FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Wednesday reported second-quarter earnings of $361,000.
The Fremont, California-based company said it had net income of 1 cent per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The semiconductor materials supplier posted revenue of $22.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $21.7 million.
AXT shares have risen 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.24, a rise of 29% in the last 12 months.