UPDATE 1-ASML raises sales outlook as Q2 beats forecasts

* Q2 Sales 1.07 bln euros vs expected 1 bln euros

* Projects 2010 sales at 10 to 15 pct above 3.8 bln euros

* Says 2010 sales level to continue into 2011

(Adds CEO comment, detail, background)

AMSTERDAM, July 14 (BestGrowthStock) – Dutch chip equipment maker
ASML (ASML.AS: )(ASML.O: ) on Wednesday raised its full year sales
outlook as it sees robust demand for its machines that produce
chips for PCs and smartphones.

The world’s largest maker of semiconductor lithography
machines, which map out electronic circuits on silicon wafers,
said second quarter sales were 1.07 billion euros ($1.35
billion) up from 742 million euros in the previous quarter.

That was above analysts’ average expectations of 1.025
billion euros in a Reuters poll. [ID:nWEA9397]

The value of its new orders, seen as a barometer for the
chipmaking industry, rose to 1.12 billion euros, which was also
above expectations.

The Veldhoven-based company now expects 2010 sales to rise
10 to 15 percent above its 2007 peak of 3.8 billion euros, up
from a previous guidance of at least 3.8 billion euros.

“This level of sales is expected to continue into 2011,
barring a major macro-economic downturn, as it is supported by a
number of fundamental growth drivers,” ASML Chief Executive Eric
Meurice said in a statement.

ASML’s customers include the world’s largest chip maker
Intel Corp (INTC.O: ), which reported better than expected results
this week. [ID:nN12197658]

ASML also competes with Japan’s Nikon Corp (7731.T: ) and
Canon Inc (7751.T: )
($1=.7939 Euro)
(Reporting by Harro ten Wolde; Editing by Samia Nakhoul)

UPDATE 1-ASML raises sales outlook as Q2 beats forecasts