Newport Completes Acquisition of Ophir Optronics

Newport Corporation today announced that it has completed the acquisition of Ophir Optronics Ltd. ("Ophir") for $8.43 per share in cash. Robert J. Phillippy, Newport's President and Chief Executive Officer, said, "We are delighted to have Ophir join the Newport team, and we are confident that the addition of Ophir's outstanding products, technologies and customer relationships will further strengthen Newport's position in the photonics industry. Ophir has a long history of strong and consistent revenue growth and profit generation, and we expect this acquisition to help Newport deliver significantly higher levels of revenue and profit in the future. We will immediately begin implementing our integration plans, and we expect the transaction to be accretive to our earnings in the fourth quarter of 2011 and thereafter. This acquisition expands our global footprint and further diversifies our end market participation. It represents an important step in the implementation of our strategy to become the world's premier source for photonics technology and products."

Ophir (www.ophiropt.com) is headquartered in Jerusalem, Israel, with manufacturing operations in Israel and the U.S. and sales offices in the U.S., Japan and Europe. For the six month period ended June 30, 2011, Ophir had revenue of $60.5 million, an 18.1% increase over the first half of 2010, and operating income of $6.8 million. Newport expects Ophir to achieve slightly higher levels of revenue and profit in the second half of 2011 compared with the first half of 2011. Ophir will operate as a wholly-owned subsidiary of Newport Corporation.