AXT: Q2 Earnings Snapshot
FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Thursday reported second-quarter earnings of $5.5 million.
The Fremont, California-based company said it had profit of 13 cents per share. Earnings, adjusted for stock option expense, were 16 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The semiconductor materials supplier posted revenue of $39.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $40.3 million.
AXT shares have declined 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.02, a decline of 30% in the last 12 months.