ASML Sees Stable Sales Despite Profit Drops

Date : 04/18/2012 @ 2:01AM
Source : Dow Jones News
Stock : Intel Corp. (MM) (INTC)
Quote : 37.07  0.0 (0.00%) @ 8:03AM

ASML Sees Stable Sales Despite Profit Drops

Asml Holding (EU:ASML)
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Semiconductor equipment maker ASML Holding NV (ASML.AE) said Wednesday it expects stable sales in the next two quarters, driven by demand for more powerful chips as used in smartphones and tablets, despite posting a fall in net profit for the first quarter of 2012.

ASML, the world's largest maker of lithography systems that map out electronic circuits on silicon wafers, posted net profit of EUR282 million in the three months ended April 1, down from EUR395 million a year earlier, according to U.S. GAAP accounting standards. Sales fell to EUR1.25 billion from EUR1.45 billion.

ASML's first-quarter results beat analysts expectations of a EUR279 million net profit and sales of EUR1.21 billion.

The Veldhoven, Netherlands-based company suffered a slump in orders last year amid reluctance among semiconductor makers to invest, given the weak state of the economy. ASML counts the world's largest chipmakers such as Intel Corp. (INTC) and Samsung Electronics Co. Ltd. (005930.SE) among its customers.

ASML said new bookings in the first quarter were EUR865 million, up from the EUR710 million in the fourth quarter, and maintained its first-half sales forecast of EUR2.4 billion. It also expects sales in the third quarter to come in at levels of the first half of the year, though it still didn't provide a outlook for the full year.

In current second quarter ASML expects sales of EUR1.2 billion at a gross margin of 43%.

ASML shares closed Tuesday at EUR37.92, valuing the company at around EUR16 billion.

-By Archibald Preuschat, Dow Jones Newswires; +31 20 5715 218; archibald.preuschat@dowjones.com

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