Bookings for North American semiconductor equipment makers rose 14% worldwide in March, reflecting continued recovery in the chip market, according to trade association Semiconducter Equipment and Materials International. Bookings of $1.15bn were recorded during the month, said SEMI. The book-to-bill ratio was 1.30, meaning that $130 in orders were received for each $100 worth of products shipped. In February, the ratio was 1.21, and in January it was 1.12.
SEMI president Stanley Myers said the news was encouraging. First quarter orders have been stronger than expected and the bookings for March are up 139% from the bottom of the cycle in September 1998. Reports coming out of Asia suggest that the economies there are recovering faster than expected, and IC manufacturers, especially in Korea and Taiwan, are starting to order, he said. Three month average shipments in 1999 were $887m, 6% above the February 1999 figure, but still 35% below the March 1998 figure of $1.4bn. The three month average bookings figure, also $1.15bn, is 2% up on March 1998’s $1.1bn.
Securities firm Donaldson Lufkin & Jenrette upgraded semiconductor testing equipment makers Credence Systems Corp and Teradyne Inc on the news. The firm said it was expecting to sell a fall recovery for the industry.
