ASML net profit rises; sees stronger second half

ASML reported net profit of EUR466.3 million in 2Q 2017 on net sales of EUR2.10 billion with a gross margin of 45%. "ASML Holding 2Q Net Profit Rises 8.1%; Sees Stronger 2H," at 0518 GMT, misstated the 2Q 2017 figures in the second, third and fourth paragraphs. The on-year percentage change in net profit was therefore also incorrect in the headline and first paragraph, as was the sales rise in the third paragraph. The correct version follows:

Dutch semiconductor company ASML Holding NV (ASML.AE) said Wednesday that net profit for the second quarter rose 25%, on the back of sales that exceeded expectations, and anticipated a stronger second half.

Quarterly net profit was 584 million euros ($683.0 million) compared with EUR466.3 million in the year-earlier period, ASML said. Analysts expected the company to make a net profit of EUR529 million, according to a consensus based on forecasts by nine analysts polled by FactSet.

Net sales for the second quarter were EUR2.74 billion, up 30% from EUR2.10 billion in the same period last year, the company said. The company had guided for second-quarter sales of between EUR2.5 billion and EUR2.6 billion.

Second-quarter gross margin was 43.3% compared with 45% in the year-earlier period, ASML said.

ASML guided for third-quarter net sales of EUR2.7 billion to EUR2.8 billion and gross margin of between 47% and 48%. ASML also said it expects the second half to be stronger, with improved profitability and continued growth.

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