ASML Cuts Guidance for First Half of 2014

AMSTERDAM--Semiconductor equipment maker ASML Holding NV (ASML) said Wednesday that first-quarter net profit more than doubled as it sold more systems, but cut its first-half guidance slightly to reflect lower demand from some of its clients.

Net profit for the period rose to 249 million euros ($344 million) from EUR96 million in the first quarter of 2014.

Sales were up 57% to EUR1.397 billion, from EUR892 million in the first quarter of 2013. The company sold 35 lithography systems during the first three months of the year, up from 25 in the year-ago period.

"We are pleased to report that our first-quarter sales came in as expected, largely driven by memory customers," Chief Executive Peter Wennink said. "Sales in the second quarter are however expected to be affected by adjustments of system demand from some logic customers," Mr. Wennink added.

For the first half of the year ASML now expects sales of around EUR3 billion including sales from Extreme Ultraviolet (EUV) systems, while it previously guided for around EUR3 billion excluding EUV.

Write to Robin van Daalen at [e-mail]

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