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ASML posts 104 mn euro loss in Q2 due to weak sales

ASML posts 104 mn euro loss in Q2 due to weak sales
AP
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First Published: Wed, Jul 15 2009. 01 03 PM IST
Updated: Wed, Jul 15 2009. 01 03 PM IST
Amsterdam: ASML Holdings NV, a key supplier of equipment to computer chip makers such as Intel and Samsung, on Wednesday posted its third consecutive quarterly loss due to weak sales.
The company said that although sales remained depressed, it expects them to improve in coming quarters. The order backlog had recovered slightly, ASML said, as customer spending returned to more normal levels after the most acute phase of the economic downturn.
The company’s net loss was €104 million ($145.51 million), compared to a loss of €117 million in the same period a year ago. Sales were €277 million, down sharply from €844 million.
“We closed the second quarter with weak but better than anticipated sales ... in this very difficult market environment, similar to that of the first quarter of the year when our customers virtually froze their capital purchases,” said chief executive Eric Meurice in a statement.
He said ASML had received new orders worth €394 million in the quarter, “signaling a return to a more typical rate of ... investments” by customers. He forecast sales of €450 million in the third quarter. At that level ASML would be break even.
ASML makes lithography systems, which are central to the process of laying out the circuitry of semiconductor chips.
Intel Corp, one of ASML’s largest customers, posted better-than-expected second quarter results Tuesday.
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First Published: Wed, Jul 15 2009. 01 03 PM IST