April 17, 2013 / 5:19 AM / 5 years ago

ASML Q1 results beat, announces share buy-back, CEO change

AMSTERDAM, April 17 (Reuters) - ASML, the world’s leading provider of tools for making computer chips, reported better-than-expected first-quarter results on Wednesday and reiterated its full-year outlook for sales.

The Dutch firm, seen as a barometer for the tech sector, also announced a share buy-back of up to 1 billion euros ($1.3 billion), and said its chief financial officer would become the next chief executive.

ASML reported net profit of 96 million euros on sales of 892 billion euros. Analysts in a Reuters poll had forecast a net profit of 82.1 million euros on sales of 859 million euros.

Current CFO Peter Wennink will succeed Eric Meurice as chief executive from July 1. Meurice will become chairman of ASML, and be an advisor to the new leadership team.

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