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Technology Stocks : Newport Corporation (NasdaqNM:NEWP)

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To: Sully- who wrote (40)	2/21/2001 6:12:00 AM
From: Sully-	Read Replies (1) of 45

Wednesday February 21, 12:13 am Eastern Time Newport Corp sees 66 pct growth in sales in 2001 IRVINE, California, Feb 20 (Reuters) - Newport Corp (NasdaqNM:NEWP - news), whose products are used for assembling and testing fiber optic semiconductors, said on Tuesday it is targeting a 66 percent jump in sales in 2001 to $420 million, citing improved margins. The Irvine, California-based company cited ``rapidly growing fiber optic communications and semiconductor equipment industries'' in its statement. Newport said its executives plan to address financial goals and projections at a stocks conference Wednesday in Laguna Niguel, California. Specifically, Newport is anticipating gross margins to range between 44 and 45 percent and operating margins of 15 to 17 percent for 2001, the company said. Over the next three to five years, the company said it plans to book annual sales of between $800 million to $1 billion, with operating margins of between 20 and 25 percent. Newport shares finished off $9-11/16 at $53-3/4 on the Nasdaq on Tuesday. The stock has a 52-week high of $192-1/16 and a 52-week low of $22-5/16. Greg Cresci, New York Newsroom (212) 859-1700 biz.yahoo.com Ö¿Ö

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