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AXT: 3Q Earnings Snapshot

·1 min read

FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Wednesday reported third-quarter net income of $991,000, after reporting a loss in the same period a year earlier.

The Fremont, California-based company said it had profit of 2 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The semiconductor materials supplier posted revenue of $25.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $24.1 million.

AXT shares have climbed 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.56, an increase of 83% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI