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ASM Lithography sets 3-for-1 split

ASM Lithography announced a 3-for-1 stock split after the bell Monday.

Ahead of the announcement, ASM (Nasdaq: ASML) shares closed off 9 13/16 to 120 11/16.

Company officials said the split will take effect on April 17.

ASM said 1999 pretax profits rose 24 percent to $119.4 million (118.3 million euros), against $90.8 million (89.9 million euros) in 1998. Net income rose 23 percent to $81.8 million from $62.6 million a year ago. Sales in the period totaled 1.2 million euros against 779 million euros in 1998.

Its shares moved up to a 52-week high of 150 3/4 in March after falling to a low of 36 3/8 in May.

Ten of the 11 analysts following the stock maintain either a "buy" or "strong buy" recommendation.

First Call consensus expects it to earn $2.43 a share in the fiscal year.