Newport Corp. Confirms Layoff of 150

Newport Corp., which reported Wednesday that it lost $14 million for its latest fiscal year, confirmed Thursday that it laid off 150 workers in the spring and summer.

Most of the loss piled up when the company, a maker of laser research equipment, closed down five buildings in Fountain Valley, where it was founded, and moved its headquarters and factories in August to a single building in Irvine. The move is expected to save money eventually.

A “substantial portion” of the layoffs were in Orange County. The laid-off workers account for 15% of Newport’s 950 workers worldwide.

Newport Corp. had said in June, when it announced the restructuring of the Fountain Valley operation, that it would lay off workers, but it did not say how many. No more layoffs are planned, said Robert Hewitt, senior vice president of finance.

Newport’s sales are off because cuts in defense spending mean companies that make military and aerospace products are buying less laser and optical research equipment. Government cuts in research funding mean research institutions are buying less too.

Newport expects to return to “modest profitability” next year, Hewitt said.