Mike McGervey's questions to NEW PACIFIC METALS (NEWP) leadership • Q1 2015
Question
Mike McGervey from Longbow Research asked about the financial impact of currency fluctuations during the quarter and whether a large industry order from ASML affected Newport's business.
Answer
CFO Chuck Cargile explained that currency had a negative $9 million year-over-year impact on sales but was immaterial to the bottom line due to a natural hedge from its global cost base. He also noted the Q2 guidance reflects a similar drag. CEO Bob Phillippy declined to comment on specific customers but reiterated that the main program update was the cancellation of the previously discussed collaborative development project.