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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Venkie who wrote (34887)	3/28/2001 6:56:24 PM
From: Voltaire	Read Replies (2) of 65232

Same here. Just hold on to your NEWP. Rarely seen a stock with these fundamentals especially in times like these. vster Pacific Growth Equities Morning Call Summary for March 28, 2001 03/28/01 08:53 AM Source: Pacific Growth Equities San Francisco, CA – March 28, 2001 – Pacific Growth Equities, a research driven investment bank specializing in emerging growth companies, today reported the following from their morning call meeting: Newport Corp. (NEWP) Price: $35.31 Strong Buy F01E: $1.54 F02E: $2.07 Joe Noel, Telecommunications “We view the recent price sell off of NEWP shares as an excellent buying opportunity. This stock sold off yesterday on very heavy volume due to a misinterpretation of some comments that were made by one of the analysts that follows this stock. The rumors centered on order cancellations from Corning Inc. (GLW:NYSE). Later in the day, management issued statements that the company was not seeing order cancellations and that issues relating to the Corning plant delay have already been included in management’s guidance. Management took the opportunity to reiterate guidance for the March 2001 quarter and for the year ending 2001, which was originally indicated on March 6, 2001. At these levels we believe that NEWP is undervalued when its growth rate is considered. At the low end of guidance for the full year, these shares are trading at only 3X this year’s sales and 22X this year’s earnings. Considering the low end of the revenue range calls for growth of 59%, we consider these shares to be cheap. Even at a lower growth rate, the stock would still look attractive. We believe that NEWP is one of the strongest stories in the communications space. We believe that investors should take a close look at this story and buy shares of this company on the recent weakness and we are reiterating our Strong Buy rating.”

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