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ASML's net income rises amid strong sales across full product line

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ASML's net income rises amid strong sales across full product line

ASML Holding N.V. reported third-quarter earnings per share of €1.29 on a GAAP basis, up from 93 euro cents in the year-ago period, as net income rose year over year to €557.1 million, from €395.9 million.

The company's income from operations for the quarter ended Oct. 1 increased to €655.6 million, from €495.6 million during the quarter ended Oct. 2, 2016. Gross profit jumped year over year to €1.05 billion from €834.4 million.

Total net sales came in at €2.45 billion, up from €1.81 billion a year earlier. ASML President and CEO Peter Wennink said the increase in sales showed strong demand across the company's entire product portfolio.

The Dutch semiconductor equipment maker said it expects about €2.1 billion in net sales in the fourth quarter. With this guidance, Wennink confirmed the company's view that net sales for 2017 will be at least 25% higher than 2016 net sales.

"Our current view is that the positive business environment that we are seeing today will continue in 2018, supported by our strong backlog of €5.7 billion, which is driven by all product categories," Wennink said.