ASML 1Q Net Profit Rose, Doesn't Provide Full-Year Guidance

By Sabela Ojea and Adria Calatayud

ASML Holding NV said Wednesday that first-quarter net profit rose and that it has decided to refrain from giving guidance for the second quarter and full year in light of the coronavirus pandemic situation.

Net profit for the first three months of the year was 391 million euros ($428.3 million) compared with EUR355 million for the year-earlier period, the Dutch maker of semiconductor equipment said.

Sales in the quarter rose to EUR2.44 billion from EUR2.23 billion for the same period a year earlier, ASML said. Gross margin for the quarter was 45.1%.

The company said last month that it expected revenue for the quarter to be between EUR2.4 billion and EUR2.5 billion and gross margin to be in a range of 45% to 46%, lower than its previous forecasts due to the coronavirus pandemic.

ASML shipped four units of its extreme ultraviolet--or EUV--lithography systems, its most advanced technology, in the first quarter, but was only able to recognize revenue for two systems, it said.

The company said it benefited from stronger order intake, noting that there is currently no change in demand.

Write to Sabela Ojea at [e-mail] and Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

April 15, 2020 01:35 ET (05:35 GMT)

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