ASML Sees Flat 2013 Sales, 3Q Net Profit up 4.6%

AMSTERDAM--Dutch semiconductor equipment maker ASML Holding NV (ASML) Thursday said third quarter net profit increased 4.6%, due to a tax gain and said it expects flat sales for 2013 supported by the first shipments of its next generation EUV machine.

MAIN FACTS:

- Fourth quarter sales dropped 15.7% to 1.02 billion euro compared to 1.21 billion euro in the fourth quarter of 2011.

- Net profit increased by 4.6% to 298 million euro, helped by a 115.8 million euro net tax benefit.

- Net booking, excluding EUV, for the fourth quarter were 667 million euro, compared to 831 million euro in the third quarter of 2012.

- The systems backlog, excluding EUV, dropped by 9.7% on a quarterly basis to 1.21 billion euro.

- In the fourth quarter ASML released EUR 119.5 million of its liability for unrecognized tax benefits after successful conclusion of tax audits in different jurisdictions, which resulted in a net tax benefit of 115.8 million euro for the quarter.

- ASML expects net sales for 2013 at a similar level to that of 2012, with a slow 1Q start, recovering in 2Q and a relatively large second half.

- ASML will ship its first NXE:3300B EUV tool in Q2 targeting for a maximum of 11 potential shipments in 2013, representing a net sales value of around 700 million euro.

- For the first quarter of 2013, ASML expects net sales of about 850 million euro, gross margin of about 38%, R&D costs of 185 million euro, other income of 16 million euro which consists of contributions from participants of the Customer Co-Investment Program and SG&A costs of 63 million euro including 6 million euro in expenses related to the pending Cymer acquisition.

- ASML will propose a dividend for 2012 of 0.53 euro per ordinary share compared with a dividend of 0.46 euro per ordinary share paid in 2011.

- By Amsterdam Bureau, Dow Jones Newswires; [e-mail]

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