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© ingrid prats dreamstime.com Business | April 21, 2014

ASML 1Q/2014 sales in line with guidance

SML Holding N.V. reported 1Q/2014 net sales as guided at around EUR 1.4 billion, with higher gross margin 1H/2014 net sales expected to be around EUR 3 billion (including EUV).
“We are pleased to report that our first-quarter sales came in as expected, largely driven by memory customers. Our gross margin was better than expected because of a favourable product mix compared with what we had forecasted and the contribution of our Holistic Lithography products. Sales in the second quarter are however expected to be affected by adjustments of system demand from some logic customers."

"This means first-half 2014 sales will be around EUR 3 billion including sales from Extreme Ultraviolet (EUV) systems, versus earlier guidance of around EUR 3 billion which excluded EUV. For the remainder of the year, we see logic customers installing capacity for their 20/16/14 nanometer nodes but at the same time encountering timing uncertainties in next-generation device designs. In NAND memory, customers are expanding capacity and continuing their evaluation of vertical NAND and future-node planar technologies, resulting in uncertainties for system demand."

"Based on these recent developments, we currently estimate second and third quarter 2014 sales at a total of around EUR 3 billion. Independent of near-term fluctuations, our customers are still very focused on executing their technology roadmaps to support their fast innovation cycles. In this context, multiple customers are qualifying EUV for insertion at the 10 nanometer logic node. For process development purposes, customers typically require 100 wafers per day initially, increasing to 500 wafers per day on average for production qualification. We have provided customers with that initial capability and in 2016 we will provide our customers with the productivity needed for volume production. Our target is to recognize a total of eight EUV systems in revenue this year,” said ASML President and Chief Executive Officer Peter Wennink.


Outlook

For the second quarter of 2014, ASML expects net sales of around EUR 1.6 billion, including EUV sales, a gross margin of 44 to 45 percent, R&D costs of about EUR 270 million, other income of about EUR 20 million -- which consists of contributions from participants of the Customer Co-Investment Program -- and SG&A costs of about EUR 85 million.

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