SAN JOSE -- North American-based manufacturers of semiconductor equipment posted $1.01 billion in orders in January and a book-to-bill ratio of 0.80, according to SEMI.

The data reflect a three-month average and are 18% below the revised December level of $1.24 billion and 18% below last year.

A book-to-bill of 0.80 means that $80 worth of orders were received for every $100 of product billed for the month.

The January three-month average of worldwide billings was $1.27 billion, down 4% from December but 23% higher than last year.

"The three-month average bookings figure for new semiconductor equipment is now at the lowest level since November 2003," said Stanley T. Myers, president and CEO of SEMI. "Total bookings declined sharply in January and are now about 37% below the cyclic peak observed in June 2004."

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