Newport reports sales of $157 million for the first quarter and predicts total sales for 2012 of $665 million.
Its first quarter sales are $157.2 million, an increase of 22.4 per cent compared with the first quarter of 2011. In the first quarter Newport gained record new orders of $186.1 million, 43.5 per cent more than the $129.7 million achieved in the first quarter of 2011. Its order backlog for the next 12 months now stands at $174.9 million, including $41.5 million of backlog orders from Newport's recent acquisitions, which are the companies ILX Lightwave, Ophir Optronics and High Q Laser.
Robert Phillippy, Newport's president and chief executive officer, stated: ‘We are off to a good start in 2012, with solid financial results and demonstrable progress toward our strategic objectives.’
The company is expecting sales in the second quarter to be similar to the first quarter’s levels. Newport’s forecast is positive and it expects its sales in the second half of 2012 to increase by up to 12 per cent against the first six months. This will mean Newport will achieve total sales for 2012 of up to $665 million.