Dutch ASM Lithography Won't Scale Back Bullish Forecasts
By TOBY STERLING
Of DOW JONES NEWSWIRES
AMSTERDAM -- Dutch semiconductor equipment maker ASM Lithography NV (ASML) hasn't scaled back its bullish outlook for the next two years despite growing evidence the semiconductor industry is cooling off.
ASML spokesman Franki D'Hoore said Wednesday said the company has had little or no change in its bullish outlook even amid a major correction in the share prices of most semiconductor-related shares - including those of ASML.
D'Hoore said the company will deliver between 400 and 440 of its lithography systems next year.
"We have had one order pushed forward from the second half of 2001 to the first half of 2002, but that's completely within the normal course of business," he said. "Two U.S. customers picked up the extra systems immediately."
Lithography systems, which use highly-focused light beams to map out the circuitry of a computer chips, cost upwards of $8 million.
D'Hoore said that the company's outlook for the industry as a whole is that the year 2000 will show unusually strong growth of 40%.
"It would be crazy if it kept up that pace in 2001," he said. "We believe - and this is a widely held view - that the market will grow less quickly in 2001, but then more strongly than in 2001 in 2002."
He repeated that ASML will ship between 320 and 330 systems this year.
ASML shares have fallen from EUR32.30 at the start of November to a low of EUR22.90 on Nov. 23. Since then, they have recovered somewhat and closed up EUR1.00, or 4%, at EUR25.80 in Amsterdam Wednesday.
D'Hoore also said the company's merger with Silicon Valley Group Inc. (SVGI) of the U.S. is on track for approval by SVG shareholders, and looks to be completed sometime in the first half of next year, possibly as early as February.
He said U.S. antitrust approval has already been obtained, and he expects no trouble with a U.S. government approval needed by foreign buyers of companies "of strategic interest" such as semiconductor equipment makers. He noted ASML will be bringing production of its newest line of lithography systems to the U.S., and thereby essentially importing rather than exporting new technology.
Company website: asml.com |
