AXT: 3Q Earnings Snapshot

AXT: 3Q Earnings Snapshot

Associated Press
0
In this article:

FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Wednesday reported third-quarter net income of $3.9 million.

On a per-share basis, the Fremont, California-based company said it had net income of 10 cents.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 10 cents per share.

The semiconductor materials supplier posted revenue of $28.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $28.1 million.

AXT shares have declined 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.55, a fall of 30 percent in the last 12 months.

_____

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

Advertisement

Recommended Stories