Newport Announces First Quarter Results

IRVINE, Calif., April 22 -- Newport Corp. reported net income for first quarter 1999 of $0.9 million, or 10 cents per diluted share, on net sales of $29.4 million. 1998 first quarter net income for the company was $2.0 million, or 21 cents per diluted share, on net sales of $33.7 million. Figures for the first quarter 1999 reflect a one-time foreign exchange loss of $0.2 million, or 2 cents per diluted share, a result of the recent strengthening of the U.S. dollar against the Euro.
As previously announced, the lower sales for the quarter were primarily due to the continued soft semiconductor equipment market, as well as the delayed introduction of new vision products for the general metrology market.