6-k

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF A FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For April 15, 2009

ASML Holding N.V.

De Run 6501
5504 DR Veldhoven
The Netherlands
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ Form 40-F o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

EXHIBITS 99.1, 99.3 AND 99.4 TO THIS REPORT ON FORM 6-K ARE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-13332), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-105600), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-109154), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-116337), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-126340), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-136362), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-141125), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-142254), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-144356), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-147128), AND THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-153277) OF ASML HOLDING N.V.

TABLE OF CONTENTS


SIGNATURES
EX-99.1
EX-99.2
EX-99.3
EX-99.4


Exhibits

99.1		“ASML announces 2009 First Quarter Results — In a very difficult quarter ASML generates cash and prepares for pick-up of technology purchases,” press release dated April 15, 2009

99.2		“ASML 2009 First Quarter Results — In a very difficult quarter ASML generates cash and prepares for pick-up of technology purchases,” presentation dated April 15, 2009

99.3		Summary U.S. GAAP Consolidated Statements of Operations

99.4		Summary IFRS Consolidated Statements of Operations

“Safe Harbor” Statement under the US Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements, including statements made about our outlook, realization of backlog, IC unit demand, financial results, average sales price, gross margin and expenses. These forward looking statements are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors (the principal product of our customer base), including the impact of credit market deterioration on consumer confidence and demand for our customers’ products, competitive products and pricing, manufacturing efficiencies, new product development and customer acceptance of new products, ability to enforce patents and protect intellectual property rights, the outcome of intellectual property litigation, availability of raw materials and critical manufacturing equipment, trade environment, changes in exchange rates and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	ASML HOLDING N.V. (Registrant)
Date: April 15, 2009	By:	/s/ Peter T.F.M. Wennink
		Peter T.F.M. Wennink
		Executive Vice President and Chief Financial Officer

Exhibit 99.1

Media Relations Contacts
Lucas van Grinsven — Corporate Communications — +31 40 268 3949 — Veldhoven, the Netherlands

Investor Relations Contacts
Craig DeYoung — Investor Relations — +1 480 383 4005 — Tempe, Arizona, USA
Franki D’Hoore — Investor Relations — +31 40 268 6494 — Veldhoven, the Netherlands

ASML announces 2009 First Quarter Results

In a very difficult quarter ASML generates cash and prepares for pick-up of technology purchases

VELDHOVEN, the Netherlands, April 15, 2009 — ASML Holding NV (ASML) today announces 2009 first quarter results according to US GAAP as follows:

	•		Q1 2009 net sales of EUR 184 million versus Q4 2008 net sales of EUR 494 million (Q1 2008 net sales of EUR 919 million).

	•		Q1 2009 net loss of EUR 117 million, or 63.8 percent of net sales, versus a Q4 2008 net loss of EUR 88 million or 17.8 percent of net sales (Q1 2008 net income of EUR 145 million or 15.8 percent of net sales).

	•		Q1 2009 net bookings valued at EUR 207 million with 8 systems including 4 new and 4 used systems, leading to an order backlog valued at EUR 853 million as of March 29, 2009.

“As expected, semiconductor equipment demand collapsed in the first quarter of 2009 as customers went through inventory corrections and production capacity adjustments,” said Eric Meurice, president and Chief Executive Officer of ASML. “In spite of these exceptional circumstances, ASML was able to generate cash, thanks to the execution of our cost savings program and a more than EUR 300 million working capital reduction. While we exercised some operational savings in research and development (R&D), we maintained all our strategic investments and were able to deliver on significant new product milestones; in particular, we proved Extreme Ultraviolet (EUV) imaging with the first full field 28 nanometer (nm) dense lines presented at the SPIE Advanced Lithography conference in February and confirmed EUV pre-production system

Page 1 of 6

deliveries in 2010, while we introduced a new suite of Lithography-aware design and manufacturing tools, helped by our Brion subsidiary. To further support the financing of our R&D and infrastructure investments in EUV, we secured a EUR 200 million loan facility from the European Investment Bank at favorable terms, which can be drawn over the next 18 months,” Meurice added.

Operations Update

In Q1 2009, ASML’s net sales of EUR 184 million included 7 new and 4 used systems, totaling net system sales of EUR 101 million, and net service and field options sales of EUR 83 million. Net system sales for Q4 2008 included the shipment of 15 new and 10 used machines, totaling EUR 381 million, and net service and field options sales of EUR 113 million.

The Q1 2009 average selling price for a new system was EUR 13.8 million, compared with the Q4 2008 average selling price for a new system of EUR 20.4 million. The Q1 2009 average selling price for all ASML systems sold was EUR 9.2 million, compared with the Q4 2008 average selling price of EUR 15.2 million.

Q1 2009 net bookings totaled 8 systems valued at EUR 207 million.

ASML’s order backlog as of March 29, 2009 was EUR 853 million, totaling 38 systems with an average selling price of EUR 22.4 million. ASML’s backlog as of December 31, 2008 was valued at EUR 755 million, totaling 41 systems with an average selling price of EUR 18.4 million.

In Q1 2009, ASML generated a net loss of EUR 117 million, or EUR 0.27 per ordinary share as compared with a net loss in Q4 2008 of EUR 88 million or EUR 0.20 per ordinary share. Excluding restructuring and impairment charges of EUR 138 million in Q4 2008, ASML would have booked net income of EUR 11 million.

The company’s Q1 2009 gross margin was 6.7 percent, the result of extraordinarily low net sales levels.

Page 2 of 6

Q1 2009 research and development (R&D) costs were EUR 118 million net of credits down from Q4 2008 R&D costs of EUR 127 million net of credits.

Selling, general and administrative (SG&A) costs were EUR 41 million in Q1 2009, compared with SG&A costs of EUR 47 million in Q4 2008.

Net cash from operations was EUR 82 million in Q1 2009. ASML ended Q1 2009 with EUR 1,151 million in cash and cash equivalents, compared with EUR 1,109 million at the end of Q4 2008. Cash flow was positively impacted by management of our working capital and cost structure, offset by lengthening receivables collection periods and by capital expenditures in new manufacturing facilities needed for future generations of lithography equipment.

To support the financing of our EUV investment efforts, ASML has signed a EUR 200 million loan facility with the European Investment Bank. The floating rate facility, which can be drawn in tranches within the next 18 months, will be repayable in annual installments after four years, with a final repayment seven years after drawdown.

Outlook

“Although we will continue to be affected by the global economic recession and very limited capacity demand, we are seeing signs of a pick-up in technology purchases from the current low run rate. We estimate a normalized pattern of technology transitions to yield between EUR 400 million and EUR 500 million quarterly sales for ASML and, in view of the current technology transition activities by our customers, we expect to reach this level some time during the 2009 second half. These investments, mainly in immersion technology, are driven by the ramp of the NAND Flash 35 nm node, the DRAM 55 nm node, and the Logic 45 nm node. A firming up of Foundry capacity utilization and the progress of the Taiwanese DRAM consolidation initiative are certainly enabling the current level of activity. Yet we remain cautious as to the short-term and mid-term market developments and continue managing the company for cash generation and long term cost structure optimization, while keeping our current aggressive technology development roadmap,” Meurice said.

Page 3 of 6

ASML expects Q2 2009 net sales between EUR 210 million and EUR 230 million, and gross margin in Q2 2009 of about 9 percent. R&D expenditures are expected to be at EUR 118 million net of credits and SG&A costs are expected at EUR 41 million. We plan for cash from operations and investments to be neutral in the first half of 2009.

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. ASML has more than 6,700 employees (expressed in full time equivalents), serving chip manufacturers in more than 60 locations in 15 countries. For more information, visit our website: www.asml.com

IFRS Financial Reporting

ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting standard generally accepted in the United States. Quarterly US GAAP statements of operations, statements of cash flows and balance sheets, and a reconciliation of net income and equity from US GAAP to IFRS are available on www.asml.com

In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with IFRS for statutory purposes. The most significant differences between US GAAP and IFRS that affect ASML concern the capitalization of certain product development costs, the accounting of stock option plans and the accounting of income taxes. Quarterly IFRS statements of operations, statements of cash flows, balance sheets and a reconciliation of net income and equity from US GAAP to IFRS are available on www.asml.com

The consolidated balance sheets of ASML Holding N.V. as of March 29, 2009, the related consolidated statements of operations and consolidated statements of cash flows for the quarter ended March 29, 2009 as presented in this press release are unaudited.

Page 4 of 6

Investor and Media Conference Call

A conference call for investors and media will be hosted by CEO Eric Meurice and CFO Peter Wennink at 15:00 PM Central European Time / 09:00 AM Eastern U.S. time. Dial-in numbers are: in the Netherlands +31 70 304 3371 and the US +1 706 679 0473. To listen to the conference call, access is also available via www.asml.com

A presentation about 2009 first quarter results is available on www.asml.com

A video statement of CFO Peter Wennink is available on www.asml.com

A replay of the Investor and Media Call will be available on www.asml.com

Regulated Information

This press release in combination with the US GAAP and IFRS financial statements published on www.asml.com comprises regulated information within the meaning of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht, “FMS Act”). Regulated and other information as described in the FMS Act as publicly disclosed during the twelve month period prior to April 15, 2009 is available on www.asml.com.

Forward Looking Statements

Page 5 of 6

intellectual property rights, the outcome of intellectual property litigation, availability of raw materials and critical manufacturing equipment, trade environment, changes in exchange rates and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission.

Page 6 of 6

Exhibit 99.3

ASML — Summary U.S. GAAP Consolidated Statements of Operations ¹


	Three months ended,
(in thousands EUR, except per share data)	Mar 30, 2008			Mar 29, 2009


Net system sales		819,986			101,100
Net service and field option sales		99,222			82,525

Total net sales		919,208			183,625

Cost of sales		545,583			171,263

Gross profit on sales		373,625			12,362

Research and development costs, net of credits		128,259			118,315
Selling, general and administrative costs		57,328			40,995

Income (loss) from operations		188,038			(146,948	)

Interest income (expense)		4,203			(1,031	)

Income (loss) from operations before income taxes		192,241			(147,979	)

(Provision for) benefit from income taxes		(47,118	)		30,788

Net income (loss)		145,123			(117,191	)

Basic net income (loss) per ordinary share		0.34			(0.27	)
Diluted net income (loss) per ordinary share		0.33	²		(0.27	) ²

Number of ordinary shares used in computing per share amounts (in thousands):
Basic		431,600			432,112
Diluted		434,959	²		432,112	²

ASML — Ratios and Other Data ¹


	Three months ended,
	Mar 30, 2008			Mar 29, 2009


Gross profit as a % of net sales		40.6			6.7
Income (loss) from operations as a % of net sales		20.5			(80.0	)
Net income (loss) as a % of net sales		15.8			(63.8	)
Shareholders’ equity as a % of total assets		44.5			48.0
Income taxes as a % of income before income taxes		(24.5	)		(20.8	)
Sales of systems total (in units)		50			11
ASP of systems sales (EUR million)		16.4			9.2
Value of backlog systems total (EUR million)		1,167			853
Backlog systems total (in units)		65			38
ASP of backlog systems (EUR million)		18.0			22.4
Value of booked systems total (EUR million)		312			207
Net bookings total (in units)		26			8
ASP of booked systems (EUR million)		12.0			25.8
Number of payroll employees in FTEs		6,765			6,715
Number of temporary employees in FTEs		1,686			959

ASML — Summary U.S. GAAP Consolidated Balance Sheets ¹


(in thousands EUR)	Dec 31, 2008		Mar 29, 2009


ASSETS

Cash and cash equivalents		1,109,184		1,151,010
Accounts receivable, net		463,273		291,644
Finance receivables, net		6,225		6,193
Current tax assets		87,560		—
Inventories, net		999,150		936,770
Deferred tax assets		71,780		74,850
Other assets		236,077		240,597

Total current assets		2,973,249		2,701,064

Finance receivables, net		31,030		29,250
Deferred tax assets		148,133		173,189
Other assets		88,197		89,519
Goodwill		131,453		139,727
Other intangible assets, net		26,692		25,554
Property, plant and equipment, net		540,640		586,644

Total non-current assets		966,145		1,043,883

Total assets		3,939,394		3,744,947

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities		1,008,343		1,017,524

Long-term debt		647,050		661,398
Deferred and other tax liabilities		209,699		204,875
Provisions		15,495		16,955
Accrued liabilities and other liabilities		70,038		48,244

Total non-current liabilities		942,282		931,472


Total liabilities		1,950,625		1,948,996

Shareholders’ equity		1,988,769		1,795,951

Total liabilities and shareholders’ equity		3,939,394		3,744,947

ASML — Summary U.S. GAAP Consolidated Statements of Cash Flows ¹


	Three months ended,
(in thousands EUR)	Mar 30, 2008			Mar 29, 2009


CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)		145,123			(117,191	)

Depreciation and amortization		29,025			37,876
Impairment		1,551			2,592
Loss on disposals of property, plant and equipment		1,103			2,639
Share-based payments		3,567			3,512
Allowance for doubtful debts		540			(13	)
Allowance for obsolete inventory		20,766			22,135
Deferred income taxes		20,589			(27,023	)
Change in assets and liabilities		45,088			157,714

Net cash provided by operating activities		267,352			82,241

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment		(55,032	)		(43,903	)
Proceeds from sale of property, plant and equipment		—			1,200

Net cash used in investing activities		(55,032	)		(42,703	)

CASH FLOWS FROM FINANCING ACTIVITIES

Purchase of shares in conjunction with share-based payment plans		(87,605	)		—
Net proceeds from issuance of shares and stock options		2,975			102
Excess tax benefits (deficiencies) from stock options		4			(221	)

Net cash used in financing activities		(84,626	)		(119	)


Net cash flows		127,694			39,419

Effect of changes in exchange rates on cash		(2,186	)		2,407

Net increase in cash & cash equivalents		125,508			41,826
					—

ASML — Quarterly Summary U.S. GAAP Consolidated Statements of Operations ¹


	Three months ended,
	Mar 30,			Jun 29,		Sep 28,			Dec 31,			Mar 29,
(in millions EUR, except per share data)	2008			2008		2008			2008			2009


Net system sales		820.0			725.6		590.7			380.5			101.1
Net service and field option sales		99.2			118.6		105.8			113.3			82.5

Total net sales		919.2			844.2		696.5			493.8			183.6

Cost of sales		545.6			506.7		431.1			454.8			171.2

Gross profit on sales		373.6			337.5		265.4			39.0			12.4

Research and development costs, net of credits		128.3			130.2		130.2			127.5			118.3
Selling, general and administrative costs		57.3			56.4		51.9			46.7			41.0

Income (loss) from operations		188.0			150.9		83.3			(135.2	)		(146.9	)

Interest income (expense)		4.2			6.4		7.1			5.0			(1.1	)

Income (loss) from operations before income taxes		192.2			157.3		90.4			(130.2	)		(148.0	)

(Provision for) benefit from income taxes		(47.1	)		34.7		(17.1	)		42.2			30.8

Net income (loss)		145.1			192.0		73.3			(88.0	)		(117.2	)

Basic net income (loss) per ordinary share		0.34			0.45		0.17			(0.20	)		(0.27	)
Diluted net income (loss) per ordinary share ²		0.33			0.44		0.17			(0.20	)		(0.27	)

Number of ordinary shares used in computing per share amounts (in thousands):
Basic		431,600			431,221		431,672			431,989			432,112
Diluted ²		434,959			434,585		434,491			431,989			432,112

ASML — Quarterly Summary Ratios and other data ¹


	Three months ended,
	Mar 30,			Jun 29,		Sep 28,			Dec 31,			Mar 29,
	2008			2008		2008			2008			2009


Gross profit as a % of net sales		40.6			40.0		38.1			7.9			6.7
Income (loss) from operations as a % of net sales		20.5			17.9		12.0			(27.4	)		(80.0	)
Net income (loss) as a % of net sales		15.8			22.7		10.5			(17.8	)		(63.8	)
Shareholders’ equity as a % of total assets		44.5			49.7		50.3			50.5			48.0
Income taxes as a % of income before income taxes		(24.5	)		22.1		(18.9	)		(32.4	)		(20.8	)
Sales of systems total (in units)		50			39		37			25			11
ASP of system sales (EUR million)		16.4			18.6		16.0			15.2			9.2
Value of backlog systems total (EUR million)		1,167			1,106		1,028			755			853
Backlog systems total (in units)		65			59		53			41			38
ASP of backlog systems (EUR million)		18.0			18.8		19.4			18.4			22.4
Value of booked systems total (EUR million)		312			632		498			127			207
Net bookings total (in units)		26			33		31			13			8
ASP of booked systems (EUR million)		12.0			19.2		16.1			9.8			25.8
Number of payroll employees in FTEs		6,765			6,821		6,907			6,930			6,715
Number of temporary employees in FTEs		1,686			1,649		1,610			1,329			959

ASML — Summary U.S. GAAP Consolidated Balance Sheets ¹


	Mar 30,		Jun 29,		Sep 28,		Dec 31,		Mar 29,
(in millions EUR)	2008		2008		2008		2008		2009


ASSETS
Cash and cash equivalents		1,397.1		1,360.9		1,313.0		1,109.2		1,151.0
Accounts receivable, net		741.3		516.7		536.1		463.3		291.6
Finance receivables, net		0.2		0.2		7.4		6.2		6.2
Current tax assets		—		—		—		87.6		—
Inventories, net		1,152.0		1,130.2		1,134.0		999.1		936.8
Deferred tax assets		71.1		69.8		82.8		71.8		74.9
Other assets		267.6		262.2		261.4		236.1		240.6

Total current assets		3,629.3		3,340.0		3,334.7		2,973.3		2,701.1

Finance receivables, net		—		—		30.7		31.0		29.2
Deferred tax assets		135.8		157.7		139.4		148.1		173.2
Other assets		85.7		39.3		50.6		88.2		89.5
Goodwill		119.7		119.8		129.2		131.5		139.7
Other intangible assets, net		32.5		30.1		28.8		26.7		25.6
Property, plant and equipment, net		401.4		458.1		503.1		540.6		586.6

Total non-current assets		775.1		805.0		881.8		966.1		1,043.8

Total assets		4,404.4		4,145.0		4,216.5		3,939.4		3,744.9

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities		1,562.3		1,247.3		1,273.0		1,008.3		1,017.5

Long-term debt		615.3		591.6		596.7		647.1		661.4
Deferred and other tax liabilities		261.5		227.0		215.2		209.7		204.9
Provisions		—		—		—		15.5		16.9
Accrued liabilities and other liabilities		7.1		18.5		8.8		70.0		48.2

Total non-current liabilities		883.9		837.1		820.7		942.3		931.4


Total liabilities		2,446.2		2,084.4		2,093.7		1,950.6		1,948.9

Shareholders’ equity		1,958.2		2,060.6		2,122.8		1,988.8		1,796.0

Total liabilities and shareholders’ equity		4,404.4		4,145.0		4,216.5		3,939.4		3,744.9

ASML — Summary U.S. GAAP Consolidated Statements of Cash Flows ¹


	Three months ended,
	Mar 30,			Jun 29,			Sep 28,			Dec 31,			Mar 29,
(in millions EUR)	2008			2008			2008			2008			2009


CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)		145.1			192.0			73.3			(88.0	)		(117.2	)

Depreciation and amortization		29.0			26.5			28.6			36.3			37.9
Impairment		1.5			0.1			0.6			20.5			2.6
Loss on disposals of property, plant and equipment		1.1			1.3			1.4			1.6			2.6
Share-based payments		3.6			3.1			3.7			3.2			3.5
Allowance for doubtful debts		0.5			(0.6	)		(0.2	)		0.2			—
Allowance for obsolete inventory		20.8			11.8			21.3			85.8			22.1
Deferred income taxes		20.6			(54.5	)		2.4			(2.7	)		(27.0	)
Change in assets and liabilities		45.1			(49.7	)		(110.2	)		(194.3	)		157.7

Net cash provided by (used in) operating activities		267.3			130.0			20.9			(137.4	)		82.2

CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment		(55.0	)		(65.5	)		(68.3	)		(71.1	)		(43.9	)
Proceeds from sale of property, plant and equipment		—			—			—			—			1.2

Net cash used in investing activities		(55.0	)		(65.5	)		(68.3	)		(71.1	)		(42.7	)

CASH FLOWS FROM FINANCING ACTIVITIES
Purchase of shares in conjunction with share-based payment plans		(87.6	)		—			—			—			—
Dividend paid		—			(107.4	)		(0.4	)		—			—
Net proceeds from issuance of shares and stock options		3.0			0.5			1.4			6.5			0.1
Excess tax benefits (deficiencies) from stock options		—			6.0			(1.9	)		(1.9	)		(0.2	)
Redemption and/or repayment of debt		—			—			(1.3	)		(1.1	)		—

Net cash provided by (used in) financing activities		(84.6	)		(100.9	)		(2.2	)		3.5			(0.1	)


Net cash flows		127.7			(36.4	)		(49.6	)		(205.0	)		39.4

Effect of changes in exchange rates on cash		(2.2	)		0.2			1.7			1.2			2.4

Net increase (decrease) in cash & cash equivalents		125.5			(36.2	)		(47.9	)		(203.8	)		41.8

ASML — Notes to the Summary U.S. GAAP Consolidated Financial Statements

Basis of Presentation

ASML follows accounting principles generally accepted in the United States of America (“U.S. GAAP”). Further disclosures, as required under U.S. GAAP in annual reports, are not included in the summary consolidated financial statements. Unless stated otherwise, the accompanying consolidated financial statements are stated in thousands of euros (‘EUR’).

Principles of consolidation

The consolidated financial statements include the accounts of ASML Holding N.V. and all of its majority-owned subsidiaries. Subsidiaries are all entities over which ASML has the power to govern the financial and operating policies generally accompanying a shareholding of more than one half of the voting rights. All intercompany profits, balances and transactions have been eliminated in the consolidation.

Use of estimates

The preparation of ASML’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities on the balance sheet dates and the reported amounts of revenue and expense during the reported periods. Actual results could differ from those estimates.

Recognition of revenues

ASML recognizes revenue when all four revenue recognition criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; seller’s price to the buyer is fixed or determinable; and collectibility is reasonably assured. At ASML, this policy generally results in revenue recognition from the sale of a system upon shipment. The revenue from the installation of a system is generally recognized upon completion of that installation at the customer site. Each system undergoes, prior to shipment, a “Factory Acceptance Test” in ASML’s clean room facilities, effectively replicating the operating conditions that will be present on the customer’s site, in order to verify whether the system will meet its standard specifications and any additional technical and performance criteria agreed with the customer. A system is shipped, and revenue recognized, only after all specifications are met and customer sign-off is received or waived. Although each system’s performance is re-tested upon installation at the customer’s site, ASML has never failed to successfully complete installation of a system at a customer’s premises.

For arrangements containing multiple elements, the revenue relating to the undelivered elements is deferred at estimated fair value until delivery of these elements. Revenue from installation services and service contracts provided to our customers is initially deferred and is recognized when the installation is completed and, in case of service contracts, over the life of those contracts. Revenue from extended and enhanced warranties is recognized in income on a straight-line basis over the contract period. The costs of providing services under extended and enhanced warranties are recognized when they occur.

ASML — Reconciliation U.S. GAAP — IFRS ¹

Net income


	Three months ended,
(in thousands EUR)	Mar 30, 2008			Mar 29, 2009

Net income under U.S. GAAP		145,123			(117,191	)
Share-based payments (see Note 1)		(762	)		(499	)
Capitalization of development costs (see Note 2)		21,681			11,515
Income taxes (see Note 3)		418			(1,600	)

Net income under IFRS		166,460			(107,775	)

Shareholders’ equity


	Mar 30,			Jun 29,			Sep 28,			Dec 31,			Mar 29,
(in thousands EUR)	2008			2008			2008			2008			2009

Shareholders’ equity under U.S. GAAP		1,958,159			2,060,575			2,122,848			1,988,769			1,795,951
Share-based payments (see Note 1)		(3,420	)		(3,266	)		(7,904	)		(6,537	)		(7,088	)
Capitalization of development costs (see Note 2)		157,900			176,818			193,780			201,717			215,452
Income taxes (see Note 3)		9,186			8,478			5,969			4,794			3,361

Shareholders’ equity under IFRS		2,121,825			2,242,605			2,314,693			2,188,743			2,007,676

Notes to the reconciliation from U.S. GAAP to IFRS

Note 1 Share-based Payments

Under IFRS, ASML applies IFRS 2, “Share-based Payments” beginning from January 1, 2004. In accordance with IFRS 2, ASML records as an expense the fair value of its share-based payments with respect to stock options and stock granted to its employees after November 7, 2002. Under IFRSs, a deferred tax asset is computed on the basis of the tax deduction for the share-based payments every period under the applicable tax law and is recognized to the extent it is probable that future taxable profit will be available against which these deductible temporary differences will be utilized. Therefore, changes in the Company’s share price do affect the deferred tax asset at period-end and result in adjustments to the deferred tax asset.

As of January 1, 2006, ASML applies SFAS No. 123(R) “Share-Based Payment” which is a revision of SFAS No.123. SFAS 123(R) requires companies to recognize the cost of employee services received in exchange for awards of equity instruments based upon the grant-date fair value of those instruments. FAS 123(R)’s general principle is that a deferred tax asset is established as the Company recognizes compensation costs for commercial purposes for awards that are expected to result in a tax deduction under existing tax law. Under U.S. GAAP, the deferred tax recorded on share-based compensation is computed on the basis of the expense recognized in the financial statements. Therefore, changes in the Company’s share price do not affect the deferred tax asset recorded in the Company’s financial statements.

Note 2 Capitalization of development costs

Under IFRS, ASML applies IAS 38, “Intangible Assets”. In accordance with IAS 38, capitalized development expenditures are amortized over the expected useful life of the related product generally ranging between one and three years. Amortization starts when the developed product is ready for volume production. In 2008, we recognized an impairment charge for an amount of EUR 18.3 million.

Under U.S. GAAP, ASML applies SFAS No. 2, “Accounting for Research and Development Costs”. In accordance with SFAS No. 2, ASML charges costs relating to research and development to operating expense as incurred.

Note 3 Income taxes

Under IFRS, ASML applies IAS 12, “Income Taxes” beginning from January 1, 2005. In accordance with IAS 12 unrealized net income resulting from intercompany transactions that are eliminated from the carrying amount of assets on consolidation, give rise to a temporary difference for which deferred taxes must be recognized on consolidation. The deferred taxes are calculated based on the tax rate applicable in the purchaser’s tax jurisdiction.

Under U.S. GAAP, the elimination of unrealized net income from intercompany transactions that are eliminated from the carrying amount of assets on consolidation, give rise to a temporary difference for which prepaid taxes must be recognized on consolidation. Contrary to IFRS, the prepaid taxes under U.S. GAAP are calculated based on the tax rate applicable in the seller’s tax jurisdiction.

“Safe Harbor” Statement under the US Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements, including statements made about our outlook, realization of backlog, IC unit demand, financial results, average sales price, gross margin and expenses. These forward looking statements are subject to risks and uncertainties including, but not limited to: economic conditions, credit market deterioration on consumer confidence which could affect our customers, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors (the principal product of our customer base), competitive products and pricing, manufacturing efficiencies, new product development and customer acceptance of new products, ability to enforce patents and protect intellectual property rights, the outcome of intellectual property litigation, availability of raw materials and critical manufacturing equipment, trade environment, changes in exchange rates and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission.


¹		All quarterly information in this press release is unaudited.

²		The calculation of diluted net income per ordinary share assumes the exercise of options issued under ASML stock option plans as such exercises would have a dilutive effect.

Exhibit 99.4

ASML — Summary IFRS Consolidated Income Statements ¹


	Three months ended,
(in thousands EUR)	Mar 30, 2008			Mar 29, 2009


Net system sales		819,986			101,100
Net service and field option sales		99,222			82,525

Total net sales		919,208			183,625

Cost of sales		561,687			196,360

Gross profit (loss) on sales		357,521			(12,735	)

Research and development costs, net of credits		82,723			78,025
Selling, general and administrative costs		57,696			41,968

Operating income (loss)		217,102			(132,728	)

Interest income		3,575			3,261

Income (loss) before income taxes		220,677			(129,467	)

(Provision for) benefit from income taxes		(54,217	)		21,692

Net income (loss)		166,460			(107,775	)

ASML — Summary IFRS Consolidated Balance Sheets ¹


(in thousands EUR)	Dec 31, 2008		Mar 29, 2009


ASSETS

Property, plant and equipment		550,921		596,069
Goodwill		139,626		148,415
Other intangible assets		289,530		306,082
Deferred tax assets		225,544		244,609
Finance receivables		31,030		29,250
Derivative financial instruments		53,206		69,986
Other assets		29,449		14,177

Total non-current assets		1,319,306		1,408,588

Inventories		999,150		936,770
Current tax assets		87,560		—
Derivative financial instruments		39,240		33,580
Finance receivables		6,225		6,193
Accounts receivable		463,273		291,644
Other assets		170,680		186,004
Cash and cash equivalents		1,109,184		1,151,010

Total current assets		2,875,312		2,605,201

Total assets		4,194,618		4,013,789

EQUITY AND LIABILITIES

Equity		2,188,743		2,007,676

Long-term debt		661,483		671,492
Derivative financial instruments		19,743		1,566
Deferred and other tax liabilities		260,360		258,081
Provisions		15,495		16,955
Accrued liabilities and other liabilities		50,293		46,678

Total non-current liabilities		1,007,374		994,772

Accounts payable		193,690		165,252
Accrued liabilities and other liabilities		732,043		789,796
Current tax liabilities		20,039		11,161
Derivative financial instruments		48,051		40,650
Provisions		4,678		4,482

Total current liabilities		998,501		1,011,341

Total equity and liabilities		4,194,618		4,013,789

ASML — Summary IFRS Consolidated Statements of Cash Flows ¹


	Three months ended,
(in thousands EUR)	Mar 30, 2008			Mar 29, 2009


CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)		166,460			(107,775	)

Depreciation and amortization		45,218			63,644
Loss on disposals of property, plant and equipment		1,103			2,639
Impairment charges		1,551			2,592
Share-based payments		3,404			3,512
Allowance for doubtful debts		540			(13	)
Allowance for obsolete inventory		20,766			22,135
Change in assets and liabilities		73,840			137,312

Net cash provided by operating activities		312,882			124,046

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment		(55,032	)		(43,903	)
Proceeds from sale of property, plant and equipment		—			1,200
Purchases of intangible assets		(45,526	)		(40,291	)

Net cash used in investing activities		(100,558	)		(82,994	)

CASH FLOWS FROM FINANCING ACTIVITIES

Purchase of shares in conjunction with share-based payment plans		(87,605	)		—
Net proceeds from issuance of shares and stock options		2,975			102
Redemption and / or repayment of debt		—			(1,735	)

Net cash provided by (used in) financing activities		(84,630	)		(1,633	)


Net cash flows		127,694			39,419

Effect of changes in exchange rates on cash		(2,186	)		2,407

Net increase in cash & cash equivalents		125,508			41,826
					—

ASML — Quarterly Summary IFRS Consolidated Income Statements ¹


	Three months ended,
	Mar 30,			Jun 29,		Sep 28,			Dec 31,			Mar 29,
(in millions EUR)	2008			2008		2008			2008			2009


Net system sales		820.0			725.6		590.7			380.5			101.1
Net service and field option sales		99.2			118.6		105.8			113.3			82.5

Total net sales		919.2			844.2		696.5			493.8			183.6

Cost of sales		561.7			525.3		452.7			476.5			196.3

Gross profit (loss) on sales		357.5			318.9		243.8			17.3			(12.7	)

Research and development costs, net of credits		82.7			87.1		88.6			95.8			78.0
Selling, general and administrative costs		57.7			55.3		52.2			47.7			42.0

Operating income (loss)		217.1			176.5		103.0			(126.2	)		(132.7	)

Interest income		3.6			5.0		6.6			2.8			3.2

Income (loss) before income taxes		220.7			181.5		109.6			(123.4	)		(129.5	)

(Provision for) benefit from income taxes		(54.2	)		29.0		(27.0	)		40.8			21.7

Net income (loss)		166.5			210.5		82.6			(82.6	)		(107.8	)

ASML — Quarterly Summary IFRS Consolidated Balance Sheets ¹


	Mar 30,		Jun 29,		Sep 28,		Dec 31,		Mar 29,
(in millions EUR)	2008		2008		2008		2008		2009


ASSETS

Property, plant and equipment		401.4		458.1		503.1		550.9		596.1
Goodwill		127.2		127.3		137.3		139.6		148.4
Other intangible assets		238.0		260.5		281.3		289.5		306.1
Deferred tax assets		213.3		238.4		228.6		225.6		244.6
Finance receivables		—		—		30.7		31.0		29.2
Derivative financial instruments		47.7		1.4		12.3		53.2		70.0
Other assets		31.8		32.0		32.6		29.5		14.2

Total non-current assets		1,059.4		1,117.7		1,225.9		1,319.3		1,408.6

Inventories		1,152.0		1,130.2		1,134.0		999.1		936.8
Current tax assets		—		—		—		87.6		—
Derivative financial instruments		36.5		46.6		21.0		39.2		33.6
Finance receivables		0.2		0.2		7.4		6.2		6.2
Accounts receivable		741.3		516.7		536.1		463.3		291.6
Other assets		202.4		185.9		210.6		170.7		186.0
Cash and cash equivalents		1,397.1		1,360.9		1,313.0		1,109.2		1,151.0

Total current assets		3,529.5		3,240.5		3,222.1		2,875.3		2,605.2

Total assets		4,588.9		4,358.2		4,448.0		4,194.6		4,013.8

EQUITY AND LIABILITIES

Equity		2,121.8		2,242.6		2,314.7		2,188.7		2,007.7

Long-term debt		609.1		585.6		591.0		661.5		671.5
Derivative financial instruments		—		11.2		0.9		19.7		1.6
Deferred and other tax liabilities		282.9		260.2		256.9		260.4		258.1
Provisions		—		—		—		15.5		16.9
Accrued liabilities and other liabilities		7.2		7.4		7.8		50.3		46.7

Total non-current liabilities		899.2		864.4		856.6		1,007.4		994.8

Accounts payable		479.6		267.2		271.0		193.7		165.2
Accrued liabilities and other liabilities		957.7		910.8		948.1		732.0		789.8
Current tax liabilities		111.5		50.8		42.4		20.0		11.2
Derivative financial instruments		19.1		22.4		15.2		48.1		40.6
Provisions		—		—		—		4.7		4.5

Total current liabilities		1,567.9		1,251.2		1,276.7		998.5		1,011.3

Total equity and liabilities		4,588.9		4,358.2		4,448.0		4,194.6		4,013.8

ASML — Quarterly Summary IFRS Consolidated Statements of Cash Flows ¹


	Three months ended,
	Mar 30,			Jun 29,			Sep 28,			Dec 31,			Mar 29,
(in millions EUR)	2008			2008			2008			2008			2009


CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)		166.5			210.5			82.6			(82.6	)		(107.8	)

Depreciation and amortization		45.2			44.7			50.1			57.2			63.6
Loss on disposals of property, plant and equipment		1.1			1.3			1.4			0.4			2.7
Impairment charges		1.6			—			0.6			41.2			2.6
Share-based payments		3.4			2.9			3.6			3.0			3.5
Allowance for doubtful debts		0.5			(0.6	)		(0.2	)		0.5			—
Allowance for obsolete inventory		20.8			11.8			21.3			85.8			22.1
Change in assets and liabilities		73.8			(91.6	)		(99.0	)		(215.3	)		137.3

Net cash provided by (used in) operating activities		312.9			179.0			60.4			(109.8	)		124.0

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment		(55.0	)		(65.5	)		(68.3	)		(71.1	)		(43.9	)
Proceeds from sale of property, plant and equipment		—			—			—			—			1.2
Purchases of intangible assets		(45.6	)		(43.0	)		(41.4	)		(49.4	)		(40.3	)

Net cash used in investing activities		(100.6	)		(108.5	)		(109.7	)		(120.5	)		(83.0	)

CASH FLOWS FROM FINANCING ACTIVITIES

Purchase of shares in conjunction with share-based payment plans		(87.6	)		—			—			—			—
Dividend paid		—			(107.4	)		(0.4	)		—			—
Net proceeds from issuance of shares and stock options		3.0			0.5			1.4			6.5			0.1
Net proceeds from other long-term debt		—			—			—			19.9			—
Redemption and/or repayment of debt		—			—			(1.3	)		(1.1	)		(1.7	)

Net cash provided by (used in) financing activities		(84.6	)		(106.9	)		(0.3	)		25.3			(1.6	)


Net cash flows		127.7			(36.4	)		(49.6	)		(205.0	)		39.4

Effect of changes in exchange rates on cash		(2.2	)		0.2			1.7			1.2			2.4

Net increase (decrease) in cash & cash equivalents		125.5			(36.2	)		(47.9	)		(203.8	)		41.8

ASML — Notes to the Summary IFRS Consolidated Financial Statements

Basis of Presentation

ASML has prepared the accompanying summary consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the EU – accounting principles generally accepted in the Netherlands for companies quoted on Euronext Amsterdam. Further disclosures, as required under IFRS in annual reports and interim reporting (IAS 34), are not included. The accompanying consolidated financial statements are stated in thousands of euros (‘EUR’), except otherwise indicated.

For internal and external reporting purposes, ASML follows accounting principles generally accepted in the United States of America (“U.S. GAAP”). U.S. GAAP is ASML’s primary accounting standard for the Company’s setting of financial and operational performance targets.

Principles of consolidation

Use of estimates

The preparation of ASML’s consolidated financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities on the balance sheet dates and the reported amounts of revenue and expense during the reported periods. Actual results could differ from those estimates.

Recognition of revenues

In general, ASML recognizes the revenue from the sale of a system upon shipment and the revenue from the installation of a system upon completion of that installation at the customer site. Each system undergoes, prior to shipment, a “Factory Acceptance Test” in our clean room facilities, effectively replicating the operating conditions that will be present on the customer’s site, in order to verify whether the system will meet its standard specifications and any additional technical and performance criteria agreed with the customer. A system is shipped, and revenue is recognized, only after all specifications are met and customer sign-off is received or waived. Although each system’s performance is re-tested upon installation at the customer’s site, we have never failed to successfully complete installation of a system at a customer’s premises.

A portion of our revenue is derived from contractual arrangements with our customers that have multiple deliverables, such as installation and training services, prepaid service contracts and prepaid extended optic warranty contracts. The revenue relating to the undelivered elements of the arrangements is deferred until delivery of these elements. Revenue from installation and training services is recognized when the services are completed. Revenue from prepaid service contracts and prepaid extended optic warranty contracts is recognized over the term of the contract.

ASML – Reconciliation U.S. GAAP – IFRS¹

Net income


	Three months ended,
(in thousands EUR)	Mar 30, 2008			Mar 29, 2009

Net income under U.S. GAAP		145,123			(117,191	)
Share-based payments (see Note 1)		(762	)		(499	)
Capitalization of development costs (see Note 2)		21,681			11,515
Income taxes (see Note 3)		418			(1,600	)

Net income under IFRS		166,460			(107,775	)

Shareholders’ equity


	Mar 30,			Jun 29,			Sep 28,			Dec 31,			Mar 29,
(in thousands EUR)	2008			2008			2008			2008			2009

Shareholders’ equity under U.S. GAAP		1,958,159			2,060,575			2,122,848			1,988,769			1,795,951
Share-based payments (see Note 1)		(3,420	)		(3,266	)		(7,904	)		(6,537	)		(7,088	)
Capitalization of development costs (see Note 2)		157,900			176,818			193,780			201,717			215,452
Income taxes (see Note 3)		9,186			8,478			5,969			4,794			3,361

Shareholders’ equity under IFRS		2,121,825			2,242,605			2,314,693			2,188,743			2,007,676

Notes to the reconciliation from U.S. GAAP to IFRS

Note 1 Share-based Payments

Note 2 Capitalization of development costs

Note 3 Income taxes

“Safe Harbor” Statement under the US Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements, including statements made about our outlook, realization of backlog, IC unit demand, financial results, average sales price, gross margin and expenses. These forward looking statements are subject to risks and uncertainties including, but not limited to: economic conditions, credit market deterioration on consumer confidence which could affect our customers, product demand and semiconductor equipment industry capacity, worldwide demand and manufacturing capacity utilization for semiconductors (the principal product of our customer base), competitive products and pricing, manufacturing efficiencies, new product development and customer acceptance of new products, ability to enforce patents and protect intellectual property rights, the outcome of intellectual property litigation, availability of raw materials and critical manufacturing equipment, trade environment, changes in exchange rates and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission.


¹		All quarterly information in this press release is unaudited.

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