Newport Corp Reaffirms Q4 2012 Guidance; Issues Q4 2012 Charge Guidance

Tuesday, 5 Feb 2013 04:30pm EST 

Newport Corp re-affirmed that it expects its sales, non-GAAP operating income and non-GAAP net income for the fourth quarter of 2012 to be similar to the results the Company recorded in the third quarter of 2012, consistent with the guidance it provided in its press release on October 31, 2012. The Company also announced that the Company expects to record a non-cash, non-tax-deductible impairment charge in the range of $130 million to $140 million in the fourth quarter of 2012 related to its acquisition of Ophir Optronics Ltd. (Ophir). This non-cash accounting charge will not impact the Company's liquidity, cash flows from operations, compliance with its debt covenants or any future operations. The Company reported revenue of $142.9 million, EBIT of $12.6 million and net income of $7.6 million in third quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $143.4 million, and net income of $7.9 million for fourth quarter of 2012. 

Company Quote

0.12 +0.63%
22 Aug 2014