Chip machinery maker ASML reported a sharp drop in fourth quarter earnings on Thursday, and a downturn in orders. Full year earnings more than halved to €322m.

The company posted a final quarter loss of €88m, compared with profit of over €192m in the year earlier period. Sales halved from €955m to €494m.
ASML booked a €138 provision in the fourth quarter to pay for write-offs and an organisational revamp leading to 1,000 job losses.
The company did win orders for 13 chip making machines with total value of €127m. But most customers had brought in a ‘virtual freeze’ in capital expenditure, the company said.
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