Semiconductor Equipment and Materials International of Mountain View, Calif., reported a preliminary June 1999 book-to-bill ratio of 1.24 for North American-based manufacturers of semiconductor equipment. The trade organization, which represents companies in the semiconductor and flat panel display equipment and materials markets, suggests that the numbers support a "continued cautious optimism."

According to Stanley Myers, president of the association, the June figures are consistent with predictions for a slow, steady recovery in the semiconductor chip and equipment industries.