ASML back on track in fourth quarter

Wednesday 20 January 2010

Chip machinery maker ASML booked net profit of €50m in the final quarter of 2009 as new products such as smart phones and small computers drove up the demand for chips.

The Veldhoven-based company booked a full-year loss of €151m following the economic crisis, which hit the sale of chip makers hard in the early months. ASML booked net profit of €20m in the third quarter and expects further growth in the first half of 2010.

Analyst Eric de Graaf of Petercam told the Telegraaf the results were 'excellent'. 'The company has recovered very well and profitability is back on track,' he told the paper.

'We closed the year as planned with improved sales and strong bookings, as the semiconductor business recovers, driven by technology buys from the memory market segments and technology and capacity buys from major customers,' CEO Eric Meurice said in a statement.

© DutchNews.nl

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