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Newport's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Newport (NEWP)

Q4 2011 Earnings Call

February 22, 2012 5:00 pm ET

Executives

Robert J. Phillippy - Chief Executive Officer, President and Director

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

Analysts

James Ricchiuti - Needham & Company, LLC, Research Division

Lawrence Solow - CJS Securities, Inc.

Mark S. Miller - Noble Financial Group, Inc., Research Division

Dave Kang - B. Riley & Co., LLC, Research Division

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

Presentation

Operator

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

Robert J. Phillippy

Thanks. Good afternoon, and welcome to Newport's Fourth 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.

The fourth quarter provided a strong finish to an outstanding year for the Newport team. For the full year, we delivered record performance in orders, sales and earnings per share. We also advanced our strategic agenda with the acquisitions of Ophir Optronics, High Q Laser and early in January of 2012, ILX Lightwave. This combination of crisp operational execution and effective implementation of our acquisition strategy has become ingrained within the company, leading us to expect another excellent financial performance in 2012.

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