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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950172-03-001235.txt : 20030416
<SEC-HEADER>0000950172-03-001235.hdr.sgml : 20030416
<ACCEPTANCE-DATETIME>20030416113821
ACCESSION NUMBER:		0000950172-03-001235
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030416

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASML HOLDING NV
		CENTRAL INDEX KEY:			0000937966
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25566
		FILM NUMBER:		03651911

	BUSINESS ADDRESS:	
		STREET 1:		DE RUN 1110
		CITY:			LA VELDHOVEN NE
		STATE:			P7
		ZIP:			5503
		BUSINESS PHONE:		3140580800

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASM LITHOGRAPHY HOLDING NV
		DATE OF NAME CHANGE:	19950215
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>lon258468.txt
<DESCRIPTION>6-K
<TEXT>


                      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 the quarterly period ended March 31, 2003

                            ______________________

                               ASML Holding N.V.

                                  De Run 1110
                               5503 LA 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 /X/             Form 40-F /_/

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 /_/              No /X/

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

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE
PROSPECTUS INCLUDED IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO.
333-83266) OF ASML HOLDING N.V.


Exhibit

99.1     "ASML Announces 2003 First Quarter Results," dated April 16, 2003.

99.2     Summary Consolidated Statements of Operations for the First Quarter
         of 2003.

         "Safe Harbor" Statement under the U.S. Private Securities Litigation
Reform Act of 1995: the matters discussed in this document include
forward-looking statements that are subject to risks and uncertainties
including, but not limited to, economic conditions, product demand and
industry capacity, competitive products and pricing, manufacturing
efficiencies, new product development, ability to enforce patents,
availability of raw materials and critical manufacturing equipment, trade
environment, and other risks indicated in filings with the U.S. 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 16, 2003                      By: /s/ Peter T.F.M. Wennink
                                              -------------------------------
                                               Peter T.F.M. Wennink
                                               Executive Vice President
                                               and Chief Financial Officer




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>lon258707.txt
<DESCRIPTION>EXH. 99.1
<TEXT>

                                                               Exhibit 99.1


ASML ANNOUNCES 2003 FIRST QUARTER RESULTS


VELDHOVEN, the Netherlands, April 16, 2003 - ASML Holding NV (ASML) today
announced its first quarter 2003 results as follows:

    o    Sales of 33 lithography systems - 27 new and 6 refurbished systems -
         up from Q1 02 sales of 13 lithography systems, including 1
         refurbished system;
    o    Increase in average selling price to EUR 9.2 million, up 10 percent
         from a Q1 02 average selling price of EUR 8.4 million;
    o    Net loss of EUR 82 million or EUR .17 per ordinary share, compared
         with a Q1 02 net loss of EUR 108 million or EUR .23 per ordinary
         share;
    o    Cash generation of EUR 40 million in Lithography, up from Q1 02 cash
         usage in Lithography of EUR 194 million;
    o    Continued improvements in working capital of EUR 92 million;
    o    Pre-tax loss from Discontinued Operations narrowed to EUR 22 million,
         including one-time charges of EUR 11 million in Q1 03, from EUR 33
         million in Q1 02.


Commenting on Q1 03 results, Doug Dunn, president and CEO, ASML said:

"Historically, the first quarter is a weak quarter. Our results reflect that
trend as well as a poor global economy, generally, and a continued depressed
market in the semiconductor industry, specifically. The same factors that
affect consumer confidence resonate throughout the semiconductor supply chain
also affecting equipment manufacturers.

"However, within this tough environment, we continued to generate cash,
increased worldwide market share according to industry analysts and
implemented actions to lower our breakeven level. Despite difficult business
conditions, ASML continued to outpace the competition and maintain its
commitment to leadership."


Lithography - Continuing Operations

Total net sales in the first three months of 2003 were EUR 318 million as
compared with total net sales of EUR 179 million for the first three months of
2002. This reflects a net increase of EUR 139 million or a 78 percent increase
year-on-year from the same quarter last year.

As of March 31, 2003, the order backlog for lithography systems was 87 units
with a total value of EUR 870 million. This compares with an order backlog for
lithography systems of 103 units with a value of EUR 1,077 million as of
December 31, 2002. The order backlog reflects the number of systems ordered to
date by customers for shipment over the following 12-month period. ASML
continues not to issue guidance or forecasts due to uncertain market
conditions.

The total gross margin for lithography operations in the first quarter 2003
was 16.6 percent, compared to a gross margin of 9.6 percent in the first
quarter 2002. The gross margin was depressed due to continued price pressure
and the relatively low number of product shipments causing under-utilization
of manufacturing capacity and facilities. Due to better fixed-cost coverage,
gross margin improves during financial quarters if shipments are higher.

Track and Thermal - Discontinued Operations

As previously announced, ASML decided to terminate its Track equipment
activities in 2002 and sell its Thermal operations in 2003. The decision
resulted in a first quarter 2003 net loss from Discontinued Operations of EUR
13 million, compared with a first quarter 2002 net loss of EUR 22 million.
This decrease was due to lower operating losses resulting from the termination
of Track activities but was offset by valuation allowances for buildings and
the results of previously announced cost cutting measures in the Thermal
business, which ASML still intends to sell during 2003.

Please note: Results for 2002 have been restated to reclassify Track and
Thermal activities as Discontinued Operations.

Financial Position

In the first quarter 2003, the Lithography operation generated EUR 40 million
in cash from operating, investing and financing activities while the Track and
Thermal business used EUR 12 million. In addition, there was the negative
impact on cash of EUR 8 million due to foreign exchange rate fluctuations.
This compares with 2002 first quarter totals of EUR 194 million in cash used
by the Lithography operation and EUR 7 million used by the Track and Thermal
business.

In the second half 2002, ASML implemented measures focused on improving its
working capital management and reducing headcount. These measures contributed
to the company ending the first quarter with a cash balance of EUR 688
million, up from EUR 669 million as of December 31, 2002. The company is still
on target to reach the intended size of its lithography operation, 5,200
employees, by July 2003. ASML will continue its increased efforts to improve
the collection of accounts receivable and current tax assets, reduce inventory
and manage accounts payable, among other measures.


ASML also remains focused on its target of achieving a balance of cash and
cash equivalents in excess of EUR 1 billion by year-end 2003.

Additional Financial Information

Selling, general and administrative (SG&A) costs were EUR 61 million in the
first quarter 2003, compared with first quarter 2002 SG&A costs of EUR 61
million. Restructuring expenses relating to the cost cutting measures
announced on December 18, 2002, still estimated at less than EUR 10 million in
costs for this year, amounted to EUR 6 million for this quarter.

Net research and development costs for Lithography for the first quarter 2003
was EUR 76 million, an increase of EUR 7 million compared with the first
quarter of 2002. The rise is due to the timing of research and development
costs for leading-edge products, particularly 93-nanometer technology.

"Safe Harbor"

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform
Act of 1995: the matters discussed in this document include forward-looking
statements that are subject to risks and uncertainties including -- but not
limited to -- economic conditions, product demand and semiconductor industry
capacity, competitive products and pricing, manufacturing efficiencies, new
product development, ability to enforce patents, availability of raw materials
and critical manufacturing equipment, trade environment and other risks
indicated in filings with the U.S. Securities and Exchange Commission.

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.

Conference Call Today

A conference call hosted by CEO Doug Dunn and CFO Peter Wennink to discuss the
Q1 03 results of ASML will commence today, April 16, 2003, at 17.30 Central
European Time / 11.30 Eastern US Time. The call in information follows:

    Dial-in number NL    +31 45 631 6910
    Dial-in number UK    +44 208 400 6310
    Dial-in number US    +1 416 640 1907

The conference call will be available for replay until April 23, 2003 by
dialing +1 303 590 3060, with the replay code of 245409#.


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 - US Institutional Investor Relations - +1.480.383.4006 - Tempe,
Arizona, USA
Craig DeYoung - Investor Relations +31.40.268.3938 - Veldhoven, the Netherlands



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>lon258772.txt
<DESCRIPTION>EXH. 99.2
<TEXT>
<TABLE>
<CAPTION>
                                                                                            Exhibit 99.2

Summary Consolidated Statements of Operations(2)

For the three months ended                                                       March 31,         March 30,
                                                                                      2002              2003
(Amounts in thousands except per share data)                                           EUR               EUR
- -----------------------------------------------------------------------------------------------------------------------
                                                  Net sales                        178,729           318,042
                                              Cost of sales                        161,493           265,169
- -----------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>               <C>
                                      Gross profit on sales                         17,236            52,873

                             Research and development costs                         73,940            80,345
                           Research and development credits                         (4,643)           (4,480)
               Selling, general and administrative expenses                         61,203            61,063
                                     Restructuring expenses                              0             6,443
- -----------------------------------------------------------------------------------------------------------------------
                                             Total expenses                        130,500           143,371

         Operating income (loss) from continuing operations                       (113,264)          (90,498)

                                      Interest expense, net                        (12,315)           (7,034)
- -----------------------------------------------------------------------------------------------------------------------
        Loss from continuing operations before income taxes                       (125,579)          (97,532)
Provision for income taxes on income from continuing operations                     39,683            28,843
- -----------------------------------------------------------------------------------------------------------------------
                        Net loss from continuing operations                        (85,896)          (68,689)

        Loss from discontinued operations before income tax                        (32,509)          (21,836)(3)
      Provision for income taxes on discontinued operations                         10,826             8,625
- -----------------------------------------------------------------------------------------------------------------------
                      Net loss from discontinued operations                        (21,683)          (13,211)

                                                   Net loss                       (107,579)          (81,900)

                         Basic net loss per ordinary share:                          (0.23)            (0.17)
                       Diluted net loss per ordinary share:                          (0.23)            (0.17)

Number of ordinary shares used in computing per share amounts (in thousands):
                                                     Basic                         467,575           482,182
                                                    Diluted                        467,575           482,182


Ratios and Other Data
For the three months ended                                                       March 31,         March 30,
                                                                                      2002              2003
- -----------------------------------------------------------------------------------------------------------------------

Gross profit on sales of continuing operations as a % of net sales                       9.6              16.6
Operating income from continuing operations as a % of net sales                        (63.4)            (28.5)
  Net income from continuing operations as a % of net sales                            (48.1)            (21.6)
               Shareholders' equity as a % of total assets(1)                           39.8              38.0
                                   Sales of systems (units)                             13                33
               Number of employees in continuing operations                          5,916             5,762
             Number of employees in discontinued operations                            936               499
                                  Number of employees total                          6,852             6,261
</TABLE>


(1)  2002 is shareholders' equity as per December 31, 2002
(2)  prior period financial statements were restated to reflect the impact of
     discontinued operations
(3)  Includes operating loss of EUR 11 million for Thermal and restructuring
     and one time charges of EUR 11 million for Track and Thermal
<PAGE>

<TABLE>
<CAPTION>

Summary Consolidated Balance Sheets(2)

                                                                                   Dec 31,         March 30,
                                                                                      2002              2003
(Amounts in thousands)                                                                 EUR               EUR
- -----------------------------------------------------------------------------------------------------------------------
<S>                                   <C>                                            <C>             <C>
  ASSETS
                                  Cash and cash equivalents                        668,760           688,297
                                   Accounts receivable, net                        556,664           434,898
                                           Inventories, net                        730,025           778,547
                                          Current tax asset                        178,706           178,706
                                       Other current assets                        175,095           175,190
- -----------------------------------------------------------------------------------------------------------------------
                                       Total current assets                      2,309,250         2,255,638

                                         Deferred tax asset                        314,795           343,975
                                               Other assets                         61,757            60,316
                                       Assets held for sale                        106,094            93,057
                                          Intangible assets                         14,069            13,510
                              Property, plant and equipment                        495,723           475,531
- -----------------------------------------------------------------------------------------------------------------------
                                               Total assets                      3,301,688         3,242,027
  LIABILITIES AND SHAREHOLDERS' EQUITY
                                        Current liabilities                        686,683           749,409
                                  Liabilities held for sale                         66,091            54,296
                             Convertible subordinated bonds                      1,064,040         1,038,476
                    Long term debt and deferred liabilities                        169,358           166,832
                                       Shareholders' equity                      1,315,516         1,233,014
- -----------------------------------------------------------------------------------------------------------------------
                 Total liabilities and Shareholders' equity                      3,301,688         3,242,027


<PAGE>



Summary Consolidated Statements of Cash Flows(2)

For the three months ended                                                       March 31,         March 30,
                                                                                      2002              2003
(Amounts in thousands)                                                                 EUR               EUR
- -----------------------------------------------------------------------------------------------------------------------

  CASH FLOWS FROM OPERATING ACTIVITIES:
                        Net loss from continuing operations                        (85,896)          (68,689)
                              Depreciation and amortization                         40,671            35,283
                           Change in assets and liabilities                       (131,008)           92,244
- -----------------------------------------------------------------------------------------------------------------------
       Net cash provided by (used in) operating activities
                                 from continuing operations                       (176,233)           58,838
  CASH FLOWS FROM INVESTING ACTIVITIES:
                                       Capital expenditures                        (31,603)          (25,428)
                                 Other investing activities                          9,162             6,560
- -----------------------------------------------------------------------------------------------------------------------
       Net cash used in investing activities from
         continuing operations                                                     (22,441)          (18,868)
  CASH FLOWS FROM FINANCING ACTIVITIES:
                       Redemption and/or repayment of loans                         (1,283)             (384)
                               Proceeds from share issuance                          5,922                 0
- -----------------------------------------------------------------------------------------------------------------------
       Net cash provided by (used in) financing activities
                                from continuing operations                           4,639              (384)
- -----------------------------------------------------------------------------------------------------------------------
                   Net cash flow from continuing operations                       (194,034)           39,586

                Effect of changes in exchange rates on cash                          2,527            (8,081)
              Net cash flow used in discontinued operations                         (7,189)          (11,968)
- -----------------------------------------------------------------------------------------------------------------------
       Net increase (decrease) in cash and cash equivalents                       (198,697)           19,537

</TABLE>







All figures are based on US GAAP.



<PAGE>



Notes to the 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. The accompanying Consolidated Financial Statements are stated in
thousands of euros (`EUR').

Discontinued operations
On December 18, 2002, ASML adopted a plan to discontinue its Track operations
and dispose of its Thermal division, as of December 31, 2002. The total
related net loss from discontinued operations (net of tax) of these components
for the first quarter of 2003 amount to EUR 13.2 million. Assets and
liabilities of discontinued operations were segregated in the accompanying
consolidated balance sheets and consisted primarily of accounts receivable,
inventories and fixed assets, offset by accounts payable and accrued
liabilities. Prior period financial statements have been restated to reflect
the impact of discontinued operations.

Principles of consolidation
The Consolidated Financial Statements include the accounts of ASML Holding
N.V. and all of its majority-owned subsidiaries. All significant intercompany
profit, transactions and balances have been eliminated in consolidation.

Recognition of revenues, income and expenses
Under the guidance set forth in SAB 101, ASML's practice is to recognize
revenues based upon shipment. This guidance also resulted in ASML deferring
the fair value of the installation service yet to be performed on delivered
equipment. Furthermore, revenues on initial shipments of new technology
systems are deferred until acceptance by the customer.

Revenues from services are recognized when performed. Revenues from prepaid
service contracts are recognized over the life of the contract. Advance
payments received from customers are deferred and recognized when the products
have been shipped. Operating expenses and other income and expense items are
recognized in the income statement as earned or incurred.

Use of estimates
The preparation of ASML's Consolidated Financial Statements in conformity with
U.S.GAAP necessarily requires Management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the balance sheet dates and the reported
amounts of revenue and expense during the reported periods. Actual results
could differ from those estimates.







`Safe Harbor' Statement under the U.S. Private Securities Litigation Reform
Act of 1995: the matters discussed in this document include forward-looking
statements that are subject to risks and uncertainties including, but not
limited to, economic conditions, product demand and industry capacity,
competitive products and pricing, manufacturing efficiencies, new product
development, ability to enforce patents, availability of raw materials and
critical manufacturing equipment, trade environment, and other risks indicated
in filings with the U.S. Securities and Exchange Commission.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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