ASML Announces 2012 Third-Quarter Results In Line With Guidance

ASML Holding N.V. (ASML) (NASDAQ:ASML) (Amsterdam:ASML) today publishes 2012 third-quarter results.

• Q3 2012 sales and profit are within guidance
• ASML reaches merger agreement with Cymer (see separate press release)

		Q3 2012		Q2 2012
Net sales		1,229		1,228
...of which service and field option sales		229		243
New systems sold (units)		32		42
Used systems sold (units)		8		2
Net bookings, excluding EUV		831		949
Net bookings, excluding EUV (units)		33		43
ASP of booked systems, excluding EUV		25.2		22.1
Systems backlog, excluding EUV		1,340		1,503
Systems backlog, excluding EUV (units)		48		55
Gross margin		43.2		43.2
End-quarter cash and cash equivalents and short-term investments		6,159		2,702
Net income		275		292
EPS (in euro)		0.65		0.71
(Figures in millions of euros unless otherwise indicated)

Outlook

“We have performed as planned regarding third-quarter sales and profit, and expect fourth-quarter sales of about EUR 1 billion, resulting in second-half sales at the lower end of our previous guidance of EUR 2.2 to 2.4 billion, reflecting stable demand from the foundry and logic segments and very low expected sales of memory systems,” said Eric Meurice, President and Chief Executive Officer of ASML. “As we enter 2013, we recognize our customers’ uncertainty regarding the underlying semiconductor demand for the tablet and smartphone segments, as well as for the PC business, which has not yet been accelerated by Windows 8 and the ultra-book form factor. We see, however, sustained demand from the logic sector as the planned 28 nanometer node strategic build-up to a worldwide capacity of 300,000 wafer starts per month is expected to be achieved by mid-2013, and as the 22 nanometer logic ramp will start in the second half of next year. Spending by memory customers is expected to remain subdued in the next two quarters. In addition to these fundamental market drivers, we anticipate the shipments of our first 11 NXE:3300B EUV systems that will help prepare our customers for the insertion of EUV in volume production lines by 2014, contributing to EUR 700 million in revenues next year,” Meurice added.