hdr: This doesn,t have the %'s, but has the companies listed:
Headline: Semiconductor Equipment/Electronics: Worst Book-to-Bill on Record
Author: Edward C. White, Jr., CFA 1(212)526-4744/Tolomy Erpf
Company: AEIS, AMAT, EGLS, ETEC, FSII, KLAC, KLIC, LRCX, LTXX, NVLS, PRIA, SFAM, SVGI, TER, VAR
Country: ECO CUS
Industry: SEMICO
Today's Date : 10/20/98
* The SEMI book-to-bill ratio for the 3 months ended in September for all
equipment in total was 0.57, representing the worst ratio since SEMI began
publishing data in 1991. Total orders were down 16.1% from August levels.
* Bookings have now declined 71% from peak levels in November 1997.
* Front end orders for September were down 23.6% sequentially, after a decline
of 24.2% in August. Test/Assembly orders for September were up a modest 3.9%,
after a decline of 10.4% in August.
* The three-month average order picture continues to reflect a very weak
summer period.
* We continue to believe orders will rebound seasonally in the fourth quarter.
Some equipment companies are projecting that orders reached a trough in 3Q98.
Highlights:
The U.S. Semiconductor Equipment Industry posted a continuing decline in 3-
month average orders of 16.1% in September, after a 20.8% sequential decline
in August. On an absolute basis, September order levels of $476.4 million are
the lowest since March 1993.
The Front End Equipment ratio was 0.55 in September, down from a revised 0.59
in August. This represents the worst ratio since SEMI began publishing data
in 1991, and the twelfth sequential reporting period during which the growth
in orders has been less than the growth in shipments. Front end equipment
orders declined 23.6% in the September reporting period, and shipments
declined 18.4%, versus a revised decline in orders of 24.2%, and a revised
decrease in shipments of 13.1% in August.
The Assembly & Test Equipment ratio for September was 0.60, up from a revised
0.53 in August. The book-to-bill ratio has been below 1.00 for the last seven
reporting periods. Test & assembly equipment orders in September increased
3.9% from revised August levels, following a decline of 10.4% in August.
Shipments declined 8.9% in September, versus a revised decline of 3.6% in
August.
Front Test/ Total Front Test/ Total
End Asmbly Equip End Asmbly Equip
Shipmts Shipmts Shipmts Orders Orders Orders
OCT-96 863.9 208.5 1,072.4 660.5 172.4 832.9
NOV-96 860.4 201.9 1,062.3 743.7 207.8 951.5
DEC-96 866.0 203.2 1,069.2 812.0 266.2 1,078.2
JAN-97 837.0 197.0 1,034.0 839.0 277.0 1,116.0
FEB-97 798.0 200.0 998.0 782.0 293.0 1,075.0
MAR-97 811.0 227.0 1,038.0 854.0 307.0 1,161.0
APR-97 858.0 238.0 1,097.0 895.0 333.0 1,228.0
MAY-97 890.0 265.0 1,155.0 948.0 326.0 1,274.0
JUN-97 932.7 288.5 1,221.2 978.0 356.3 1,334.3
JUL-97 986.4 314.1 1,300.5 1,070.9 364.4 1,435.3
AUG-97 1,001.6 340.0 1,341.6 1,039.6 392.3 1,431.9
SEP-97 1,095.8 362.4 1,458.2 1,098.3 440.1 1,538.4
OCT-97 1,160.8 389.0 1,549.8 1,130.7 453.0 1,583.7
NOV-97 1,240.4 393.7 1,634.1 1,169.9 463.2 1,633.1
DEC-97 1,158.3 401.0 1,559.3 1,102.2 448.1 1,550.3
JAN-98 1,071.4 386.6 1,458.0 939.3 424.3 1,363.6
FEB-98 988.0 381.1 1,369.1 851.1 382.4 1,233.5
MAR-98 979.1 391.2 1,370.3 802.9 320.2 1,123.1 |
