ORANGE COUNTY EARNINGS

Newport Corp.: The Irvine manufacturer of testing and measuring instruments posted record earnings and sales for the fourth quarter. Net income for the three months grew 53% to $2.6 million, or 28 cents a share, from $1.7 million, or 19 cents a share, for the 1996 fourth quarter. Sales were up 13% to $37 million from $32.6 million. For the year, net income rose 51% to $7.1 million, or 77 cents a share, from $4.7 million, or 52 cents a share, in 1996. Sales climbed 11% to $132.6 million from $119.9 million.