ASML 2Q Net Income Up 3%; to Resume Share Buyback Program
July 19 2017 - 2:12AM
Dow Jones News
By Razak Musah Baba
LONDON--ASML Holding N.V.'s (ASML.AE) second quarter net income
rose 3% from the previous quarter, the Dutch semiconductor group
said Wednesday, adding that it will resume its share buyback
program.
During the second quarter of 2017, ASML's net income was up at
466 million euros ($531.0 million) from EUR452 million the first
quarter of the year. Net sales during the quarter rose to EUR2.10
billion from EUR1.94 billion in the previous quarter, the company
said, adding that it expects third quarter net sales of around
EUR2.2 billion.
"With these strong results in the second quarter, ASML is on
track to achieving net sales growth of about 25% for the full year.
This is driven by sales to memory customers, expected to grow about
50% from last year especially driven by DRAM, and sales to logic
customers that are expected to grow about 15%," President and Chief
Executive Officer Peter Wennink said.
"Our current view is that the positive business trends that we
are seeing in 2017 are likely to continue as we enter 2018," Mr.
Wennink said.
ASML in January 2016 announced its intention to purchase up to
EUR1.5 billion worth of shares to be executed within the 2016-2017
time frame. ASML said Wednesday that following the completion of
the acquisition of a 24.9% interest in Carl Zeiss SMT, it will
resume its current share buyback program.
As a result of the pause in the program from July 20, 2016 until
July 19, 2017, this program will likely not be completed for the
full amount. The current program may be suspended, modified or
discontinued at any time, the company said.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
July 19, 2017 01:57 ET (05:57 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
From Mar 2024 to Apr 2024
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
From Apr 2023 to Apr 2024