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ASML 1Q09 sales included only 1 immersion tool shipped

15 April 2009 | By Mark Osborne | News > Lithography

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The collapse in capital equipment spending in the first quarter of 2009 impacted ASML’s lithography sales to the extent that it only shipped one immersion tool in the first quarter of 2009. The company reported its lowest quarterly sales in nearly a decade, generating €184 million. Sales in the fourth quarter of 2008 totalled €494 million a fall of approximately 62%. ASML made a loss of   €117 million as well as de-booking 4 lithography ‘dry’ tools from its backlog, worth €56 million.

Eric Meurice, President and Chief Executive Officer of ASML“Although we will continue to be affected by the global economic recession and very limited capacity demand, we are seeing signs of a pick-up in technology purchases from the current low run rate,” commented Eric Meurice, President and Chief Executive Officer of ASML. “We estimate a normalized pattern of technology transitions to yield between EUR 400 million and EUR 500 million quarterly sales for ASML and, in view of the current technology transition activities by our customers, we expect to reach this level some time during the 2009 second half.”

During the conference call to discuss the quarterly figures, Meurice noted that increased sales are expected in the second half of the year due to increased activity in node migrations at DRAM and NAND manufacturers and foundries. He noted that spending would return at the Taiwan DRAM producers, which must migrate to the 5x nm node to remain competitive with tier 1 producers who are now increasing the level of 5x migration.

In Q1 2009, ASML sold 7 new and 4 used lithography systems, worth €101 million, and net service and field sales of €83 million, though this was impacted by low fab utilization rates.

Lithography tool backlog stood at €853 million up slightly from the previous quarter, though 60% is spread over the next 6-months, a wider spread than the typical trend. 61% of tools in the backlog were for memory manufacturing, 27% IDM’s and 12% foundries. However, only 9% of the backlog came from Taiwan, suggesting few if any of the tools in the backlog is currently from Taiwan DRAM manufacturers.

The company expects sales to increase slightly in the second quarter to between €210 and €230 million.

ASML currently has 5 EUV lithography tools on order and claimed the market would be worth approximately €7 billion in a few years, which it expected to retain a 70% market share. 
 

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