The result is the first time in six quarters that a below-parity book-to-bill ratio has been recorded in the equipment manufacturing sector. SEMI has reported that the ratio dipped to 0.88 in the second quarter (Q2) of 2011.
Billings reached USD$2.03 billion for the quarter, representing a 17 percent increase from the first quarter (Q1) of 2011. Billings had previously declined from quarter four (Q4) 2010 by 19 percent.
It was in the bookings side of the equation however that contained the bad news. Worldwide bookings declined by 18 percent to $1.79 billion. This represents a five quarter low and continued the trend from Q1.
Bettina Weiss, executive director of the PV Group at SEMI said, in a statement announcing the figures: "Photovoltaic equipment billings remain higher than levels a year ago. However, bookings have dropped significantly consistent with the softening of market demand and the over capacity situation."