ASML ASML Holding NV

By Maarten van Tartwijk

AMSTERDAM--Semiconductor equipment maker ASML Holding NV (ASML.AE) said Wednesday that it remains on track to achieve record annual sales in 2016 after it reported third-quarter net profit that was slightly below expectations.

ASML, which makes photolithography machines for chip makers such as Intel Corp. and Samsung Electronics Co, said sales in the three months to the end of September were 1.82 billion euros ($2 billion), up 5% from the previous quarter.

Net profit was EUR396 million compared with EUR354 million in the previous quarter, slightly below analyst expectations of a EUR404 million.

ASML said sales came in higher than its own expectations because it recognized partial revenue for one extreme ultraviolet, or EUV, lithograpy system which was not included in its previous guidance. "This lifted third-quarter net sales above guidance but also decreased our gross margin by 1.4 percentage points," it said.

AMSL said it received three orders for its EUV systems in the quarter, while adding that "six customers are now actively engaged in the EUV introduction in both memory and logic."

Looking ahead, the company said it expects fourth-quarter sales of between EUR1.7 billion and EUR1.8 billion, with a gross margin of 47% to 48%. "This keeps us on track to finish the year with record annual sales, for the third consecutive year," Chief Executive Peter Wennink said.

-Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com

(END) Dow Jones Newswires

October 19, 2016 02:16 ET (06:16 GMT)

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