Newport Corp. Outperforms 1st-Quarter Projections

Newport Corp., which makes products for assembling and testing fiber optics and semiconductors, reported that operating earnings tripled in the first quarter, outdistancing analysts’ projections.

Operating earnings climbed to $15.3 million, or 40 cents a share, from $5 million, or 15 cents a share, a year ago. Analysts were expecting the Irvine company to post earnings of 36 cents a share.

The results for the recent quarter excluded a $12.5 million charge for acquisitions, Newport said. In February, the company acquired Kensington Laboratories Inc., a privately held manufacturer of high-precision robotic and motion control equipment.

Revenue more than doubled to $106.7 million.

The results were announced after the close of regular U.S. trading hours. The stock closed at $38.17, up $6.09 a share, or 19%, on the Nasdaq market, then climbed as high as $43.05 in after-hours trading.