DRAM manufacturers, in particular Samsung and Hynix are placing new orders with ASML for 193nm ArF immersion tools as they ramp 4xnm production, sparking a significant boost to the lithography suppliers third quarter financial results and forward bookings. ASML saw net sales increase to €555 million, compared to second quarter sales of €277 million. 24 lithography systems were shipped in the quarter, which were valued at €459 million. Service revenue reached € 96 million. 13 immersion systems were shipped, including 2 used systems. Bookings in the quarter reached 35 systems valued by ASML at €777 million, pushing the order backlog to€ 1,353 million, consisting of 54 systems including 37 immersion tools. ASML noted that 71% of the order backlog (€958 million) carries shipment dates in the next 6 months, up from 59% in Q209.
"ASML's third quarter sales doubled from the second quarter, stemming from technology transition demand for our state-of-the-art immersion lithography systems as new DRAM devices are introduced and as Foundry customers are ramping 40 nanometer (nm) products," commented Eric Meurice, President and Chief Executive Officer of ASML. "We shipped our first NXT:1950i system, offering best-in-class overlay of less than three nanometers and improved imaging, enabling the next generation of semiconductors with patterning below 30 nm. We kept a close rein on costs and retained a healthy cash position above EUR 1 billion even as we invest in working capital to prepare for sales growth."
ASML expects continued technology migration buys to continue in the fourth quarter, including purchases from the major foundries as they ramp sub-45nm production. Q4 2009 net sales are expected to similar to Q3 of around €550 million.