March 30, 2020 / 6:35 AM / 2 months ago

ASML cuts guidance for first-quarter sales amid coronavirus

FILE PHOTO: ASML Holding logo is seen at company's headquarters in Eindhoven, Netherlands, Januari 23, 2019. REUTERS/Eva Plevier

AMSTERDAM (Reuters) - Dutch semiconductor equipment maker ASML (ASML.AS) said on Monday it expected its revenue in the first quarter to be significantly lower than expected due to the global coronavirus outbreak.

ASML said revenues were expected to be between 2.4 billion and 2.5 billion euros ($2.77 billion) in the first quarter, with a gross margin of 45% to 46%.

The company had previously forecast revenues of 3.1 billion to 3.3 billion euros.

ASML said that demand for its products remains strong but it had experienced delays and shipping difficulties to customers in Wuhan, China “as well as other customers due to shipment and travel restrictions” regarding the coronavirus outbreak.

Reporting by Bart Meijer, editing by Lousie Heavens

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