MOUNTAIN VIEW, Calif. -(Dow Jones)- Orders for semiconductor manufacturing equipment and materials were steady in May as chip makers continued to refurbish their factories and to make technological upgrades, an industry group said Tuesday.
The May book-to-bill ratio narrowly declined to 1.09 from 1.10 in April, according to Semiconductor Equipment and Materials International, or SEMI. The ratio means that for every $100 of of equipment sold, $109 in orders were received by North American-based equipment companies.
The figures show that the semiconductor industry continued on its recovery path during the month, according to Dick Greene, a SEMI analyst. While the new orders don't reflect capacity expansion by chip makers, they do show new investment for technology upgrades, said Greene.
Three-month average shipments rose in May for the third straight month, to $1.3 billion, a 4.8% increase from the April level. Shipment levels for equipment are now only 3% below the $1.4 billion point of May 1996.
Total equipment order input continued to grow in May to $1.4 billion, with three-month average bookings rising 3.6% above April levels. This was the third straight monthly advance in orders, which are now more than 20% above the same month of 1996.
Copyright (c) 1997 Dow Jones & Company, Inc.
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