Newport Profits Jump in Second Quarter
IRVINE, Calif., July 31, 2014 — Newport Corp. closed the second quarter of 2014 with earnings of $8.997 million, compared to $2.605 million in the second quarter of 2013, an increase of 245 percent.
On a sequential basis, sales rose 4.3 percent to $153 million and orders increased 1.2 percent to $149 million. The company said sales were especially strong in its microelectronics and defense and security segments, while life and health sciences, scientific research and industrial manufacturing saw lower sales. The year-over-year increase in orders was driven by scientific research and industrial manufacturing end markets, offset by decreased orders for life and health sciences products.
The company expects third-quarter sales to be in the range of $148 million to $153 million, which would represent an increase of 7 percent to 10 percent over the third quarter of 2013.
Newport produces lasers, photonics and precision motion equipment, as well as optical components and sub-systems for manufacturing, engineering and research applications.
For more information, visit www.newport.com.
MORE FROM PHOTONICS MEDIA