Newport Corporation (NASDAQ: NEWP) manufactures a variety of high technology systems and components used in the aerospace, fiber-optic communications, health care, and semiconductor manufacturing industries. These include lasers and amplifiers, photonics instruments, precision micro-positioning systems, vibration isolation systems, optical hardware and opto-mechanical subassemblies. The firm also offers automated systems for manufacturing disk drives, photovoltaic cells and multi-chip modules. Agilent Technologies (NYSE: A) and Corning (NYSE: GLW) are major competitors.

The firm pleased investors last week, when it announced workforce reduction, outsourcing and administrative streamlining actions designed to improve financial performance. Management also guided Q3 revenues to $106-$112 million ($109.7M consensus), Q4 EPS to 15-25 cents (13 cent consensus) and Q4 revenues to $115-$125 million ($121.3M consensus).

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Newport Corporation (NEWP): Price defines bullish 'pennant' pattern originally appeared on BloggingStocks on Tue, 09 Sep 2008 11:40:00 EST. Please see our terms for use of feeds.