With semiconductor makers resuming capital spending once more, ASML Holding NV reported better-than-expected results in the second quarter.
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ASML makes lithography systems that imprint circuitry on chips and flat panel displays, typically selling for more than $30 million each. The Netherlands-based company has a large manufacturing plant in Wilton with some 700 employees at last report, making ASML the largest high-tech employer in Fairfield County.
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In the second quarter, sales totaled nearly $1.4 billion, nearly quadruple their levels of a year ago and up 44 percent from the first quarter of 2010. ASML”™s $304 million second-quarter profit easily erased its $132 million loss of a year ago.
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ASML expects a slight increase in sales during the current quarter.
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In a press release, CEO Eric Meurice attributed the increases to chip foundries and device manufacturers “continued catch-up on under-investments” the past few years.
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“We now expect full year 2010 sales to grow 10 to 15 percent above our historical peak sales of ($4.8 billion),” Meurice said. “This level of sales is expected to continue into 2011, barring a major macro-economic downturn ”¦ In order to support this strong structural demand we will add flexible manufacturing capacity. We will also increase our research and development.”
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