ASML Holding Expects Record Full-Year Sales in 2016
October 19 2016 - 2:31AM
Dow Jones News
By Maarten van Tartwijk
AMSTERDAM--Semiconductor equipment maker ASML Holding NV
(ASML.AE) said Wednesday that it remains on track to achieve record
annual sales in 2016 after it reported third-quarter net profit
that was slightly below expectations.
ASML, which makes photolithography machines for chip makers such
as Intel Corp. and Samsung Electronics Co, said sales in the three
months to the end of September were 1.82 billion euros ($2
billion), up 5% from the previous quarter.
Net profit was EUR396 million compared with EUR354 million in
the previous quarter, slightly below analyst expectations of a
EUR404 million.
ASML said sales came in higher than its own expectations because
it recognized partial revenue for one extreme ultraviolet, or EUV,
lithograpy system which was not included in its previous guidance.
"This lifted third-quarter net sales above guidance but also
decreased our gross margin by 1.4 percentage points," it said.
AMSL said it received three orders for its EUV systems in the
quarter, while adding that "six customers are now actively engaged
in the EUV introduction in both memory and logic."
Looking ahead, the company said it expects fourth-quarter sales
of between EUR1.7 billion and EUR1.8 billion, with a gross margin
of 47% to 48%. "This keeps us on track to finish the year with
record annual sales, for the third consecutive year," Chief
Executive Peter Wennink said.
-Write to Maarten van Tartwijk at
maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
October 19, 2016 02:16 ET (06:16 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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