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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (34784)	3/27/2001 8:30:22 PM
From: Voltaire	Respond to of 65232

This is why I love this company and added the calls today. Can't let FUD ruin your faith. V 00 Reply To: 2216 by Bcrafty $$$ Tuesday, 27 Mar 2001 at 7:41 PM EST Post # of 2220 NEWPORT REITERATES GUIDANCE TODAY NEW YORK (Dow Jones)--Newport Corp. (NEWP) Chief Executive Robert Deustersaid Tuesday the company is making no changes to its first-quarter or full-year 2001 guidance and has not seen any order cancellations from customers.Deuster, in an interview with Dow Jones Newswires, was responding to market rumors that led to a steep sell-off of Newport's stock in afternoon trading Tuesday. Investors ran with a rumor that Corning Inc. (GLW) had canceled orders with Newport, sending the stock down by as much as 18% in heavy trading. But Deuster said that any potential pushout in orders by Corning were factored into the company's latest guidance, which was issued March 6. Newport expects first-quarter sales of between $95 million and $100 million and earnings per share, excluding charges, about 230% to 240% above the 15 cents a share the company reported in the year-ago first quarter, according to its March 6 guidance. The company expects 2001 revenues of between $400 million and $425 million, and 2001 earnings of $1.45 to $1.60 a share before non-recurring charges. "We're staying with our guidance," Deuster said. "There are no order cancellations. The (Corning rumor) is related to a plant they are delaying opening in New Hampshire. Clearly, that's old news and something we had factored into our guidance three weeks ago." Shares of Newport recently rebounded slightly, but were still trading down 10.8%, or $4.33, to $35.88, with volume at 8 million shares compared with the daily average of 3.7 million.