Research Desk Line-up: Aehr Test Systems Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on ASML Holding N.V. (NASDAQ: ASML) ("ASML"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ASML, following the Company's announcement of its second quarter fiscal 2017 earnings results on July 19, 2017. The equipment supplier to semiconductor outperformed earnings expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Semiconductor Equipment & Materials industry. Pro-TD has currently selected Aehr Test Systems (NASDAQ: AEHR) for due-diligence and potential coverage as the Company announced on July 19, 2017, its financial results for Q4 FY17 and FY17 which ended on May 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on Aehr Test Systems when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ASML; also brushing on AEHR. With the links below you can directly download the report of your stock of interest-free of charge at:
http://protraderdaily.com/optin/?symbol=ASML
http://protraderdaily.com/optin/?symbol=AEHR
Earnings Reviewed
For the three months ended July 02, 2017, ASML reported net sales of €2.10 billion compared to net sales of €1.74 billion in Q2 2016. The Company's revenue number fell short of market estimates of €2.21 billion.
For Q2 2017, ASML's net systems' sales were valued at €1.38 billion compared to net systems' sales of €1.27 billion in Q2 2016. The Company's service and field option's sales totaled €717 million compared to €474.2 million in the prior year's same quarter, driven by major DUV and Holistic Lithography upgrades.
ASML's gross margin for Q2 2017 came in at 45%, slightly higher than the Company's expectations, driven by a higher top-line and a favorable mix. ASML's R&D expenses were at €313 million, slightly lower than its expectations, and SG&A expenses came in slightly higher at €102 million driven by litigation expenses.
ASML reported second-quarter earnings of €466.3 million compared to €353.8 million in Q2 2016. On a per-share basis, the Veldhoven, Netherlands-based Company posted earnings of €1.08 per share versus €0.83 per share in the prior year's comparable quarter. ASML's results surpassed expectations of €1.06 per share.
Order Book
For Q2 2017, ASML's net bookings totaled €2.38 billion, including orders for eight 3,400 EUV systems from two customers. The Company stated that six of the EUV orders came from one customer for using both logic and DRAM. ASML's total bookings were approximately €500 million higher on a sequential basis. ASML stated that continuing order flow for EUV systems increased its EUV backlog to 27 systems valued at €2.8 billion. At the end of the reported quarter, the Company's overall systems backlog stood at a record €5.35 billion.
Balance Sheet Review
ASML's cash, cash equivalents, and short-term investments came in at €2.51 billion. In January 2016, ASML announced its intention to purchase up to €1.5 billion of shares to be executed within the 2016-2017 time frame. The Company stated that following the successful completion of the acquisition of a 24.9% interest in Carl Zeiss SMT, ASML will resume its current share buyback program. As a result of the pause in the program from July 20, 2016, until July 19, 2017, the Company noted that this program will likely not be completed for the full amount.
Outlook
For Q3 2017, ASML expects net sales around €2.2 billion which include approximately €300 million EUV revenue. The Company expects to post a gross margin of approximately 43%; R&D costs of about €315 million; other income of around €24 million; SG&A costs of approximately €105 million; and an effective annualized tax rate around 14% for the upcoming quarter.
ASML is forecasting FY17 net sales to grow approximately 25% from its previous record revenue of €6.8 billion in FY16.
Stock Performance
On Thursday, July 20, 2017, the stock closed the trading session at $153.82, climbing 2.12% from its previous closing price of $150.63. A total volume of 2.97 million shares has exchanged hands, which was higher than the 3-month average volume of 867.48 thousand shares. ASML Holding's stock price skyrocketed 18.28% in the last three months, 26.23% in the past six months, and 42.22% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 37.09%. The stock is trading at a PE ratio of 33.54 and has a dividend yield of 0.83%. At Thursday's closing price, the stock's net capitalization stands at $65.16 billion.
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