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TheStreet Open House

Newport's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Newport (NEWP)

Q2 2011 Earnings Call

August 03, 2011 5:00 pm ET

Executives

Charles Cargile - Chief Financial Officer, Senior Vice President and Treasurer

Robert Phillippy - Chief Executive Officer, President and Director

Analysts

James Ricchiuti - Needham & Company, LLC

Dave Kang - B. Riley & Co., LLC

Mark Miller - Noble Financial Group, Inc.

D. Mark Douglass - Longbow Research LLC

Ajit Pai - Stifel, Nicolaus & Co., Inc.

Presentation

Operator

Good day, everyone and welcome to the Newport Corporation Second Quarter 2011 Financial Results Conference Call. Today's conference is being recorded. At this time for opening remarks and introduction, I would like to turn the call over to Chief Executive Officer, Mr. Robert Phillippy. Please go ahead, sir.

Robert Phillippy

Good afternoon, and welcome to Newport's Second Quarter 2011 Conference Call. With me is our Chief Financial Officer, Chuck Cargile.

Before we get started, I'd like to remind you that during the course of this conference call, we will be making a number of forward-looking statements that are based on our current expectations and involve various risks and uncertainties that are discussed in our periodic SEC filings. Although, we believe that the assumptions underlying these statements are reasonable, any of them could prove inaccurate, and there can be no assurance that the results will be realized.

In the second quarter of 2011, the Newport team delivered another strong financial performance. And we recently announced some outstanding progress on our strategic agenda with the signing of definitive agreements to acquire Ophir Optronics and High Q Laser. I will provide some additional information on the acquisition front later in today's call, but first, I want to touch on some of the highlights of the second quarter.

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