Newport Corp.: The Fountain Valley manufacturer of...

Newport Corp.: The Fountain Valley manufacturer of laboratory equipment posted a 33% decline in fiscal 1990 first quarter income, to $1.1 million from $1.7 million for the comparable period a year ago. Sales for the quarter ended Oct. 31 decreased 2%, to $13.8 million from $14.1 million. Tom Galantowicz, president of Newport Corp., said net income was affected by lower margins on sales to Japan, under-utilized capacity and the impact of receivership proceedings instituted against the company’s Canadian representative.