ASML: Q2 profits up, outlook worsening
Wednesday, July 13, 2011
AMSTERDAM (AP) — ASML Holding NV, Europe’s largest computer chip equipment supplier, says profits rose in the second quarter and it expects to meet its full-year sales targets. However, the supplier to Intel, Samsung and TSMC says its customers are starting to hold off on new orders due to uncertainties over the economy.
ASML said net profit was (euro) 432 million ($606 million), up from (euro) 239 million in the same period a year ago. Sales rose 43 percent to (euro) 1.53 billion. Chief Executive Eric Meurice repeated a forecast Wednesday that the company’s full year sales will pass (euro) 5 billion for the first time, but noted customers are rethinking how much to spend in 2012, and new orders next quarter will be only (euro) 500 million. ASML said it expects to extend Meurice’s contract through March 2014.