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Newport Corp Comments On H2 2013 Revenue Guidance; Issues Q1 2013 Guidance; EPS Guidance Below Analysts' Estimates


Wednesday, 20 Feb 2013 04:06pm EST 

Newport Corp announced that it expects sales to increase in the second half of 2013. Based on its current backlog the Company expect its net sales in the first quarter of 2013 to be slightly lower on a sequential basis. Additionally, the Company expect its non-GAAP operating income and non-GAAP earnings per diluted share to decline sequentially in the first quarter, due to an increase in its operating expenses resulting from the seasonal nature of some expenses and continued investment to fund its growth initiatives. The Company reported revenue of $141.6 million and Non-GAAP net income of $14.3 million, or $0.37 per diluted share, excluding the impairment of assets related to Ophir, acquisition expenses, restructuring and severance costs, the amortization of intangible assets, stock-based compensation expense, and the tax impact of excluded amounts, in the fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $141.60 million, EBIT of $13.60 million and EPS of $0.20 in the first quarter of 2013, revenue of $152.61 million in the third quarter of 2013 and revenue of $158.40 million in the fourth quarter of 2013. 

Company Quote

17.47
0.16 +0.92%
4:00pm EDT