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Technology Stocks : ASML Holding NV -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (1010)	1/24/2006 10:18:13 AM
From: niek	Read Replies (1) \| Respond to of 43297

The following is a press release from Fitch Ratings: Fitch: Q4 Results Underline Ratings Momentum at ASML London-24 January 2006: Fitch Ratings today commented that a strong set of Q405 and full year results by ASML Holdings N.V. ("ASML") underlined the momentum implied by the Positive Outlook on the company's long-term rating of 'BB-' (BB minus)'. "ASML has reported a robust set of full year results, bucking a market trend that is expected to report overall semiconductor capital equipment spending to be down by around 11%* in 2005," says Stuart Reid, a Director in Fitch's European TMT Group in London. "Amid tough market conditions - with wafer fab equipment spending down by 9% - increased revenues and strong growth in earnings at ASML, underline the Positive Outlook the agency maintains on the company's rating. The success the company is having in shipping higher priced Arf (argon fluoride) and immersion tools, has enabled the company to outperform the market, while a good order backlog sets a positive tone for the first half of 2006." Fitch's comments accompany ASML's Q405 and full year results which saw revenues grow by 3% to EUR2,529 million and operating earnings reach EUR449m for the year. An operating margin of 17.8% was a full 2.4 percentage points ahead of 2004, reflecting strong average selling prices ("ASPs") and ongoing progress in cost containment. While the company shipped some 30% fewer units in the year, revenue growth reflected strong ASPs as the company shipped an increasing share of higher priced Arf and growing traction in its market-leading "Twinscan" and immersion technologies. So far the company has delivered 13 immersion systems and has a further 13 in the backlog. The order backlog, which includes a total of 95 units with an ASP of EUR15.1m (80% of which have a 1Q or 2Q delivery) sets the tone for a robust 1H06. The agency's comments also follow a site-tour of the company's fab at Veldhoven. Fitch was impressed by the scale and sophistication of the company's operations - with the company demonstrating the competitive advantage of its Twinscan and immersion technologies - technologies which neither of the company's Japanese competitors have yet mastered. The combination of last week's earnings announcement and the recent site tour help consolidate Fitch's positive view of the company. The 'BB-' (BB minus)' rating, which was assigned in November 2005, is a relatively cautious view taking into account the volatility of the capital equipment cycle, the fact that semiconductor markets are not expected to peak before 2008, and the company's relatively weak performance through the last down-cycle. The agency recognizes however, the much stronger fundamentals of the company today, underlined by the company's improved cost structure, leading edge technology and dominant industry position. A net cash position of EUR1bn adds further underlying support for the rating. ASML is the market leader in the manufacture of microlithography equipment, an essential part in the semiconductor manufacturing process. Based in Veldhoven, the Netherlands, the company has 5,055 employees, and generated 2005 revenues and EBITDA of EUR2.53bn and EUR548m (margin of 21.7%).

To: Proud_Infidel who wrote (1010)	9/25/2006 9:55:24 AM
From: niek	Read Replies (1) \| Respond to of 43297

SDRAM shows buoyant signs amid insufficient supply DigiTimes.com Monday 25 September 2006] The buoyant price trend of SDRAM is likely to persist, thanks to seasonal effects and limited supply from leading players, according to industry players. DRAMeXchange observes that prices of SDRAM have increased recently along with a seasonal demand boost for consumer electronics. The persistent shortage of DRAM as well as the recent uptick of NAND flash have further put pressure on the available capacity of SDRAM from leading players including Hynix Semiconductor and Samsung Electronics. Sources indicated that Hynix’s Wuxi, China plant is now fully geared up for DDR2 production after achieving satisfactory yields on SDRAM production. The sources explained that DRAM makers usually produce SDRAM at a new site to test production quality prior to mass production of DRAM. Quotes for mainstream 256Mbit SDRAM 133MHz (16Mbitx16) and 64Mbit 143/166MHz (4Mbitx16) chips have grown by 3.96% and have been stable over the past three months and closed at US$2.83 and US$0.85, respectively, on September 25, according to figures posted by DRAMeXchange.