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Technology Stocks : Newport Corp.NEWP...lasers..semi..mfg...equipment..

NEWP 2.175

+3.6%

Oct 29 3:59 PM EDT

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To: techanalyst1 who wrote (171)	9/10/2001 6:34:17 PM
From: lightwave51	Read Replies (1) of 174

Newport cuts second-half outlook (NEWP) By August Cole Newport Corp. said Monday it's going to take a charge of $38.5 million during the third quarter, more than the $6 million to $10 million chargee it had previously announced because of inventory issues. For the $38.5 million charge, $32.5 milliion will be noncash. The company will also cut more jobs. The company said it sees weak demand continuing through the first half of 2002. Including 180 to 200 layoffs announced in July, Newport (NEWP) will now expand that to total 350 to 375 employees. As well, it's going to consolidate some facilities in California, Colorado and Sweden.

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