Newport Pharmaceuticals International Inc. of Newport Beach...

Newport Pharmaceuticals International Inc. of Newport Beach reported net income of $267,000 for the first quarter, including a one-time gain of $165,000 from the repurchase of company debt securities. The results also reflect a reduction in the company’s research and development spending following completion of clinical trials on the drug Isoprinosine. The company had a loss of $190,000 in the same quarter last year. Revenue for the 3-month period was $9.5 million, compared with $8.5 million a year ago.