Chip maker ASML sees signs of recovery

ASML saw demand for its microchip makers fall sharply in the first three months of this year but nevertheless said there were some signs of recovery.

The company booked a loss of €117m in the first three months of this year. Sales fell from nearly €500m in the final quarter of 2008 to €189m.
‘Although we will continue to be affected by the global economic recession and very limited capacity demand, we are seeing signs of a pick-up in technology purchases from the current low run rate,’ CEO Eric Meurice said in a statement.
The company said it had managed to generate €300m in cash from cost cutting while maintaining strategic investments.

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