Newport Corporation to Review Record 2000 Results,
02/20/01 07:04 PM
Source: PR Newswire
URL: cnetinvestor.com
Plans for Continued Growth at Roth Capital Conference
- Company Expects Increased Sales, Earnings From Growing Primary Markets and Key Acquisitions -
IRVINE, Calif., Feb. 20 /PRNewswire/ -- Newport Corporation (Nasdaq: NEWP) today said it will review its results for 2000 and plans for growth in 2001 at Roth Capital Partners' 13th Annual Growth Stock Conference, focusing on its plans to generate more than $420 million in sales with increased profitability and orders as the leading single-source supplier of test, measurement and automation to the rapidly growing fiber optic communications and semiconductor equipment industries.
During the conference, Robert G. Deuster, president and chief executive officer, will also discuss Newport's achievements in 2000, pointing to the company's 254 percent net income increase as a provider of value added solutions in high-growth markets where sub-micron precision in manufacturing, test and assembly is critical.
"Our primary markets are in the fiber optic communications and semiconductor equipment industries," Deuster said. "As part of our presentation, we will review our positioning within these market segments and how we stand to benefit from the increasing demand for advanced manufacturing technology from fiber optic communications and semiconductor equipment manufacturers."
Charles F. Cargile, vice president and chief financial officer, will discuss Newport's record order rates which increased 146 percent to $379.9 million in 2000. Cargile also will review Newport's plans to further improve operating results in 2001, anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent. In addition, Cargile will provide guidance on Newport's financial goals over the next three to five years, noting that the company plans to achieve annual sales of between $800 million to $1 billion and operating margins of between 20 and 25 percent.
Rounding out the company's presentation, Deuster will discuss the importance of Newport's recent acquisitions and how the acquired technology will impact the company's future performance, both financially and operationally.
About Newport Corporation
Newport Corporation is a global leader in the design, manufacture and marketing of high precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, scientific research and industrial metrology markets.
The statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. As discussed in Newport's Annual Report on Form 10-K for the year ended December 31, 1999, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport's objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Newport Corporation
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