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Technology Stocks : Cymer (CYMI)
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To: FJB who wrote (12978)1/22/1998 3:51:00 PM
From: Narotham Reddy  Read Replies (1) of 25960
 
> ASMLF's see a 50% shortfall

At the presentation of its 1997 results Thursday, ASML chief Executive
and President Willem Maris said the number of Korean orders could be halved and production altered if its clients fail to come up with cash.

Maris mentioned specifically South Korea's liquidity problems and said ASMLF is in talks with the Dutch finance ministry about the situation there. ASML said 51% of its order backlog consists of orders from Taiwan and K.Korea. Of that total, 20% is in Korea, which Maris described as clearly problematic.

The situation in Taiwan is unclear but less serious, Maris said. Speaking about Asia as a whole, Maris said, "there is not really an alternative market.. that is not really an option".

He declined to give an exact forecast as to what impact the whole crisis will have on its 1998 earnings, but said he still expects to increase market share from 25% in 1997 but a few percent in the
near future.

He said the sales will be still high without Korea.

ASML lost an order for 13 of its steppers from Korea's Hyundai late last year. The order was not cancelled but bumped back a year, according to Maris.

ASML CFO Gerard Verdonschot said the group has about NLG100-150 million in outstanding debt in South Korea.

[Bridge News]

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Narotham
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