RTTNews | Apr 21, 2021 01:28AM EDT

01:27 Wednesday, April 21, 2021 (RTTNews.com) - Dutch semiconductor equipment maker ASML Holding N.V. (ASML) reported that its first-quarter net income surged to 1.33 billion euros or 3.20 euros per share from last year's 390.6 million euros or 0.93 euros per share.

Total net sales for the quarter grew to 4.36 billion euros from 2.44 billion euros in the previous year.

ASML expects second-quarter revenue to be between 4.0 billion euros and 4.1 billion euros with a gross margin around 49%.

The company plans to purchase shares up to 6 billion euros, which includes a total of up to 0.4 million shares to cover employee share plans. ASML intends to cancel the remainder of the shares repurchased. ASML purchased shares in the first-quarter for more than 1.6 billion euros.

The company now expects revenue growth towards 30% in 2021 compared to last year.

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