SAN JOSE -- North American-based manufacturers of semiconductor equipment posted $1.03 billion in orders in February, according to SEMI. The 90-day moving book-to-bill ratio was 0.78.

A book-to-bill of 0.78 means that $78 worth of orders were received for every $100 of product billed for the month.

The three-month average of worldwide bookings in February was $1.03 billion. Bookings were up 4% over revised January of $990 million and 22% below February.

The three-month average of worldwide billings in February was $1.32 billion. Billings were 5% above the revised January figure of $1.26 billion and 15% above February 2004.

"Current three-month average bookings are at a level observed in late 2003," said Dan P. Tracy, senior director of SEMI Industry Research & Statistics. "Given the 300-mm investment and ramp underway worldwide, the expectation remains for a much more moderated equipment cycle in 2005 compared to the 2001/2002 time frame."