SAN JOSE -- It's gone from very bad to much, much worse for semiconductor equipment makers.
In what is arguably the worst semiconductor downturn ever, North American-based suppliers of chip production systems posted a record low book-to-bill of 0.42 in April, said the Semiconductor Equipment and Materials International (SEMI) trade group here today.
Prior to today's SEMI Express Report, the worst book-to-bill reading was 0.57 in September 1998, which was at the tail end of the last recession industry recession (see Oct. 20, 1998, story).
The April's 0.42 book-to-bill means that $42 worth of new orders were received for every $100 of product shipped in the month.
"The severity and depth of this industry correction is unprecedented," said Stanley T. Myers, president and CEO of SEMI.
"The book-to-bill ratio is the lowest that the industry has posted in the past decade and reflects the sharp order decline in April 2001," he said. "Cancellations of previously reported orders for semiconductor manufacturing equipment were a significant contributor to the monthly bookings decline as worldwide chip manufacturers make adjustments to bring capacity and inventory in line with demand."
Using a three-month moving average, SEMI said worldwide bookings for North American-based tool suppliers was $711.8 million in April. The bookings figure is 41% below the revised level of $1.20 billion in March and a 74% drop from the $2.72 billion posted in April 2000, said the San Jose-based trade group.
The three-month average of worldwide tool shipments was $1.68 billion last month, according to SEMI. The shipments were 17% below the revised level of $2.03 billion in March and 15% lower than billings of $1.99 billion in April 2000, said the new report.
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