NEWPORT CORPORATION ENTERS INTO AGREEMENT TO ACQUIRE FEMTOLASERS
Acquisition Expected to Be Accretive and Extend Newport's Leadership in Ultrafast Lasers
Irvine, CA, February 5, 2015 – Newport Corporation (NASDAQ: NEWP) today announced that it has entered into an agreement to acquire FEMTOLASERS Produktions GmbH, a leading developer and manufacturer of ultrafast laser systems used extensively in scientific and biomedical research applications. Widely recognized for developing the world's highest precision ultrafast lasers, FEMTOLASERS enables some of the most advanced research applications, including the pioneering of attosecond (10-18 second) science to study physical, chemical and biological phenomena at the atomic and subatomic levels.
“We are excited to announce our agreement to acquire FEMTOLASERS, which will advance our strategic initiative to extend our industry leadership in ultrafast lasers,” said David Allen, Senior Vice President and General Manager of Newport’s Spectra-Physics Lasers Group. “FEMTOLASERS has developed some truly impressive leading-edge technology that will be invaluable as we work together to develop the next generation of ultrafast lasers. We welcome the FEMTOLASERS team to Newport and look forward to their contributions to our Spectra-Physics Lasers Group.”
Established in 1994, FEMTOLASERS is headquartered in Vienna, Austria and has an installed base of more than 850 systems in over 30 countries. In the first 12 months after closing, Newport expects FEMTOLASERS’ sales to be in the range of $8 million to $12 million, and expects the transaction to be accretive to its earnings. Terms of the transaction, which is anticipated to close during the first quarter of 2015, were not disclosed.
About Newport Corporation
Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research, microelectronics, life and health sciences, industrial manufacturing and defense and security markets. Newport’s innovative solutions leverage its expertise in advanced technologies, including lasers, photonics and precision motion equipment, and optical components and sub-systems, 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.
Learn more about Newport at www.newport.com and follow the company on Twitter, YouTube and Facebook. To download Newport's investor relations app, which offers access to its SEC filings, press releases, videos, audiocasts and more, please visit Apple’s App Store for the iPhone and iPad or Google Play for Android mobile devices.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the expectations that the acquisition will extend Newport's leadership position in ultrafast lasers, that FEMTOLASERS' technology in ultrafast lasers will be invaluable as the companies work together to develop next-generation ultrafast technology and that FEMTOLASERS will provide contributions to the Spectra-Physics Lasers Group, FEMTOLASERS' expected sales in the first twelve months after closing, the expectation that the acquisition will be accretive to Newport's earnings in the first twelve months after closing, and the expected closing date of the acquisition. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. 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 with respect to, among other things, the strength of business conditions in the industries FEMTOLASERS serves; FEMTOLASERS' ability to successfully penetrate and increase sales to its targeted end markets; Newport's ability to achieve the expected benefits from the integration of FEMTOLASERS; potential order cancellations and push-outs; future economic, competitive and market conditions, including those in Europe, North America and Asia and those related to its strategic markets; whether its products will continue to achieve customer acceptance; and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of FEMTOLASERS or Newport. Certain of these judgments and risks are discussed in more detail in Newport's periodic reports filed with the Securities and Exchange Commission. 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.
Charles F. Cargile, 949/863-3144
Newport Corporation, Irvine, CA
Rob Fink, 212/896-1206
KCSA Strategic Communications