Newport Electronics Inc. Reports Turnaround Year

Newport Electronics Inc., a Santa Ana manufacturer of digital display and control panel instruments, reported a financial rebound for the fourth quarter and full year of calendar 1984. The company attributed its emergence from red ink to a stronger capital equipment market and the success of a new product line.

For the fourth quarter, Newport Electronics said it earned $155,000, in contrast with a $240,000 loss for the previous year’s period. Sales increased 32%, to $2.79 million from $2.1 million.

For the full year, the company reported net income of $560,000, while in 1983 it posted a loss of $526,000. Sales rose 28%, to $11 million from $8.6 million.

Barrett B. Weekes, Newport Electronics’ chairman and chief executive, said of 1984, “The capital equipment market improved significantly, which benefited our sales of digital display control panel meters. In addition, our Quanta meter line, which was introduced in late 1983, became our most successful product family in its first full year.”