ASML ASML Holding NV

   By Razak Musah Baba 
 

LONDON--ASML Holding N.V.'s (ASML.AE) second quarter net income rose 3% from the previous quarter, the Dutch semiconductor group said Wednesday, adding that it will resume its share buyback program.

During the second quarter of 2017, ASML's net income was up at 466 million euros ($531.0 million) from EUR452 million the first quarter of the year. Net sales during the quarter rose to EUR2.10 billion from EUR1.94 billion in the previous quarter, the company said, adding that it expects third quarter net sales of around EUR2.2 billion.

"With these strong results in the second quarter, ASML is on track to achieving net sales growth of about 25% for the full year. This is driven by sales to memory customers, expected to grow about 50% from last year especially driven by DRAM, and sales to logic customers that are expected to grow about 15%," President and Chief Executive Officer Peter Wennink said.

"Our current view is that the positive business trends that we are seeing in 2017 are likely to continue as we enter 2018," Mr. Wennink said.

ASML in January 2016 announced its intention to purchase up to EUR1.5 billion worth of shares to be executed within the 2016-2017 time frame. ASML said Wednesday that following the completion of the acquisition of a 24.9% interest in Carl Zeiss SMT, it will resume its current share buyback program.

As a result of the pause in the program from July 20, 2016 until July 19, 2017, this program will likely not be completed for the full amount. The current program may be suspended, modified or discontinued at any time, the company said.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

July 19, 2017 01:57 ET (05:57 GMT)

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