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ASML Reports Record Earnings, Cautions Investors on Mini-Tender Offer and Sets Agenda for Annual General Meeting
ASML Reports Strong First Quarter Earnings, Boosted by Chipmaking Demand
VELDHOVEN, Netherlands, Feb 9 (Reuters) - Chip toolmaking giant ASML (ASML.AS) reported record first-quarter earnings on Friday, driven by strong demand for its lithography systems used in the production of computer chips. The company also cautioned investors regarding a mini-tender offer from Tutanota LLC and announced the agenda for its upcoming Annual General Meeting.
ASML's Production Capacity Ramps Up for New 350 Million Euro Lithography System
ASML said it is ramping up production of its new EXE:5200 lithography system, which is expected to cost around 350 million euros. The system is designed to produce chips with smaller features and higher performance, and is expected to be in high demand by chipmakers as they transition to the next generation of semiconductor technology.
ASML Cautions Investors on Tutanota LLC's Mini-Tender Offer
ASML also cautioned investors regarding a mini-tender offer from Tutanota LLC. Mini-tender offers are typically offered at a price that is below the market price, and are often made by companies seeking to acquire shares of a particular company for a profit. ASML urged investors to exercise caution and consult with a financial advisor before making any decisions regarding the offer.
ASML Sets Agenda for Annual General Meeting
In addition, ASML announced the agenda for its upcoming Annual General Meeting (AGM), which is scheduled to be held on April 17, 2024. The AGM will include a proposal to approve the company's financial statements, the election of board members, and the appointment of an external auditor.
ASML Earnings Beat Estimates, Continuing Consecutive Earnings Beat Streak
ASML's first-quarter earnings per share (EPS) of 5.29 euros beat analyst consensus estimates of 5.39 euros. This marks ASML's consecutive earnings beat since the fourth quarter of 2022. The company is expected to report its second-quarter earnings on July 19, 2024.
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