EX-99 3 lonexh.txt EXHIBIT 99.1 Exhibit 99.1 Media Contacts: Tom McGuire - Corporate Communications - +31.40.268.5758 - Veldhoven, the Netherlands Beth Kitchener - Corporate Communications - +31.40.268.2602 - Veldhoven, the Netherlands Investor Relations Contacts: Doug Marsh - U.S. Institutional Investor Relations +1.480.383.4006 - Tempe, Arizona, USA Craig DeYoung - Investor Relations +31.40.268.3938 - Veldhoven, the Netherlands ASML DISCLOSES RESULTS OF ANNUAL SHAREHOLDER MEETING Provides 2002 Financial Information by Quarter VELDHOVEN, the Netherlands, March 26, 2003 - ASML Holding NV (ASML) 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 31, 2002; (ii) the proposal to increase the remuneration of the Supervisory Board with an amount of EUR 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 option right; (iv) a proposal to authorize the Board of Management through September 25, 2004 to issue shares equivalent up to 10 percent of ASML's paid-up capital 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 in connection with such issuance; and (v) a proposal to authorize the Board of Management through September 25, 2004 to repurchase 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 National Market. In addition, the General Meeting fully discharged the members of the Board of Management and the Supervisory Board 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. 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*
Summary Consolidated Statements of Operations (unaudited) ------------------------------------------------------------------------------------------------------------- Amounts in EUR thousands except per share data March 31 June 30 September 29 December 31 Totals ------------------------------------------------------------------------------------------------------------- Number of machines sold 13 65 36 91 205 ------------------------------------------------------------------------------------------------------------- Average selling price of new machines 8,423 8,612 8,177 9,572 8,917 ------------------------------------------------------------------------------------------------------------- Net sales 178,729 608,777 351,540 819,626 1,958,672 ------------------------------------------------------------------------------------------------------------- Gross profit on sales 17,236 215,569 93,441 141,358 467,604 ------------------------------------------------------------------------------------------------------------- R&D costs (net of credits) 69,297 75,354 69,408 84,345 298,404 ------------------------------------------------------------------------------------------------------------- SG&A costs 61,203 71,737 69,585 60,718 263,243 ------------------------------------------------------------------------------------------------------------- Net income (loss) from continued operations (85,896) 39,822 (35,611) (6,360) (88,045) ------------------------------------------------------------------------------------------------------------- Net income (loss) from discontinued operations (21,683) (30,366) (24,378) (43,351) (119,778) ------------------------------------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------------------------------------
Summary Consolidated Balance Sheets
------------------------------------------------------------------------------------------------------------- Amounts in EUR thousands except per share data March 31 June 30 September 29 December 31 ------------------------------------------------------------------------------------------------------------- Cash and cash equivalents 711,980 602,809 408,480 668,760 ------------------------------------------------------------------------------------------------------------- Net accounts receivable 387,811 554,768 511,514 556,664 ------------------------------------------------------------------------------------------------------------- Net inventories 903,388 870,547 952,575 730,025 -------------------------------------------------------------------------------------------------------------
Summary Consolidated Statements of Cash Flows
------------------------------------------------------------------------------------------------------------- Amounts in EUR thousands except per share data March 31 June 30 September 29 December 31 Totals ------------------------------------------------------------------------------------------------------------- Net cash flows (used) provided by continuing operations (194,035) (55,714) (156,990) 294,163 (112,576) -------------------------------------------------------------------------------------------------------------
* All figures based on US GAAP About ASML ASML is the world's leading provider of lithography systems for the semiconductor industry, manufacturing complex machines that are critical to the production of integrated circuits 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.