Newport Receives Outstanding Public Company Award

IRVINE, Calif., May 22 -- Newport Corp. announced that it has received the Outstanding Public Company Award from the Orange County Chapter of the American Electronics Association (AEA). The award, presented at the AEA's Eighth Annual Technology Awards ceremony held last week, 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 CEO. "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 about $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 using 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.