Newport Corporation reports third-quarter 2010 results

Oct. 29, 2010
Newport Corporation (Nasdaq: NEWP) reported upbeat financial results for its third quarter and nine months ended October 2, 2010.

Irvine, CA--Newport Corporation (Nasdaq: NEWP) reported upbeat financial results for its third quarter and nine months ended October 2, 2010. The results include:

--Recorded $125.2 million in net sales, a 41.7% increase over the third quarter of 2009, and the highest quarterly revenue level in the company's history;

--Received $129.5 million in new orders, a 39.9% increase over the third quarter of 2009, and the second-highest level in the company's history;

--Achieved net income of $12.6 million, or $0.34 per diluted share (driven by higher sales and margins with a lower tax rate adding $0.02); and

--Increased its total cash, cash equivalents, and marketable securities position by $12.7 million, to $165.1 million.

Gross margins of 42.9% were weaker than the company's expectations (43.7%), but were affected negatively 1% by a non-recurring cost from the July 2010 divestiture of Hilger Crystals. Operating margins increased 10.3% y/y and 1.8% q/q to 12.3%.

Robert J. Phillippy, Newport's president and CEO, noted that Newport's orders in the first nine months of 2010 were $379.7 million and its book-to-bill ratio for that period was 1.09, increasing the company's backlog scheduled to ship in the next 12 months to $132.0 million from $95.0 million a year ago.

Sales for the first nine months of 2010 were $346.9 million, a 30.7% increase over the $265.4 million recorded in the first nine months of 2009. The company's book-to-bill ratio remains above one at 1.03. Its backlog grew to $132M (+39% y/y and 6% q/q).

Follow us on Twitter

Subscribe now to Laser Focus World magazine; it’s free!

About the Author

John Wallace | Senior Technical Editor (1998-2022)

John Wallace was with Laser Focus World for nearly 25 years, retiring in late June 2022. He obtained a bachelor's degree in mechanical engineering and physics at Rutgers University and a master's in optical engineering at the University of Rochester. Before becoming an editor, John worked as an engineer at RCA, Exxon, Eastman Kodak, and GCA Corporation.

Sponsored Recommendations

What AI demands mean for data centers

Nov. 28, 2023
The 2023 Photonics-Enabled Cloud Computing Summit assembled by Optica took an aggressive approach to calling out the limitations of today’s current technologies.

SLP feature for lighting control available on cameras offering

Nov. 28, 2023
A proprietary structured light projector (SLP) feature is now available on the company’s camera series, including the ace 2, boost R, ace U, and ace L.

Chroma Customer Spotlight - Dr. David Warshaw, About his Lab

Nov. 27, 2023
David Warshaw, Professor and Chair of Molecular Physiology and Biophysics at the University of Vermont (UVM), walks us through his lab. Learn about his lab’s work with the protein...

Catalog of Filters and Filter Sets

Nov. 27, 2023
This price list provides information about the filter sets Chroma Technology has created for the multitude of fluorochromes that are typically used in epi-fluorescence microscopy...

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!