Newport reports records sales, orders

Feb. 5, 2011
Irvine, CA--Newport Corporation (Nasdaq: NEWP) reported  increased sales and orders across all of its end markets for the fourth quarter of 2010 compared to the same prior-year quarter. This growth was led by significantly higher orders from and sales to semiconductor equipment customers, which are included in the company's Microelectronics end market. 
Irvine, CA--Newport Corporation (Nasdaq: NEWP) reported increased sales and orders across all of its end markets for the fourth quarter of 2010 compared to the same prior-year quarter. This growth was led by significantly higher orders from and sales to semiconductor equipment customers, which are included in the company's Microelectronics end market.

Sales in the fourth quarter of 2010 were a record $132.9 million, an increase of 30.8% compared with the $101.6 million recorded in the fourth quarter of 2009. Sales for the full year of 2010 were $479.8 million, a 30.7% increase over the $367.0 million recorded during 2009. New orders were a record $130.4 million, a 20.4% increase over the fourth quarter of 2009. The company's new income was $15.2 million.

Robert J. Phillippy, Newport's President and Chief Executive Officer, stated, "The Newport team delivered an excellent financial performance in the fourth quarter and full year of 2010. We experienced strong demand in all of our end markets, and executed very effectively. Our 2010 sales of $479.8 million and orders of $510.1 million were both all-time records for our company. Due to this book-to-bill ratio of 1.06, we entered 2011 with $129.6 million of backlog scheduled to ship in the next 12 months, a significantly higher level than the $102.1 million we had a year ago."

Trends noted by the company include: a sequential sales increase of 6.1% in the fourth quarter of 2010 compared with the third quarter of 2010, driven by increases in the company's Life and Health Sciences, Scientific Research and Industrial Manufacturing end markets; and orders in the fourth quarter of 2010 slightly higher than the third quarter of 2010, as increases in orders from customers in the company's Scientific Research and Industrial Manufacturing and Other end markets were substantially offset by slight reductions in orders from customers in its Microelectronics and Life and Health Sciences markets.
Commenting on the company's financial outlook, Mr. Phillippy stated, "We are very excited about our opportunities for continued sales and earnings growth in 2011. Our excellent performance in 2010 has given us momentum for the current year. On a year-over-year basis, we expect our sales in the first quarter of 2011 to increase approximately 15% over the $107.2 million recorded in the first quarter of 2010. We also expect our earnings per diluted share in the first quarter of 2011 to nearly double compared with the $0.14 per diluted share recorded in the prior year period. In addition, based on our strong market presence and operational execution, we are confident that we will achieve continued sales and earnings growth throughout 2011."Source: www.newport.comPosted by Steve AndersonFollow us on TwitterSubscribe now to Laser Focus World magazine; It’s free!

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