ASML Orders Rise

The company sees 40% sequential growth for the second quarter.
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ASML (ASML) - Get Report rose 5% after the semiconductor-equipment maker said it expects 40% sequential order growth for its second quarter.

The company, based in Veldhoven, the Netherlands, cited strong customer demand for deliveries in the coming fourth quarter and the first quarter of next year. ASML said first-quarter net bookings were 62 lithography systems.

"Our higher than expected Q2 bookings intake further confirms the steady capacity increase need of the semiconductor industry, and the growing market acceptance of ASML technology," said CEO Eric Meurice. "In particular, ASML continues to strengthen its technology leadership through immersion, as customers are starting qualification of our Twinscan XT:1700i's capabilities down to the 45-nanometer node."

ASML said it plans to raise research and development variable expenses in the second quarter to reach a total of 92 million euros net of credit, up 5 million euros from previous guidance.

Early Tuesday, ASML rose $1.04 to $19.74.