ASML Holding NV Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Earnings Guidance for the First Quarter of 2014 and Reiterates Sales Guidance for First Half of 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2013
January 22, 2014 at 10:57 am
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ASML Holding NV reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total net sales of EUR 1,848.3 million against EUR 1,023.1 million a year ago. Income from operations was EUR 479.8 million against EUR 185.3 million a year ago. Income before income taxes was EUR 476.3 million against EUR 181.9 million a year ago. Net income was EUR 481.1 million or EUR 1.08 per diluted share against EUR 297.7 million or EUR 0.65 per diluted share a year ago. Net cash provided by operating activities was EUR 521.8 million against net cash used in operating activities of EUR 255.5 million a year ago. Purchase of property, plant and equipment was EUR 77.7 million against EUR 35.7 million a year ago.
For the full year, the company reported total net sales of EUR 5,245.3 million against EUR 4,731.5 million a year ago. Income from operations was EUR 1,047.9 million against EUR 1,156.8 million a year ago. Income before income taxes was EUR 1,023.5 million against EUR 1,150.6 million a year ago. Net income was EUR 1,015.5 million or EUR 2.34 per diluted share against EUR 1,146.3 million or EUR 2.68 per diluted share a year ago. Net cash provided by operating activities was EUR 1,054.2 million against net cash used in operating activities of EUR 703.5 million a year ago. Purchase of property, plant and equipment was EUR 210.8 million against EUR 171.9 million a year ago. Purchase of intangible assets was EUR 4.0 million against EUR 7.6 million a year ago.
For the first quarter, the company expected net sales are around EUR 1.4 billion. The expected first-quarter gross margin of around 42% is impacted by the product mix relative to fourth quarter of 2013. Similar to fourth quarter of 2013, the expected first quarter 2014 gross margin includes a negative impact from one NXE:3300B EUV system, without which the gross margin would be 1.9% points higher.
For the first half of 2014, the company reiterates sales of around EUR 3 billion, excluding EUV.
For the quarter, the company reported impairment of EUR 9.9 million against EUR 0.5 million a year ago.
ASML Holding N.V. is one of the world leaders in the manufacturing of lithography equipment for the semiconductor industry. The group's equipment is used to print integrated circuits on very thin silicon chips. Net sales break down by activity as follows:
- sale of lithography equipment (79.6%). The group also offers optical products and components for lithography;
- services (20.4%).
Net sales are distributed geographically as follows: the Netherlands (0.1%), Europe-Middle East-Africa (4.4%), Taiwan (29.3%), South Korea (25.2%), China (26.3%), Japan (2.2%), Singapore (1%), Asia (0.1%) and the United States (11.4%).
ASML Holding NV Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Earnings Guidance for the First Quarter of 2014 and Reiterates Sales Guidance for First Half of 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2013