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NEWPORT REPORTS RESULTS FOR TWO-MONTH AND FIVE-MONTH TRANSITION PERIODS ENDED DEC. 31, 1992

 IRVINE, Calif., Feb. 1 /PRNewswire/ -- Newport Corp. (NASDAQ: NEWP) today reported continued improvement in its operations in the two-month transition period ended Dec. 31, 1992.
 As previously announced, the company has changed its fiscal year- end from July 31 to Dec. 31. The purpose of the change is to gain the administrative advantages of being on a calendar year basis. The company reported quarterly results as of Oct. 31 and today's announcement for the two-month period ended Dec. 31, 1992, completes reporting for the transition period. As of Jan. 1, 1993, Newport begins its new 12-month fiscal year.
 Richard E. Schmidt, chairman and chief executive officer, said: "We have seen some improvement in domestic order rates. Our original equipment manufacturer and precision systems business strengthened, as did such core product lines for the research laboratory as optics and components. On the other hand, European market conditions continue to be difficult, and are likely to remain so this year.
 "In the two-month period, operating income totaled $823,000, vs. operating losses of $164,000 in the Oct. 31, 1992, quarter and $604,000 in the July 31, 1992 quarter. We are pleased with this improvement in operating results."
 For the two months ended Dec. 31, 1992, the company reported an after-tax profit of $65,000 equal to 1 cent per share, on sales of $14,136,000. For the three months ended Jan. 31, 1992, net income was $471,000, equal to 7 cents per share, on sales of $25,413,000.
 For the five months ended Dec. 31, 1992, the net loss was $648,000, equal to 9 cents per share, on sales of $36,070,000. In the six-month period ended Jan. 31, 1992, net income was $626,000, equal to 9 cents per share, on sales of $42,719,000.
 Schmidt continued: "Results for the two- and five-month transition periods are obviously not comparable to prior periods because the prior periods consisted of three and six months. More importantly, they are not comparable because of the degree of restructuring that has been accomplished over the past six months. As previously reported, that program has focused on reducing our cost structure, strengthening competitiveness and returning to profitability at an early date. The program is on schedule, and we expect to complete all of the planned steps by June 1993.
 "While we are pleased by the improving tone of some of our important U.S. markets, we do not expect any improvement in the European economies during 1993. Restructuring is producing the desired results in terms of reducing costs and eliminating marginal sales. Our efforts to broaden the company's base by addressing attractive niche markets are progressing well. Looking ahead, we expect to achieve further improvement in 1993."
 Newport Corp. is a leading worldwide manufacturer and marketer of precision laboratory equipment for scientists and engineers who develop and apply technology involving lasers and optics. The Micro- Controle acquisition further enhances Newport's precision positioning capabilities for high technology industries including semiconductor manufacturing, telecommunications, and medical and analytical instrumentation. Customers include Fortune 500 corporations, national research laboratories, government and educational institutions.
 NEWPORT CORP.
 Consolidated Financial Highlights
 (Amounts in Thousands Except Per Share Data)
 Two Months Ended Three Months Ended
 Dec. 31, Jan. 31,
 1992 1992
 Net sales $14,136 $25,413
 Net income (loss) $65 $471
 Earnings (loss) per share $0.01 $0.07
 Weighted average common
 and equivalent shares 6,966 7,050
 Five Months Ended Six Months Ended
 Dec. 31, Jan. 31,
 1992 1992
 Net sales $36,070 $42,719
 Net income (loss) ($648) $626
 Earnings (loss) per share ($0.09) $0.09
 Weighted average common
 and equivalent shares 6,966 7,050
 -0- 2/1/93
 /CONTACT: Robert C. Hewitt, senior VP-finance of Newport, 714-253-1405/
 (NEWP)


CO: Newport Corp. ST: California IN: CPR SU: ERN

KJ -- LA025 -- 1444 02/01/93 14:07 EST
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Date:Feb 1, 1993
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