AXT: Q2 Earnings Snapshot
FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a second-quarter loss of $5.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fremont, California-based company said it had a loss of 12 cents. Losses, adjusted for stock option expense, were 10 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 10 cents per share.
The semiconductor materials supplier posted revenue of $18.6 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $20.3 million.
In the final minutes of trading on Thursday, the company's shares hit $2.96. A year ago, they were trading at $9.32.
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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
