SEMICONDUCTOR FEBRUARY BOOK-TO-BILL RATIO 1.13
The Semiconductor Industry
Association said the February three-month average book-to-bill
ratio was 1.13 pct, compared to a revised 1.12 pct in January.
    The January figure was revised from the 1.11 pct reported
last month.
    In its monthly survey of U.S., European and Japanese
semiconductor makers, the association said average orders for
February totaled 788.2 mln dlrs, compared with 780.2 mln in
January and 684.3 mln in February a year ago.
    A book-to-bill ratio of 1.13 means that for every 100 dlrs
worth of product shipped, manufacturers received 113 dlrs worth
of new orders.
    The association said February shipments were 677.8 mln
dlrs, up 4.9 pct from the 645.9 mln shipped during January and
seven pct higher than the 633.5 mln reported in February a year
ago.
    Three month average billings for February totaled 699.4 mln
dlrs, up 0.2 pct from January's 697.8 mln, the association also
said.
    "The continuing improvement in the U.S. semiconductor
market reflects the fact that U.S. electronics equipment
manufacturers' sales are finally increasing," Semiconductor
Industry Association president Andrew Procassini said.
    The figures of the past few months suggest that the
industry is experiencing a gradual recovery that is likely to
continue, said Edward White, semiconductor analyst at E.F.
Hutton Group Inc.
    But he also said semiconductor makers still need a pickup
in capital spending within the high-technology sector before
any dramatic upturn can take place.
    The February figures show strong single-month improvement
in the semiconductor industry, but after closer examination
they may prove to be disappointing to investors, said Michael
Gumport, an analyst at Drexel Burnham Lambert Inc.
    "On the face of it these numbers are below recent
expectations," Gumport also said.
    A 1.15 or higher book-to-bill ratio had been expected,
Gumport said.
    He also said the three month average book-to-bill ratio,
which was reported earlier than expected, reflected a downward
revision in the December order total, Gumport said.
    December's order rate amounted to 757.5 mln dlrs, down from
the earlier-reported 783.8 mln dlrs, the association said.
 Reuter
