Newport Corp. Buys Back 350,000 More Shares
IRVINE — Newport Corp., maker of high-precision products for communications and computer industries, said Monday that directors have authorized the repurchase of an additional 350,000 shares under a stock buy-back plan started last April.
The recent purchases, aimed partly at enhancing the company’s stock price, brought the amount of stock bought back to 640,000 shares. At the end of December, the company had 8.95 million shares outstanding.
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