ASML Swings to Profit, Bookings Rise

The biggest European maker of semiconductor equipment said first-quarter earnings increased as sales rose and bookings came in above 1 billion euros ($1.36 billion).
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TheStreet

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ASML

(ASML) - Get Report

, the biggest European maker of semiconductor equipment, said first-quarter earnings increased as sales rose and bookings came in above 1 billion euros ($1.36 billion).

ASML, which provides lithography systems for the semiconductor industry, reported net income of 107 million euros, a swing from a year-earlier loss of 117 million euros. Sales were 742 million euros vs. year-earlier net sales of 184 million.

The earnings topped the estimates of most analysts.

First-quarter net bookings were valued at 1.004 billion euros with 50 systems ordered including 33 new and 17 used systems, leading to an order backlog valued at 2.170 billion euros, ASML said Wednesday.

ASML said it expects a similar level of bookings in the second quarter, "confirming the semiconductor industry executing on its upturn cycle," said Eric Meurice, CEO and president, in a press release.

ASML said it expects second-quarter net sales of about 1 billion euros, higher than its original estimates.

ASML said its 2010 sales could top 3.8 billion euros, which it achieved in its best-sales year of 2007.

-- Reported by Joseph Woelfel in New York.

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