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

Newport Corp., a Fountain Valley manufacturer of laser equipment, reported that net income for its third quarter ended April 30 declined 8%, to $1.8 million from $2 million for the corresponding 1988 quarter. Sales increased 6%, to $14.6 million from $13.8 million. For the 9 months, net income rose 5%, to $5.3 million from $5.1 million for the like period in 1988. Sales increased 11%, to $42.7 million from $38.6 million. Thomas Galantowicz, president, said the third-quarter sales increase was less than the company planned “and reflected reduced orders growth in domestic and international markets.” He said profits declined because of expenses related to product introductions and investments for productivity improvement.