Newport Corp., a Fountain Valley manufacturer of...

Newport Corp., a Fountain Valley manufacturer of laser equipment, reported a 51% increase in net income for the fiscal year ended July 31, to $7.3 million from $4.8 million a year ago. Sales increased 20% to $53.4 million from $44.6 million for the previous year. In the fourth quarter, net income totaled $2.2 million, up 65% from the $1.3 million posted for the comparable 1987 period. Sales increased 17% to $14.9 million from $12.7 million for the prior-year quarter. The company said domestic sales increased 15% from the previous year, reflecting both an increase in domestic market share and expansion beyond its traditional customer base to original-equipment manufacturers and industrial end-user customers. International sales grew 45% to $11.5 million.