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Profit Declines 33% at Newport Corp.

Newport Corp., a Fountain Valley-based manufacturer of instruments and components for laser and electro-optical applications, reported third-quarter net income of $1.2 million, down 33% from the $1.8 million posted for the corresponding 1989 period.

Sales for the quarter ended April 30 dipped slightly to $14.5 million from $14.6 million.

For the nine-month period, net income dropped 36% to $3.4 million from $5.3 million in the corresponding year-earlier period. Sales remained at $42.7 million.

Tom Galantowicz, company president, said sales for the latest quarter were below expectations because of continued weakness in the domestic market.

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He said income from operations continues to be negatively affected by underused production capacity, lower margins on sales to Japan and higher operating costs for the company’s international affiliates.


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