have positions and effect transactions in the securities of the issuers mentioned in this report.
SOURCE: Adamson Brothers Inc.
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Newport Corporation Appoints Kevin Crofton General Manager of Fiber Optics & Photonics Division
IRVINE, Calif., Jan. 16, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced the appointment of Kevin T. Crofton to the position of vice president and general manager of Newport`s Fiber Optics & Photonics Division. He will report directly to Robert G. Deuster, president and chief executive officer.
Crofton, 40, most recently served as general manager of Fremont, California-based LAM Research Corporation`s (Nasdaq:LRCX - news) Chemical Mechanical Planarization (CMP)/Clean Products Group, where he managed the market launch and initial customer penetration strategy for the company`s entry into the CMP marketplace, and then directed the development and launch of the company`s second generation CMP/Clean product line.
Deuster said, ``In Kevin Crofton we have an exceptional senior executive who has a strong background and proven track record in semiconductor capital equipment business management, engineering and manufacturing. This expertise has become increasingly important for us as the fiber optic component manufacturers we serve look to learn from the experiences of the semiconductor industry, especially in terms of yield improvement and automation.
``Kevin`s background fits in well with our overall strategy as a capital equipment supplier to the fiber optic communications marketplace. He will have full responsibility for all aspects of Newport`s global business as it relates to the fiber optic test, measurement and assembly automation markets. We are excited to have Kevin`s strong combination of leadership and technical experience and are confident in his ability to fill this critical role for Newport,`` Deuster said.
Prior to joining LAM, Crofton served as program manager for advanced product development at the Chemical Systems Division of United Technologies, a subsidiary of Pratt & Whitney in San Jose, California. He began his career with the U.S. Department of Defense as a project engineer for tactical systems and progressed to manager of the Design Agent Branch. Crofton received an MBA in International Business from American University, Washington, D.C. and a Bachelor of Science degree in Engineering from Virginia Tech University in Blacksburg, Virginia.
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index.
This news release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic conditions, the ability of the company to obtain patents on its technology, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson / Michael Pollock
(310) 207-9300
investor@pondel.com
IRVINE, Calif., Jan. 16, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced the appointment of Kevin T. Crofton to the position of vice president and general manager of Newport`s Fiber Optics & Photonics Division. He will report directly to Robert G. Deuster, president and chief executive officer.
Crofton, 40, most recently served as general manager of Fremont, California-based LAM Research Corporation`s (Nasdaq:LRCX - news) Chemical Mechanical Planarization (CMP)/Clean Products Group, where he managed the market launch and initial customer penetration strategy for the company`s entry into the CMP marketplace, and then directed the development and launch of the company`s second generation CMP/Clean product line.
Deuster said, ``In Kevin Crofton we have an exceptional senior executive who has a strong background and proven track record in semiconductor capital equipment business management, engineering and manufacturing. This expertise has become increasingly important for us as the fiber optic component manufacturers we serve look to learn from the experiences of the semiconductor industry, especially in terms of yield improvement and automation.
``Kevin`s background fits in well with our overall strategy as a capital equipment supplier to the fiber optic communications marketplace. He will have full responsibility for all aspects of Newport`s global business as it relates to the fiber optic test, measurement and assembly automation markets. We are excited to have Kevin`s strong combination of leadership and technical experience and are confident in his ability to fill this critical role for Newport,`` Deuster said.
Prior to joining LAM, Crofton served as program manager for advanced product development at the Chemical Systems Division of United Technologies, a subsidiary of Pratt & Whitney in San Jose, California. He began his career with the U.S. Department of Defense as a project engineer for tactical systems and progressed to manager of the Design Agent Branch. Crofton received an MBA in International Business from American University, Washington, D.C. and a Bachelor of Science degree in Engineering from Virginia Tech University in Blacksburg, Virginia.
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index.
This news release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as ``may,`` ``will,`` ``expect,`` ``believe,`` ``anticipate,`` ``intend,`` ``could,`` ``estimate`` or ``continue`` or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic conditions, the ability of the company to obtain patents on its technology, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company`s strategic markets, will continue to achieve customer acceptance, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com
PondelWilkinson MS&L
Cecilia A. Wilkinson / Michael Pollock
(310) 207-9300
investor@pondel.com
Newport Corporation Signs Definitive Agreement to Acquire Micro Robotics Systems
Investor Conference Call Set for Today at 11:00 A.M. (Eastern Standard Time)
IRVINE, Calif., Jan. 23, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced the signing of a definitive agreement to acquire Micro Robotics Systems, Inc. (MRSI), a privately held manufacturer of high precision, fully automated assembly and dispensing systems for the fiber optic communications, microwave and semiconductor equipment markets. The purchase price is estimated to be between $55 million and $65 million and is expected to be slightly accretive to Newport`s full year 2002 results. The transaction, subject to customary closing conditions, is expected to be completed in the first quarter of 2002. The payment includes a combination of cash and Newport stock and the assumption and conversion of certain MRSI stock options. Final valuation will vary based on Newport`s share price when the transaction closes.
MRSI generated sales of approximately $25 million in 2001. Due to the slow down in MRSI`s end markets, the company expects sales for 2002 of between $15 million and $18 million.
``A key growth strategy of our company has been to expand Newport`s product portfolio and services in order to become a leading single-source supplier of test, measurement and automation solutions to the fiber optic communications and semiconductor equipment markets,`` said Robert G. Deuster, chairman and chief executive officer of Newport. ``This transaction significantly expands our product offering for die bonding assembly systems and is an excellent fit for our strategic initiatives in 2002 and beyond.``
Deuster continued, ``Newport is the leading supplier of automated fiber attachment systems to the photonics market, and MRSI is widely considered to be the premier designer and manufacturer of highly sophisticated, high precision chip attach, dispensing and bonding systems with specific applicability to fiber optic and high speed electronic markets. MRSI`s blue-chip customer roster is synergistic with our key customers, and its products are complementary to the automated assembly tools offered through Newport`s Fiber Optics and Photonics Division. The combined product portfolio will allow us to provide a full range of solutions from chip qualification through assembly and testing.``
``The combination of our two companies will result in significantly enhanced value to our customers as we go forward,`` said Neil Srivastava, president of MRSI. ``Newport`s global infrastructure, financial strength and technical expertise will enable us to further leverage our existing world-class products to address the advancing technical requirements in the markets we target for growth, including the fiber optic, microwave and semiconductor industries.``
Deuster and Srivastava added that the transaction fits especially well with an industry move toward automation, in which fiber optics component manufacturers are increasingly seeking to build more integrated automation into their component manufacturing processes.
Established in 1983 and headquartered in North Billerica, Massachusetts, MRSI`s experience and equipment address the assembly and packaging needs of customers in the microelectronics and advanced packaging industries with a specific focus on the photonics, optoelectronic, semiconductor and high frequency wireless segments. The company`s solutions are used in the assembly of complex optical modules including laser submounts, photo detectors, receivers, transmitters, fiber optic data switches, amplifiers and filters. Its products are field-proven, highly flexible and support a variety of assembly processes, including all types of epoxy and eutectic soldering die attachment methods. A major feature of the product platform is the delicate and closed loop force feedback placement required for handling thin and fragile materials such as gallium arsenide. MRSI also offers products for multi-purpose dispensing systems with features and options that make them ideally suited for dispensing conductive and non-conductive epoxy. The tools offer dual lane processing for flip chip underfill and encapsulation applications. The dispense technology enables the accurate epoxy dots and stamping capability required for beam lead diodes and other miniature devices used in the high frequency and optical markets.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index.
Investor Conference Call
Newport Corporation will host an investor conference call, this morning, Wednesday, January 23, at 8:00 a.m. PST (11:00 a.m. EST). Chairman and Chief Executive Officer Robert G. Deuster and Chief Financial Officer Charles F. Cargile will be joined by Kevin T. Crofton, newly appointed Vice President and General Manager of Newport`s Fiber Optics and Photonics Division, and Neil Srivastava, President of MRSI, to elaborate on the Newport`s agreement to acquire Micro Robotics Systems. The call will be open to all interested investors through a live audio Web broadcast via the Internet at http://www.newport.com/Investors and http://www.companyboardroom.com. Rebroadcast over the Internet will be available through 5:00 p.m. PST (8:00 p.m. EST), Wednesday, February 6, on both Web sites. A telephonic playback of the conference call will also be available through 5:00 p.m. PST (8:00 p.m. EST), Wednesday, January 30, 2002. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 20284027.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, and the statements made by Robert Deuster and Neil Srivastava are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully integrate MRSI with Newport`s other operations; the contributions of MRSI to Newport`s business strategy; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s and MRSI`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by MRSI and Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson
(310) 207-9300
investor@pondel.com
Investor Conference Call Set for Today at 11:00 A.M. (Eastern Standard Time)
IRVINE, Calif., Jan. 23, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced the signing of a definitive agreement to acquire Micro Robotics Systems, Inc. (MRSI), a privately held manufacturer of high precision, fully automated assembly and dispensing systems for the fiber optic communications, microwave and semiconductor equipment markets. The purchase price is estimated to be between $55 million and $65 million and is expected to be slightly accretive to Newport`s full year 2002 results. The transaction, subject to customary closing conditions, is expected to be completed in the first quarter of 2002. The payment includes a combination of cash and Newport stock and the assumption and conversion of certain MRSI stock options. Final valuation will vary based on Newport`s share price when the transaction closes.
MRSI generated sales of approximately $25 million in 2001. Due to the slow down in MRSI`s end markets, the company expects sales for 2002 of between $15 million and $18 million.
``A key growth strategy of our company has been to expand Newport`s product portfolio and services in order to become a leading single-source supplier of test, measurement and automation solutions to the fiber optic communications and semiconductor equipment markets,`` said Robert G. Deuster, chairman and chief executive officer of Newport. ``This transaction significantly expands our product offering for die bonding assembly systems and is an excellent fit for our strategic initiatives in 2002 and beyond.``
Deuster continued, ``Newport is the leading supplier of automated fiber attachment systems to the photonics market, and MRSI is widely considered to be the premier designer and manufacturer of highly sophisticated, high precision chip attach, dispensing and bonding systems with specific applicability to fiber optic and high speed electronic markets. MRSI`s blue-chip customer roster is synergistic with our key customers, and its products are complementary to the automated assembly tools offered through Newport`s Fiber Optics and Photonics Division. The combined product portfolio will allow us to provide a full range of solutions from chip qualification through assembly and testing.``
``The combination of our two companies will result in significantly enhanced value to our customers as we go forward,`` said Neil Srivastava, president of MRSI. ``Newport`s global infrastructure, financial strength and technical expertise will enable us to further leverage our existing world-class products to address the advancing technical requirements in the markets we target for growth, including the fiber optic, microwave and semiconductor industries.``
Deuster and Srivastava added that the transaction fits especially well with an industry move toward automation, in which fiber optics component manufacturers are increasingly seeking to build more integrated automation into their component manufacturing processes.
Established in 1983 and headquartered in North Billerica, Massachusetts, MRSI`s experience and equipment address the assembly and packaging needs of customers in the microelectronics and advanced packaging industries with a specific focus on the photonics, optoelectronic, semiconductor and high frequency wireless segments. The company`s solutions are used in the assembly of complex optical modules including laser submounts, photo detectors, receivers, transmitters, fiber optic data switches, amplifiers and filters. Its products are field-proven, highly flexible and support a variety of assembly processes, including all types of epoxy and eutectic soldering die attachment methods. A major feature of the product platform is the delicate and closed loop force feedback placement required for handling thin and fragile materials such as gallium arsenide. MRSI also offers products for multi-purpose dispensing systems with features and options that make them ideally suited for dispensing conductive and non-conductive epoxy. The tools offer dual lane processing for flip chip underfill and encapsulation applications. The dispense technology enables the accurate epoxy dots and stamping capability required for beam lead diodes and other miniature devices used in the high frequency and optical markets.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index.
Investor Conference Call
Newport Corporation will host an investor conference call, this morning, Wednesday, January 23, at 8:00 a.m. PST (11:00 a.m. EST). Chairman and Chief Executive Officer Robert G. Deuster and Chief Financial Officer Charles F. Cargile will be joined by Kevin T. Crofton, newly appointed Vice President and General Manager of Newport`s Fiber Optics and Photonics Division, and Neil Srivastava, President of MRSI, to elaborate on the Newport`s agreement to acquire Micro Robotics Systems. The call will be open to all interested investors through a live audio Web broadcast via the Internet at http://www.newport.com/Investors and http://www.companyboardroom.com. Rebroadcast over the Internet will be available through 5:00 p.m. PST (8:00 p.m. EST), Wednesday, February 6, on both Web sites. A telephonic playback of the conference call will also be available through 5:00 p.m. PST (8:00 p.m. EST), Wednesday, January 30, 2002. Listeners should call (800) 633-8284 (domestic) or (858) 812-6440 (international) and use Reservation No. 20284027.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, and the statements made by Robert Deuster and Neil Srivastava are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2000, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully integrate MRSI with Newport`s other operations; the contributions of MRSI to Newport`s business strategy; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s and MRSI`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by MRSI and Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson
(310) 207-9300
investor@pondel.com
Tuesday January 29, 5:06 pm Eastern Time
Newport Corp 4th Qtr profits fall on slow sales
IRVINE, Calif., Jan 29 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which designs high-precision components, on Tuesday reported fourth-quarter profits fell sharply, reflecting the downturn in its primary semiconductor equipment and fiber optic markets.
Newport reported quarterly income of $103,000 or break-even on a per-share basis, compared with $15.6 million, or 41 cents per share, a year earlier.
Wall Street analysts polled by research firm Thomson Financial/First Call expected results ranging from a profit of one cent per share to a loss of one cent per share with a consensus at break-even.
Quarterly sales fell 48 percent to $50.3 million from $96.8 million a year earlier.
Newport also said that it expects first-quarter sales to fall 5 to 10 percent from the fourth quarter. It expects to report a first-quarter loss of 3 cents to 5 cents per share. Wall Street analysts expected a profit of one cent per share, according to First Call.
Newport Corp 4th Qtr profits fall on slow sales
IRVINE, Calif., Jan 29 (Reuters) - Newport Corp. (NasdaqNM:NEWP - news), which designs high-precision components, on Tuesday reported fourth-quarter profits fell sharply, reflecting the downturn in its primary semiconductor equipment and fiber optic markets.
Newport reported quarterly income of $103,000 or break-even on a per-share basis, compared with $15.6 million, or 41 cents per share, a year earlier.
Wall Street analysts polled by research firm Thomson Financial/First Call expected results ranging from a profit of one cent per share to a loss of one cent per share with a consensus at break-even.
Quarterly sales fell 48 percent to $50.3 million from $96.8 million a year earlier.
Newport also said that it expects first-quarter sales to fall 5 to 10 percent from the fourth quarter. It expects to report a first-quarter loss of 3 cents to 5 cents per share. Wall Street analysts expected a profit of one cent per share, according to First Call.
Flextronics and Newport Corporation to Commercialize Fiber Optic Component Manufacturing
Development of Key Products and Technologies Will Significantly Benefit Fiber-Optic Communications Marketplace
SINGAPORE and IRVINE, Calif., March 15 /PRNewswire-FirstCall/ -- Flextronics Photonics, a business unit of Flextronics (Nasdaq: FLEX - news), and Newport Corporation (Nasdaq: NEWP - news) today announced the signing of an agreement whereby Flextronics will transfer certain elements of its optical component manufacturing technology to Newport, and Newport will develop next-generation assembly automation systems to commercialize this proven process technology.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010815/FLEXLOGO )
By acquiring Flextronics` direct fiber coupling and solder attachment processes, Newport will be able to develop a standardized platform for automating key fiber-optics packaging processes that have been Telcordia qualified for numerous applications. In addition to an upfront fee and royalties, Flextronics will receive preferential pricing for the equipment developed. Additionally, Newport will become the exclusive provider for all fiber optic alignment and attachment systems for Flextronics Photonics on a global basis.
``Newport is the right company to leverage our technology, deploy its methodology, and set the standard in developing and marketing manufacturing automation equipment for the fiber optic components market,`` said Michael E. Marks, Chairman and Chief Executive Officer of Flextronics. ``Since Flextronics is not in the business of making manufacturing equipment this agreement will allow us to obtain state-of-the-art manufacturing solutions based on our process technology, while contributing to setting an industry standard within the fiber optic marketplace.``
Robert G. Deuster, Newport`s Chairman and Chief Executive Officer, added ``Increasingly we find our customers turning to the efficient manufacturing solutions offered by subcontractors such as Flextronics. This agreement extends Newport`s leadership in providing precision automation assembly tools and processes to fiber optic component manufacturers, whether they build their own or outsource. We believe that Flextronics` Telcordia-qualified solder attachment process has the potential to reduce packaging costs in a variety of applications, and serves as an excellent complement to Newport`s well- established laser welding and epoxy bonding technologies. We look for this partnership to help accelerate the drive toward establishing manufacturing standardization within the fiber optic component manufacturing marketplace.``
The joint development of the automated equipment began in January 2002, and will be completed in the first half of 2002. In addition, the two companies are developing a joint technology roadmap for the continued development of future automated manufacturing solutions.
About Flextronics Photonics
Flextronics Photonics, a business unit of Flextronics, provides design, industrialization, supply chain management and manufacturing services for the optical component and optical networking industries. As the world`s largest non-captive photonic component manufacturer, Flextronics Photonics offers advanced photonic design, leading-edge process development and volume manufacturing of active and passive photonics. For further information, please visit the Flextronics Web site at www.flextronics.com.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index. For further information, please visit the Newport Corporation Web site at www.newport.com.
This release contains forward-looking statements and information relating to Flextronics and Newport that are based on the companies` beliefs as well as assumptions made by and information currently available to them. These forward-looking statements involve a number of risks and uncertainties that may cause results to vary from expectations. Actual results could differ materially from those projected in such forward-looking statements. Information concerning certain factors that could cause actual results to differ materially is included in the companies` Forms 10-Q and 10-K filed recently with the SEC. The forward-looking statements in this news release are based on current expectations. Neither company assumes any obligation to update these forward-looking statements.
SOURCE: Flextronics
Development of Key Products and Technologies Will Significantly Benefit Fiber-Optic Communications Marketplace
SINGAPORE and IRVINE, Calif., March 15 /PRNewswire-FirstCall/ -- Flextronics Photonics, a business unit of Flextronics (Nasdaq: FLEX - news), and Newport Corporation (Nasdaq: NEWP - news) today announced the signing of an agreement whereby Flextronics will transfer certain elements of its optical component manufacturing technology to Newport, and Newport will develop next-generation assembly automation systems to commercialize this proven process technology.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010815/FLEXLOGO )
By acquiring Flextronics` direct fiber coupling and solder attachment processes, Newport will be able to develop a standardized platform for automating key fiber-optics packaging processes that have been Telcordia qualified for numerous applications. In addition to an upfront fee and royalties, Flextronics will receive preferential pricing for the equipment developed. Additionally, Newport will become the exclusive provider for all fiber optic alignment and attachment systems for Flextronics Photonics on a global basis.
``Newport is the right company to leverage our technology, deploy its methodology, and set the standard in developing and marketing manufacturing automation equipment for the fiber optic components market,`` said Michael E. Marks, Chairman and Chief Executive Officer of Flextronics. ``Since Flextronics is not in the business of making manufacturing equipment this agreement will allow us to obtain state-of-the-art manufacturing solutions based on our process technology, while contributing to setting an industry standard within the fiber optic marketplace.``
Robert G. Deuster, Newport`s Chairman and Chief Executive Officer, added ``Increasingly we find our customers turning to the efficient manufacturing solutions offered by subcontractors such as Flextronics. This agreement extends Newport`s leadership in providing precision automation assembly tools and processes to fiber optic component manufacturers, whether they build their own or outsource. We believe that Flextronics` Telcordia-qualified solder attachment process has the potential to reduce packaging costs in a variety of applications, and serves as an excellent complement to Newport`s well- established laser welding and epoxy bonding technologies. We look for this partnership to help accelerate the drive toward establishing manufacturing standardization within the fiber optic component manufacturing marketplace.``
The joint development of the automated equipment began in January 2002, and will be completed in the first half of 2002. In addition, the two companies are developing a joint technology roadmap for the continued development of future automated manufacturing solutions.
About Flextronics Photonics
Flextronics Photonics, a business unit of Flextronics, provides design, industrialization, supply chain management and manufacturing services for the optical component and optical networking industries. As the world`s largest non-captive photonic component manufacturer, Flextronics Photonics offers advanced photonic design, leading-edge process development and volume manufacturing of active and passive photonics. For further information, please visit the Flextronics Web site at www.flextronics.com.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace research and industrial metrology markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index. For further information, please visit the Newport Corporation Web site at www.newport.com.
This release contains forward-looking statements and information relating to Flextronics and Newport that are based on the companies` beliefs as well as assumptions made by and information currently available to them. These forward-looking statements involve a number of risks and uncertainties that may cause results to vary from expectations. Actual results could differ materially from those projected in such forward-looking statements. Information concerning certain factors that could cause actual results to differ materially is included in the companies` Forms 10-Q and 10-K filed recently with the SEC. The forward-looking statements in this news release are based on current expectations. Neither company assumes any obligation to update these forward-looking statements.
SOURCE: Flextronics
Newport Corporation to Sell Metrology Business; Company Also Announces Impact of FASB 142
IRVINE, Calif., April 11, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced its intent to sell the majority of its Industrial Metrology Systems Division in two transactions with unrelated strategic buyers. In the first transaction, Newport today signed an agreement to sell the contact measurement piece of its metrology business, primarily related to its CEJohansson subsidiary in Sweden, to Hexagon AB (Stockholmsborsen:HEXAB), based in Nacka Strand, Sweden. Hexagon is a multinational engineering company and parent of metrology company Brown and Sharpe, headquartered in North Kingstown, Rhode Island.
Separately, Newport also announced that it is in negotiations to sell its U.S.-based non-contact metrology business to a separate strategic buyer.
The total cash proceeds from both transactions are expected to be in the range of $10 to $12 million, and Newport expects to finalize both transactions in the second quarter of 2002. The transactions are expected to be immediately accretive to Newport`s operating results, because the sales will eliminate continuing losses in its metrology business. In addition, the transactions will allow Newport to focus its resources on the strategic parts of its business.
Newport`s combined metrology operations to be divested generated sales of approximately $24 million in 2001 and incurred operating losses of approximately $9 million. The business represented approximately $32 million of Newport`s total assets of $544 million as of December 31, 2001. Newport will discuss the expected impact of the sale on its projected future financial results in connection with its first quarter earnings announcement on April 23, 2002.
Additionally, Newport announced that it has substantially completed its analysis of the impact of Financial Accounting Standards Board Statement 142, which prescribes new rules for assessing goodwill impairment. As a result of this review, Newport expects to record a one-time charge of approximately $14.5 million in the first quarter of 2002. Pursuant to generally accepted accounting principles, the charge will be treated as a cumulative effect of accounting change and will be recorded after income from continuing operations. Accordingly, Newport will report income and earnings per share before and after this cumulative effect of accounting change. This non-cash charge will have no effect on Newport`s operating income or ongoing results.
Commenting on the metrology divestiture, Robert G. Deuster, Newport`s chairman and chief executive officer, said: ``A key growth strategy of our company has been to expand Newport`s product portfolio and services in order to become a leading single-source supplier of test, measurement and automation solutions to the fiber optic communications and semiconductor equipment markets. Divesting our metrology business, which primarily serves end markets outside of our strategic focus, will allow us to more aggressively deploy Newport`s resources to those areas that hold the greatest growth potential for our company. The structure of these transactions, which will allow us to retain rights to certain visual inspection and metrology technology, as well as our recent acquisitions, which have enhanced our overall vision technology portfolio, enable us to divest this non-strategic business while keeping intact the expertise in visual inspection and metrology technology that is critical to our product development efforts for our strategic markets.``
The divestiture will be accounted for as a discontinued operation pursuant to generally accepted accounting principles and, accordingly, the loss on the divestiture as well as the segment operating loss for the first quarter of 2002 will be shown as a charge after income from continuing operations. The effect on net income and earnings per share will be reported both including and excluding the charges. Newport expects to record a pre-tax loss from the discontinued operation in the first quarter of 2002 in the range of $3.5 to $4.5 million. Between $2.2 million and $3.2 million of the loss is expected to be related to the sale transactions and the remainder is due to the operating losses from this segment during the first quarter of 2002. In addition, pursuant to generally accepted accounting principles, all prior periods will be adjusted to reflect the financial results of this segment as a discontinued operation. The adjustment to Newport`s fiscal year 2001 results as a result of the discontinued operation is expected to decrease 2001 sales by $24 million and increase pro forma diluted earnings per share from continuing operations by $0.14.
Deuster continued: ``This action culminates a busy beginning of the year for Newport, in which we have added a new general manager of our Fiber Optics and Photonics Division; finalized our acquisition of Micro Robotics Systems, Inc.; signed significant technology acquisition and marketing agreements with Flextronics Photonics, a business unit of Flextronics (Nasdaq:FLEX - news); and introduced seven new products at this spring`s Optical Fiber Conference 2002. Newport`s full attention for the balance of the 2002 year will be focused on continuing to extend our market leadership role in our strategic markets, while being mindful of the commitment we have to our stockholders to increase enterprise value in all market conditions,`` Deuster said.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results and the expected impact of the adoption of Financial Accounting Standards Board Statement 142, and the statements made by Robert Deuster are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully consummate the proposed transactions; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson/Michael Pollock
310.207.9300
investor@pondel.com
IRVINE, Calif., April 11, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced its intent to sell the majority of its Industrial Metrology Systems Division in two transactions with unrelated strategic buyers. In the first transaction, Newport today signed an agreement to sell the contact measurement piece of its metrology business, primarily related to its CEJohansson subsidiary in Sweden, to Hexagon AB (Stockholmsborsen:HEXAB), based in Nacka Strand, Sweden. Hexagon is a multinational engineering company and parent of metrology company Brown and Sharpe, headquartered in North Kingstown, Rhode Island.
Separately, Newport also announced that it is in negotiations to sell its U.S.-based non-contact metrology business to a separate strategic buyer.
The total cash proceeds from both transactions are expected to be in the range of $10 to $12 million, and Newport expects to finalize both transactions in the second quarter of 2002. The transactions are expected to be immediately accretive to Newport`s operating results, because the sales will eliminate continuing losses in its metrology business. In addition, the transactions will allow Newport to focus its resources on the strategic parts of its business.
Newport`s combined metrology operations to be divested generated sales of approximately $24 million in 2001 and incurred operating losses of approximately $9 million. The business represented approximately $32 million of Newport`s total assets of $544 million as of December 31, 2001. Newport will discuss the expected impact of the sale on its projected future financial results in connection with its first quarter earnings announcement on April 23, 2002.
Additionally, Newport announced that it has substantially completed its analysis of the impact of Financial Accounting Standards Board Statement 142, which prescribes new rules for assessing goodwill impairment. As a result of this review, Newport expects to record a one-time charge of approximately $14.5 million in the first quarter of 2002. Pursuant to generally accepted accounting principles, the charge will be treated as a cumulative effect of accounting change and will be recorded after income from continuing operations. Accordingly, Newport will report income and earnings per share before and after this cumulative effect of accounting change. This non-cash charge will have no effect on Newport`s operating income or ongoing results.
Commenting on the metrology divestiture, Robert G. Deuster, Newport`s chairman and chief executive officer, said: ``A key growth strategy of our company has been to expand Newport`s product portfolio and services in order to become a leading single-source supplier of test, measurement and automation solutions to the fiber optic communications and semiconductor equipment markets. Divesting our metrology business, which primarily serves end markets outside of our strategic focus, will allow us to more aggressively deploy Newport`s resources to those areas that hold the greatest growth potential for our company. The structure of these transactions, which will allow us to retain rights to certain visual inspection and metrology technology, as well as our recent acquisitions, which have enhanced our overall vision technology portfolio, enable us to divest this non-strategic business while keeping intact the expertise in visual inspection and metrology technology that is critical to our product development efforts for our strategic markets.``
The divestiture will be accounted for as a discontinued operation pursuant to generally accepted accounting principles and, accordingly, the loss on the divestiture as well as the segment operating loss for the first quarter of 2002 will be shown as a charge after income from continuing operations. The effect on net income and earnings per share will be reported both including and excluding the charges. Newport expects to record a pre-tax loss from the discontinued operation in the first quarter of 2002 in the range of $3.5 to $4.5 million. Between $2.2 million and $3.2 million of the loss is expected to be related to the sale transactions and the remainder is due to the operating losses from this segment during the first quarter of 2002. In addition, pursuant to generally accepted accounting principles, all prior periods will be adjusted to reflect the financial results of this segment as a discontinued operation. The adjustment to Newport`s fiscal year 2001 results as a result of the discontinued operation is expected to decrease 2001 sales by $24 million and increase pro forma diluted earnings per share from continuing operations by $0.14.
Deuster continued: ``This action culminates a busy beginning of the year for Newport, in which we have added a new general manager of our Fiber Optics and Photonics Division; finalized our acquisition of Micro Robotics Systems, Inc.; signed significant technology acquisition and marketing agreements with Flextronics Photonics, a business unit of Flextronics (Nasdaq:FLEX - news); and introduced seven new products at this spring`s Optical Fiber Conference 2002. Newport`s full attention for the balance of the 2002 year will be focused on continuing to extend our market leadership role in our strategic markets, while being mindful of the commitment we have to our stockholders to increase enterprise value in all market conditions,`` Deuster said.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results and the expected impact of the adoption of Financial Accounting Standards Board Statement 142, and the statements made by Robert Deuster are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully consummate the proposed transactions; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson/Michael Pollock
310.207.9300
investor@pondel.com
4:30PM Newport Corp beats by 2 cents, guides Q2 down (NEWP) 23.45 -0.59: Reports Q1 pro forma loss of $0.02, $0.02 better than the Multex consensus; revs were $43.9 mln, vs consensus of $45.1 mln. Co expects a Q2 loss of $0.03-$0.07 and sales of $38-$42 mln, vs consensus of a loss of $0.02 and $47.5 mln.
Newport Corporation Completes Sale of Contact Measurement Metrology Operation to Hexagon AB of Sweden
IRVINE, Calif., May 13, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that it has completed the previously announced sale of the contact measurement portion of its industrial metrology business to Hexagon AB (Stockholmsborsen:HEXAB), in Nacka Strand, Sweden. Hexagon is a multinational engineering company and parent of metrology company Brown and Sharpe, headquartered in North Kingstown, Rhode Island.
The transaction, primarily involving Newport`s CEJohansson subsidiary in Sweden, concludes the first step in a two-part plan by the company to divest itself of a majority of its Industrial Metrology Systems Division. The second part of the divestiture involves the sale of the company`s U.S.-based non-contact metrology business to a separate strategic buyer. Newport is negotiating purchase agreements with that buyer and expects to complete the transaction during the second quarter of 2002.
Total cash proceeds from both transactions are expected to be in the range of $10 to $12 million, and the transactions are expected to be accretive to Newport`s operating results. In 2001, the company`s combined metrology operations generated sales of approximately $24 million and incurred operating losses of approximately $9 million.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment and aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully divest certain of its operations; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com/Investors
Cecilia A. Wilkinson
PondelWilkinson MS&L
310.207.9300
investor@pondel.com
IRVINE, Calif., May 13, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced that it has completed the previously announced sale of the contact measurement portion of its industrial metrology business to Hexagon AB (Stockholmsborsen:HEXAB), in Nacka Strand, Sweden. Hexagon is a multinational engineering company and parent of metrology company Brown and Sharpe, headquartered in North Kingstown, Rhode Island.
The transaction, primarily involving Newport`s CEJohansson subsidiary in Sweden, concludes the first step in a two-part plan by the company to divest itself of a majority of its Industrial Metrology Systems Division. The second part of the divestiture involves the sale of the company`s U.S.-based non-contact metrology business to a separate strategic buyer. Newport is negotiating purchase agreements with that buyer and expects to complete the transaction during the second quarter of 2002.
Total cash proceeds from both transactions are expected to be in the range of $10 to $12 million, and the transactions are expected to be accretive to Newport`s operating results. In 2001, the company`s combined metrology operations generated sales of approximately $24 million and incurred operating losses of approximately $9 million.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment and aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of Newport to successfully divest certain of its operations; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation, Irvine
Charles F. Cargile, Vice President, Chief Financial Officer
949.253.1273
investor@newport.com
www.newport.com/Investors
Cecilia A. Wilkinson
PondelWilkinson MS&L
310.207.9300
investor@pondel.com
Newport Corporation Completes Sale of U.S.-Based Metrology Assets
Transaction Concludes Two-Step Plan to Divest Metrology Systems Division
IRVINE, Calif., June 3, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced it has completed the sale of its U.S.-based non-contact metrology business to an affiliate of Optical Gaging Products (OGP) of Rochester, New York, a privately held designer and manufacturer of precision non-contact and multi-sensor coordinate-measuring systems used for dimensional inspection. The transaction is the second part of an earlier announced two-step plan by Newport to sell the majority of its Industrial Metrology Systems Division.
On May 13, 2002, Newport announced that it had completed the first step in this plan by selling its contact measurement metrology business, primarily relating to its CEJohansson subsidiary in Sweden, to Hexagon AB (Stockhomsborsen:HEXAB), also based in Sweden. Hexagon is a multinational engineering company and parent of Brown and Sharpe, a metrology company headquartered in North Kingstown, Rhode Island.
Total cash proceeds from both transactions, as announced earlier, are expected to be approximately $11 million. The transactions will be accretive to Newport`s operating results as the divestitures eliminate continuing losses in the company`s metrology business.
Newport`s combined metrology operations generated sales of approximately $24 million in 2001 and incurred operating losses of approximately $9 million. The business represented approximately $32 million of Newport`s total assets of $544 million as of December 31, 2001.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the effect of any post-closing adjustments on the proceeds received from the sales; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson/Michael Pollock
(310) 207-9300
investor@pondel.com
Transaction Concludes Two-Step Plan to Divest Metrology Systems Division
IRVINE, Calif., June 3, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP - news) today announced it has completed the sale of its U.S.-based non-contact metrology business to an affiliate of Optical Gaging Products (OGP) of Rochester, New York, a privately held designer and manufacturer of precision non-contact and multi-sensor coordinate-measuring systems used for dimensional inspection. The transaction is the second part of an earlier announced two-step plan by Newport to sell the majority of its Industrial Metrology Systems Division.
On May 13, 2002, Newport announced that it had completed the first step in this plan by selling its contact measurement metrology business, primarily relating to its CEJohansson subsidiary in Sweden, to Hexagon AB (Stockhomsborsen:HEXAB), also based in Sweden. Hexagon is a multinational engineering company and parent of Brown and Sharpe, a metrology company headquartered in North Kingstown, Rhode Island.
Total cash proceeds from both transactions, as announced earlier, are expected to be approximately $11 million. The transactions will be accretive to Newport`s operating results as the divestitures eliminate continuing losses in the company`s metrology business.
Newport`s combined metrology operations generated sales of approximately $24 million in 2001 and incurred operating losses of approximately $9 million. The business represented approximately $32 million of Newport`s total assets of $544 million as of December 31, 2001.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace and research markets. The company`s innovative products are designed to enhance productivity and capabilities of test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release, including the expected effects of the transaction on Newport`s operating results, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to, among other things, the effect of any post-closing adjustments on the proceeds received from the sales; future economic, competitive and market conditions, including those in Europe and Asia and those related to Newport`s strategic markets, particularly the fiber optics and semiconductor equipment markets; whether the products offered by Newport will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Charles F. Cargile, Vice President, Chief Financial Officer
(949) 253-1273
investor@newport.com
www.newport.com/Investors
PondelWilkinson MS&L
Cecilia A. Wilkinson/Michael Pollock
(310) 207-9300
investor@pondel.com
Newport Corporation to Introduce New MRSI-375FC Flip Chip Bonder at Semicon West 2002; 10 Micron Placement Accuracy
NORTH BILLERICA, Mass., July 16, 2002 (PRIMEZONE) -- MRSI Group, a subsidiary of Newport Corporation (Nasdaq:NEWP - news), today announced that it will introduce its high-speed automated MRSI-375FC flip chip bonder at SEMICON West Back End 2002 in San Jose, California. The product is part of Newport`s advanced assembly and packaging equipment portfolio and can be seen in Booth No. 11035 in McEnery Hall, San Jose Convention Center, July 17 - 19, 2002.
The MRSI-375FC performs parallel processing of flip chip devices to achieve high throughput. Some of its advanced features include 10 micron placement accuracy, an automatic wafer changer, a wafer picking component with flipper, closed-loop force control, and an advanced flux dipping station.
``Demand for flip chip interconnect technology is being driven by a number of factors from all corners of the silicon industry,`` said Neil Srivastava, vice president and general manager of Newport`s MRSI Group. ``The MRSI-375FC features a modular system design which allows multiple machines to be linked together to meet virtually any throughput requirement. The MRSI-375FC further extends our leadership position in assembly and dispensing technology for the semiconductor and microelectronics industries.``
For more information on the MRSI-375FC flip chip bonder, go to the Web site at http://www.newport.com/photonics/Products/Die_Bonding_and_Dispense/." target="_blank" rel="nofollow ugc noopener">http://www.newport.com/photonics/Products/Die_Bonding_and_Dispense/. For information about Newport Corporation`s other products, go to http://www.newport.com.
MRSI Group, a wholly owned subsidiary of Newport Corporation, is a leading supplier of dispense and assembly systems for the semiconductor, microelectronics and electronic packaging industries.
Customers and investors who are also interested in Newport`s front-end automation products are invited to view them at SEMICON West 2002 from July 22-24, 2002 at San Francisco`s Moscone Convention Center, Booth 436 in South Hall.
About Newport Corporation
Newport Corporation is a leading global supplier of advanced technology products and systems to the semiconductor, communications, electronics and research markets. The company provides components and integrated subsystems to manufacturers of semiconductor processing equipment, advanced automated assembly and test systems to manufacturers of communications and electronics devices, and a broad array of high-precision components and instruments to commercial, academic and government customers worldwide. Newport`s innovative solutions leverage its expertise in precision robotics and automation, sub-micron positioning systems, vibration isolation and optical subsystems to enhance the capabilities and productivity of its customers` manufacturing, engineering and research applications. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release made by Neil Srivastava are `forward-looking` statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to various matters, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the `forward-looking` statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in `forward-looking` statements will be realized. In light of the significant uncertainties inherent in the `forward-looking` information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the `forward-looking` statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Gary Spiegel, Vice President, Worldwide Sales & Marketing
(949) 863-3144
gspiegel@newport.com
www.newport.com
PondelWilkinson MS&L
Michael Pollock
(323) 866-6060
mpollock@pondel.com
NORTH BILLERICA, Mass., July 16, 2002 (PRIMEZONE) -- MRSI Group, a subsidiary of Newport Corporation (Nasdaq:NEWP - news), today announced that it will introduce its high-speed automated MRSI-375FC flip chip bonder at SEMICON West Back End 2002 in San Jose, California. The product is part of Newport`s advanced assembly and packaging equipment portfolio and can be seen in Booth No. 11035 in McEnery Hall, San Jose Convention Center, July 17 - 19, 2002.
The MRSI-375FC performs parallel processing of flip chip devices to achieve high throughput. Some of its advanced features include 10 micron placement accuracy, an automatic wafer changer, a wafer picking component with flipper, closed-loop force control, and an advanced flux dipping station.
``Demand for flip chip interconnect technology is being driven by a number of factors from all corners of the silicon industry,`` said Neil Srivastava, vice president and general manager of Newport`s MRSI Group. ``The MRSI-375FC features a modular system design which allows multiple machines to be linked together to meet virtually any throughput requirement. The MRSI-375FC further extends our leadership position in assembly and dispensing technology for the semiconductor and microelectronics industries.``
For more information on the MRSI-375FC flip chip bonder, go to the Web site at http://www.newport.com/photonics/Products/Die_Bonding_and_Dispense/." target="_blank" rel="nofollow ugc noopener">http://www.newport.com/photonics/Products/Die_Bonding_and_Dispense/. For information about Newport Corporation`s other products, go to http://www.newport.com.
MRSI Group, a wholly owned subsidiary of Newport Corporation, is a leading supplier of dispense and assembly systems for the semiconductor, microelectronics and electronic packaging industries.
Customers and investors who are also interested in Newport`s front-end automation products are invited to view them at SEMICON West 2002 from July 22-24, 2002 at San Francisco`s Moscone Convention Center, Booth 436 in South Hall.
About Newport Corporation
Newport Corporation is a leading global supplier of advanced technology products and systems to the semiconductor, communications, electronics and research markets. The company provides components and integrated subsystems to manufacturers of semiconductor processing equipment, advanced automated assembly and test systems to manufacturers of communications and electronics devices, and a broad array of high-precision components and instruments to commercial, academic and government customers worldwide. Newport`s innovative solutions leverage its expertise in precision robotics and automation, sub-micron positioning systems, vibration isolation and optical subsystems to enhance the capabilities and productivity of its customers` manufacturing, engineering and research applications. Newport is part of the Standard & Poor`s Midcap 400 Index and the Russell 2000 Index.
The statements in this news release made by Neil Srivastava are `forward-looking` statements that involve a number of risks and uncertainties. As discussed in Newport`s Annual Report on Form 10-K for the year ended December 31, 2001, assumptions relating to the foregoing involve judgments with respect to various matters, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the `forward-looking` statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in `forward-looking` statements will be realized. In light of the significant uncertainties inherent in the `forward-looking` information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport`s objectives or plans will be achieved. Newport undertakes no obligation to revise the `forward-looking` statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Contact:
Newport Corporation
Gary Spiegel, Vice President, Worldwide Sales & Marketing
(949) 863-3144
gspiegel@newport.com
www.newport.com
PondelWilkinson MS&L
Michael Pollock
(323) 866-6060
mpollock@pondel.com
Tuesday July 16, 12:00 pm Eastern Time
Reuters Company News
RESEARCH ALERT-CSFB starts Newport, Tekronix, Agilent
NEW YORK, July 16 (Reuters) - Credit Suisse First Boston said on Tuesday it has begun investment coverage of Newport Corp. (NasdaqNM:NEWP - News) -- which provides precision components used in aerospace and fiber-optics -- with a "buy" rating and a $20 12-month price target.
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In a brief note, the brokerage added that it has also started investment coverage of computer and electronics test equipment maker Tektronix Inc. (NYSE:TEK - News) with a "hold" recommendation and a $20 price target.
Electronics equipment maker Agilent Technologies Inc. (NYSE:A - News) was started as a "hold", with a $25 price target, CSFB said in the note, which had no further details. Newport shares ended on Monday at $15.57, Tektronic finished at $19, and Agilent at $23.57.
Reuters Company News
RESEARCH ALERT-CSFB starts Newport, Tekronix, Agilent
NEW YORK, July 16 (Reuters) - Credit Suisse First Boston said on Tuesday it has begun investment coverage of Newport Corp. (NasdaqNM:NEWP - News) -- which provides precision components used in aerospace and fiber-optics -- with a "buy" rating and a $20 12-month price target.
ADVERTISEMENT
In a brief note, the brokerage added that it has also started investment coverage of computer and electronics test equipment maker Tektronix Inc. (NYSE:TEK - News) with a "hold" recommendation and a $20 price target.
Electronics equipment maker Agilent Technologies Inc. (NYSE:A - News) was started as a "hold", with a $25 price target, CSFB said in the note, which had no further details. Newport shares ended on Monday at $15.57, Tektronic finished at $19, and Agilent at $23.57.
Tuesday July 23, 5:20 pm Eastern Time
Reuters Company News
Newport posts loss vs. profit as sales plunge
IRVINE, Calif., July 23 (Reuters) - Newport Corp. (NasdaqNM:NEWP - News), which provides precision components used in aerospace and fiber-optics, on Tuesday reported a second-quarter loss as sales plunged on weak demand from the telecommunications industry.
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Newport posted a net loss of $7.4 million, or 19 cents per share, compared with a net profit of $12.1 million, or 32 cents per share in the year-ago period.
Excluding a one-time charge to write down investments in two fiber optic component makers, Newport reported a loss from continuing operations of $1.0 million, or 3 cents per share. Analysts surveyed by Thomson First Call had forecast a loss of 5 cents per share.
Newport said net sales fell to $44.0 million from $93.7 million a year earlier.
Looking ahead, the Irvine, California-based company said it expects third-quarter sales of $48 million to $51 million and earnings per share of nil to 2 cents from continuing operations.
Reuters Company News
Newport posts loss vs. profit as sales plunge
IRVINE, Calif., July 23 (Reuters) - Newport Corp. (NasdaqNM:NEWP - News), which provides precision components used in aerospace and fiber-optics, on Tuesday reported a second-quarter loss as sales plunged on weak demand from the telecommunications industry.
ADVERTISEMENT
Newport posted a net loss of $7.4 million, or 19 cents per share, compared with a net profit of $12.1 million, or 32 cents per share in the year-ago period.
Excluding a one-time charge to write down investments in two fiber optic component makers, Newport reported a loss from continuing operations of $1.0 million, or 3 cents per share. Analysts surveyed by Thomson First Call had forecast a loss of 5 cents per share.
Newport said net sales fell to $44.0 million from $93.7 million a year earlier.
Looking ahead, the Irvine, California-based company said it expects third-quarter sales of $48 million to $51 million and earnings per share of nil to 2 cents from continuing operations.
Reuters
Newport Corp. posts wider loss, cuts more jobs
Tuesday October 22, 4:01 pm ET
IRVINE, Calif., Oct 22 (Reuters) - Technology company Newport Corp.(NasdaqNM:NEWP - News) on Tuesday said its third-quarter loss widened from a year earlier, and said it planned more than 300 job cuts, citing order cancellations and a delayed recovery in the semiconductor industry.
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The company said its loss from continuing operations widened to $59.4 million or $1.55 per share, from a loss of $21.2 million or 58 cents per share in the same quarter of last year.
Including charges for discontinued operations, Newport said its net loss was $68.6 million or $1.79 per share. Sales from continuing operations fell to $45.5 million from $57.2 million.
President and Chief Executive Officer Robert Duester said "due to weak conditions we are experiencing in all of our end markets," the company was reducing costs. Part of that was to reduce headcount by over 300. In August it had said it would cut 225-275 jobs.
Looking ahead, Newport said it expects to report a fourth-quarter loss of 10-13 cents per share with net sales of $32 million to $36 million.
Newport Corp. posts wider loss, cuts more jobs
Tuesday October 22, 4:01 pm ET
IRVINE, Calif., Oct 22 (Reuters) - Technology company Newport Corp.(NasdaqNM:NEWP - News) on Tuesday said its third-quarter loss widened from a year earlier, and said it planned more than 300 job cuts, citing order cancellations and a delayed recovery in the semiconductor industry.
ADVERTISEMENT
The company said its loss from continuing operations widened to $59.4 million or $1.55 per share, from a loss of $21.2 million or 58 cents per share in the same quarter of last year.
Including charges for discontinued operations, Newport said its net loss was $68.6 million or $1.79 per share. Sales from continuing operations fell to $45.5 million from $57.2 million.
President and Chief Executive Officer Robert Duester said "due to weak conditions we are experiencing in all of our end markets," the company was reducing costs. Part of that was to reduce headcount by over 300. In August it had said it would cut 225-275 jobs.
Looking ahead, Newport said it expects to report a fourth-quarter loss of 10-13 cents per share with net sales of $32 million to $36 million.
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