Dutch semiconductor group ASML Holding NV (ASML.AE) reported Wednesday a 35% rise in net profit for the third quarter of 2017, on the back of strong sales.
The company made a net profit of 574.8 million euros ($676.4 million) in the three months ended Oct. 1, compared with EUR425.5 million in the year-earlier period. Total net sales were up 35% to EUR2.45 billion during the quarter and third-quarter net sales increased by 16% on the previous three months.
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ASML said the ahead-of-expectations profit rise was partially due to the addition of an extreme ultraviolet lithography system, combined with strong demand across its entire product portfolio.
The semiconductor company said it expects net sales around EUR2.1 billion for the fourth quarter of 2017 and backed its full-year net sales growth target of at least 25%.
"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 euros, which is driven by all product categories," ASML President and Chief Executive Peter Wennink said.
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(END) Dow Jones Newswires
October 18, 2017 04:13 ET (08:13 GMT)