Newport Corp. Profit Doubles in Quarter

Newport Corp., benefiting from a surge in sales of semiconductor equipment, reported Monday that second-quarter profits doubled, surpassing analysts’ estimates.

The Irvine company, which also makes machinery that is used to build fiber-optic components, said net income for the three months totaled $4.2 million, or 14 cents a share, up from $2.1 million, or 7 cents a share, a year ago. Analysts were anticipating earnings of 12 cents a share, according to a survey by First Call/Thomson Financial.

Sales rose 45% to $51.7 million, as semiconductor equipment sales moved up to $7.3 million from $2.9 million.

Despite the bullish developments, Newport’s stock fell $8.50 a share to $110 in Nasdaq trading. The shares still are up more than sevenfold so far this year.