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Lou Novak

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BUSINESS
October 18, 2001
* Newport Corp., which makes devices for testing and assembling fiber-optic products and semiconductors, reported a third-quarter net loss of $25.5 million, or 70 cents a share, which included one-time charges of $39.1 million related to cost-reduction efforts. A year ago, the company earned $11.2 million, or 30 cents a share. Sales declined 15% to $62.9 million. * Westcorp, an Irvine financial services holding company whose principal subsidiaries are WFS Financial Inc.
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