Newport Corp.: The Fountain Valley laboratory-equipment manufacturer’s...

Newport Corp.: The Fountain Valley laboratory-equipment manufacturer’s first-quarter net income fell to $540,000 from $1.1 million for the year-earlier quarter. Sales for the quarter ended Oct. 31 rose 8% to $14.9 million from $13.8 million. Tom Galantowicz, president, attributed the decline in earnings to several factors, including lower prices on products, continued investments in international markets, economic uncertainty and unanticipated losses in its marketable securities portfolio.