Amsterdam - Dutch technology firm ASML said it suffered a 117-million-euro (155.32-million-dollar) loss in the first quarter of 2009. Releasing its first quarter results on Wednesday, ASML, which makes lithography systems for the semiconductor industry, said net sales in the first quarter of the year amounted to 184 million euros - compared with 919 million euros in the same period in 2008.

"Semiconductor equipment demand collapsed in the first quarter of 2009," ASML CEO Eric Meurice said in a statement.

However, he added a drastic cost-saving program had freed up more than 300 million euros in working capital, ensuring the company could maintain all its "strategic investments".

Meurice said that while the global economic recession would continue to affect ASML, the company has good expectations for the second quarter of 2009, with estimated net sales of between 210 to 230 million euros.

Headquartered in Veldhoven in the southern Netherlands, ASML has more than 6,700 employees, serving chip manufacturers in more than 60 locations in 15 countries.(dpa)