Sales, profits surge at ASML on back of chip recovery

Dutch semiconductor equipment manufacturer ASML doubled its net sales for its third financial quarter, compared to the same quarter last year.

ASML said net sales amounted to €1,176 million compared to €555 million for the same financial period last year.

Its profit soared too – it turned in net profit of €269 million, compared to only €20 million in its third quarter of 2009.

Eric Meurice, CEO and president of ASML, said third quarter sales were roughly equal between memory and logic customers. ASML is shipping its next generate extreme ultraviolet (EUV) exposure systems to semiconductor customers.

It’s doing so well that it has a backlog of orders amounting to €2,693 million – that’s 110 systems.

ASML’s gross margin for the period was 43.6 percent.

Meurice said that even though there appeared to be less demand for PCs and a fall in memory prices, his company expected strong growth.

“The very sharp demand pick-up since the beginning of the year…are challenges to our capacity capabilities and we are focusing on shortening cycle times and parallel work flows to met customer demand,” he said.