ASML Q1 Net Profit Jumps

reported a 62% gain in its profit for the first quarter. ASML's net profit for the quarter climbed to 402.7 million euros, or 0.93 euro per share, versus a year-ago profit of 249.1 million euros, or 0.56 euro per share. Its revenue surged to EUR1.65 billion from EUR1.4 billion. Net system sales climbed to 1.25 billion euros from 1.03 billion euros. Operating margin widened 860 basis points to 27.6%, while gross margin rose 360 basis points to 47.2%. During the quarter, ASML sold 47 systems, compared to 35 systems in the year-ago period. "Our first-quarter net sales came in as guided at 1.65 billion euros, driven by continued strong DRAM memory segment sales in combination with higher foundry segment sales. Our gross margin rose to 47.2 percent, a reflection of product mix as well as better utilization of our production facilities, which was partly offset by unfavorable foreign exchange effects. Our Q2 guidance of around 1.6 billion euros of net sales confirms our earlier expectation that the first half of 2015 will be stronger than the second half of 2014." The company projects sales of EUR1.6 billion for the second quarter. ASML shares gained 0.16% to close at $99.97 yesterday.