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April 13, 2011, 1:34 AM EDT
By Maaike Noordhuis
April 13 (Bloomberg) -- ASML Holding NV, Europe’s biggest semiconductor-equipment maker, said first-quarter profit more than tripled as chip manufacturers added capacity and shifted to the company’s more advanced-technology machines.
Net income jumped to 395 million euros ($572 million) from 107 million euros a year earlier, the Veldhoven, Netherlands- based company said today in a statement. Profit beat the 354 million-euro average of 21 analysts’ estimates compiled by Bloomberg. Sales doubled to 1.45 billion euros from 742 million a year earlier, exceeding the 1.43 billion-euro estimate.
ASML is sticking to a forecast for 2011 of record revenue “clearly above” 5 billion euros, it said. At the same time, semiconductor manufacturers are “certainly” showing caution in assessing the economic effects of the Japanese earthquake on their supply chain as well as on the end product market, and some customers have “re-timed a number of deliveries.”
--Editors: Tom Lavell, Jerrold Colten.
To contact the reporter on this story: Maaike Noordhuis in Amsterdam at mnoordhuis@bloomberg.net
To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net
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April 13 (Bloomberg) -- ASML Holding NV, Europe’s biggest semiconductor-equipment maker, said first-quarter profit more than tripled as chip manufacturers added capacity and shifted to the company’s more advanced-technology machines.
Net income jumped to 395 million euros ($572 million) from 107 million euros a year earlier, the Veldhoven, Netherlands- based company said today in a statement. Profit beat the 354 million-euro average of 21 analysts’ estimates compiled by Bloomberg. Sales doubled to 1.45 billion euros from 742 million a year earlier, exceeding the 1.43 billion-euro estimate.
ASML is sticking to a forecast for 2011 of record revenue “clearly above” 5 billion euros, it said. At the same time, semiconductor manufacturers are “certainly” showing caution in assessing the economic effects of the Japanese earthquake on their supply chain as well as on the end product market, and some customers have “re-timed a number of deliveries.”
--Editors: Tom Lavell, Jerrold Colten.
To contact the reporter on this story: Maaike Noordhuis in Amsterdam at mnoordhuis@bloomberg.net
To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net
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