ASML 3Q earnings fall, names new CEO

ASML 3Q earnings fall by 51 percent; CFO to replace CEO in July

Associated Press

AMSTERDAM (AP) -- ASML Holding NV, the largest equipment supplier to semiconductor makers such as Intel Corp. and Samsung Inc., reported a 51 percent fall in first quarter earnings — in line with its own forecasts — and said CFO Peter Wennink will replace CEO Eric Meurice in July.

Meurice, who has been in the top job since October 2004, will remain as chairman through March 2014.

Net profit was 156 million euros ($206 million), down from 317 euros million in the same period a year ago. Sales fell 29 percent to 892 euros million. ASML said chipmakers are preparing for the next generation of chips for mobile phones and memory chip prices are rising, which will lead to sales increases. It forecast sales of 1.1 billion euros in the second quarter.

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