According to a SEC filing made last week, Robert J. Phillippy, CEO of Newport Corporation (NASDAQ: NEWP), purchased 20,000 shares of NEWP common stock at $11.03 per share.
This is the first purchase made by Phillippy in the last one year.
Newport Corp. shares had risen 1.48% to finish at $12.34 on Friday. Year-to-date, the stock has fallen 9.33%, compared with a gain of 9.72% for the Nasdaq.
Last month, Newport Corp. released its first-quarter financial results. For the quarter ended March 31, 2012, NEWP reported record new orders of $186.1 million, representing an increase of 43.5% over the same period last year.
NEWP’s first-quarter sales were $157.2 million, representing an increase of 22.4% over the same period in the previous year. The company saw higher sales and orders in its scientific research, aerospace and defense/security, life and health sciences and industrial manufacturing, and other end markets. The increase was mainly due to the addition of the sales and orders of Ophir Optronics, High Q Laser, and ILX Lightwave.
Operating income for the first quarter of 2012 was $10.2 million. On a non-GAAP basis, the company’s operating income was $19.9 million. NEWP reported second-quarter net income of $6.6 million, or $0.17 per share. On a non-GAAP basis, the company reported net income of $12.1 million, or $0.31 per share.
Phillipy said last month that NEWP is off to a good start in 2012 with solid financial results and demonstrable progress toward its strategic objectives.