Newport Corp.: The Irvine manufacturer of equipment...
TIMES STAFF WRITER
Newport Corp.: The Irvine manufacturer of equipment for laser and optics technology development recorded profit of $744,000, or 8 cents a share, for the third quarter, 7% higher than the $698,000, or 8 cents a share, for the corresponding quarter last year. All amounts for the prior-year periods, including sales, net income and earnings per share, were restated to reflect the acquisitions of RAM Optical Instrumentation Inc. last February and Light Control Instruments, Inc. in March. Sales rose 6% to $24.3 million from $23 million. Year-to-date net income increased 14% to $2.4 million, or 28 cents a share, from the $2.1 million, or 25 cents a share, in the like period last year. Sales increased 8% to $74.1 million from $68.9 million.
