Navigation Links
Newport Corporation Completes Sale of Hilger Crystals to Dynasil Corporation
Date:7/20/2010

IRVINE, Calif., July 20 /PRNewswire-FirstCall/ -- Newport Corporation (Nasdaq: NEWP) today announced that it has completed the sale of the stock of its Hilger Crystals subsidiary to Dynasil Corporation (OTC Bulletin Board: DYSL), a provider of technology, products, services and solutions in the medical, industrial and homeland security/defense markets.

Hilger, based in Margate, UK, manufactures and sells a variety of synthetic crystals and detectors, imaging arrays and materials, primarily for x-ray detection applications.  Under the terms of the transaction, Newport received $4.0 million in cash at closing.  In addition, if the Hilger Crystals business achieves certain specified sales targets in the 18 months following the closing, Newport will receive up to $750,000 of additional cash.  

Newport expects to record a charge in the second quarter of 2010 of approximately $0.8 million relating to deal costs and a pension curtailment expense associated with this business.  In the third quarter of 2010, Newport expects to record a gain on the sale of this business that will be substantially offset by additional charges relating to the termination of Hilger's pension plan.  Hilger Crystals' revenues were $2.0 million in the full year 2009 and $1.5 million in the first half of 2010.  The company will provide additional information regarding the transaction in its conference call on July 28, 2010, regarding Newport's second quarter operating results.

ABOUT NEWPORT CORPORATION

Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research, microelectronics, aerospace and defense/security, life and health sciences and precision industrial manufacturing markets.  Newport's innovative solutions leverage its expertise in high-power semiconductor, solid-state and ultrafast lasers, photonics instrumentation, sub-micron positioning systems, vibration isolation, optical components and subsystems and precision automation to enhance the capabilities and productivity of its customers' manufacturing, engineering and research applications.  Newport is part of the Standard & Poor's SmallCap 600 Index and the Russell 2000 Index.

SAFE HARBOR STATEMENT

This news release contains forward-looking statements, including without limitation the statement regarding the potential for Newport to receive additional cash payment based upon Hilger Crystals' future financial performance and the charges and gain on sale expected to be recorded in connection with the transaction.   In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.  Assumptions relating to the foregoing involve judgments and risks, some of which are discussed in more detail in Newport's Annual Report on Form 10-K for the year ended January 2, 2010.  Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport's objectives or plans will be achieved.  Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


'/>"/>
SOURCE Newport Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Genaera Corporation Presents Interim Phase 1 Data for Obesity Compound Trodusquemine (MSI-1436) at IBC Conference
2. CEL-SCI Corporation Releases Letter to Shareholders
3. Alfacell Corporation to Present at UBS Global Life Sciences Conference
4. Baxa Corporation Extends Global Reach With New Distribution Agreements in Colombia and the Dominican Republic
5. Genaera Corporation Presents Preclinical Trodusquemine (MSI-1436) Data at the North American Association for the Study of Obesity Annual Meeting
6. Genaera Corporation Presents Phase 1 Data for Trodusquemine (MSI-1436) at the North American Association for the Study of Obesity Annual Meeting
7. The Quigley Corporation Reports Third Quarter Results, Increases Investment in Pharmaceutical R&D for Diabetic Neuropathy
8. Genaera Corporation Provides Highlights of Positive Phase 1 Trodusquemine (MSI-1436) Data from the North American Association for the Study of Obesity Annual Meeting
9. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on CEL-SCI Corporation
10. Immunosyn Corporation Releases SF-1019 Study Results
11. AmpliMed Corporation Announces Promising 1-year Survival Data from Phase I/II Study of Amplimexon(R) in Metastatic Malignant Melanoma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... - Cardiac Marker Diagnostic ... and Cancer Therapy. - European Point of Care ... - Key Diagnostic Testing Markets. - Molecular ... Genetic Testing. - Molecular Diagnostics in Infectious Disease ... Diagnostic Products World Markets. - Point of Care ...
(Date:2/11/2016)... 2016 PRO-DEX, INC. (NasdaqCM: PDEX) today announced financial ... 2015. The Company also filed its Quarterly Report on Form ... the Securities and Exchange Commission today. --> ... --> --> Net sales for ... or 95%, to $5.4 million from $2.8 million for the ...
(Date:2/11/2016)... OAKLAND, Calif. , Feb. 11, 2016  Walgreens ... stores across 39 states and Washington, D.C. ... in a move that was commended by shareholder advocacy organization ... President at As You Sow. "Many people hold on to ... options, which can have tragic consequences." --> ...
Breaking Medicine Technology:
(Date:2/13/2016)... ... February 13, 2016 , ... In its newly released Infusion ... technology should be used to ensure patient safety when placing an IV catheter. ... mandate the use of vein visualization technology in patients with difficult venous access ...
(Date:2/12/2016)... , ... February 12, 2016 , ... According to an ... are beginning to account for a significant portion of hernia repairs throughout the United ... the Beverly Hills Hernia Center notes that this trend has not only been expected, ...
(Date:2/12/2016)... ... February 12, 2016 , ... CDRH Enforcement Trends: , Back to the Future , Feb. ... , As Winston Churchill said, “Those who don’t learn from history are doomed to repeat ... when they come knocking this year. But that takes time. , Take a close ...
(Date:2/12/2016)... ... 12, 2016 , ... T.E.N., a technology and information security ... Southeast Awards 2016. Finalists and winners of the ISE® Awards for both Executive ... Awards Gala on March 15, 2016 at the Westin Peachtree Plaza, Atlanta. ...
(Date:2/12/2016)... ... February 12, 2016 , ... AssureVest Insurance Group, a locally ... a charity drive that will raise funds earmarked to purchase computers and software for ... School. , “My school is in a low-income area and has more than 60 ...
Breaking Medicine News(10 mins):