Chipmaker ASML sees Q2 profit drop on sales fall
(AP) ASML Holding NV, the largest supplier of manufacturing equipment to computer chip makers, says its net profit fell to 292 million ($359 million) in the second quarter from 432 million in the same period a year ago.
The company announced Wednesday that its sales for the quarter dropped to 1.2 billion ($1.47 billion) from 1.5 billion in the second quarter of 2011.
President and CEO Eric Meurice says he expects sales to remain steady in the second half of the year at 2.2 billion-2.4 billion.
Veldhoven, Netherlands-based ASML makes machines that map out the circuitry of semiconductor chips.
Intel Corp announced last week intends to take a 15 percent stake in ASML for around $3.07 billion, and will help fund its research into new technologies.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.