Newport Corp.: The Irvine manufacturer of equipment...

Newport Corp.: The Irvine manufacturer of equipment for the development of laser and optics technology posted a first-quarter profit of $605,000, or 9 cents a share, up from earnings of $148,000, or 2 cents a share, for the same period a year earlier. The 1994 figure included a onetime gain of $295,000 from the settlement of a state tax audit. Sales for the first quarter declined to $20.1 million from $22 million.