ASML Announces 2011 Second Quarter Results

ASML Holding NV (ASML) today announces 2011 second quarter results according to US GAAP as follows:

• Q2 2011 net sales of EUR 1,529 million versus Q1 2011 net sales of EUR 1,452 million (Q2 2010 net sales of EUR 1,069 million).
• Q2 2011 net income of EUR 432 million, or 28.3 percent of net sales, versus a Q1 2011 net income of EUR 395 million or 27.2 percent of net sales (Q2 2010 net income of EUR 239 million or 22.4 percent of net sales).
• Q2 2011 net bookings excluding EUV is valued at EUR 840 million with 34 systems (29 new and 5 used systems), leading to a systems backlog excluding EUV valued at EUR 2,756 million as of June 26, 2011.

“Our second quarter sales came in at record level, keeping us on track for another record year for ASML in 2011,” said Eric Meurice, President and Chief Executive Officer of ASML. “Sales were driven mainly by customer capacity build-ups for new technology nodes, with Logic Processors and Foundry representing 41% of systems sales, Flash memory 36% and DRAM memory 23%. We have now shipped more than 80 of our most advanced TWINSCAN NXT:1950i immersion systems. We are further extending the capability of this machine by introducing an improved imaging, overlay and productivity specification, so that customers will be able to expose up to 230 wafers per hour at the 22-nanometer (nm) node. By mid-July we will have also shipped a total of five NXE:3100 Extreme Ultraviolet (EUV) scanners with several customers having already exposed hundreds of wafers with resolutions as small as 18 nm on this lithography platform for the future,” Meurice added.

Operations Update

			Q2 2011				Q1 2011				Notes
Net sales			1,529				1,452
...of which service and field option sales			196				168
New systems sold (units)			58				56
Used systems sold (units)			5				7
ASP new systems sold			22.7				22.5
ASP all systems sold			21.2				20.4
Net bookings, excluding EUV			840				845
Net bookings, excluding EUV (units)			34				40
ASP of booked systems, excluding EUV			24.7				21.1
Systems backlog, excluding EUV			2,756				3,330
Systems backlog, excluding EUV (units)			105				134
Orders for NXE:3100 (EUV) (units)			6				6				(1)
Orders for NXE:3300 (EUV) (units)			10				9
Gross margin (percent)			45.1				44.7
R&D costs			145				145
SG&A costs			51				54				(2)
Net cash flow from operations			499				1,101
End-quarter cash and cash equivalents			2,742				2,699				(3)
Net income			432				395
EPS (in euro)			1.01				0.90
(Figures in millions of euros unless otherwise indicated)

Notes:

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