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According to the latest worldwide semiconductor manufacturing equipment billings from SEMI, first quarter 2008 figures reached $10.56 billion, seven percent greater than the fourth quarter of 2007 and two percent less than the first quarter of 2007.

SEMI also reported worldwide semiconductor equipment bookings of $8.08 billion in the first quarter of 2008, down 23 percent for the same quarter last year and 11 percent less than the fourth quarter of 2007.

"While bookings have weakened in the first quarter, overall industry billings remain at levels higher than the end of last year," said Stanley T. Myers, President and CEO of SEMI. "Some regions, specifically North America, Korea, and China, posted strong quarter-over-quarter growth in spite of the conservative capital environment."

On a regional basis, billings have dropped by 30 percent compared to a year ago in Korea, which is home to memory manufacturers Hynix Semiconductor and Samsung Electronics. Europe and the ROW are also down Y-on-Y, though the rate of decline has slowed.

Taiwan and China continue to grow Y-on-Y though at lower levels of growth. China remains the fastest-growing region with billings up 25 percent from the first quarter of 2007 through the first quarter of 2008. However, China is growing from a smaller base compared to the other regions.