Key Developments For Newport Corporation
Newport Corporation (NEWP.O) (Nasdaq)
Newport Corporation Comments On Q4 2009 Revenue Guidance
Newport Corporation announced that it expect the recent improvement in market activity to continue in the near term, which, coupled with historical seasonal strength, should enable the Company to grow revenue sequentially in the fourth quarter of 2009. The Company reported revenues of $88.3 million in third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $91.40 million for the same period.
Oclaro, Inc. and Newport Corporation Close Deal To Exchange Strategic Assets
Oclaro, Inc. announced that it has closed the transaction announced on June 3, 2009 with Newport Corporation under which Newport has acquired the New Focus business of Oclaro's Advanced Photonics Solutions division in exchange for the Newport Spectra Physics high power laser diodes business. Oclaro has also received $3 million in cash proceeds which is expected to fund related transition and integration costs.
Oclaro, Inc. And Newport Corporation To Exchange Strategic Assets
Oclaro, Inc. announced that it has signed a definitive agreement with Newport Corporation. Under the terms of the agreement, Newport Corporation will acquire the New Focus business of Oclaro's Advanced Photonics Solutions division in exchange for the Newport Spectra Physics high power laser diodes business. Oclaro will also receive $3 million in cash proceeds which is expected to fund the substantial portion of related transition and integration costs.
Newport Corporation Comments On Q2 2009 Revenue Guidance
Newport Corporation announced that although it expects its revenue to continue to experience downward pressure in the second quarter of 2009, it fully expect that the actions it is taking will enhance its competitiveness and provide it with meaningful profit leverage when market conditions improve. According to Reuters Estimates, analysts were expecting the Company to report revenue of $101.95 million for the second quarter of 2009.
Newport Corporation Amends $5 Million Credit Pact; Extends Term-DJ
Dow Jones reported that Newport Corporation said that it has amended its $5 million loan agreement with Bank of America N.A. to extend the expiration date for the Company's revolving line of credit to December 1, 2009. The Company also said the amendment changes the interest rate to the BBA Libor daily floating rate plus 1%, and reduces the optional interest rate and certain fees charged by the lender.
