July 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Newport Corp. (NASDAQ: NEWP) said that it has completed the sale of the stock of its Hilger Crystals subsidiary to Dynasil Corp. (OTCBB: DYSL), a provider of technology, products, services and solutions in the medical, industrial and homeland security and defense markets. UK-based Hilger manufactures and sells a range of synthetic crystals and detectors, imaging arrays and materials, primarily for x-ray detection applications.

Under the terms of the deal, Newport received $4 million in cash at closing. In addition, if the Hilger Crystals business achieves certain specified sales targets in the 18 months following the closing, Newport will receive up to $750,000 of additional cash.

Newport said it expects to record a charge in the second quarter of 2010 of approximately $0.8 million relating to deal costs and a pension curtailment expense associated with this business. In the third quarter of 2010, Newport expects to record a gain on the sale of this business that will be substantially offset by additional charges relating to the termination of Hilger's pension plan. Hilger Crystals' revenues were $2.0 million in the full year 2009 and $1.5 million in the first half of 2010, according to Newport.

The company said it will provide additional information regarding the transaction in its conference call on July 28, 2010, regarding Newport's second quarter operating results.

California-based Newport is a supplier of products and systems to customers in the scientific research, microelectronics, aerospace and defense/security, life and health sciences and precision industrial manufacturing markets.

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