ASML Discloses Results of Annual Shareholder Meeting; Provides 2002 Financial Information by Quarter.Business Editors VELDHOVEN Veldhoven ( (helpinfo)) is a municipality and a town on the Gender stream in the southern Netherlands, located just southwest of Eindhoven. , The Netherlands--(BUSINESS WIRE)--March 26, 2003 ASML Holding ASML is a Dutch company and the world’s primary supplier of lithography systems for the semiconductor industry. Of all the major chip producers worldwide, more than 80% are ASML customers. NV (ASML ASML Abstract State Machine Language ASML Anisotropic Shielded Microstrip Line ) today announced the results of its Annual General Meeting of Shareholders held on March 25, 2003. During the proceedings, the following were approved: (i) ASML's financial statements as at and for the year ended December December: see month. 31, 2002; (ii) the proposal to increase the remuneration REMUNERATION. Reward; recompense; salary. Dig. 17, 1, 7. of the Supervisory Board with an amount of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 10,000 per Committee membership; (iii) a proposal to extend the option right of the Stichting Preferente Aandelen ASML so that the Stichting Preferente Aandelen ASML may subscribe for a number of cumulative preference shares not to exceed the number of issued -- ordinary shares at the moment of exercising the aforementioned a·fore·men·tioned adj. Mentioned previously. n. The one or ones mentioned previously. aforementioned Adjective mentioned before Adj. 1. option right; (iv) a proposal to authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) the Board of Management through September 25, 2004 to issue shares equivalent up to 10 percent of ASML's paid-up capital Paid-Up Capital The total amount of shareholder capital that has been paid in full by shareholders. Notes: Paid-up capital is essentially the portion of authorized stock that the company has issued and received payment for. plus an additional 10 percent of ASML's paid up capital to be used in connection with mergers and acquisitions and to restrict or exclude shareholders' pre-emption rights A pre-emption right is a right to acquire certain property in preference to any other person. It usually refers to property newly coming into existence; a right to acquire existing property in preference to any other person is usually referred to as a right of first refusal in connection with such issuance; and (v) a proposal to authorize the Board of Management through September 25, 2004 to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. up to 10 percent of the issued share capital of ASML at a price between the par value of the shares acquired and 110 percent of the average market price of these securities on Euronext Amsterdam or the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market. In addition, the General Meeting fully discharged the members of the Board of Management and the Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. for the performance of their respective duties in the financial year 2002. Furthermore, the Supervisory Board reappointed Messrs. J.A. Dekker and P.H. Grassmann to the Supervisory Board for additional terms. 2002 Financial Results Provided by Quarter As preparation for the Company's first quarterly reporting on April 16, 2003, ASML today disclosed 2002 financial results by quarter. ASML provides this information to assist shareholders and other interested parties in understanding its business. "We supply capital equipment to chip makers and their buying patterns differ from quarter to quarter. There are some indicators in a typical year. For example, customer demand is usually higher in the second and fourth quarters and there is more inventory after a slow sales quarter," said Peter Wennink, executive vice president and chief financial officer, ASML. "However, 2003 is expected to be the third year in the semiconductor industry's worst downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. . ASML only attests that the 2002 financial information is historically accurate and not an indication of future performance." ASML 2002 Select Financial Data by Quarter(1) Summary Consolidated Statements of Operations (unaudited)
Amounts in EUR
thousands
except per
share data March 31 June 30 September December Totals
29 31
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Number of machines sold
13 65 36 91 205
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Average selling price of
new machines
8,423 8,612 8,177 9,572 8,917
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Net sales 178,729 608,777 351,540 819,626 1,958,672
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Gross profit on sales
17,236 215,569 93,441 141,358 467,604
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R&D costs (net of
credits) 69,297 75,354 69,408 84,345 298,404
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SG&A costs 61,203 71,737 69,585 60,718 263,243
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Net income (loss) from
continued operations
(85,896) 39,822 (35,611) (6,360) (88,045)
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Net income (loss) from
discontinued operations
(21,683) (30,366) (24,378) (43,351) (119,778)
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Net income (loss) (107,579) 9,456 (59,989) (49,711) (207,823)
----------------------------------------------------------------------
Income (loss) per share
per quarter (0.23) 0.02 (0.13) (0.10) N/A
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Summary Consolidated Balance Sheets
Amounts in EUR
thousands except
per share data March 31 June 30 September December
29 31
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Cash and cash equivalents
711,980 602,809 408,480 668,760
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Net accounts receivable
387,811 554,768 511,514 556,664
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Net inventories 903,388 870,547 952,575 730,025
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Summary Consolidated Statements of Cash Flows
Amounts in EUR
thousands except March 31 June 30 September December Totals
per share data 29 31
----------------------------------------------------------------------
Net cash flows (used)
provided by
continuing operations
(194,035) (55,714) (156,990) 294,163 (112,576)
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(1) All figures based on US GAAP
About ASML ASML is the world's leading provider of lithography lithography (lĭthŏg`rəfē), type of planographic or surface printing. It is distinguished from letterpress (relief) printing and from intaglio printing (in which the design is cut or etched into the plate). systems for the semiconductor industry, manufacturing complex machines that are critical to the production of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. or chips. Headquartered in Veldhoven, the Netherlands, ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. For more information, visit the Web site at www.asml.com. |
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