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Technology Stocks : International Rectifier (IRF)

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To: Lusheng Yan who started this subject	4/22/2002 7:13:49 PM
From: Morris Catt	Read Replies (1) of 1712

Break out a Bubbly bottle of Veuve Clicquot La Grande Dame! Since Dec'00 the Semi Book to Bill ratio has been below 1.00 - indicating contraction - Now the ratio is 1.04 indicating a return to expansion after 16 months below 1.00. During the last cycle the ratio peaked at 1.39 in Jan'2000 and reached a bottom of 0.44 in April'01. ************ North American Semiconductor Equipment Industry Posts March 2002 Book- to-Bill Ratio of 1.04 SAN JOSE, Calif., April 22, 2002 -- The North American-based manufacturers of semiconductor equipment posted $839 million in orders in March 2002 (three-month average basis) and a book-to-bill ratio of 1.04, according to the March 2002 Express Report published today by Semiconductor Equipment and Materials International (SEMI). A book-to-bill of 1.04 means that $104 worth of new orders were received for every $100 of product billed for the month. The three-month average of worldwide bookings in March 2002 was $839 million. The bookings figure is 14 percent above the revised February 2002 level of $737 million and 30 percent below the $1.2 billion in orders posted in March 2001. The three-month average of worldwide billings in March 2002 was $808 million. The billings figure is one percent below the revised February 2002 level of $818 million and 60 percent below the March 2001 billings level of $2.02 billion. "The three month average billing figure softened slightly from the prior month. However, the overall ratio of bookings to billings rose above unity for the first time in sixteen months, signaling prospects for an improving industry revenue picture in the months ahead," said Stanley Myers, president and CEO of SEMI. "While we look for further confirmation of a recovery in the semiconductor equipment market, the improving trends are encouraging." The SEMI book-to-bill is a ratio of three-month moving average bookings to three-month moving average billings for the North American semiconductor equipment industry. Billings and bookings figures are in millions of U.S. dollars.

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