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Newport Corp., IRVINE

CORPORATE SNAPSHOT

October 12, 1992|Researched by DALLAS M. JACKSON / Los Angeles Times

Nature of Business: Develops, manufactures and markets precision laboratory equipment

Total employees: 750

In Orange County: 275

Stock listing in The Times: On NASDAQ "Newpt"

Ticker Symbol: "NEWP"

Friday's Close: $4.38

One-week Change: Up $0.13

Analyst Review: "Newport Corp. recently acquired the French company, Micro-Controle, and incurred substantial one-time restructuring charges in fiscal '92. It bought Micro-Controle for the right strategic reasons, but the economy overseas slipped into a recession. As a result, the sales have been disappointing, and Newport has been going through both recessions and acquisition digestion pains. At the same time the domestic research market has suffered from a lack of funding. But management has made the appropriate expense reductions, and now it is just a matter of generating revenue. Newport will come out of this in fairly good position and sales should be well in excess of $100 million over the next several years. I think earnings for fiscal '93 are clearly going to be better than '92. The stock is a good long term speculation investment."

--John Rast, analyst, Huntleigh Securities, St. Louis

REVENUE VS. PROFITS

(Dollar amounts in millions)

Fiscal year ending July 31 July 31 July 31 July 31 July 31 1988 1989 1990 1991 1992 Net Sales $53.4 $57.3 $58.8 $59.7 $87.8 Net Profit (Loss) $7.3 $7.1 $4.7 $3.5 ($14.2)

Corporate Outlook: "During the past year, our business continued to reflect very difficult conditions in both domestic and international markets. We are restructuring operations and refocusing on a worldwide basis to improve profitability in future quarters. Our objectives are to reduce cost structure, develop promising new markets and strengthen our capability to provide timely and quality service to our customers. The Micro-Controle acquisition further enhances Newport's precision positioning and capabilities for high technology industries."

--Richard E. Schmidt, chairman/CEO

5-YEAR SUMMARY: RETURN ON STOCKHOLDER INVESTMENT

Fiscal year ending July 31 July 31 July 31 July 31 1988 1989 1990 1991 52-Week High $15.88 $15.25 $11.75 $10.25 52-Week Low $7.75 $10.58 $8.75 $6.50 Book Value $7.77 $8.51 $8.81 $9.11 Price Per Share $13.25 $11.00 $9.00 $7.38 Net Earnings (Loss) Per Share $0.84 $0.85 $0.59 $0.50 Price-to-Earnings Ratio 11:1 13:1 15:1 15:1 Average Return to Investor 11% 10% 7% 5%

Fiscal year ending July 31 1992 52-Week High $10.00 52-Week Low $4.75 Book Value $6.69 Price Per Share $5.38 Net Earnings (Loss) Per Share ($2.04) Price-to-Earnings Ratio N/A Average Return to Investor N/A

\o7 Source: Newport Corp.\f7

For more information call or write, Newport Corp.: P.O. Box 19607, Irvine, Calif. 92713-9607. (714) 863-3144

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