ASML 98 Net Profit Seen At EUR63.2M Vs EUR149M
Dow Jones Newswires
AMSTERDAM -- Analysts expect Dutch semiconductor equipment maker ASM Lithography Holding NV (ASMLF) to post a net profit of about EUR63.2 million for the year to Dec. 31 1998, down 58% from the 1997 figure of EUR149 million, due to the slump in the semiconductor industry.
ASML, which releases its results Thursday, builds and sells "steppers," machines used by semiconductor manufacturers to help cut silicon wafers into microprocessor chips.
Analysts' estimates for ASML's net profit range from EUR52.2 million to EUR135.2 million, with a consensus estimate of EUR63.2 million.
Earnings per share are estimated at between 38 cents to 50 cents, with a consensus estimate of 45 cents. In 1997, the company's earnings per share were EUR2.16. ASML had a two-for-one stock split early in 1998.
The analysts said the major reason for the sharp decline is the troubled semiconductor market. They said ASML's future performance will depend heavily on how the semiconductors market will develop.
Bert Siebrand, analyst with SNS Securities, said he expects lackluster results for ASML in fourth quarter 1998, and that the beginnings of an upturn will only be seen in ASML's first quarter results for 1999.
"We've seen a few months of higher semiconductor sales, but the year-on-year figures are still negative," Siebrand said. "Equipment producers like ASML haven't gotten more orders, not yet. There's a lag time of five to six months before ASML will feel the effects."
Ad van de Laar, analyst with Bank Labouchere in Amsterdam, said projections by U.S. market research group Dataquest Inc. for semiconductor fabrication equipment showed that '98 was a "very bad year" and that 1999 will show only a "slight recovery."
-By Toby Sterling; 31/20/626-0770; tsterling@ap.org
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