Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

Newport Cuts Outlook, Jobs

Photonics.com
Sep 2001
IRVINE, Calif., Sept. 17 -- Newport Corp. has reduced its outlook for sales and profits for the second half of fiscal 2001 because of continued weakness in its end-markets. The company said it would take a charge in the current quarter, its fiscal third, of $38.5 million to cover cost-cutting measures including between 350 and 375 layoffs, a higher total than had previously been announced. In July, Newport had said it would lay off between 180 and 200 staff.

The company projected revenues for the current quarter of $58 million to $62 million, which is $10 million to $14 million below previous estimates. Newport said fourth quarter sales will be flat compared with the current quarter.



Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.