June 19, 2002–San Jose, CA–North American-based manufacturers of semiconductor equipment posted a book-to-bill ratio of 1.26 for the month of May, according to Semiconductor Equipment and Materials International (SEMI). A book-to-bill of 1.26 means that $126 worth of new orders was received for every $100 of product billed for the month.

In its morning forecast, analysts from SG Cowen said, " [We] believe orders will continue to grow sequentially in June." The firm also said orders for front-end (FE) equipment increase seven percent over April, while back-end (BE) equipment orders were up 17 percent. " Despite recent growth, FE and BE orders till ?65% and ?71%, respectively, from 2000 peaks," analysts added.

Bookings for the month were 1.08 billion, a 50 percent increase over the same period a year ago and a nine percent above the revised April 2002 figure of $996 million.

"For the second month in a row, bookings have shown positive year-over-year growth and, for the first time since March 2001, average bookings have reached above the billion-dollar mark," says Stanley Myers, president and CEO of SEMI. "Recent forecasts showing expectations of low, single-digit growth for the chip market in 2002, suggest we will see continued sequential improvement in semiconductor capital spending with a more robust market anticipated in late 2002 or early 2003."

Billings for the month topped out at 862 million, a six percent increase over April, but 41 percent May 2001 billings level of $1.46 billion. All figures are three-month moving averages.