Newport achieved net sales of $143 million in the third quarter, an increase of 14 per cent on sales for the same period in 2011, thanks in part to its earlier acquisitions of Ophir Optronics and ILX Lightwave.
The total contributions from Ophir Optronics and ILX Lightwave amounted to $26 million, according to Newport, offsetting a ‘softness’ in some of the company’s markets such as industrial and microelectronics.
Commenting on the results, Robert Phillippy, Newport's president and chief executive officer said: ’Our third quarter operating income, non-GAAP earnings per share and cash from operations were all at the highest levels we have achieved in any quarter in 2012, despite challenging conditions in our end markets.’
The company is also carrying out a cost savings plan to improve profitability by shaving $15 million off of the cost base every year through what are called ‘integration synergies.’
